phd business professor salary

AACSB International. Salary Survey Reports: Executive Summaries . AACSB.*

Summary by James R. Martin, Ph.D., CMA Professor Emeritus, University of South Florida Advice for Ph.D. Students and New Faculty | Education Issues Main Page

Note : Part I of this summary includes mean faculty salaries from the 2012-2013, 2015-2016, 2017-2018, 2019-2020, and 2020-2021 reports for accounting faculty. Part II includes 2019-2020 median and mean faculty salaries for 18 business disciplines.

Part I: Mean Accounting faculty salaries for various years.

Part II: The following tables include 2019-2020 median and mean faculty salaries for 18 Business Disciplines. If covers 33,440 full time faculty from 455 schools: 21 from Asia Pacific, 38 from Europe and the Middle East, 30 from Canada, 8 from Latin America and the Caribean, and 417 from the United States.

* The 2020-2021 salaries are from the AACSB Business School Data Guide . Prior years are from the Executive Summaries . See AACSB International for the full reports. global-salary-survey-report

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Salary Related Summaries :

Martin, J. R. 2021. IMA Salary Calculators 2010-2020. Management And Accounting Web .

Schiffel, L., K. A. Smith and D. L. Schroeder. 2011. IMA 2010 salary survey: How's that recovery workin' for you? Strategic Finance (June): 26-46. ( Summary ).

Articles related to the Accounting Doctoral Shortage and Opportunities to Teach Accounting

AACSB International. 2003. Sustaining Scholarship in Business Schools . AACSB.

Albrecht, W. S. and R. J. Sack. 2000. Accounting Education: Charting the Course through a Perilous Future . Accounting education Series (16): American Accounting Association.

Behn, B. K., G. A. Carnes, G. W. Krull Jr., K. D. Stocks and P. M. J. Reckers. 2008. Accounting Doctoral Education - 2007 A Report of the Joint AAA/APLG/FSA Doctoral Education Committee. Issues in Accounting Education (August): 357-367.

Bergner, J. 2009. Pursuing a Ph.D. in accounting: Walking in with your eyes open: Here's how the doctoral track looks through the eyes of one student. Journal of Accountancy web-exclusive article. (Mentioned in the March issue as an AICPA resource on page 40). ( JOA Link ).

Beyer, B., D. Herrmann, G. K. Meek and E. T. Rapley. 2010. What it means to be an accounting professor: A concise career guide for doctoral students in accounting. Issues in Accounting Education (May): 227-244. ( Summary ).

Bishop, C. C., D. M. Boyle, B. W. Carpenter and D. R. Hermanson. 2016. Transitioning into academia: A new pathway for practitioners. Journal of Accountancy (March): 48-53. ( JOA Link ).

Bishop, C. C., D. M. Boyle, R. R. Clune and D. R. Hermanson. 2012. A different model for doctoral education in accounting and auditing: Student and faculty reflections. Current Issues in Auditing 6(1): A1-A16. ( Note ).

Bonner, P. 2010. New pathways to accounting excellence. Journal of Accountancy (October): 56-60. (Interview with Pathways Commission Chair Bruce Behn related to charting a national higher education strategy for the next generation of accountants).

Bonner, P. 2012. Bolstering the future of accounting education. Journal of Accountancy (October): 38-39.

Boyle, D., D. Hermanson and M. Mensah. 2011. Addressing the accounting and auditing faculty shortage: Practitioners' perceptions of academia. Current Issues in Auditing 5(1): A70-A85.

Boyle, D. M., B. W. Carpenter, D. R. Hermanson and M. O. Mensah. 2013. The accounting doctorate shortage: Opportunities for practitioners. Strategic Finance (May): 30-36. ( Note ).

Campbell, T. L., J. R. Hasselback, R. H. Hermanson and D. H. Turner. 1990. Retirement demand and the market for accounting doctorates. Issues in Accounting Education (Fall): 209-221.

Gary, R. F., C. A. Denison and M. L. Bouillon. 2011. Can obtaining an accounting Ph.D. provide a positive financial return? Issues in Accounting Education (February): 23-38. ( Summary ).

Grasso, L. 2008. The accounting Ph.D. shortage: Crisis or opportunity? Cost Management (March/April): 15-25. ( Note ).

Hunt, S. C., T. V. Eaton and A. Reinstein. 2009. Accounting faculty job search in a seller's market. Issues in Accounting Education (May): 157-185.

Kachelmeier, S. J., S. Madeo, D. Plumlee, J. H. Pratt, G. Krull and G. Thornton. 2005. Report of the AAA/AAPLG Ad Hoc Committee to assess the Supply and Demand for Accounting Ph.D.s . A joint project of the American Accounting Association and the Accounting Programs Leadership Group. ( Note ).

Leslie, D. W. 2008. Accounting Faculty in U.S. Colleges and Universities: Status and Trends, 1993-2004. A Report of the American Accounting Association. American Accounting Association. ( Note ).

Martin, J. R. Not dated. The accounting doctoral shortage and opportunities to teach accounting. Management And Accounting Web . Accounting Doctoral Shortage

McNair, C. J. and B. Richards. 2008. Unintended consequences: Death of the teacher-scholar. Cost Management (January/February): 21-28. ( Summary ).

Meyer, M. J. and P. L. Titard. 2000. Those who can ... teach. Want to exchange your Palm Pilot for a blackboard, get a PhD and go back to college as a teacher? The time to do it is now. Journal of Accountancy . (July): 49-58. ( Note ).

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Plumlee, R. D., S. J. Kachelmeier, S. A. Madeo, J. H. Pratt and G. Krull. 2006. Assessing the shortage of accounting faculty. Issues in Accounting Education (May): 113-125.

Prather-Kinsey, J., A. Savage, S. Boyar and J. Exline. 2018. A call to practitioners: You can play a bigger role in academia and share your experience with accounting students who are hungry for real-world knowledge. Strategic Finance (August): 54-59. ( Summary ).

Reigle, D. 2008. Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits . AICPA.

Ruff, M., J. C. Thibodeau and J. C. Bedard. 2009. A profession's response to a looming shortage: Closing the gap in the supply of accounting faculty. Journal of Accountancy (March): 36-41. ( JOA Link ).

The Pathways Commission. 2012. The Pathways Commission on Higher Education: Charting a National Strategy for the Next Generation of Accountants . American Accounting Association and American Institute of CPAs. ( Note ).

Trapnell, J. E., N. Mero, J. R. Williams and G. W. Krull, Jr. 2009. The accounting doctoral shortage: Time for a new model. Issues in Accounting Education (November): 427-432. ( Note ).

How much do top business school professors get paid?

A couple of years ago, US media raised a storm over the pay of a business school professor of Indian origin. Kannan Ramaswamy, who taught global strategy at Arizona’s Thunderbird School of Global Management, received a compensation package of $700,000.

Some journalists and academic experts wrote that Thunderbird, which had been on the decline for some time, was already $4 million in the red. They said that even Thunderbird President Angel Cabrera was paid only $584,789 and that the school was grossly overpaying Ramaswamy, who, they said, was “little known” outside the school, “not widely quoted in the media,” and “not recognized as an expert in his field.”

But Ramaswamy was not the only professor at Thunderbird with a mindboggling salary. Indeed, he was only one among the top 10 professors at the school were paid a total of $4.3 million.

Many readers took Ramaswamy’s critics to task, explaining how b-schools decided on their faculty salaries and why they thought Ramaswamy was a topnotch teacher.

In any case, a b-school professor who takes home more than half a million is not such a rare bird in the US. Many professors enjoy an equal or a higher pay at Columbia, Cornell, Yale, Harvard, Duke, UC Berkeley, UT Austin, and UPenn.

As Dean of University of Pennsylvania’s Wharton School, Thomas Robertson’s compensation package was nearly $772,000. In an article in late 2015, the Daily Pennsylvanian pointed out that this was higher than the salary of UPenn’s Dean of Arts and Sciences, $523,000, and that of business deans at schools such as Harvard. Nitin Nohria, Dean of Harvard Business School, received $697,000, about $75,000 less than the remuneration that Robertson, now Professor of Marketing at Wharton, had received as Dean.  

