Thursday, March 30, 2006
This doesn't sound like much, does it? Consider the following.
There are approximately 3,500 institutions of higher education in the US. Most of them teach business, though not all of them require a PhD to teach business at their institution.
There were 1,035 Doctorates awarded in all business fields the last year that data are available for.
Of those, only 59% have the right to work in the US. In general, only 65% of doctorates in business want to teach.
Factor in our low salaries offered here, and....I don't even want to go there.
If I have my math right, we're down to fewer than 400 new potential business faculty a year that are eligible to work in the US. Some disciplines are affected more than others. A hire in Accounting or Finance is a cause for a PARTY.
Granted the market for faculty is somehat global, but the numbers are still scary. There are over 600 AACSB accredited schools of business, and this is less than one person available to each university each year...across ALL business disciplines.