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Headlines What Professors Earn Business faculty continue to command robust salaries, thanks in large part to the ongoing decline in doc- toral degree production in the U.S. According to the 39th annual Salary Survey conducted by AACSB Inter- national, the average full-time faculty nine-month salary across all ranks and fields increased 5.2 percent last year, to $101,000 from $96,000. Among those teaching college business courses, the ones who expe- rienced the biggest increase in aver- age salary were those holding the rank of instructor, who saw a rise of 8 percent across all fields. Gains were solid both for incumbent fac- ulty, who netted average raises of 5 percent, and new hires, whose aver- age salaries went up by 5.5 percent. Professor Economics/Managerial Economics Finance/Banking/ Real Estate/Insurance Management/ Behavioral Science/ International Business/ Strategic Management Marketing Production/Operations Management Quantitative Methods/ Operations Research/ Statistics Combined (all fields and disciplines) 123.8 119.5 113.4 134.0 123.8 Those new hires continue to have an impact on the overall salary base as more schools are bringing in new faculty. In this survey, the portion of full-time faculty classified as new hires increased to 9 percent from 8.5 percent the previous year. On aver- age, each school welcomed 4.9 new faculty members in the fall of 2006, which was up from 4.4 in 2005. The survey also shows that the distribution of hiring activity has shifted over the last ten years. The disciplines picking up market share were accounting, economics, and finance, while information systems has shown a steady decline from 17.6 in 2000 to 6.8 in 2006. According to the survey, non-ten- ure track positions account for only a small fraction of the openings at the professor, associate professor, Average Salaries by Rank and Discipline Field/Discipline Accounting/Taxation CIS/MIS 104.4 98.8 83.3 113.1 97.8 Associate Professor Assistant Professor 104.1 94.78 77.6 115.0 92.0 Instructor New Doctorate 58.8 55.9 55.2 66.3 58.1 113.5 93.4 81.0 118.0 93.6 and assistant professor ranks. How- ever, this year the portion of full- time faculty designated as "instruc- tors"—where most of the non-tenure track positions are clustered—rose to 13.6 percent from 12.5 percent. More than one-quarter of the new hires in 2006 held the instructor rank. This may signal a potential trend as business schools look for ways to add teachers without break- ing the budget. At administrative levels, sala- ries have also increased. In 2006, the mean salary for a dean was $185,700. For associate deans, that number was $148,500, and for assistant deans, $89,300. Other administrative positions that broke the $100,000 mark were assistant deans or directors of develop- ment, with a mean 2006 salary of $103,200; accounting department chairs, $141,300; director of the accounting school, $157,500; aca- demic department chair, $136,400; assistant dean or director of the executive education department, $114,000; director of the EMBA program, $100,500; director of research, $115,400; and director of distance education, $103,400. Survey results were calculated 125.1 124.6 119.5 123.8 99.7 101.4 94.1 99.0 95.6 98.1 84.2 95.8 58.2 59.3 52.6 58.4 All amounts in thousands of dollars. Source: AACSB International Knowledge Services 12 BizEd MARCH/APRIL 2007 100.7 95.6 93.2 100.4 based on the responses of 491 par- ticipating schools. They provided information on 26,768 business faculty members across all ranks and 28 business fields, as well as 5,000 administrators in 25 positions nor- mally found in business schools. The overview report of the survey is avail- able to all participating or subscribing schools in the downloads section of DataDirect on www.aacsb.edu/data- direct. The overview report also can be purchased through the Knowl- edge Services report catalog, which can be found at www.aacsb.edu.