The top 10 highest paid professors in USA

Third on the list is Dean Takahashi, Adjunct Professor in the Practice of Finance at Yale School of Management. Takahashi, who is also Yale’s Senior Director of Investments, oversees the university’s endowment, pension, and charitable trust assets of $17 billion. His annual salary: $2.6 million.

Fourth on the Best Schools list is William E. Fruhan Jr., Professor Emeritus at Harvard Business School, who has served as director of 15 corporations and authored books and scholarly articles, at $1.19 million. At fifth is Dan J. Laughhunn ($1.03 million), Professor Emeritus at Duke Fuqua, an expert in decision-making science and specialist in the study of risk preference of managers. The sixth place goes to Andrew M. Isaacs ($709,000), who directs management of technology programs at Berkeley Haas.

In the seventh position is Kannan Ramaswamy, and in the eighth, Andrew Inkpen ($566,000), a specialist in joint ventures, strategic alliances, management of knowledge, and organizational learning in the telecommunications, energy, automotive industries , at Thunderbird. The 10th place goes to Graeme Rankin, Associate Professor of Accounting, at Thunderbird, with $493,000 (Steven Weinberg, Professor of Physics and Astronomy, University of Texas, Austin, is at ninth with $536,000).

Other top professors drawing high salaries include Daniel Oppenheimer (UCLA Anderson, psychology), Neil Malhotra (Stanford GSB, political economy), Cait Lamberton (Pittsburgh Katz, marketing),  Victoria Brescoll (Yale SOM, organizational behavior), Keisha Cutright (UPenn Wharton, marketing), Luis Diestre (IE Business School, Spain; strategy), Panos Patatoukas (Berkeley Haas, accounting), Cynthia Rudin (MIT Sloan, statistics), Adam Alter (NYT Stern, marketing), and Michael Christian (UNC Kenan Flagler, organizational behavior).  

Other sources of income for professors

Many business professors with doctorates take up consulting positions with industries, participate in international teaching assignments, publish articles and books, and speak at conferences. Salary is, therefore, hardly their only source of income. Indeed, for at least a few professors, the fee from non-teaching assignments surpasses their salary.

Poets & Quants reports that professors from MIT, Northwestern, or Harvard charge a fee of $100,000 for a single speech, while professors from lesser known institutions command $20,000-$40,000. A 2014 P&Q article says that the three highest-paid speakers from academia at that time were all Harvard Business School professors — Michael Porter, author of the Porter’s Five Forces concept ($150,000 a speech), Clayton Christensen, who coined the term “ disruptive innovation ” ($100,000), and John Kotter (professor of leadership and change, $85,000).

Vijay Govindarajan of Dartmouth College’s Tuck School of Business was paid $55,000 for each of his talks on innovation and strategy. [Read our interview with Vijay Govindrajan ]

An interest among companies in the “military model” to groom leaders catapulted the then Yale School of Management professor Brig.-Gen. (retired) Thomas Kolditz to celebrity-speaker status with a fee of $20,000. Douglas Conant, as chairman of the Kellogg Executive Leadership Institute, earned $45,000 per appearance for his insights on leadership, and Peter Senge of MIT Sloan $40,000 for his knowledge of organizational learning.

Among star women-speakers was Harvard’s Rosabeth Moss Kanter, who was paid $40,000, and Columbia Business School Professor Rita McGrath.

Other celebrity speakers included Joseph Stiglitz of Columbia Business School ($80,000), Nouriel Roubini of NYU Stern School of Business ($75,000), W. Chan Kim of INSEAD ($75,000), Gary Hamel of London Business School ($50,000), and Marvin Zonis of the University of Chicago’s Booth School of Business ($45,000).  

Median salaries for business school professors

A look at salaries of full-time business faculty members in the US as reported by the Association to Advance College Schools of Business (AACSB) provides perspective on celebrity professors’ salaries.

According to figures on the AACSB website for 2014-15, the latest available on the website, full-time professors teaching finance (including banking) received the highest annual average salary of $183,000 among all b-school full-time professors from all disciplines (accounting; CIS/MIS; economics/managerial economics; finance, including banking; management; and marketing). New hires for finance in the full-time professor category also recorded the highest average salary among all new hires in the same category, of $231,000.

The highest average salary globally (excluding the US) among full-time professors was highest among full-time professors teaching finance, at $141,000. The average among new hires (full-time professors) globally was highest among new hires teaching finance, at $175,000.

Full-time associate professors of finance (including banking) received the highest average salary of $143,000 among all full-time associate professors in the US in 2014-15. The average salary of new hires for finance (full-time associate professors) at $186,000 was the highest among new hires in the category across all disciplines. However, globally, excluding the US, full-time associate professors of accounting, not finance, received the highest average salary of $115,000. Among new hires, the average salary was the highest among associate professors of management, at $128,000.

However, according to a 2015-16 survey by College and University Professional Association for Human Resources, among tenured/tenure-track professors, those teaching law recorded the highest median salary of $146,000 (associate professors $109,000; assistant professors $96,000), those teaching business, marketing, and management the second highest at $130,000 (associate professors $110,000; assistant professors $106,000), and those teaching engineering slightly lower at $129,000 (associate professors $97,000; assistant professors $84,000).  

Business deans’ salaries

According to a P&Q article from 2015, data from 20 b-schools collected by the website showed that the median salary of deans was $432,000. Dean of the University of Michigan’s Ross School of Business Alison Davis-Blake was the highest paid dean of a public university b-school at that time—$597,000. Maryam Alavi, Dean of the Georgia Institute of Technology Scheller College of Business, drew $550,000.

The article says the Dean of University of Berkeley Haas School of Business Richard Lyon’s salary of $424,000 was low, considering Haas’s better ranking and the cost of living in Berkeley.

According to P&Q, a comparison of deans’ salaries showed that “there was no rhyme or reason” in how these compensations were fixed (see the P&Q link below giving salaries of deans, the ranking of their schools, and the cost of living in the schools’ locations). But earnings of b-school professors depend on factors such as education, experience, and geographic location.  

Qualifications required for teaching jobs in business schools

A Master’s degree in business is usually what it takes to secure a teaching position in a business school that is not expected to lead to tenure. A doctoral degree is required for a tenure-track position at four-year colleges and may not be required in two-year colleges.

A candidate for tenure may have to teach as instructor, assistant professor, and associate professor in a university for many years before finally being recognized as a full professor, and then he or she may choose to work in an administrative position such as dean or departmental chair or president.

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16 thoughts on “How much do top business school professors get paid?”

Hi I am spandan Graduate in ECE engineering with CGPA of 8.1. I have experience of 1 year in developmental filed- Policy analysis in Niti Aayog and Fellow as teach for india. I want to pursue MIS/STEM courses in the us. Please can someone suggest what more i need to add to my resume or Can i get a college with this much experience. Thanks

Sir, I am a second year engineering student. They say, the earlier, the better. So I decided to focus on further studies right from now. Sir, my college offers very good placement with nice packages. Plus, I have maintained top cgpa. Because of this, I am confused whether to pick an offer from the table or to go for MS without taking the placement. Please help.

It is evidently clear that doing a Ph. D (econ/busec/fin etc) at top Universities/Business Schools and then teaching at top Business Schools in the US is seemingly better than doing an MBA from even top Business Schools because of the gigantic salary Business School professors command. Besides their salary from B-schools, some of the top professors could earn from consulting, presenting papers, publishing papers in top journals, speaking at conferences etc, which could make them earn additional huge money. Combining that with their already huge salary, top professors could earn more than $ 10,00,000 a year (let’s just, of course, ignore those professors/deans who already are paid more than a million dollar salary by the Schools) . Of course, their salary, however huge they are, are not comparable to that of the salary of top CEOs of top multi-billion dollar companies, who could earn more than $ 100 million a year.

i have 8.5 years of experience in a leading software company and I am a B.Tech by qualification. I intend to pursue one year mba in India in Data Analytics or IT consulting. Will my high experience be a problem in getting an offer from campus after the course completion? Please elaborate me with the pros and cons of taking up MBA at my experience level.

hello sir , i’m srijana i did my pgdm in marketing and Hr, 2014-2016 batch from delhi. which is equivalent to MBA i just want to go USA for further study like business management . but i’m marride and i have my 6 months daughter so what will be the procedure for this help me . thanks.

