You mean I get paid to talk about finance?
August 29, 2009 3:07 AM Subscribe
Freelance lecturing as a full time job?
In April 2008 I left banking to complete my MBA. I've done three optional Economics modules, and have been writing my dissertation with a Q4 2009 deadline which is rapidly approaching (and yes, I've been skiving on MeFi too much rather than writing).
Since 2003 I'd had a part time job at a local University, tutoring Masters students on their dissertations in areas aligned with my research interests (Risk Management, Credit Derivatives and Asset Bubbles). While I generally say I only got the job over folks who know the material better than myself as I'm a native English speaker, I accidentally found out this experience was marketable on its own, into the UK higher education sector.
As I had some free time and I really enjoying teaching, about one year I created an academic CV with the help of this AskMeFi, I applied to a second University and lucky me, right time, right place.
I secured an appointment to teach 'Corporate Finance & Financial Markets' to Masters level students. About thirty students in each class, the term runs for ten weeks and I'm on my fourth contract with this institution . Reviews from my manager are positive, students & I have great fun, totally excellent material & I really enjoy the post. They've asked about enlarging my remit next term to include 'Quantitative Methods', so that's ok.
Last February I was approached by a third University to take a post midterm (lecturer left due to health reasons) teaching Finance to Undergrads. Offered a second contact which I started the first week of August, this post is a little less stimulating to me intellectually as we're working at the second & third year Undergraduate level students, but I do like teaching and especially talking about finance. They've offered me a second class ('Forecasting Financial Markets'), at the Masters level next term, which is a topic I've taught before, albeit at another institution.
So all good, working about fifteen hours a week, getting paid to talk about finance! But I've since noticed there are tons of postings for part time lecturing slots. All require a UK masters and relevant teaching experience, but offer the flexibility of contract employment, almost always via my own limited company, for specific time periods.
As I approach submission of my MBA dissertation I foresee a crossroads where I either return to banking full time with a credible story for absence (pursing a relevant degree), or I decide to push forward on the academic front.
While I've been doing a little part time consulting to a couple of banks and hedge funds, mostly people I've worked for in the past, I'm trying to weigh the pros and cons of each distinct career path.
Banking has lots of pluses (immersed in finance!) but also negatives (too much international travel, too long hours, too much money and you can't pick just two) - while lecturing seems to come with its own negatives which, to be honest, don't seem that grand at this point in time. On the plus side of lecturing, I witness but totally avoid getting caught up in academic political infighting since I'm contract, and not on a tenure track. Negatives seem to originate mostly from the Undergrads, whom sometimes are forced to attend by their parents; they really don't want to be in the class and sometimes it shows and I seriously have to assert control (which I honestly don't want to do - I'm only here to talk about finance).
I was curious if anyone else is pursuing part time lecturing to multiple institutions as a substitute for full time, single sourced academic employment? I'd like to get some idea of downsides that I might not yet be aware of.
From my limited perspective I can already see the money is good but highly variable: the three institutions I'm associated with presently range pay at discrete points of £36, £55 and £70 per hour, so that variability is of interest.
But besides variability in compensation the only downsides I can see at this time is the short term, contractual nature of the engagements (which can also be viewed as a plus). So have I missed something? And are there people that make a living out of these arrangements?
In April 2008 I left banking to complete my MBA. I've done three optional Economics modules, and have been writing my dissertation with a Q4 2009 deadline which is rapidly approaching (and yes, I've been skiving on MeFi too much rather than writing).
Since 2003 I'd had a part time job at a local University, tutoring Masters students on their dissertations in areas aligned with my research interests (Risk Management, Credit Derivatives and Asset Bubbles). While I generally say I only got the job over folks who know the material better than myself as I'm a native English speaker, I accidentally found out this experience was marketable on its own, into the UK higher education sector.
As I had some free time and I really enjoying teaching, about one year I created an academic CV with the help of this AskMeFi, I applied to a second University and lucky me, right time, right place.
I secured an appointment to teach 'Corporate Finance & Financial Markets' to Masters level students. About thirty students in each class, the term runs for ten weeks and I'm on my fourth contract with this institution . Reviews from my manager are positive, students & I have great fun, totally excellent material & I really enjoy the post. They've asked about enlarging my remit next term to include 'Quantitative Methods', so that's ok.
Last February I was approached by a third University to take a post midterm (lecturer left due to health reasons) teaching Finance to Undergrads. Offered a second contact which I started the first week of August, this post is a little less stimulating to me intellectually as we're working at the second & third year Undergraduate level students, but I do like teaching and especially talking about finance. They've offered me a second class ('Forecasting Financial Markets'), at the Masters level next term, which is a topic I've taught before, albeit at another institution.
