| The purposes of this study were (a) to discover the opportunity cost, in terms of salary, that a business educator might forego when choosing to teach versus choosing a non-teaching business occupation, and (b) to determine which group is influenced more by changes in the business cycle. Results can assist business and education students, academic advisors, and policymakers to make more informed choices and decisions.;Groups of national salary data that were compared included (a) starting salaries of graduates with bachelor's degrees in business education versus business, (b) starting salaries of holders of master's degrees in business education versus business administration (MBA), and (c) median salaries of business teachers and non-teaching business professionals at all levels of education and career advancement.;National salary data from the Bureau of Labor Statistics (BLS) and the National Association of Colleges and Employer's Salary Survey (NACE report) were statistically analyzed using difference in means t tests. Qualitative screening techniques were applied to match the available data from the BLS to data available in the NACE reports. Determination of comparative sensitivity of salaries to changes in the business cycle involved (a) estimation of univariate regression models, and (b) linear and non-linear trend regression forecasting techniques.;After making adjustments to the respective salary data to account for the months teachers work (10 months per year), the results revealed that the opportunity cost of business teaching (a) was not statistically different, in terms of salary, when compared to non-teaching business professionals' starting salaries upon completion of a bachelor's degree or for median salaries representing all levels of education and experience; and (b) was statistically lower, in terms of salary, when compared to non-teaching business professionals' starting salaries upon completion of a master's degree. Results also revealed that business teachers' salaries were affected to a lesser degree by changes in business cycle fluctuations, except when considering median salaries. As an additional analytical verification, the degree of salary fluctuation over time was studied and revealed that business teachers' salaries demonstrated more stability over time, except for starting salaries upon completion of a master's degree, where the degree of fluctuation was the same for the two salary groups. |