Nothing is equivalent to a good American MBA. It is characteristically American and sells very well in the US market by design. I don’t know for India.

You could try Washington foster tech mba people over there have 10 years of experience

I am 42 years old. I Completed M.Tech in CSE in the year 2013. I served as Assistant Professor in an Engineering College for 5 years. Now i want to Join Software Industry, so which course i need to start with so that i could get the job as earliest

If they admit you. You may want to try this program. https://warrington.ufl.edu/post-doctoral-bridge/ Otherwise take Phd courses as directed in the curriculum and apply for concurrent admissions. A MTech will qualify you to be a masters level lecturer or clinical professor and not an assistant professor tenure track. The pay difference is 30 – 60k compared to USD 150k on average. See my other postings.

I have completed my engineering in IT and MBA in Business Analytics and Finance. I aim at pursuing MS in Business Analytics .

Please let me know which are the best colleges for GRE score 310-315. Also, let me know the scholarship and total tuition fee of the colleges.

You can get 400 – 600 on your verbal scores and explain in letter that English is not your first language and provide proof of qualifying TOEFL/TSE/TWE scores. For quant, most programs expect perfect 800 or close as you are competing with people who have first Phds in physics, math or economics or psychology for Phd business.

Hi Sameer, I have 3.5 years of work experience in SAP in Capgemini. I have also got job in Deloitte, so till next March I will be completing 4 years of experience. I wish to pursue one year MBA program further. Is two year recommended or one?

Two year is recommended if you want to change field or learn a complete masters course of business, especially if you do not have a bachelor of business administration. One year is redundant if you plan to stay in your current position for long. At minimum, it should consist of one management course, one marketing course, one finance course and one accounting course. Business law or quantitative methods of business or statistics is very useful to have. So is an internship if the program you are wanting to attend offers one. If you want to be a manager, you might want to take one managerial economics or human resource management course. If you want to go international, you might want to take an international business or international marketing course. If you plan to stay with Deloitte, be sure to try to take an advanced accounting or Phd accounting course if you think you can manage, Alternatively, Deloitte also does international transfer pricing which is very well paying. For the mid to top level analyst, called associates or specialist. These courses help you make alot of money as bonuses or incentive pay if you are good at what you do. To do this properly, the best preparation would be derivatives capital asset model Phd finance course. It is very quantitative and this course is known for failing Phd physics and mathematics students so be warned. To get a taste of it, Google Black–Scholes pricing derivative model. You either are instinctively able to understand it once explained once or read in a book or you will have trouble with it.

@Spandan: Your current experience doesn’t seem to have any overlap with your choice of masters degree. Make sure you aren’t getting into something just because it’s in demand.

@Radhika: I’d vote for a job. Read this: https://www.mbacrystalball.com/blog/2015/06/01/mba-or-ms-after-btech-be-engineering/

@Brojendra: It could work in your favour if you are aiming for jobs in the same industry. A big career change would be more challenging.

@srijana: The application process remains the same as it is for any other applicant, except that you’d need to justify the second MBA. Read this for some inspiration: https://www.mbacrystalball.com/blog/2015/12/18/mba-for-indian-mom-with-kids/

@saniya: Check this out: https://www.mbacrystalball.com/masters-degree/data-science-analytics

@Apoorva: With your experience, a 2 year MBA would be good since it allows you more time to learn and experiment. Plus there’s the internship opportunity.

Hi.. I am from marketing… these are the posted salaries for finance (page 93) and marketing (page 97). These are from the general population university non-appropriated non confidential funding source provided by the state of Florida and the us department of education. https://drive.google.com/file/d/1_yvi7qwwkrgugl5porqjfdnpshamivig/view?usp=sharing As you can see… finance has top pay positions of eminent scholar research chaired professor of about USD 450,000. Marketing has eminent scholar chaired professor pay positions of USD 380,000+. This is separate from consulting work that you are encouraged to do and build industry contacts. Business school deans are known to make more than university professors. The first that comes to mind is a business school dean at the University of Michigan in 2002 whose name is Brian Joseph White who made USD 1.5 million in 2002. That being said. University of Michigan post the salaries for all staff on umsalary.info and a quick search will reveal that some industry renowned guest lecturers (i.e. if warren buffet came to teach can make upwards of USD 6 million dollars). These are not listed as faculty that are governed by the AACSB regulations for full time or part time counted faculty that are subject to accreditation standards. They do not have to publish 2 + papers per five years or be renowned in their field as a practitioner guru. They can make anywhere from USD 28000 is the lowest i believe for a lecturer/visiting distinguished professor or clinical professor title whichever is available for useage for someone whose job is to teach and has the minimum of a masters of business or equivalent and they teach very many courses around 3 courses to 5 courses a semester and make about USD 3000 – USD 8000 per course. There also are extremely successful business visiting professors who want to try out teaching a course in business schools who are more than qualified (i.e. Sam Walton, Warren Buffet, Donald J Trump, etc.) And these can make their comparable salary if they are deemed to be a publicity and selling point for the business school which is cash rich and the cash cow for most schools and not the cost center. Business schools are only as good as their placement. You will often see AACSB required postings of job placement statistics “at graduation”, 3 months out of graduation and 6 months out of graduation and the top 30 schools usually have statistics of around 88.7 percent , 95 percent, 97 percent. This does not mean that if you are currently unemployed, that you can go to a MBA program for 2 years and expect to make USD 100,000+. A lot of people would like that as do the business schools as they can sell more degrees but that is not the case. We keep our starting or resuming salary high by first screening the people we take. If you have the requisite two to five years of business experience at a supervisory or analyst level with salaries of USD 50,000 – USD 100,000k. You are very likely to be admitted because your gradual increment will be consistent with our target. Even if you already know all that we are about to teach you. The least we offer you is a rubber stamp endorsement that you have the degree required for the next progression in your career which is a masters of business administration. The second advantage we offer you is networking skills and an opportunity to be known to the future colleagues and leaders of your industry via in class time and also via multiple opportunities to present in business settings and at clubs, honor societies, etc. We also offer you the ability to recruit without attracting the department human resource attention or that of your immediate supervisor where you can trade for higher paying jobs without termination. Again, we also offer you the ability to re-finance or accumulate start up savings or investment capital by having your company sponsor your MBA and you also qualify for a federal loan or scholarship that you can choose to spend or save (buy a new car, clothing for your job, etc.). This may not seem like a lot but if gives you the needed three month buffer living expenses to attempt new jobs and new things or start a new business. The people who own the wing zone fast food company started out of the University of Florida as undergraduates and have not turned into a regional fast food chain which is quite impressive. Again, it does not mean that we will not recruit fresh undergraduates especially if your career or personal track is in line with our goals. For instance, if you own the patent rights to a certain product or computer program that we view will enable you to have a salary of about USD 100,000 at graduation even if you have below average GMAT scores and no work experience. If you father is Donald J Trump and you stand to inherit the trump towers hotel, i view that as being in line with the career profile of making at least USD 100,000 at the completion of your studies. If you have an inheritance and will not be working, that would probably not qualify you. As indicated, the placement record is what differentiates us from other non-professional school or discipline. We attempt to train you with relevant and marketable skill sets that would place very easily. Also, we offer internship programs while you are a student and taking course credit for directed internship thru out network of companies hiring interns so you can gain career experience without risking looking like you were unemployed or lazy on your resume. That being said, being a business professor is a lot of work and in my opinion not ever tenurable as we have very strict industry accreditation standards that dictate that we have to be viewed as a “scholar” by means of constant publication every five years or a practitioner by means of “engaging the business community or practicing in it”. So there is really no tenure as the school’s faculty have to be 90 percent accredited at any one time and the 10 percent is for providing those that do not qualify with notice and for filing in temp positions while we replace them. After all, what is tenure if you lose your accreditation and are no longer qualified to run your business model? Also, a lot of departments envy the business pay scale and would like to call themselves business departments such as sports marketing or management or other departments. The job of the business dean is to keep non business model consistent departments out and not impact the result of the placement or the business model or goals. That can be extremely stressful and short lived if you step on the wrong toes. For instance, though our job is not to produce pilots or international travel abroad studies programs or soldiers.. You may see some business departments paring up with these other departments to offer the students the opportunity to travel and network internationally or to manage their career placement risk and objectives by being duly able to engage private or non private employers such as the finance or real estate or the defense industry (army rotc/air force rotc) sectors as a fall back since these do provide the possibility of appointment as a logistics/accountant or other types of management or human resource department with decent overall salary structure of USD 80,000+ within three to five years of employment depending on prior service. Our salary survey guide for newly minted business PhDs in the multiple fields are available here for the various years. I do not know of the top of my head for finance, accounting or management but the survey for marketing is here: https://www.ama.org/who-went-where-survey/ you can click here for current marketing phd/professor job postings: http://marketingphdjobs.org/ the CV of current candidates are also linked to in the previous link. Again these results swing from year to year quite greatly as it seems schools also test market their postings and budget in some lee way. This is very dependent on your kind of research.. Behavioral/psychology, mathematics/non-linear programming, econometrics/statistics, management/decision science/strategy, business law/marketing history, logistics/supply chain. International or retailing. Some departments may have all or none of the above. When the USA economy is doing well and jobs are anticipated to rise or fall (increasing enrollment) research for fields like behavioral or retailing may be more valued and schools may focus less on hiring international or logistics. Very top schools hire in the mathematical/non linear programming and game theory areas and their research is very specialized and at least as sophisticated as what you can be expected to engage in if you stayed in your home department. This is true also of advanced psychology science or decision judgement making type research which publishes in journal of consumer research, psychological science, etc. For rankings, go to UT Dallas top 100 business schools and sort by the top four journals of the field you are interested in. I hope this helps.

