Academic journal article New England Journal of Entrepreneurship

An Examination of Job Opportunities, Candidates, and Salaries in the Field of Entrepreneurship

Academic journal article New England Journal of Entrepreneurship

An Examination of Job Opportunities, Candidates, and Salaries in the Field of Entrepreneurship

Article excerpt

Entrepreneurship education continues to be a popular area of study within Schools of Business in higher education. Despite this, virtually little research has been done on salaries within the field. If the field can understand the trends occurring with salaries and how they compare with other more established fields (e.g., finance, accounting, marketing, etc.), it can determine whether it is becoming institutionalized within Schools of Business in higher education. The purpose of this study is to determine if the field of entrepreneurship is becoming increasingly institutionalized by examining salaries. The study also examines the current market trends (jobs and candidates) and Association to Advance Collegiate Schools of Business (AACSB) jobs in the field of entrepreneurship.

Institutional theory (Meyer and Rowan, 1977; Loundsbury, 2002; Bruton, Ahlstrom, and Li, 2010) posits that organizations operating in institutionalized environments are acting in a legitimate manner by adopting the structures and activities perceived to be legitimate by their critical external resource providers (Finkle and Deeds, 2001). In essence, by adopting appropriate structures the organization increases its legitimacy and is able to use this legitimacy to increase its support and ensure its survival (Dowling and Pfeffer, 1975; Meyer and Rowan, 1977). In other words, are entrepreneurship faculty earning competitive salaries? The importance of understanding whether the field of entrepreneurship is becoming institutionalized is critical to the legitimacy, growth, and sustainability of the field.

The study answers the following research questions: (1 ) What are the market trends for entrepreneurship faculty? (2) What are the market trends forfaculty in higher education for tenure track positions in entrepreneurship (including tenure track AACSB positions)? and (3) Are the average salaries of entrepreneurship faculty at AACSB schools competitive with other more established fields such as finance, accounting, management, and marketing?

The results of this study provide updated information in regards to jobs, candidates, and tenure track positions. But more importantly, it investigates the trends that are currently occurring to salaries within the field. Sparse research exists in this area. The findings of this study can make a significant impact on how the field compares to other disciplines. Furthermore, the findings will provide faculty, doctoral students, and administrators with information to be proactive with their strategies in the workplace.

Previous Research

Several studies have examined market trends and AACSB jobs in the field of entrepreneurship. Finkle and Deeds (2001 ; 2002) pioneered the first study on the growth in the field of entrepreneurship in regards to job opportunities and candidates. Their findings concluded that the field was becoming increasingly institutionalized, but came up short in a number of areas (e.g., most of the positions were not tenure track, there was no mandate for entrepreneurship education, entrepreneurship was primarily an elective, and departments were rare). They concluded that the field had a long way to go to become institutionalized.

Other researchers investigated the growth of entrepreneurship centers (see Finkle, 2007a; 2007b; 2008; Finkle and Kuratko, 2004; 2006; Finkle, Kuratko and Goldsby, 2006a; 2006b; Finkle, Menzies, Kuratko and Goldsby, 2010; 2012; 2013). Based on their findings, the field of entrepreneurship has become increasingly institutionalized due to the growing number of entrepreneurship centers. Entrepreneurship centers measure an institution's commitment to entrepreneurship. They must dedicate resources to hire a director and almost all centers have a curriculum. These centers also bring legitimacy to a school's entrepreneurship program.

Another area that has been investigated is tenure. If entrepreneurship faculty is getting tenure, this would certainly be a measure that the field is increasingly becoming institutionalized. …

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