The higher education or academic industry is also known as academia. It incorporates, students studying in tertiary education (post secondary school) on a journey to be awarded degrees, as well as the employees such as: professors, researchers and high-level administration staff. The industry can. Be public or private non-profit research organisations with a core objective of pursuing research or technological development. The industry also excels in world-class teaching - a thriving environment for knowledge transfer.
According to Deloitte: “The higher education industry is changing rapidly and the status quo is being challenged. Deloitte’s research has identified seven key challenges facing the sector, ranging from increasing consumer expectations to workforce attraction and retention. More than ever, higher education institutions must think globally and develop a strong student and wider stakeholder value proposition which differentiates them from their competition. This will dramatically impact how universities operate into the medium and longer term.”
The value of the industry is around $1.9 trillion globally, making it one of the largest single economic sectors worldwide. This is only set to continue to increase in line with the increase in world population. Using the European market as an example, there are over 19.5 million students, 1.5 million academics, 500,000 researchers - in the world top 200, Europe has 104 universities compared to the US which has 63, putting it second after Europe. Europe has over 4,000 higher education institutions of which the UK as an example has 162, employing 410,000 workers with a 50:50 ratio of academic to non-academic staff.
The specific set of skills and qualifications you require will be based on the type of job you go for: academic or higher education administration and support. For academic roles the traditional entry point requires a PhD.
With each of the subfunctions, there are typically 4 types of jobs: research - 90% (with little or no teaching - 10%), research - 50% (and teaching - 50%), research - 10% (with more teaching - 90%) and no research (with teaching - 100%)
What is a a day in the life? What are the progression routes like? What are the average salaries?