So all good, working about fifteen hours a week, getting paid to talk about finance! But I've since noticed there are tons of postings for part time lecturing slots. All require a UK masters and relevant teaching experience, but offer the flexibility of contract employment, almost always via my own limited company, for specific time periods.
As I approach submission of my MBA dissertation I foresee a crossroads where I either return to banking full time with a credible story for absence (pursing a relevant degree), or I decide to push forward on the academic front.
While I've been doing a little part time consulting to a couple of banks and hedge funds, mostly people I've worked for in the past, I'm trying to weigh the pros and cons of each distinct career path.
Banking has lots of pluses (immersed in finance!) but also negatives (too much international travel, too long hours, too much money and you can't pick just two) - while lecturing seems to come with its own negatives which, to be honest, don't seem that grand at this point in time. On the plus side of lecturing, I witness but totally avoid getting caught up in academic political infighting since I'm contract, and not on a tenure track. Negatives seem to originate mostly from the Undergrads, whom sometimes are forced to attend by their parents; they really don't want to be in the class and sometimes it shows and I seriously have to assert control (which I honestly don't want to do - I'm only here to talk about finance).
I was curious if anyone else is pursuing part time lecturing to multiple institutions as a substitute for full time, single sourced academic employment? I'd like to get some idea of downsides that I might not yet be aware of.
From my limited perspective I can already see the money is good but highly variable: the three institutions I'm associated with presently range pay at discrete points of £36, £55 and £70 per hour, so that variability is of interest.
But besides variability in compensation the only downsides I can see at this time is the short term, contractual nature of the engagements (which can also be viewed as a plus). So have I missed something? And are there people that make a living out of these arrangements?
thousands upon thousands of US humanities phds are now shouting at their computer screens:
you could:
a) be a banker traveling around the world making "too much money"
or
b) be an "ajdunct professor" splitting time between a bunch of colleges and universities teaching the courses no one else wants for low pay, no job security, and little prospect for career advancement.
so.... basically, do you actually have to work for money: what would you do if the lecturing jobs dried up? also, you might find after lecturing for years you were less employable in banking/finance.
yes, thousands of people in the US making a "living" being lecturers. but, more often than not, they do it because there aren't any other jobs in academia. it's really hard to imagine anyone choosing to do this, unless they didn't really need a job in the first place. basically, it's a dead end job.
posted by geos at 7:14 AM on August 29, 2009
you could:
a) be a banker traveling around the world making "too much money"
or
b) be an "ajdunct professor" splitting time between a bunch of colleges and universities teaching the courses no one else wants for low pay, no job security, and little prospect for career advancement.
so.... basically, do you actually have to work for money: what would you do if the lecturing jobs dried up? also, you might find after lecturing for years you were less employable in banking/finance.
yes, thousands of people in the US making a "living" being lecturers. but, more often than not, they do it because there aren't any other jobs in academia. it's really hard to imagine anyone choosing to do this, unless they didn't really need a job in the first place. basically, it's a dead end job.
posted by geos at 7:14 AM on August 29, 2009
yes, thousands of people in the US making a "living" being lecturers...
with "lecturer" being a fancy word for an overeducated person trying to teach sullen, bored community college students things that they should have learned in high school, and explaining to countless students who don't know the proper use of the apostrophe or the distinction between "their" and "they're" why they didn't get an A in the class.
posted by jayder at 7:23 AM on August 29, 2009
with "lecturer" being a fancy word for an overeducated person trying to teach sullen, bored community college students things that they should have learned in high school, and explaining to countless students who don't know the proper use of the apostrophe or the distinction between "their" and "they're" why they didn't get an A in the class.
posted by jayder at 7:23 AM on August 29, 2009
Best answer: Mutant -
I remember you saying at some point that you were financially self-sufficient, so you have some freedom to choose a career path on grounds other than income. With an MBA, I'm not sure I would choose the lecture path just yet for several reasons.
First, you can *always* find part-time lecture jobs with your experience and qualifications. The fact that you have an advanced degree and so much practical experience (presuming you dont' assault students or other non-starters) means your departments are getting more than what they pay for.
Second, if you decided that you liked working in an academic environment, you will have almost zero career mobility without a terminal degree of some sort. I'm not just talking about a tenure-track faculty position, but any one of the jobs that are created to lead new initiatives, implement and direct programs, and other administrative jobs. That might not be up your alley, but if it was, you would be in a bad situation.
Third, you are prepared (I would suspect) to be employed now at a peak earning potential and that won't last forever. If the academic world again draws you from your vocation, you can pursue a terminal degree, or simply lecture. Both options will, essentially, always be on the table.
posted by mrmojoflying at 7:38 AM on August 29, 2009
I remember you saying at some point that you were financially self-sufficient, so you have some freedom to choose a career path on grounds other than income. With an MBA, I'm not sure I would choose the lecture path just yet for several reasons.