Wow, top professors could possibly earn as much as $2,000,000-$4,000,000 ( 2 – 4 million dollars), which includes base salary, summer support, speeches, consulting, publishing articles etc. They could earn as much as $ 5,50,000 as base salary+summer support, $ 1-2 million from speeches (if they do 10-13 speeches at around $1,20,000 a speech), around $ 1 million from consulting & $5,00,000 from publishing articles

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New Insights on Business School Salaries and Demographics

Data from the 2019–20 Staff Compensation and Demographics Survey (SCDS), the most globally comprehensive data source of business school staff salaries in the world, are now available. This is the 52nd year that AACSB has collected data on faculty and staff. This year, 514 AACSB member schools representing a record number of 37 countries and territories participated. The results for this year include information for 34,621 full time business school faculty members across 35 business fields, along with data on 4,828 administrators.

As a part of their member benefits, participating schools can log in to DataDirect  and not only have access to this year's data but all previous years' survey data. They can select their own set of participating peer schools against which to benchmark trends. In addition, overview reports that consist of aggregate reports of all data submitted before the deadline can be accessed for free by participating members. Overview reports are available for purchase by individuals at non-participating schools, or those without the required access levels. 

Also available publicly is the SCDS Executive Summary . This year the summary features not only aggregated information about all participating member schools’ faculty and staff salaries, but also information about the average amount of time faculty members have been at their current institution. These data are grouped by discipline and faculty qualification types.

Last year, we shared some information about a unique feature of the SCDS, where information specific to AACSB faculty qualifications is collected. Full-time faculty members are categorized as either being a Scholarly Academic (SA), Practice Academic (PA), Scholarly Practitioner (SP), Instructional Practitioner (IP), or Unknown/Other (UN_Other). These categories, which are derived from the 2013 standards for accreditation, are based on the faculty members’ initial academic preparation, initial professional experience, and sustained academic and professional engagement.

For this year’s set of data, a majority of the full-time faculty (approximately 72 percent) are categorized as SA. This is also the case at each individual faculty rank, except for the instructor rank, where only 19 percent are categorized as SA and approximately 50 percent are categorized as IP (see Table 1).

Table 1. Percentage of Full-Time Faculty by Rank and Qualification

Average Salaries for Full-Time Faculty

Reporting individual full-time faculty salary data is optional on the SCDS, and this year 499 schools reported salary information for 33,440 full-time faculty. Salaries are reported as either nine-to-10-month (academic year) or 11-to-12-month (calendar year) annual contracts. For comparability, the data for this report were converted to U.S. dollars (USD) and 11-to-12-month salaries were multiplied by 0.818 to convert them to nine-to-10-month salaries.

The average salary across all full-time faculty was 131,000 USD. The average salary across all professors (or highest faculty rank, by whatever name) was 170,000 USD, for associate professors (or second faculty rank) it was 133,000 USD, for assistant professors (or third rank) it was 124,000 USD, and for instructors (or fourth rank) the average salary was 84,000 USD. When these figures are broken out by faculty qualifications, there is some variability across the ranks (see Figure 1).

For all categories except PA, the order of average salaries aligns with rank such that the average professor salary was highest, followed by associate professors, assistant professors, and instructors, respectively. For PA, professors and associate professors were still the highest and second-highest average salary, but in this category the average for instructors was higher than the average for assistant professors (103,000 USD vs. 95,000 USD, respectively).

Figure 1: Average Faculty Salaries by Rank and Qualifications

Demographics such as rank, qualifications, year hired, tenure status, and academic discipline are also a part of the SCDS data for full-time faculty. In addition, aggregated data on participating and supporting headcounts for both part-time and full-time faculty are also available.

More information on the types of data available in the SCDS via DataDirect can be found here in our AACSB Data Glossary. As always, please contact the AACSB BEI Business Education Intelligence team at [email protected] with any questions.

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PhD, Professor, and Postdoc Salaries in the United States

The United States is home to several of the world’s best universities making it a top destination for international researchers. Here’s a breakdown of the most common American job titles and their associated average annual salaries. All salary statistics in this article are in American Dollars (USD) and are pre-tax.

PhD Student

A Master’s degree is not always required to do a PhD in the US. Several top universities offer direct entry PhD programs. An American PhD begins with two to three years of coursework in order to pass qualifying exams. During this time doctoral students are able to develop their research interests and hone in on their thesis topic. They will then write a thesis proposal which must be approved before they can start their dissertation. Most programs require PhD students to gain two to three years of teaching experience as well, either by leading their own class or as teaching assistants for a professor. It takes an average of six years to earn a PhD in the US.

Unlike some European countries, there is no mandated minimum salary or national salary scale for PhD students in the US. PhD students ear n between $ 15,000 and $30,000 a year depending on their institution, field of study, and location. This stipend can be tax-free (if it is a fellowship award) or taxable (if it is a salary e.g from a teaching position). American PhD students are usually only paid for nine months of the year but many programs offer summer funding opportunities. A PhD funding package will also include a full or partial tuition waiver.

After earning a PhD, many researchers go on to a postdoc. A postdoc is a continuation of the researcher’s training that allows them to further specialize in a particular field and learn new techniques. Postdoc positions are usually two to three years and it is not unusual to do more than one postdoc. There is no limit on the number of years you can be a postdoc in the US. The average salary (2023 ) for postdocs in the US is $61,143 per year.

A lecturer is a non-tenure-track teaching position. They often have a higher teaching load than tenure track-faculty and no research obligations. These positions are more common in the humanities or as foreign language instructors. Lecturers hold advanced degrees, though not always PhDs. The average salary for a full time lecturer in 2021-2022 according to the American Association of University Professors was $69,499.

Assistant Professor

This is the start of the tenure track. An assistant professor is responsible for teaching, research, and service to the institution (committee membership). Assistant professors typically teach two to four courses per semester while also supervising graduate students. They are also expected to be active researchers and publish books, monographs, papers, and journal articles to meet their tenure requirements. The average salary for assistant professors in 2021-2022 was $85,063 according to the American Association of University Professors . 

Associate Professor

An assistant professor who has been granted tenure is then promoted to an associate professor. An associate professor often has a national reputation and is involved in service activities beyond their university. The average salary for associate professors in 2021-2022 was $97,734 according to the American Association of University Professors . 

