February 25, 2013
HIGHER EDUCATION BUBBLE UPDATE: Lincoln Memorial University Eliminates 13 Faculty Positions. And note this: “Many students enrolling in the education specialists program and the education doctorate program were from Georgia, which offered large pay increases to teachers who received advanced degrees. Recent changes to which degrees would qualify teachers for a pay bump have changed, and now do not include the programs LMU offers.” An awful lot of the lower-tier higher-ed market is driven by jobs that require you to get an advanced degree for a raise or promotion. As those requirements fade (partly because the economy means fewer raises and promotions, partly because employers are growing less enthusiastic over the check-a-box approach) that sector will come under considerable pressure.
None of this comes as a surprise, for those who have been paying attention.