An examination of the job market for entrepreneurship faculty from 1989 to 2014

ABSTRACTUtilizing institutional theory this article examines data based on the trends in the market for entrepreneurship faculty over the past 25 years. Data is provided from June, 1989 through June, 2014 on advertised candidates and positions throughout the world. There were several significant findings in this study. During the most recent year, 2013/14, there were 258 advertised positions (both tenure track and non tenure track) for entrepreneurship faculty in Schools of Business and Management. Dining the same timeframe, the number of advertised candidates was 147. The ratio of total jobs per candidate during 2013/14 was 1.76. This ratio is favorable to candidates seeking employment, however it must be noted that these positions included full-time tenure track, visiting professorships, instructors, adjuncts or part-time positions.The number of candidates (147) dropped to a level that we have not seen since 2005/06 and 84% below its peak in 2008/09 (270). Some possible explanations for this trend may be related to the economy, commitment, and supply versus demand. There could be a hangover effect from earlier years where candidates had problems finding tenure track positions. For example, in 2008/09 there were almost 100 more tenure track candidates than tenure track positions (260 versus 165). In 2010/11 and 2011/12 there were another 50 candidates more than tenure track openings. Furthermore, if we go back four to five years, the typical amount of time to earn a Ph.D., we were in the middle of the financial crisis. It could be that potential doctoral students were afraid to make a long-term commitment due to the global economic crisis. Related issues may be that potential doctoral students were afraid of leaving their current jobs or they may have been afraid of their inability to sell their houses during a housing depression. Another reason might be a reduction in doctoral admissions as doctoral programs can be costly to run. The same thing can be said for international candidates in 2013/14 as those numbers dropped to 44 from a peak of 81 in 2011/12.During 2013/14, the number of tenure track positions (150) was slightly higher than the number of tenure track candidates (138). The findings show that the number of tenure track candidates in 2013/14 dropped to the second lowest level since 2005/06. Senior positions continue to be in high demand with 52% of tenure track jobs advertising for senior level positions. Schools are also recruiting more candidates with a primary area in entrepreneurship.INTRODUCTIONThis article examines faculty trends within the field of entrepreneurship. It comes at a very important time to candidates and Schools of Business and Management. Entrepreneurship is no longer a young and emerging academic discipline. It has become increasingly popular and more competitive. As such, it is vital that faculty seeking jobs in the global market understand the past and current trends that are happening so they can maximize their career paths. Likewise, Schools of Business and Management should take notice of the findings to understand the competitive landscape when they seek candidates and potential doctoral candidates.This study comes during a time of slow recovery from the worst economic event since the Great Depression of 1929. The world is now in its five year of recovery since the bottom of the Great Recession in March, 2009. Globally, we are still undergoing deleveraging, which could last anywhere from 10-15 years since 2009.The trends within higher education are troublesome. The cost of higher education is enormous with students coming out of schools with a huge debt burden. According to CnnMoney.com, the average amount of student loan debt for those leaving a US college with an undergraduate degree in 2012 was $29,400 (Ellis, 2013). Mitchell (2014) reported that the median debt for graduate students at the end of 2012 was $57,600, 43% higher than 2004. …