Careers for Business Doctorates

Doctoral Programs in Business

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Doctorate

Considering a Doctorate in Business?

Pursuing a doctorate requires exceptional effort. It is a commitment of time at least equal to a full-time job and requires coursework, examinations, research, analysis, and reporting.

Doctoral candidates are inspired by the process of discovery. They enjoy solving problems and creating correlations between theories and ideas.

Measure Your Interest in Research
and Academia

Here are a few questions you might ask yourself if you are considering a doctoral program in business:

—Are you interested in research?
—Do you enjoy learning and innovating?
—Do you want to teach at a university?
—Do you wish to consult at a higher level?
—Are you able to draw conclusions from data?
—Can you solve complex problems?

If you said yes to one or more of these items, a doctorate in business could be a challenge you might want to consider.

Salary Data for Newly Hired Faculty
at AACSB-Accredited Business Schools

Average global business school faculty salaries for new hires at AACSB-accredited institutions have remained high according to 2009–10 AACSB International data. The following figures were reported by AACSB-accredited schools.

Mean Salaries for Newly Hired Accounting Faculty

—Instructors: 66,700 USD
—Assistant Professors: 124,300 USD
—Associate Professors: 128,600 USD
—Professors: 182,200 USD
—New Doctorates: 129,100 USD

Mean Salaries for Newly Hired Behavioral Science/Organizational Behavior Faculty

—Instructors: 78,400 USD
—Assistant Professors: 109,700 USD
—Associate Professors: 120,400 USD
—Professors: 130,000 USD
—New Doctorates: 108,400 USD

Mean Salaries for Newly Hired Economics/Managerial Economics Faculty

—Instructors: 53,100 USD
—Assistant Professors: 87,800 USD
—Associate Professors: 107,400 USD
—Professors: 205,200 USD
—New Doctorates: 89,500 USD

Mean Salaries for Newly Hired Entrepreneurship/Small Business Faculty

—Instructors: 66,100 USD
—Assistant Professors: 110,600 USD
—Associate Professors: 127,900 USD
—Professors: 192,600 USD
—New Doctorates: 124,100 USD

Mean Salaries for Newly Hired Finance Faculty

—Instructors: 75,600 USD
—Assistant Professors: 132,200 USD
—Associate Professors: 143,300 USD
—Professors: 187,200 USD
—New Doctorates: 135,600 USD

Mean Salaries for Newly Hired Marketing Faculty

—Instructors: 62,500 USD
—Assistant Professors: 110,000 USD
—Associate Professors: 116,500 USD
—Professors: 169,000 USD
—New Doctorates: 110,000 USD

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Faculty Shortages in Business Schools
Create High Demands for Business Doctorates

Currently, there is a large shortage of doctoral qualified faculty members in business schools around the world. These shortages are rooted in an exponential growth of business schools, fewer doctoral program applicants, and an increase in number of students obtaining business degrees.

By the year 2014, the shortage is expected to reach nearly 3,000. The business fields with the largest shortages of doctoral qualified faculty are accounting, audit, tax, finance, and marketing. Due to the declining faculty, PhD graduates in these fields have seen significant increases in salaries and employment opportunities.

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More Resources

AACSB Paper—Considering a Career as a Business School Professor: An Overview of Job Outlook, Work-Life Balance, and Compensation.
View PDF