Salary trends of finance faculty: evidence from AACSB 2000 through 2009 Online publication date: Tue, 22-Nov-2011
by Shuming Bai; Kai S. Koong; Jack D. Ladd
International Journal of Revenue Management (IJRM), Vol. 5, No. 4, 2011
Abstract: Employing the most recent ten-year comprehensive data set from the AACSB International, the authors found that the mean salaries of finance faculty in the USA grow at an average rate of 4.5% for all ranks except for professors. Private and accredited institutions pay their faculty significantly more in annual salaries than their public and non-accredited counterparts. Salary compression is evidenced by assistant professor’s salary growing at a faster pace than that of professor’s. Salary inversion can be illustrated by assistant professors receiving higher annual salaries than associate professors. Instructors experience the most volatile swings in salary compensation. However, salary patterns among different categories of institutions are fairly efficient in the long run after adjusting to the average annual growth rate. The factors that explain the trends are seniority, institutional control, accreditation status, market demand and economic condition. The findings are useful to revenue management in public sectors.
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