Professorships and Fellowships
Although Monte Swain’s research agenda includes how accounting firms manage themselves, he’s able to better manage his time at work because of his Marriott School professorship.
Professorships and fellowships are endowments that provide recipients with extra salary and research funds. Swain uses the extra stipend to pay a research assistant who helps conduct field research at accounting firms.
Professorships are reserved for senior professors—those who are productive scholars, teachers, and citizens. A professorship provides a faculty member with an extra $10,000 salary and $2,500 for research support each year. Fellowships are reserved for younger professors; holders receive an extra $2,500 salary and $2,500 for research support. Professorships are funded by $300,000 endowments and fellowships by $100,000 endowments.
“BYU’s salaries are not as high as other school’s we compete with,” explains Associate Dean W. Steve Albrecht. “Professorships and fellowships allow us to attract outstanding professors and assist with their salaries and expenses.”
For faculty like Swain, Deloitte Professor of Accountancy, the extra money supports his research in multiple ways. It not only provides extra funds for his research assistant but also allows Swain to attend an extra conference each year and pay incentive money to research participants.
Faculty members undergo a review every five years if they have a professorship and every three years if they have a fellowship. If someone is not outstanding or productive, the professorship or fellowship is revoked. Faculty must also account for their use of research funds during annual stewardship interviews.
For Swain, his professorship validates the work he is doing. “It is like the Good Housekeeping Seal of Approval. I would be more disappointed in the loss of approval than in the loss of the funds,” he explains. “The professorship signals to me that the school appreciates the work I’m doing. That means a lot to me.”
Albrecht adds, “Faculty often use research money to support student mentored-learning projects. For example, they might hire an extra student to gather data or pay for a student co-author to attend a conference and help present a paper.” For example, Professor Conan Albrecht, Kevin and Debra Rollins Fellow, recently co-delivered a paper with his student assistant at an information systems conference in Hawaii.
Professorships and fellowships can be strong motivators. “Those who don’t have one aspire to receive one, and those who have one are motivated to hold on to it,” Albrecht says. “It’s probably the biggest carrot we have in the school, and we’d love to offer more.”
Recently Renewed and Established Professorships and Fellowships
Ford - Michael Swenson 2003–2004
H. Taylor Peery - Steve Thorley 2003–2004
W. Steve Albrecht - Kevin Stocks 2003–2004
KPMG - Lee Radebaugh 2003–2004
Deloitte - Monte Swain 2003–2004
Horace Pratt Beesley - Jeff Dyer 2002–2003
Fellowships
Kevin Rollins - Paul Lowry 2003–2004
Warnick/Deloitte - Greg Burton 2003–2004
PWC - Diversity Peter Johnson 2002–2003
Vest - Jeff Wilks 2002–2003