The quality of research and teaching found among a business school’s faculty are integral to the esteem in which its MBA programs are held. So, what can a school do when it wants to boost its profile and climb the rankings? Bring in new faculty, of the caliber capable of effecting this desired outcome.
Of course, in order to hire new professors, sometimes you have to free up space and finances taken up by the existing faculty – which is why GW School of Business, George Washington University has offered a number of long-standing faculty members ‘buy-out’ deals, according to the university’s student newspaper, The GW Hatchet.
The report says that GW School of Business is targeting faculty members earning over US$100,000 who have been with the school since 1990, with four deals designed to induce them to step aside, from an academic year’s paid research to a one-off payment. One unnamed professor at GW School of Business said that roughly 30 faculty members had been offered deals.
This would make GW School of Business the fourth school at the university in five years to employ such tactics – a similar move at the engineering school is said to have resulted in 15% of faculty taking up a deal, something that has since allowed it to bring in younger recruits with a high potential for future quality of research.
“This type of program enables a school to develop new faculty recruiting plans and provides the flexibility to hire new faculty in areas of strategic value to the school and the university, and to do so in an orderly fashion,” Maralee Csellar, a university spokeswoman, told The Hatchet.
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