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ERIC Number: EJ883945
Record Type: Journal
Publication Date: 2010
Pages: 4
Abstractor: As Provided
Reference Count: 14
ISSN: ISSN-0883-2323
The Salary Premium Required for Replacing Management Faculty: Evidence from a National Survey
Finch, J. Howard; Allen, Richard S.; Weeks, H. Shelton
Journal of Education for Business, v85 n5 p264-267 2010
One of the most important aspects of growing and improving business education is replacing departed faculty members. As the baby-boom generation approaches retirement, the supply of available replacement faculty members is diminishing. The result is a competitive market for replacement faculty that features increasing starting salary levels. In particular, faculty lines that have been occupied for extended time periods need to be marked to market salary levels because annual salary increases rarely keep pace with inflation in the labor market. The authors report the results of a national survey to determine the amount of salary premium required to bring vacated management faculty lines back up to competitive market levels. As business schools struggle to replace retiring and departing faculty, budgets have to account for these premium increases to succeed in an increasingly competitive market for faculty labor. (Contains 4 tables.)
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Publication Type: Journal Articles; Reports - Research
Education Level: Higher Education
Audience: N/A
Language: English
Sponsor: N/A
Authoring Institution: N/A