By Dr. Vlad Krotov
As a way to attract and retain quality employees who can support the mission and goals of the college, internationally accredited business schools generally offer above-average market compensation to their faculty and staff.
According to AACSB’s 2019–20 Staff Compensation and Demographics Survey, the overall average nine-month salary for faculty at AACSB accredited schools (across all ranks and disciplines) is approximately 131 thousand USD; the median is 12 thousand USD. ZipRecruiter, a leading employment website in the United States, reports that the average compensation for a business school professor in the United States in 2023 is approximately 103 thousand USD. The compensation offered by AACSB-accredited schools is therefore noticeably higher than the market average.
References
AACSB (2023). 2019–20 Staff Compensation and Demographics. Retrieved from https://www.aacsb.edu/insights/data-insights/staff-compensation-and-demographics-survey
ZipRecruiter (2023). Business School Professor Salary. Retrieved from https://www.ziprecruiter.com/Salaries/Business-School-Professor-Salary