First, you can *always* find part-time lecture jobs with your experience and qualifications. The fact that you have an advanced degree and so much practical experience (presuming you dont' assault students or other non-starters) means your departments are getting more than what they pay for.
Second, if you decided that you liked working in an academic environment, you will have almost zero career mobility without a terminal degree of some sort. I'm not just talking about a tenure-track faculty position, but any one of the jobs that are created to lead new initiatives, implement and direct programs, and other administrative jobs. That might not be up your alley, but if it was, you would be in a bad situation.
Third, you are prepared (I would suspect) to be employed now at a peak earning potential and that won't last forever. If the academic world again draws you from your vocation, you can pursue a terminal degree, or simply lecture. Both options will, essentially, always be on the table.
posted by mrmojoflying at 7:38 AM on August 29, 2009
Best answer: And are there people that make a living out of these arrangements?
In the US, many. It's usually called "adjuncting," and runs a huge gamut from underpaid, exploited, and miserable to well-paid, respected, and happy work. I know people who are effectively permanent adjuncts -- their contracts are year to year, but the clear understanding is that they will continue to be employed for the foreseeable future. And I know others who don't know semester to semester if they will have work.
The biggest downside for many people is being treated as a second-class inferior citizen by tenure-track faculty and administrators. This varies hugely by school and department, and you may be fortunate enough to not encounter it yourself, but is a reality for many people in those jobs.
posted by Forktine at 8:13 AM on August 29, 2009
In the US, many. It's usually called "adjuncting," and runs a huge gamut from underpaid, exploited, and miserable to well-paid, respected, and happy work. I know people who are effectively permanent adjuncts -- their contracts are year to year, but the clear understanding is that they will continue to be employed for the foreseeable future. And I know others who don't know semester to semester if they will have work.
The biggest downside for many people is being treated as a second-class inferior citizen by tenure-track faculty and administrators. This varies hugely by school and department, and you may be fortunate enough to not encounter it yourself, but is a reality for many people in those jobs.
posted by Forktine at 8:13 AM on August 29, 2009
Best answer: I think you have done a pretty good job of articulating the pros and cons of this type of career. Adjunct lecturers can never be sure if the school will need them next semester or next year. Plus, the pay is generally drastically lower than for full-time people. At my school the pay to teach a class is about half for full-time lecturers what it would be for tenure-track faculty, and even lower for adjuncts. One option you have not mentioned is looking to be a full-time lecturer. To me, if you don't want to be involved in publishing and the politics of academia, that seems like a great option. However, I am not sure if those jobs are open to someone with an MBA rather than a PhD or DBA. We do have full-time lecturers at my school who do not have a PhD. Plus, in the US there are plenty of universities where the faculty members only teach and are not involved in research. So if teaching is what you enjoy, there are a number of ways to pursue that.
Finally, I agree with mrmojoflying that you should always be able to find part-time lecturer jobs. Especially if you have experience teaching.
posted by bove at 8:16 AM on August 29, 2009
Finally, I agree with mrmojoflying that you should always be able to find part-time lecturer jobs. Especially if you have experience teaching.
posted by bove at 8:16 AM on August 29, 2009
Best answer: working about fifteen hours a week, getting paid to talk about finance!
Is this just your classroom hours? If so, consider the outside-the-classroom time commitment. Do you have assignments/exams to create and mark? Do you spend time preparing your lectures, finding proper examples and preparing slides etc? Do you need to hold "office hours" where students come in to ask questions? Figure these into your estimate of the hourly wage.
posted by LobsterMitten at 9:58 AM on August 29, 2009
Is this just your classroom hours? If so, consider the outside-the-classroom time commitment. Do you have assignments/exams to create and mark? Do you spend time preparing your lectures, finding proper examples and preparing slides etc? Do you need to hold "office hours" where students come in to ask questions? Figure these into your estimate of the hourly wage.
posted by LobsterMitten at 9:58 AM on August 29, 2009
Best answer: with "lecturer" being a fancy word for an overeducated person trying to teach sullen, bored community college students things that they should have learned in high school, and explaining to countless students who don't know the proper use of the apostrophe or the distinction between "their" and "they're" why they didn't get an A in the class.
This characterization of community college students is just patently untrue. Community college students are, in my experience, among the most motivated students of all. It is the vast majority of private university students who are sullen, and worse, entitled.
What distinguishes the two groups in my experience with both is class-- the functionally illiterate upper-middle class students can afford tuition and grow up with college as a predetermined phase after high school. Community college students fight to get there. For many of them, higher education is a way to raise themselves out of poverty or dead-end jobs. They actually care about the "they're/there/their" distinction. We do those students a vast disservice when we consider them somehow less intellectually curious or driven than their wealthier peers.
