The CareerJournal reports on a trend, previously mentioned in this blog: a growing shortage of PhDs who want to teach business at the country’s universities. B-school deans are having to deal with growing numbers of retiring faculty at the same time that the number of new PhDs is declining…and many of the newly minted PhDs don’t want to go into academia.
What does this mean for MBA applicants? More online courses. Larger classes. Higher tuition as competition pushes up faculty salaries. And more lecturers coming from business, as opposed to academia.
For more thoughts on the topic, please see my Q&A with Dean Mark Rice of Babson . He foresees an innovative response to the PhD shortage.