One of the hardest things to figure out is when exactly candidates are supposed to apply for jobs. In my open call for questions from candidates, this emerged as the single key issue of interest. Here's what the data have to say.
Applying for Jobs
The bottom line is that candidates should plan to apply for jobs when they are posted. To date, 29 schools have announced positions starting summer/ fall 2014, with the earliest application deadline being June 15. Many schools will review applications in early- to mid- July, but not all departments are working on that timeline. Job ads offering AMA interviews will continue to appear through the end of July. In terms of scheduling, candidates should have letter writers target June 10 as the date letters will be needed. The first 100 or so applications can be completed by the end of June. Candidates can expect 50-75 additional positions to be announced in July, with those jobs requiring application submissions on an ongoing basis over the course of the month.
Notably, the market has moved toward a just-in-time model. It was once the case that candidates spent the month of May "applying" for positions by physically mailing packets to the department chair of any and every program regardless of whether a position had been announced. Today, almost all schools require candidates to formally apply either through an online portal or via e-mail. Because the electronic process speeds things up, schools may only announce a position a few weeks before AMA.
Over 450 positions were announced during the 2013 market cycle (that is positions beginning summer/ fall 2013, which appear on the Job Board (2013)
page). Of these announcements, 186 appeared prior to AMA. For the 2012 market cycle, a total of 427 positions were announced with 188 of those positions appearing prior to AMA. With two years of data, it seems clear that June and July are the highest volume months for announcements. October is also a contender, coming in third the past two market cycles. January and February were particularly active for the 2013 market cycle, which appears to be when the bulk of "additional" positions appeared for the 2013 market cycle (as pre-AMA and fall numbers were similar for 2012 and 2013). Data for postings by month and comparisons are provided in Figures 1 and 2 below.
It is also worth noting that the timing of AMA appears to impact when positions are announced. This year, AMA
runs August 9-11 (quick note: candidates do not need to register for the conference to interview at AMA). Last year, AMA was held August 17-19. Because of the later date, I predicted
that announcements for positions with AMA interviews might continue into early August. This proved to be accurate. The final weeks prior to AMA were much more active for the 2013 market (as compared to the 2012 market). Additionally, announcements for the 2013 market appeared later in general. The 2013 market saw fewer announcements in June and more announcements in July and August as compared to the 2012 cycle (Figure 2). Further, the highest volume for the 2013 market occurred in week 11 (Figure 3), whereas weeks five through nine were fairly consistent in terms of volume for the 2012 market (Figure 4). Given the timing for AMA this year, I would expect timing of announcements to look more like the 2012 market cycle than the 2013 market cycle.
For the weekly plots, each week begins on a Sunday. WK 1 corresponds to the first week ending in May and includes all jobs announced prior to May 1.
Because AMA was later for the 2013 market (Aug 17-19) as compared to the 2012 market (Aug 5-7), there was no observable "WK 15" for the 2012 market cycle.
The 2013 job market is winding down, and the 2014 job market cycle is just getting started.
Here are some details on site changes during the transition.
The 2014 Job Board is now available and will be updated as new positions are announced. For those new to the site, the 2014 job board features a list of schools hiring for summer/ fall 2014.
The 2013 Job Board will remain active as additional positions with summer/ fall 2013 start dates are announced.
The candidates page, which for the last year has featured individuals targeting jobs beginning summer/ fall 2013 has been removed.
A new candidates page featuring individuals targeting jobs beginning summer/ fall 2014 will be added in June.
In mid-May, I will post a new Qualtrics link for individuals wishing to announce their availability for summer/ fall 2014. Look for a post with details in a couple of weeks.
The 2013 placements page will remain up in its current state until the 2013 Who Went Where report is available. New announcements are welcome and will be posted on an ongoing basis.
Two Future Posts
I'd like to feature a post covering questions about AMA and the job market in general.