This is the final destination of the tenure track. Five to seven years after receiving tenure, associate professors go through another review. If they are successful, they are promoted to the rank of professor (sometimes called full professor). Professors usually have a record of accomplishment that has established them as an international or national leader in their field. The average salary for professors in 2021-2022 according to the American Association of University Professors was $143,823. 

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Salary Outlook for PhD in Business Degree Grads

Created by Henry Steele

By Henry Steele - May 16, 2018

Earning a Ph.D. in Business Administration will provide you with the knowledge and skills for an academic career in business administration, as well as scholarly business administration research at the collegiate level. You also will develop advanced business management knowledge that can be applied to the private sector. A Ph.D. in business administration focuses primarily on developing new theories of business management, public administration, consulting, economics and related fields.

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If you are going to earn a doctorate in business administration, it will take a lot of time and effort. It is a full time commitment that will take at least four to five years. So it makes sense to research what your potential salary could be with this degree. This article details the following factors that may affect your salary with a Ph.D. in business administration:

• Whether you work in the public or private sector
• How many years of work experience
• Geographic location

Whether You Work in the Public or Private Sector

Generally, obtaining a master’s or doctoral degree will result in a higher salary. The Bureau of Labor Statistics reports earning a master’s degree can give you an average $12,000 pay raise over a bachelor’s degree. In some cases, earning a Ph.D. will result in a premium over a master’s degree.

For example, some surveys indicate earning a master’s degree in business will net you an average lifetime pay of $3.2 million, while earning a doctorate will increase that to $3.5 million. Earning a master’s in education will net you $2.2 million in earnings over your career, and a Ph.D. in the same field will net you $2.8 million.

So we can say generally that getting a doctorate will result in a higher salary. But a major factor in how much of a salary increase you will see is whether you are working in the public or private sector.

Many professionals with a Ph.D. in business administration work in the public or educational sector, but some do work in the private sector. Below is salary information from BLS that shows the wage premium earned for a variety of business related positions in the private sector with a graduate degree over a bachelor’s degree:

• Financial manager: $78,000/$110,000
• Market research analyst: $65,000/$90,000
• Distribution manager: $62,000/$90,000
• Marketing and sales manager: $80,000/$110,000

For education administrators, we see that you can earn $23,000 more with a master’s degree over a bachelor’s degree. BLS does not provide data about Ph.D. vs master’s salaries, but we can assume there is an increase in salary by earning the higher degree.

Also, later in this article we highlight salaries by job title, and this indicates that a professional with a Ph.D. in business administration will generally earn a higher salary by working in the private sector.

Ph.D. in Business Administration Work Experience

As in all career fields, the number of years of work experience you have will influence your salary. For example, if you become a professor with your Ph.D., Payscale.com reports the median salary across the US is $87,500. But this will vary depending upon your level of experience:

• Professors with less than five years of experience earn $60,000 per year
• Professors with five to 10 years of work experience earn $71,000 per year
• Professors with 10 to 20 years of work experience earn $86,000 per year
• Professors with more than 20 years of experience earn $99,000 per year.

On the other hand, some professionals with a Ph.D. in business administration go the private business route and become CEOs. Payscale.com reports the median salary for CEOs is $164,800. This also will vary with experience:

• Less than five years experience: $120,000
• Five to 10 years of experience: $154,000
• 10 to 20 years of experience: $193,000
• More than 20 years of experience: $229,000

Ph.D. in Business Administration Geographic Location

If you are a professor in a business college with your Ph.D., you will earn a higher salary in some parts of the country than others. The national average wage for this position is $87,300, but your salary can be higher or lower depending upon if you live in these cities:

• San Francisco: +49%
• Boston: +32%
• Los Angeles: +21%
• Indianapolis: +19%
• Philadelphia: +16%
• Seattle: +15%
• Chicago: 0%
• Baltimore: -6%
• Dallas: -8%
• Houston: -11%

For general salary for Ph.D. in business administration for all job titles, these are typical salaries for some cities across the US, according to Payscale.com:

• Wilmington DE: $156,300
• Los Angeles CA: $150,500
• Louisville KY: $94,750
• Chicago IL: $120,700
• New York City: $120,000

Ph.D. in Business Administration Job Title

The last major influence on what your salary could be with a Ph.D. in business administration is job title. Depending upon whether you get a job in academia or in a private company, your salary can vary widely.

Below is a sampling of the job titles and salaries that people with this degree have; this data was pulled from Payscale.com:

• Professor, Postsecondary and Higher Education: $116,435
• Chief Information Officer: $92,717
• Regional Vice President of Operations: $159,700
• Six Sigma Black Belt Project Manager: $83,600
• Director of Analytics: $113,576
• Healthcare Administrator: $131,800
• Adjunct Professor: $59,500
• Assistant Professor: $84,100
• Associate Professor: $97,000
• Senior Risk Manager: $139,000
• Director of Operations: $81,212
• IT Manager: $153,000
• Management Consultant: $75,800

On a related note, your salary with this degree also will be influenced by any specialty you choose. Many popular Ph.D. in business programs offer specialties that may pay more than others, such as accounting, finance, information systems, general management, operations management and entrepreneurship.

The information above provides some insights about what your salary could be with a Ph.D. in business administration. There are many career directions you can go in that will definitely affect your salary. Once you have determined exactly what you want to do with the degree, you can get a better idea of the salary potential.

• Should I Get a Master’s Degree? (2015). Retrieved from https://www.bls.gov/careeroutlook/2015/article/should-i-get-a-masters-degree.htm
• Ph.D. in Business Areas of Specialization. (n.d.). Retrieved from https://foster.uw.edu/academics/degree-programs/phd-program/major-areas-of-specialization/

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How to Become a Business Professor

Professionals who excel in business hone their abilities under the direction of a talented business professor. Learning to become a successful business leader requires a unique blend of business acumen, leadership talent, and emotional intelligence.

Whether working at a community college or an Ivy League school, business teachers have a significant impact on the careers of business professionals. They offer their students the theories behind the best approaches to business and ways to put those concepts into practice.

The path to becoming a business professor is long and challenging, but the rewards are worth the effort. As a professor, you get the opportunity to engage and inspire young, ambitious business students, helping shape the next generation of leaders.

Benefits of Business Professor Jobs

Why become a business professor? While many entrepreneurial stories focus on those who forged their own path toward financial success without the benefit of higher education, most had at least attended some college courses in their lives. Earning a degree is a proven pathway to success for making your mark in the modern business world.

That’s why business professors are so important. They train the next generation of leaders in the skills and knowledge they need to excel.

Business professors also enjoy many benefits. They include the following.

Making a Difference

The chief attraction to becoming a business professor is the same as it is with all education positions which is mainly making a significant, positive impact on the lives of others. Business professors play a key role in molding young minds and teaching them the right ways to achieve business success.

Great Demand

The overall demand for postsecondary educators is high. The United States Federal government projects a 9% increase in the number of professors by 2029. More professors are needed to serve the additional students entering college, especially non-traditional adult and returning students.

Great Salary

The salary range for business professors reached an average of $123,646 in March 2021. While salaries vary depending on the size and location of the academic institution, the salary range typically falls between $95,132 and $212,915. Salary is also impacted by years spent teaching, certificates earned, and any additional skills learned over the span of their academic career.

Stable Career

Most business professors enjoy a stable career where they have time for research and sabbaticals. While staff cutbacks are not unheard of, college professors typically endure less volatility caused by economic forces than other professions.

The Path to Becoming a Business Professor

Becoming a business professor requires a commitment to learning all the skills needed to teach others. Many turn to online business degree programs to earn a degree while maintaining their current job.

Typically, the path begins by earning an undergraduate degree. Touro University Worldwide offers an online business degree featuring a variety of concentrations. The Bachelor of Science in Business Administration and Management allows students to earn a degree with a concentration in accounting, entrepreneurship, human resource management, marketing, project management, homeland security, and criminal justice.

The next step is completing a graduate degree that allows you to start teaching at community colleges. TUW offers a wide variety of graduate degrees in business. They include:

• MS in Human Resource Management
• MA in Dispute Resolution
• MS in Business Analytics
• MA in Industrial and Organizational Psychology
• MA in Public Administration
• MBA with concentrations in Accounting, Artificial Intelligence (AI) Management, Cybersecurity Management, Finance, Global Management, Health Administration Management , Human Resources Management, Marketing, Nonprofit Management and Physicians and Healthcare Executives

Finally, those who aspire to teach at a four-year university must earn a doctorate. TUW offers both a Doctorate of Business Administration and an online Doctor of Management degree program .

