Donor & Alumni Stories...
Corporate Partners Help Retain World Class Faculty - 05/01/2012
The Kelley School is fortunate to have the backing of our loyal corporate partners in providing faculty chairs, professorships, and fellowships. These special awards make a difference in our ability to attract and retain high quality faculty in today’s competitive environment.
The coming decade will bring additional challenges where faculty are concerned.
We are on the verge of an era of high faculty demand and low supply. Business schools nationwide are already feeling the effects of the incoming wave of massive faculty retirements. We are nearing the cusp of this wave ourselves as approximately one third of the Kelley School of Business faculty is eligible for retirement over the next few years.
Exacerbating the rising demand for business doctorates is the explosive growth of business schools outside of the U.S. as education is rapidly globalizing. In 2000, there were only 21 AACSB (Association to Advance Collegiate Schools of Business) accredited business schools outside of the U.S. Today over 150 member institutions outside of the U.S hold AACSB accreditation. Many of these newly AACSB-accredited business schools are aggressively seeking to hire U.S. trained faculty, both new doctorates and experienced faculty.
There are no easy answers to the looming crisis. Reduced state appropriations for public universities and the resulting budget constraints facing business schools make what would seem to be the obvious solution—simply ramping up the production of new business doctorates—unlikely to happen. The financial model of doctoral programs is different from other programs. Quite simply, doctoral programs are expensive. A school loses money for each doctoral student it educates.
With these massive faculty shortages on the horizon, it’s clear that public schools like the Kelley School of Business will have to rely more and more on the ability to offer chairs, professorships and fellowships to attract and retain the kind of quality faculty that will keep us among the premier business schools in the country. We wish to recognize and thank the following companies for their generosity, and support of our faculty and our mission to transform lives, organizations and communities through education and research.
Ernst & Young
Monroe Shine Co.
For more information regarding this story, please contact
Pam Warden - Kelley School of Business, Office of Development & Alumni Relations.