If you will be hitting the market this summer, drop me a line at email@example.com
with questions and I'll put together some answers.
I would like to put together a separate post featuring advice for candidates, from candidates.
If you were on the market this past year and have thoughts to share, send them in an e-mail, and I'll aggregate the collective wisdom. If you would prefer to remain anonymous, please indicate this somewhere in your e-mail.
DocSig Who Went Where Survey
The WWW survey is out. If you have accepted a position for summer/ fall 2013, please be sure to provide details for inclusion in the WWW report. The survey closes May 3, 2013.
New Placement Announcements
WWW data and reports are coordinated through the AMA DocSig
group (a friend and ally, though independent of marketingphdjobs.com).
If you would like to include your placement on marketingphdjobs.com, you can e-mail me at firstname.lastname@example.org or submit details here
The goal of the placements page is to make it easy for young scholars to see what others are working on as a means of identifying potential coauthors and collaborators.
Choosing a Place to Live
There are numerous factors to consider -- price, neighborhood, school districts, commute time -- just to name a few. My advice (particularly if you plan to rent): over-pay for convenience. There are plenty of new challenges and demands on your time as a faculty member (course preps, faculty meetings, e-mails from the dean, phone calls from the media). Commuting may not be the best use of a suddenly scarce resource.
Best Ways to Search
Note -- Redfin and Padmapper do not cover all areas, but they are far and away the best tools if you happen to be moving to a covered market.
Odds are favorable that it's been awhile since you signed a lease. Here’s a quick refresher.
Rentals in major markets tend to operate on a just-in-time basis. This means you should start looking (as in touring places with an expectation to sign a lease) exactly one month before you’re ready to move in. Beyond this window, few properties will be available for your target move in date. Because of the limited window and the fact that amazing deals tend to move fast, you should be prepared to make decisions quickly. Being well calibrated and organized will help. Step 1: spend time browsing online so you’ll know a good deal when you see it. Step 2: get your documents ready. You will need (a) a copy of your contract stating your annual salary, (b) a copy of your credit report, and (c) a copy of a letter of reference from a prior landlord or property manager (if this is available). Having these documents ready to submit with your lease application will improve the likelihood that you are viewed as the most desirable tenant, should multiple applications arrive at the same time (not uncommon in large markets, especially when the property is amazing and/or the price is right). Also keep in mind that rentals in major markets generally require that your annual salary be at least 40x monthly rent. In NYC, the median two bedroom apartment runs $3418/month. A 40x multiplier means that it takes an annual salary above $135k to qualify. Notably, the median 12-month salary from the 2012 WWW report was $123k.
Rental markets in "college towns" tend be driven by students, which means most rentals will follow the academic cycle (leases run August to August). Because the market tends to be coordinated, you can generally find properties with an August move in well in advance. Also, prices tend to be low, though options may be limited -- particularly if you prefer not to live next to undergrads. In many cases, buying may dominate renting (though not always). SabbaticalHomes.com and AcademicHomes.com may also be useful resources to explore (though prices on those sites tend to be somewhat high, even before accounting for a storage locker if you are moving items that duplicate the provided furnishings).
If it's the case that you're still looking for a position starting summer/ fall 2013, there is good news: someone, somewhere wants the skills you've amassed as a doctoral candidate, and they're willing to pay you a lot of money for your expertise. The thing is, it just might not be a university.
If you are considering options in industry, the number one thing you can do is to contact a headhunter. A high-level position with a six-figure salary isn't the kind of thing that gets posted on Craigslist or LinkedIn -- they tend to be curated by recruiters.
My personal experience was that I did not contact a recruiter -- I wasn't smart enough to think of it. Instead, I modeled my corporate search after my academic search (plug and chug). In the end, I found the academic post I really wanted, but searching for a corporate job was a valuable part of the process. In contrast to my inefficient efforts, a marketing doctoral student who called a headhunter ended up with two job offers inside of a month, a giant signing bonus, and an exciting role at a major consumer products company (and yes, this is a real person).