TUW’s Doctor of Management Program

The TUW Doctor of Management program is designed to produce graduates ready to take on the challenges of working in academia. The program also serves senior executives and top managers who want to learn advanced theoretical analyses and develop applied research skills.

The 66 credits students earn in the program are divided into Theory, Applied Research, Application of Theory and Research, Proposal Development, and Doctoral Dissertation. Concentrations in the program include Strategic Innovation and Change and Organizational Leadership. Highlights of the Doctor of Management curriculum include:

Evidence-Based Practices in Management . Students examine theoretical methods and the six key domains of Evidence-Based Management (EBM). Students learn about evidence-based practices in management that value ethics in determining solutions to various managerial challenges.

Refining the Research Topic and Literature Review . This course introduces students to the conceptual framework of a dissertation. Students draw upon everything learned in the program to start a preliminary dissertation proposal that hones the research topic, underlying theories, fundamental literature and identifies the proposed research methodology.

Doctoral Dissertation courses . The TUW program includes five courses for the student’s doctoral dissertation, guiding students from the beginnings of research to completing, preparing, and successfully defending their doctoral dissertation.

Students completing the doctoral program are prepared to earn a job as a college business professor. While the academic road is challenging, the result is an opportunity to focus all the lessons learned on teaching future generations of business leaders.

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Average Professor Salary -

2023 average professor salary by state.

• Rhode Island has the highest Professor salary of $123,318 and Kansas has the lowest Professor salary of $69,107.
• For public schools, California has the highest Professor salary of $140,351 and Kentucky has the lowest Professor salary of $70,177.
• For private schools, Rhode Island has the highest Professor salary of $127,511 and New Mexico has the lowest Professor salary of $43,256.
• For national universities, New Hampshire has the highest Professor salary of $183,583 and Mississippi has the lowest Professor salary of $89,482.
• For liberal arts colleges, Colorado has the highest Professor salary of $142,287 and Idaho has the lowest Professor salary of $41,379.
• For community colleges, Hawaii has the highest Professor salary of $103,412 and North Carolina has the lowest Professor salary of $52,974.

Comparison of 2023 Professor Salary by State

Here are the average salaries of professors at all 8 Ivy League schools

• Professors at top schools can make more than $175,000 a year.
• Harvard University professors make the most compared to other Ivy League faculty members — they earn $226,394 per year.
• Here are the average yearly salaries of professors at all 8 Ivy League colleges.
• Visit Business Insider's homepage for more stories .

Professors at Ivy League universities and colleges hold some of the most prestigious jobs in the country. Therefore, it should come as no surprise that Ivy League professors are paid generously for their contributions to education. 

Professor salaries can differ depending on the school, and whether the university or college is public or private.

According to data collected by The Chronicle of Higher Education , Ivy League professors all made upwards of $175,000 a year in 2017. Comparatively, the average base salary for a college professor in 2019 is $94,868, according to Glassdoor . 

Read more: Every Ivy League university ranked from least to most expensive

Here are the yearly salaries of professors at all 8 Ivy League colleges, ranked from lowest paid to highest. 

Cornell University: $175,682

Out of all the Ivy League institutions, Cornell professors make the least. However, that isn't to say that they aren't paid generously. Cornell pays their professors an average of $175,682 a year — roughly $80,000 more than the national average salary for college professors. 

Brown University: $181,173

In 2018, Brown University employed 1,023 instructional faculty members. According to The Chronicle of Higher Education, the average salary for a Brown University professor is $181,173 .

Dartmouth College: $188,163

The 2019 tuition and fees cost for attending Dartmouth College is $76,623   per year, according to the school's website. Professors at Dartmouth make $188,163 per year on average.

Princeton University: $213,769

Princeton is a not-for-profit university in Princeton, New Jersey. The average salary of a professor at Princeton is $213,769 per year. The student to faculty ratio is 20% . 

Yale University: $214,575

The cost of attending Yale University in New Haven, CT is $53,430 . Professors there are paid $214,575 . It is classified as a research university by Carnegie Classification and the highest degree you can receive from Yale is a Doctorate. 

University of Pennsylvania: $217,411

University of Pennsylvania professors are paid generous salaries — they make an average of $217,411 per year. There are more than 5,000 professors at Penn, and they offer " an integrated, multi-disciplinary point of view," according to the university's website. 

Columbia: $223,427

At $223,427 a year, Columbia professors make the second-highest salaries. Columbia has a total enrollment of 30,454 students and employs 4,205 faculty members. The cost to attend Columbia is $59,430 per year.

Harvard University: $226,394

Harvard professors make the most out of all Ivy League professors. They earn an average of $226,394 each year. Student tuition is $50,420  per year and total student enrollment is 31,120.

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What Are the Career Options With a PhD in Business?

The Master of Business Administration (MBA) is commonly referred to as one of the leading graduate degree programs for business professionals, particularly those who want to pursue leadership opportunities within their chosen field.   

However, many passionate businesspeople find themselves wondering, "Can you get a PhD in Business?" The answer, of course, is yes: A doctorate degree in business is ideal for those looking to push the boundaries and explore in-depth business topics related to their personal career goals, along with anyone who may be interested in business ownership or senior management opportunities.  

Understanding the Value of a PhD in Business  

Compared to other graduate degree programs in business administration, the doctorate in business is a relatively new addition. According to  Coursera , Harvard University was the first university to offer a PhD in Business, with the elite Ivy League school introducing it to its offerings in the 1950s. Yet, over the course of the past several decades, the Doctor of Business Administration degree and other doctoral degrees in business have made their mark on the industry.  

At one time, the MBA degree was considered the qualifying degree for managers and senior-level executives. Recently, according to  Harvard Business Review , advances in technology as well as shifts in business demands have increased the need for highly specialized business professionals, ultimately boosting the value of a PhD in business.  

Reasons to Pursue a PhD in Business  

Pursuing a Doctor of Business Administration (DBA) or another doctoral degree in business can be incredibly rewarding, and not just on a personal level. These are some of the top reasons why business professionals enroll in a doctorate business degree program:  

• It provides them with a competitive advantage in an industry infiltrated with qualified professionals.  
• It offers access to exclusive research opportunities, allowing them to better align their interests and passions with their career goals.  
• It can give them an opportunity to curve their career path toward a new goal, such as working in academia or pursuing business ownership.  

The Journey Toward a PhD in Business  

Admissions criteria for a PhD in business program vary based on the school you are considering. However, most universities that offer a doctorate in business require applicants to:  

• Have spent several years working in the business profession and gaining relevant experience.  
• Have showcased an interest in research and participated in a research-based project.  
• Have earned an MBA degree or another relevant graduate degree.  

Exploring Career Paths for PhD in Business Graduates  

Doctoral degree programs are generally associated with careers in academia. Though that is certainly an option for graduates who earn a PhD in business, there are also a variety of exciting and interesting career pathways to explore:  

A Career as a Business Consultant  

Consulting is one of the most dynamic fields within the world of business. As a business consultant, you would have the opportunity to work directly with the owners of a business or upper management to create a business plan, establish goals and create a strategy to reach those goals. According to  Glassdoor , business consulting professionals earn an average salary of about $99,000 per year.  

To become a business consultant, you need a strong foundation in the best business practices and a broad range of knowledge of numerous industries—making this a good fit for graduates with a PhD in business. According to  Indeed , common business consultant job responsibilities include:  

• Developing a marketing strategy designed to improve brand awareness among a target market segment.  
• Providing relevant information about new technology that can help streamline business operations.  
• Reviewing financial procedures to identify new opportunities for revenue growth or ways to reduce costs.  
• Creating a strategy to attract top talent and retain existing employees.  

Opportunities as a C-Suite Executive  

Earning a doctorate in business can help you reach those coveted C-suite positions. The C-suite is defined as the top tier of any organization, and the executives who work at the C-level include:  

• Chief executive officer (CEO)  
• Chief operating officer (COO)  
• Chief financial officer (CFO)  
• Chief marketing officer (CMO)  
• Chief information officer (CIO)  

Depending on the size and scope of the organization, there may be other C-level positions available.  

