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After 2 rounds of interview (1 hour each) , Deloitte usi hr is telling me that due to organisational restructuring the offers are on hold. Got a salary discussion call last Thrusday (no pre hire survey) . Last working day in a week. Any suggestions? Cloud Data engineer CBO unit Deloitte Deloitte USI
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If you want to be a professor in a research university, then PhD from a top university which can take 3-10 years (4-6 on median), then for STEM fields 2-5 years of postdoc at a top university. Top University in your field is a must, otherwise, chances for a tenure track position are slim.
That said in 5-15 years (most likely 6-9) you will be an assistant professor in a research university earning around $150k.
From there after around 5-7 years you get your tenure and life is incredible, you have a very relaxed life with lots of impactful research, your students and can earn around $300k if you are good at what you do.
In other words, it is very hard to become a tenured professor in a research university. Much harder than getting into top consulting or tech firms. If you are passionate about it, do it.
Depends on the field. Business school profs have it much cushier given their salaries and research are funded by the MBA program!
The only people less happy than consultants are PhD students
Do you want to do serious research, make decent pay (for higher ed), and have health insurance and other benefits? Then PhD and go for tenure track
Do you want to lecture as an adjunct? Then you need to have a marketable skill/topic to teach - MBA doesn’t really matter as much as your experience
Expect a large paycut either way and uphill battle to find open roles (more so for tenure track but also true for adjuncts depending on where you are). My SO is a professor (tenure track), also know Bainies and undergrad friends who left private sector for academia
^To be clear, starting for post-MBA roles
Mentor
Doing this for clout at dinner parties?
Plot twist: no one’s impressed.
lol. You’re a consultant at a T2. You can google this.
Being a principal lowers the bar ;)
No ways you’re getting a serious academic job without a PhD and in many fields, a postdoc . It’s 10+ years away if you’re starting today.
If you’re diligent, get tenure (in 15-20 years) at a decent research university (eg UCSB, UW, UT Austin, etc), there’s a pathway to $300k. If you’re good, it’ll be $500k plus. Lots of international travel, unlimited flexibility, effectively unfireable.
Try out the adjunct route before you embark on this - I had a great time writing and teaching a class and would do so again as a personal project, but the culture, pace, and hierarchy of academia is grating.
A PhD is at best a soul-feeding exploration of personal significance, and at worst a decade of indentured servitude.
Didn’t leave to do so but I do teach as an adjunct at Georgetown
Hoya Saxa!
I’m confident you can get a lecturer role in a business school. Other titles to look out for are distinguished lecturer, adjunct professor, instructional professor, and professor of practice (less common). If you only want to teach and do department service as opposed to research, then you can have a great academic career without a doctorate.
I’m less confident that you can get a true tenure-track assistant professor position without a PhD, though it might depend on the school. My PhD is a STEM field, not business, but I will say without a PhD you are bottom of the totem pole in STEM. I don’t think it feels good, and it’s reflected in your pay, how people treat you, and your job security. STEM academia is very hierarchical, with tenured professors being at the top and lecturers / adjunct at the bottom. I imagine that hierarchy is still present in business schools, but maybe I’m wrong. Just something to keep in mind! Again, this doesn’t really matter much if teaching and service are what you want to do. Best of luck
That sounds right. My friends who are now Assistant Professors (OP that’s the first level in tenure track, it’s assistant prof, associate prof, then prof) come in at ~90k at non-elite private schools like Fordham or Davidson, maybe 70-80k at state schools. Keep in mind most salaries are 9 months in academia, and you either teach or pay yourself out of a research grant over the summer. This is for physics, the salaries are a higher for subjects like chemical engineering. I know full time (~4 classes / semester) physics adjuncts at non-elite private schools can come in around 60-70k, which is tough if you’re at Fordham in NYC. Salary really ramps up at elite private schools like NYU and Columbia, though even lecturer positions at these schools are competitive as PhDs who can’t get TT jobs will apply for them.
I do think there could be a world where you’re TT with only MBA if you get creative. I would consider undergraduate liberal arts schools that don’t have MBA programs but have undergrad business majors, I’ll link an article below. As research is a smaller part of tenure for profs at these schools in general, you may have a stronger case. Business profs may also be able to consult independently during the school year, which could really help w income.
https://www.koppelmangroup.com/blog/2019/11/14/small-liberal-arts-colleges-with-business-majors-or-programs
People forget. You have to get into a PhD program at a decent school (requires you to demonstrate proven or potential research capability). Do coursework, maybe pass quals or whatever your program has as an equivalent, if anything (idk what your area of interest is, but these can be quite hard lol). Then you have to complete the program. And to be competitive for top jobs and tenure track positions, not only finish the PhD but be a productive and impactful researcher during, which is hard (though, I imagine this requirement might be relaxed a bit if you have actual industry experience in the area? Perhaps). You may not have much monies coming in during your PhD, that is quite the lifestyle shift, that is hard. This is hard. Make sure you know why you’re in it.
Wrong!
I've actually considered this. I have an MBA and adjunct at the masters level at a large state university in the business school. There are non-tenure track professorships where you don't need the terminal degree (PhD) but you need at least a masters and substantial professional experience. Going full time is a large pay cut but you can supplement by consulting on the side (depending on university hours are limited. Non-tenure track positions are teaching oriented, not research oriented. So make sure you love teaching and curriculum prep.
Thank you!
I hear t2 principals can do lateral transfers into tenured professor roles and highly paid seats and get the fast track to peer reviews publications. American Political Science Review is no match for someone who’s led a 5 week cost optimization. /s
On a serious note - depends what you want. If you just want to teach you might be able to lecture without a phd. But if you want a serious professor role and to do any kind of research and be published in reputable places, academia might be one of the few places more prestige focused and snobby in that way than consulting.
Get a phd from the most reputable place you can.
Depends on the school. Most have mutliple levels, Lecturers, Associate Prof, Prof, Tenured Prof, Faculty Fellow, Chairman.. etc
If you desired, and qualified for their structured need. I'm sure you could land a Lecturer job on some associated topic to your expertise.
What School.... that depends on your background and reputation in the field.
Else find a good phd program, you will probably teach some, help on some research, drive your phd project some. Multi year commitment.
Good luck to you.
If you want to dip your toes in this. Contact your undergrad or MBA school. Start there, see how you can get involved. Lecture, advisor, whatever. University life might be a great fit for you.
Some of my profs were great. One said invest every dollar possible in Google when the ipo hit ;)
The other said he became a prof because Indiana Jones had a cool life...
Point is if you want to impact lives, reach people while their still young.
I teach as an adjunct part time at a T14 university with only a masters degree
How did you get started?
How do professors make real money? They consult on the side.