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…

As the supply of new PhDs in business has declined in the past decade in the face of increasing demand, the cost of filling vacant faculty lines with qualified professors of business has increased substantially. Because salaries of current faculty members normally fail to keep up with market salaries, when a faculty line is vacated the college…