We are currently in the middle of a college bubble. Colleges are slow to increase professors, and with good reason. Tuition costs have skyrocketed over the past 3 decades, and attendance rates have steadily climbed. This is mostly easily attributed to the baby boomer mentality of, "I want my children to have a better life, and that means a college education." While not necessarily wrong, it won't continue forever.
The bubble is already started to deflate. There are repeated calls for more focus on trade-based education. Or self education with online resources, as dubious as that may be. But this is not the financial industry, and it will not pop overnight.
Giving a professor tenure is not like hiring an employee. Colleges are locked into supporting that professor, and their research, for 30+ years.
The bubble is already started to deflate. There are repeated calls for more focus on trade-based education. Or self education with online resources, as dubious as that may be. But this is not the financial industry, and it will not pop overnight.
Giving a professor tenure is not like hiring an employee. Colleges are locked into supporting that professor, and their research, for 30+ years.