It's worth noting that the decision to pursue industry options may be emotionally draining. Competing for jobs with MBAs isn't the reason anyone signs up for five years in a doctoral program. But we all are looking for a job where we could be happy, and there are plenty of exciting industry options available. And, of course, exploring industry options does not mean you have to abandon the search for an academic post. My advice for expanding your search is to be picky and to wait for the right opportunity. You might have been willing to move to NYC or the middle of nowhere for an academic job, but location, salary, type of work, firm prestige, etc. may become important factors in an industry position. Given the complexity, there are advantages to starting this process sooner rather than later.
Other Things to Consider:
1. Industry positions vary wildly from one to the next -- dimensions range from responsibilities to supervising direct reports to the amount of travel required to figuring out a firm's unique algorithm for calculating total pay (e.g. total pay = salary + incentive pay + end-of-year bonus + retirement contribution + vacation time + sick leave + holiday pay) -- and that's before you factor in things like company culture, opportunities for promotion, whether the work is interesting, etc.
2. Academic salaries are pretty flat. According to the most recent AACSB Salary Report
, the average full professor in marketing makes 1.3x the salary of an assistant professor. In contrast, CEOs at public firms make 231x the average employee's salary
. Of course, there's only one CEO in an organization (and potentially numerous full professors), but the bottom line is that pay scales at major firms move in large steps. Five years after starting an industry job, you might be making 3x your starting salary (and well above the pay scale for full professors).
3. Don't count on a postdoc to suddenly open up. If it does, that's great! But generally postdocs focus on recruiting candidates from allied fields. It also seems to be the case that postdocs are funded through grant money or other non-departmental sources, so it's possible that recruiting is more focused and/or serendipitous (i.e. you happen to know someone with grant money).
4. It's best to think about the search in terms of options that might be new and exciting. It's easy to characterize the decision as "leaving academia" or "letting down your advisor", but those aren't especially productive. It may also be useful to recognize that not every academic position is the dream job you imagined at the start of the phd program. There are plenty of academic positions in undesirable locations with a 4/4 teaching load and a salary at the low end of the assistant professor pay scale. If you can figure out what you really like about being a professor (working on interesting problems with other smart people) -- and how that might translate to a new and exciting industry job -- you just might find a new dream job with a huge salary in the place you always wanted to live.
August is still six months away, but for anyone eyeing the job market this summer, AMA
probably feels like it's just around the corner.
Here's what the next 18 months might look like, with a few thoughts on what candidates can do to position themselves for the 2014 market*.
Here's what conventional wisdom suggests timelines look like from the candidate's perspective:
Dissertation Proposal: Spring 2013
Packets go out: May or June 2013
AMA: August 2013
Flyouts: Fall 2013
Job Offers: Thanksgiving 2013 - Christmas 2013
Job Begins: Summer/ Fall 2014
The timeline above is pretty good, but there are a few elements that need updating. I've framed these below as "myths" because the conventional wisdom is largely based on the historical process of sending paper packets to schools (generally, independent of whether or not they were recruiting that year). Today, schools expect, and in many cases mandate, an electronic application (which will only be made available if the school is recruiting). As a consequence, the things that worked well in the past such as having a strong plan for completing your dissertation, mailing packets early and widely, and waiting patiently for offer season are perhaps not as effective as they once were.
Myth: The most important thing you should be focusing on right now (during Spring 2013) is your dissertation proposal.
Reality: The most important things you can do to position yourself for the job market include: (a) submitting a paper to a top journal and (b) turning a "work in progress" project into a working paper.