Rather than delegating tasks and managing the progress of individual departments, C-level executives work to make strategic decisions that will guide the organization toward long-term success. Given their roles in the top tier of the company, it's not surprising that these are some of the most lucrative positions.  ZipRecruiter  notes that top earners within the C-level executive workforce earn as much as $138,000 per year.  

The Role of an Economist  

Within a business doctoral degree program, you have the opportunity to specialize, and students who are particularly interested in economics can position themselves to take on the role of an economist after graduation.  

An economist is a professional specializing in economic research, often collecting data related to upcoming economic trends and working to forecast economic fluctuations. As experts in economic theory, economists can provide organizations with actionable insight to help guide their short-term and long-term business strategies.  

Economists play a valuable role in any business organization, regardless of its industry or sector. The primary responsibilities of an economist include:  

• Collecting economic data  
• Conducting economic forecasting  
• Assisting with budget preparation  
• Explaining economic theories in relatable and relevant ways  
• Publishing research and data-based projects to highlight economic trends  

The  Bureau of Labor Statistics  (BLS) notes that demand for economists is expected to grow by about 6 percent between 2022 and 2032, which is faster than average compared to other occupations, and the median annual salary for economists is currently almost $114,000.  

Academia: Becoming a Professor  

The world of academia is appealing to doctoral students, especially those who enjoyed their business school experience and want to be part of the movement to educate the next generation of business professionals.  

Business professors, however, are more than just teachers. At their core, these professors are researchers who specialize in a niche area of business and work to publish their findings on a regular basis. Becoming a professor is an opportunity for you, as a business professional, to focus on an aspect of business you are passionate about while simultaneously educating up-and-coming business leaders.  

According to the  BLS , the job outlook for professors is favorable. The number of available jobs is expected to increase by about 8 percent between 2022 and 2032, which is faster than average. Currently, the median annual salary for a professor is about $80,000.  

Working for Think Tanks and Research Groups  

Think tanks and research groups are specialized organizations focused primarily on conducting research that advocates or supports a specific cause. According to  ZipRecruiter , individuals who work at think tanks or research groups often collaborate in order to:  

• Provide reports and documents that support legislative efforts.  
• Partner with experts on particular issues to advocate and generate support for their cause.  
• Partner with others in the industry to help further their cause.  

Although a bachelor's degree is typically required for an entry-level position at a think tank, many of the most involved and impactful think tanks prefer candidates with a graduate-level degree. The analytical and critical thinking skills required to work at these organizations makes it an ideal fit for anyone with a PhD in business or DBA. According to  PayScale , the average annual salary for a position at a think tank is about $63,000.  

Entrepreneurship and Entrepreneur Advisor  

Entrepreneurs and entrepreneur advisors are independent, motivated business professionals who are driven by the concept of bringing a dream to life. Entrepreneurs often work to market their own products and services and strive to become their own boss. While the success of an entrepreneur largely depends on their own level of commitment and their connections in business,  Indeed  notes that an entrepreneur can earn more than $94,000 per year.  

Assisting Government Agencies  

Business experts, including graduates with a PhD in business, are well-qualified to work at a wide range of government agencies. You may be able to assist government agencies in the following types of roles:  

• Human resource specialist – Median annual salary of $64,000  
• Marketing specialist – Median annual salary of $68,000  
• Financial analyst – Median annual salary of $96,000  
• Risk management – Median annual salary of $102,000  

Employment Outlook for PhD in Business Graduates

Employment trends show that higher levels of education are required in order to gain entrance to the work force, increasing the demand for doctoral graduates in nearly every industry. According to the  BLS , employment levels in doctoral and professional occupations are expected to increase by more than 13 percent, whereas employment growth across all occupations is only expected to grow by 7 percent.  

Within the world of business, specifically, the employment outlook for DBA graduates is positive. Overall employment in business and finance is expected to increase by more than 910,000 jobs each year between 2022 and 2032. Those holding a PhD in business would have a distinctive set of advanced skills and have acquired niche business knowledge that could offer them the competitive advantage in this growing sector.  

Salary Expectations for PhD in Business Graduates

Graduates who earn a PhD in business are qualified for high-level, executive positions in business, which can increase their earning potential overtime. For example, some positions for which a graduate with a doctoral degree in business may be qualified include:  

• Chief executive – Responsible for guiding the overall direction of a company, the chief executive is often considered the top leader in the organization. This position earns an average salary of $189,000 annually.  
• Market research analyst – Specializing in advanced research techniques to uncover trends and preferences in specific markets, market research analysts are critical to the success of any organization. This position earns an average salary of $68,000 annually.  
• Business professor – Conducting research and instructing business students at the collegiate level, business professors play a pivotal role in nurturing the next generation of business leaders. The median annual salary for postsecondary educators is nearly $81,000.  
• Management analyst – By monitoring and evaluating an organization's practices, a management analyst makes expert recommendations to improve efficiency and outcomes. The median annual salary for this position is about $95,000.  

How Does Geographic Location Impact Job Opportunities for PhD in Business Graduates?  

Generally speaking, your geographic location would likely have little influence over your job prospects after graduating with a PhD in business. This is especially true in the post-pandemic era, when more people have grown accustomed to remote work and geographic location does not necessarily limit a person's ability to accept a job opportunity.  

Focus on enrolling in a well-respected, high-quality doctorate program, as this would have a larger impact on your professional success than your personal geographic location.  

Are There Any Unique Job Roles for PhD in Business Graduates?  

Graduates who earn a PhD in business may have access to high-level job opportunities featuring specific requirements. Some unique job roles for which those with a DBA or PhD in business may be qualified include:  

• Consultant  
• Entrepreneur  
• Economist  
• Government agent  

For the most part, you will find that this advanced business degree provides you with the flexibility and versatility you need to personalize your career path moving forward.  

Earn Your PhD in Business at University of the Cumberlands  

At University of the Cumberlands, we offer an  online PhD in Business  that allows experienced professionals the opportunity to elevate their careers and dig deeper into their passion for best business principles. With a focus on business philosophy and evidence-based practices, this doctorate program is designed to help hone your skills, expand your knowledge and give you the ability to shift your career toward achieving your personal goals.  

Request more information  about our doctoral degree programs today.   

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PhD Salaries and Lifetime Earnings

PhDs employed across job sectors show impressive earning potential:

“…[T]here is strong evidence that advanced education levels continue to be associated with higher salaries. A study by the Georgetown Center on Education and the Workforce showed that across the fields examined, individuals with a graduate degree earned an average of 38.3% more than those with a bachelor’s degree in the same field. The expected lifetime earnings for someone without a high school degree is $973,000; with a high school diploma, $1.3 million; with a bachelor’s degree, $2.3 million; with a master’s degree, $2.7 million; and with a doctoral degree (excluding professional degrees), $3.3 million. Other data indicate that the overall unemployment rate for individuals who hold graduate degrees is far lower than for those who hold just an undergraduate degree.” - Pathways Through Graduate School and Into Careers , Council of Graduate Schools (CGS) and Educational Testing Service (ETS), pg. 3.

Average salaries by educational level and degree (data from the US Census Bureau, American Community Survey 2009-2011, courtesy of the Georgetown University Center on Education and the Workforce):

The Bureau of Labor and Statistics reports higher earnings and lower unemployment rates for doctoral degree holders in comparison to those with master’s and bachelor’s degrees:

According to national studies, more education translates not only to higher earnings, but also higher levels of job success and job satisfaction:

“Educational attainment – the number of years a person spends in school – strongly predicts adult earnings, and also predicts health and civic engagement. Moreover, individuals with higher levels of education appear to gain more knowledge and skills on the job than do those with lower levels of education and they are able, to some extent, to transfer what they learn across occupations.” - Education for Life and Work (2012), National Research Council of the National Academies, pg. 66.

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Adjunct Faculty, Accounting (Fall 2024 and Spring 2025)

Job posting for adjunct faculty, accounting (fall 2024 and spring 2025) at dominican university.

