For that MBA Question

Old Mar 26th 2003, 10:20 am
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Default For that MBA Question

Canadian b-schools are facing what may be an unprecedented drought of faculty
and other resources -- making Thorn's experience all too common north of the
border. As Canadian colleges break away from dependence on government funding
and privatize their business schools, the country's top five b-schools are
raising tuition, launching capital campaigns -- and grumbling. After so many
years of feeding at the public trough, "the b-schools don't have an economic
model that works," says Roger Martin, dean of the Rotman School of Management
at the University of Toronto.
That spells trouble if the schools want to recruit and retain top teachers, and
even more if they want to attract students from across the world. Don
Nightingale, associate dean at Queens School of Business in Kingston, Ont.,
says that his school's challenge is to keep up with the salaries U.S. schools
are paying. Western Ontario's Richard Ivey School of Business has lost three of
its 43 professors to U.S. competitors in the past 18 months, a higher number
than usual. "They offered packages we couldn't match," says Lawrence Tapp, the
school's dean. The average faculty member at Toronto's Rotman School earns
$66,000, says the school's dean, Roger Martin, vs. the $140,000 or more that
top faculty earns in the U.S. "Canadian salaries haven't kept pace."

A bigger knock against Canadian b-schools is that their graduates don't
command salaries as high as those of U.S. graduates. Post-MBA salaries of
graduates from Queens, Ivey, Schulich, and Rotman rose 61% vs. their pre-MBA
salaries, compared with the 82% hike their U.S. counterparts commanded. And
Canadians rarely get the same sign-on perks. At those four schools, students
averaged just $800 in signing bonuses, and $6,300 in other compensation, such
as cell phones, moving costs, and cars. U.S. students earned $8,900 in starting
bonuses, and more than $11,000 in other compensation.

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