The dissertation proposal is a necessary component to finishing your phd (and certainly important), but your dissertation proposal isn't going to get you a job. When you send out packets, schools will evaluate the 150+ applicants based primarily on research record. This doesn't mean that you need a top publication to get a job (historically, only about 10% of candidates have an "A" publication when they interview at AMA), but schools do want to see evidence of your potential. Generally, this means work in review and/or complete working papers to circulate. Only about 30% of candidates have papers under first review at an "A" journal, and only about 20% of candidates have a paper past first review at an "A" journal. The figure below provides the exact numbers for 2007 through 2012 (as reported in the Who Went Where surveys), with "A Journals" defined as JM, JMR, JCR, and MS. Notably, the blue line indicates the percentage of candidates with ZERO papers at the specified stage; the green line indicates the percentage of candidates with one paper at the specified stage. The key take-away from this graphic is that getting a paper into the review process at a top journal is something that can separate you from other candidates at AMA.
Myth: Packets go out in May or June.
Reality: Packets go out when schools post jobs.
Right now, schools are just beginning to work on hiring plans for the 2014-15 academic year. As much as you would like to know whether or not your dream school will be hiring, it's highly unlikely that this determination has been finalized at this point -- unless, of course, Stony Brook is on your dream school list. In that case you're in luck! We expect to be in the market to hire for 2014. But don't send me packets just yet. There will be a formal process for applying once all the details are finalized.
Generally speaking, May 2013 is when schools will begin posting job announcements. Announcements for AMA will continue to be posted through the end of July. Then, more announcements will come after AMA, and these will continue all the way through April 2014. In fact, only 44% of postings for the 2012 market cycle were prior to AMA. More on timing for 2012 is available here
. Once the 2013 cycle comes to a close in April, I'll put together another timing post for comparison.
Myth: Offer season runs from Thanksgiving through Christmas/ New Years.
Reality: Actually, this one isn't too far off, though the start of offer acceptance season is probably closer to early November.
I am currently compiling data from the 2013 market to find out when candidates accepted offers. Data collection is still in progress, as the market is still ongoing. However, reports so far show that a lot of offers are accepted between Thanksgiving and Christmas, with initial activity starting in late October and early November. Look for a complete post on this closer to AMA. For now, consider this a preview of what's yet to come!
*Some people refer to AMA as "the market" and would reference AMA 2013 as being "on the market" in 2013. While this is descriptive, my view is that the market designation should refer to when jobs start. For consistency across the entire job market cycle (which will span the entirety of May 2013 through April 2014), I will be referring to AMA 2013 as part of the 2014 market. When the new job board is added in May 2013, it will be labeled Job Board (2014).
Congratulations to everyone who has accepted a position!
In your future lies a real paycheck, a bigger office, and your very own RA -- in short, all the things you've been dreaming about for the past several years.
The Placements page
is live and will continue to be updated as new placements are reported.
Candidates: if you have not already done so, please be sure to report your placement info (or current search status) so that I can update the candidate and placement pages appropriately.
There is no obligation to announce your placement, however, it is helpful to both schools and candidates with continued searches for the candidate page to remain accurate.
I received a handful of requests from individuals (on both sides of the market) for an update to the candidates page now that a number of candidates have accepted offers from schools. I agree, this is a good idea!
The update will go live tomorrow. Additionally, a placements page will be added for candidates who have elected to announce where they're headed in a few short months!
Lots of exciting things are in the works for Marketing Phd Jobs, but for the moment I'd like offer a few thoughts as many of you set out for Chicago.
First of all there's the data:
On the demand side, 195 schools have posted positions (and notably, quite a few schools have multiple openings).
On the supply side, 163 people have declared candidacy.
Of course, there are still lots of schools that will post after AMA and there are likely still advanced/seasoned candidates in the market as well, but overall the numbers are favorable. From here on out, it's about figuring out where you fit best.
My opinions on navigating AMA:
(1) Just be your self -- but be the best, most interesting "you" that you can possibly be. AMA is an opportunity to meet a lot of nice people who already like what you bring to the table -- they did pick you from a giant stack of applicants, after all. And being authentic is always effective as a strategy.
