By Jessica Brown, Senior Manager, Knowledge Services, AACSB International
When hiring faculty, business school administrators are often faced with the difficult task of finding someone who is well-qualified, a good fit for their school, and whose salary requirements match their budget options. On the annual Global Salary Survey, AACSB collects information on faculty salaries, but also doctoral faculty demand by management education discipline. This article provides a glimpse into the most commonly reported disciplines for both current full-time faculty and unfilled full-time faculty positions.
Most Common Disciplines Reported for Current Full-Time (FT) Faculty
Within the data reported as FT faculty positions filled for this data set (28,744), the chart above shows the 10 most common disciplines. These charts represent the data of 517 schools that completed the "Doctoral Faculty Demand" section of the 2012-2013 Salary Survey. The largest percentage of full-time faculty, 19.9%, were reported here with a discipline of accounting, but this is followed relatively closely by finance at 16.3%. The combination of accounting, finance, marketing, management, and economics, accounted for 74.7% of the total FT faculty reported with the remaining 25.3% divided among the remaining disciplines. So, this is a snapshot of what types of faculty schools currently employ. But what about funded, authorized, and unfilled faculty positions? The next chart can give us an idea of which disciplines schools are currently trying to fill.
Most Common Disciplines Reported for Unfilled Full-Time Faculty Positions
There were 1,355 currently unfilled FT doctoral faculty positions reported by this set of schools. By far, the area of largest demand was in accounting, with 26.8%. The combination of accounting, finance, marketing, management, and economics, accounted for 78.6% of the total unfilled FT faculty positions reported with the remaining 21.4% divided among the other disciplines. This discipline set aligns fairly closely with the currently filled positions with a couple of exceptions. Business law (2.6%) of currently filled positions is not within the top 10 of unfilled positions while entrepreneurship/small business administration appears in the top 10 for unfilled (3.0%), but is not in the top 10 filled positions.
Now, knowing what disciplines are being most actively sought illustrates another important factor: salaries. For the disciplines in the top 10 unfilled positions, the following table shows both the average reported salary and the average reported new hire salary at the professor level. If there were fewer than three new hires reported in a specific discipline, it is marked with an '–'. In most of these disciplines, new hire salaries approached or exceed the average salaries for the existing positions, leading to potential difficulties in hiring such as budget constraint, faculty morale, and competition for the best candidates.
Overall, the most popular faculty disciplines are not a surprise, but it can be very useful to see which disciplines are in demand now and how much those positions will likely pay for new hires. For schools that participated in the 2012-2013 Salary Survey, this and other similar data is available through DataDirect to help you determine the best way to focus your faculty searches.