CUPA-HR Releases New Research on the Higher Ed Business and Finance Workforce

The Higher Ed Business and Finance Workforce report contains analyses of data on 19,237 business and finance employees in 23 positions reported across 1,006 institutions. The report details the size and structure of the business and finance workforce in higher ed, in addition to pay, pay equity, composition by race/ethnicity and gender, years in position, and retention for this workforce.

Findings

Doctoral institutions employ the largest, most complex business and finance workforces, and they also lead in compensation. Doctoral institutions have the largest and most varied business and finance workforces, with a median of 16 employees — more than twice the size of other types of institutions, including associate’s (median of 5), baccalaureate (6), and master’s (7) institutions. Doctoral institutions also pay the highest median salaries of all institution classifications, with a particularly substantial pay premium for leadership positions. Women in business and finance are paid less than men, and the largest pay gap is for administrators. Pay gaps are especially pronounced for Black, Hispanic/Latina, and White women across all positions. Overall, the pay gap is wider for supervisors compared to non-supervisors, and wider still for administrators compared to supervisors. Pay ratios are the lowest for White and Hispanic/Latina administrators. Female administrators over the age of 48 face the most substantial pay equity challenges. Both age and position level amplify gender-based compensation disparities for women. These findings highlight wider pay gaps for women in roles that require specialized skills and increased leadership responsibilities. Female administrators over 48 are paid $0.82 for every dollar paid to White men in the same age group — a gap that translates to more than a $30,000 difference in annual salary. The representation of people of color in supervisor and administrator positions lags. In roles with increased levels of supervisory status and administrative oversight, fewer employees of color are represented. Employees of color represent 17% of administrator roles, which is substantially lower than the 32% of people of color in the U.S. who hold a graduate degree. Business and finance employees are less likely to look for new job opportunities but still want more flexibility. Compared to other staff workforce areas, business and finance employees are less likely to seek other employment in the near future. However, they report a mismatch between how they currently work and their desired work arrangements, with 24% working in a hybrid arrangement but 66% reporting they prefer hybrid or remote options.