(2) Be excited about your research. Consecutive days of interviewing is grueling, but walking in the door with a spark of excitement will set the room on fire.
(3) Be open minded. Every school has something great -- ok, almost every school -- but there are probably a few exciting surprises in store. Your job at this point is to figure out what places seem most exciting. Hint: someone just said "Junior Sabbatical".
Some AMA Questions (or one approach to comparing schools):
In every interview, you'll get a chance to ask the committee questions. In addition to covering tenure guidelines and research resources, my goal was to gauge the teaching load in a systematic fashion. I found the combination of # of preps, # of total sections, and typical class size to be highly clarifying.
People often talk about 3/0, 2/2, and 3/3 teaching loads -- but what's really important is assessing the demands on your time. For example, consider a school that offers a 3/0 teaching load that consists of 3 different MBA preps with 75 students per section. Now compare this was a 3/3 teaching load that involves a single prep (your favorite, of course!) for an undergrad course where class size is capped at 20 students per section (and as a bonus, students tend to be smart, engaged, and generally love their professors). In this case the 3/3 might be a better bet.
Obviously this is an exaggerated example, but hopefully it illustrates some of the important differences in what are really all highly, highly similar positions -- they just happen to be in different locations with different people.
There are a lot of small departments -- more than you'd think. Right now you're probably at a school with at least 15 tenured and tenure-track faculty in the department. This is huge! Lots of schools operate with departments in the range of 8-10 full-time faculty (supplemented to varying degrees by adjuncts, lecturers, etc.). Adding you to a department of eight is a sizable increase -- both in terms of people and in terms of dollars. It's a big decision, and maintaining harmony is all the more important when adding you as the new hire represents the last change to the department for the foreseeable future. This is what people mean when they say "it's all about fit".
Also, in case you haven't seen it, Dan Goldstein has a fantastic guide on AMA. If you have seen it, it's worth a re-read. Check it out here
In particular, I really like the "It's All About Friendship" Rule and Dan's advice to "Have a Quirk".
Marketing Phd Jobs and ISMS are teaming up!
A group from INFORMS Society for Marketing Science
(ISMS) got in touch with me last week. They have generously offered to fund some site upgrades and have been instrumental in gathering support from AMA and ACR as well.
Two big changes will occur relatively immediately:
(1) Schools can request to be added to the job board, even without a public announcement (see Job Announcements below).
(2) A Candidates Page will be introduced on July 1 (see Candidates Page below).
Additionally, it's highly likely the landing page for the site will change in the near future to accommodate these new features. Nothing will go away, but you may need to update bookmarked links.
In addition to tracking publicly announced job postings, schools can now request to add a position to the job board.
The online request form is available here (link removed spring 2013).
This year, the goal is to post all* positions even if there has not been a formal announcement. Schools that do not formally announce on ELMAR or other sites can request to be added on the job board by filling out an quick online form. Additionally, schools that intend to recruit this year (but that have not yet posted the position) can "pre-announce" the position by filling out the same online request. This will alert job market candidates to expect a formal announcement to follow -- sort of like a "Save the Date" for the school's recruiting effort.
*Most jobs get posted -- but not all. The site focuses on tenure-track, research positions with summer/fall 2013 start dates. Postdocs and visiting positions will also appear here, adjunct appointments and community college positions will not.
Job Market Candidates: you get to be included in the fun too! John Hauser suggested it would be useful for schools to be able to find info on candidates listed all in one place. Let's make that happen!
To be included in the list on the Candidates Page, please fill out the short form here (link removed spring 2013).
The candidate page will debut July 1. Just like the job board, it will be a public list. Don't worry though, it's just the basics -- name, affiliation, research area, and a link to the candidate's preferred profile page (personal website, university profile page, etc). Please go ahead and fill out the short questionnaire now to ensure your name goes up on July 1 when many search committees will start reviewing packets.