• Accounting 102 – Managerial Accounting (Fall and Spring)
• Accounting 312 – Income Taxation of Individuals (Fall)
• Accounting 411 – Accounting Information Systems (Fall)
• Accounting 201 – Introduction to Data Analytics in Accounting (Spring)
• Accounting 311 – Intermediate Financial Accounting II (Spring)
• Accounting 412 – Auditing (Spring)
• Accounting 604 – Accounting for Managers (Spring)
• Accounting 701 – Accounting Data Analytics and Visualization (Spring)
• Accounting 711 – Federal Taxation of Individuals (Spring)
• Accounting 716 – Audit and Assurance Services (Spring)
• Minimum of a Master’s degree in Accounting, or a PhD with an emphasis in accounting
• Licensed or registered CPA, CMA
• At least 5 years of business-related work experience in accounting
• At least 2 years of demonstrated teaching experience (experience with Canvas Learning Management System preferred)
• Excellent oral and written communication skills
• Access to personal technology and the ability to teach virtually (asynchronously or synchronously)
• Adhering to the university policies, procedures, and university calendar with respect to reporting information to university offices
• Administering student evaluation, timely and accurate submission of required paperwork related to instruction, including grades and course evaluations
• Grading weekly assignments, responding to student emails and phone calls promptly and providing feedback in a timely manner.
• Preparing course materials, including writing test questions and delivering assignments appropriate to subject matter
• Meeting with students in-person or on Zoom and hosting office hours
• Adhering to the goals and objectives of the course, including delivery of assessments to the Department Chair and senior faculty in accounting

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California Today

Richard Lyons, Former Business School Dean, Will Be U.C. Berkeley’s New Chancellor

The appointment comes as Berkeley and college campuses across the country are facing turmoil over free speech, racial and political diversity, and affordability.

By Jill Cowan

Richard Lyons, an economist and a former dean of the business school at the University of California, Berkeley, will be the university’s next chancellor, the university announced Wednesday.

Lyons, a graduate of U.C. Berkeley, was chosen for the job in a lengthy selection process after the school’s current chancellor, Carol T. Christ, announced that she would retire this summer. The University of California Board of Regents voted unanimously on Wednesday to make the choice official. Lyons will take over on July 1.

“It’s one thing to find a person with the appropriate academic and research credentials, the necessary leadership experience and an understanding of what it takes to lead a successful research university in the public setting,” Michael Drake, the president of the University of California, said during the board meeting. “It’s quite another to find a candidate who brings all of that, along with a deep understanding of the landscape in California and an intrinsic love for U.C. Berkeley itself.”

Lyons’s appointment as the university’s 12th chancellor comes as colleges across the country are facing turmoil on campus over free speech, racial and political diversity, and affordability.

Protests over the war in Gaza, and accusations of antisemitism on campuses in particular, have pushed leaders of some of the country’s top universities into the spotlight, where they have faced a barrage of criticism from students and faculty, as well as from politicians.

Though Berkeley is a public institution with a storied history of protest, Christ has largely avoided becoming the center of similar controversies. But recent incidents have tested the university.

On Tuesday, video showed a law professor, Catherine Fisk, trying to grab a microphone and cellphone from a student who had stood up to speak on behalf of Palestinians at a student dinner that Fisk was hosting at her home with her husband, Erwin Chemerinsky, the law school dean.

Pro-Palestinian groups said that the student, Malak Afaneh, who belongs to Berkeley Law Students for Justice in Palestine, was assaulted and that her free speech rights were violated. Chemerinsky said in a statement that the student’s actions were an inappropriate attempt to turn a social occasion at his home into a forum for political speech.

At a news conference after the board’s vote, Lyons did not discuss that incident or other recent protests, noting that he had not yet taken over as chancellor.

But he said that campus officials were considering how to balance the need to protect free speech and keep Berkeley an open “marketplace for ideas” against rules to ensure that protests and speech do not infringe upon the rights of others.

“The world is changing, especially in this area, and we as higher education leaders need to change with it,” he said. “I do believe that if we’re transparent, if we’re thoughtful, if we are listening to the community as much as possible, that we will be able to move forward.”

Lyons — whose only time away from Berkeley since 1993 was when he served as chief learning officer at Goldman Sachs from 2006 to 2008 — is the second business school dean to be tapped recently for a top university job in the Bay Area. Stanford University announced last week that Jonathan Levin , the dean of its graduate business school, would become its new president. He will succeed an interim leader who stepped in last summer when the previous president resigned over questions about the quality of his academic research.

On Wednesday, Lyons emphasized his business background and said that he planned to seek ways for the university to begin “participating in the economic value we’re creating in fresh ways.”

In California, state funding for public universities has slowed over the decades, including for the University of California, frequently called the state’s crown jewel. At the same time, housing costs have skyrocketed in communities where there are U.C. campuses, making it difficult for faculty and students to get by.

The housing problem has led to clashes over the fate of People’s Park in Berkeley, where the university plans to build housing for students and homeless people. (Lyons says he agrees with how Christ has handled that situation.)

U.C. campuses are also some of the most productive research institutions in the world. Lyons said he hoped to expand opportunities to invest in research with more of the returns going back to the university, and to solicit donations more effectively from wealthy alumni whose fortunes are rooted in their time at Berkeley.

It’s an approach that has drawn skepticism from some faculty members.

“Private funds cannot begin to replace the scale of lost public investment,” the board of the Berkeley Faculty Association wrote this month in an open letter to the incoming chancellor. The letter also called for more faculty input and transparency in decision-making.

“If you wish Berkeley to remain the best public university in the world, you must improve the working conditions of faculty, restore faculty governance and protect academic freedom,” the letter said. “We wish you good luck.”

The rest of the news

The K-Pop act NewJeans has asked a federal court in California to order Google to release the identity of the person behind a YouTube account that the members say is spreading defamatory statements about them.

Cornel West, the independent presidential candidate, has chosen Melina Abdullah, a Black Lives Matter activist and professor at California State University in Los Angeles, as his running mate.

Federal fishery managers voted on Wednesday to cancel all commercial and recreational salmon fishing off the coast of California for the second year in a row, and only the fourth time in state history, because of dwindling stocks, The Associated Press reported.

Southern California

Ippei Mizuhara, the former translator for the L.A. Dodgers star Shohei Ohtani who is accused of stealing millions of dollars from Ohtani to cover gambling debts, is in negotiations to plead guilty to federal crimes in connection with the purported theft .

The Metropolitan Water District of Southern California will raise water charges and property taxes for its customers over the next two years in an effort to make up for revenue declines from conservation efforts related to climate change, Newsweek reports.

One of Malibu’s most exclusive spas, which specializes in long hikes and communal vegan meals , is opening an outpost in the Hudson Valley in New York.

Central California

The intersection of Friant Road and Shepherd Avenue in Fresno is so dangerous that there is a YouTube channel, named the Friant Roulette, dedicated to documenting the crashes that happen there, The Modesto Bee reports.

Northern California

Rescuers are searching for a gray whale that was last spotted off the coast of Northern California with its tail caught in a gill net, The Associated Press reports.

And before you go, some good news

Milo F. Bryant, a trainer based in San Diego, shared ideas about how to build an exercise habit without having to spend thousands of dollars . Building an inexpensive home gym is a great starting point, consisting of some combination of exercise ropes, bands or maybe barbells.

Another frugal way to work out is rucking, which is essentially walking or running with weight on your back. Instead of splurging on a special backpack specifically for rucking, just fill an ordinary backpack with books or bottles of water. Bryant says there are even exercises to do at the local playground.

Thanks for reading. We’ll be back tomorrow.

P.S. Here’s today’s Mini Crossword .

Because of an editing error, yesterday’s newsletter referred incorrectly to vacant commercial space in the Hollywood Entertainment District. The vacancy rate is 30 percent for street-level space along Hollywood Boulevard in the district, not for the district as a whole.

Maia Coleman , Sofia Poznansky and Briana Scalia contributed to California Today. You can reach the team at [email protected].

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Jill Cowan is a Times reporter based in Los Angeles, covering the forces shaping life in Southern California and throughout the state. More about Jill Cowan