The point of the above is this: if you have a similar aversion to teaching certain kinds of students, you will not like freelance teaching. Adjuncts, or freelance lecturers, will generally not receive the choice teaching assignments, such as honors classes. You will, and probably have, been asked to fill in for full-time staff who took leave for some reason. Your accomplishments certainly help you get the job, but the same jobs will go to a range of educators, some of whom you might feel are not up to snuff, many of whom are newly minted PhDs desperately seeking a full-time job. See who else an institution hires when they hire you. If working with them doesn't bother you, (it shouldn't) then maybe try it out for a bit.
Another caveat: if one were the type of person used to accolades in their field, and expected praise for one's command of knowledge of a complex subject, one should look elsewhere for work. Neither come from one's peers as an freelancer or adjunct as the job is called in the US. What you are describing is low-status, low-paying work.
I have noticed over the years that men, in particular men accustomed to wielding power and authority in other fields, have a hard time adjusting the lack of prestige that goes along with teaching part-time, or to teaching at all in the US academy.
As an adjunct one belongs to a group that has comparatively low status, regardless of your accomplishments outside the academy. That lack of prestige takes concrete forms. In the US system, perhaps less so perhaps in the UK system, a pretty solid wall separates adjuncts from full-time faculty. One's vote generally doesn't count in faculty meetings. One might not receive invitations to lectures and dinners for visiting scholars as a matter of course. Adjuncts must make the extra effort to get to know their full-time colleagues who are usually swamped with meetings and other administrative assignments. You will have to make your own opportunities to participate in the intellectual life of a department. I loathe the tenure system that creates these disparities but they are very real, and a lot of men have a hard time accepting them. (Some women do too, but institutionally, men have greater expectations of authority and prestige than do women for a bunch of reasons related to the sociology and history of gender and work.)
I hope my comments do not seem out of place. The gendered aspect of employment in higher education fascinates me. I've spent a lot of time thinking about it as well as the class divisions that track students into different types of higher-ed institutions (community college vs. private and public universities). I've volunteered to work with community college students above and beyond my own duties as a full time professor. And all of these concerns relate to my own research expertise.
posted by vincele at 10:33 AM on August 29, 2009 [6 favorites]
This characterization of community college students is just patently untrue. Community college students are, in my experience, among the most motivated students of all. It is the vast majority of private university students who are sullen, and worse, entitled.
What distinguishes the two groups in my experience with both is class-- the functionally illiterate upper-middle class students can afford tuition and grow up with college as a predetermined phase after high school. Community college students fight to get there. For many of them, higher education is a way to raise themselves out of poverty or dead-end jobs. They actually care about the "they're/there/their" distinction. We do those students a vast disservice when we consider them somehow less intellectually curious or driven than their wealthier peers.
The point of the above is this: if you have a similar aversion to teaching certain kinds of students, you will not like freelance teaching. Adjuncts, or freelance lecturers, will generally not receive the choice teaching assignments, such as honors classes. You will, and probably have, been asked to fill in for full-time staff who took leave for some reason. Your accomplishments certainly help you get the job, but the same jobs will go to a range of educators, some of whom you might feel are not up to snuff, many of whom are newly minted PhDs desperately seeking a full-time job. See who else an institution hires when they hire you. If working with them doesn't bother you, (it shouldn't) then maybe try it out for a bit.
Another caveat: if one were the type of person used to accolades in their field, and expected praise for one's command of knowledge of a complex subject, one should look elsewhere for work. Neither come from one's peers as an freelancer or adjunct as the job is called in the US. What you are describing is low-status, low-paying work.
I have noticed over the years that men, in particular men accustomed to wielding power and authority in other fields, have a hard time adjusting the lack of prestige that goes along with teaching part-time, or to teaching at all in the US academy.
As an adjunct one belongs to a group that has comparatively low status, regardless of your accomplishments outside the academy. That lack of prestige takes concrete forms. In the US system, perhaps less so perhaps in the UK system, a pretty solid wall separates adjuncts from full-time faculty. One's vote generally doesn't count in faculty meetings. One might not receive invitations to lectures and dinners for visiting scholars as a matter of course. Adjuncts must make the extra effort to get to know their full-time colleagues who are usually swamped with meetings and other administrative assignments. You will have to make your own opportunities to participate in the intellectual life of a department. I loathe the tenure system that creates these disparities but they are very real, and a lot of men have a hard time accepting them. (Some women do too, but institutionally, men have greater expectations of authority and prestige than do women for a bunch of reasons related to the sociology and history of gender and work.)
I hope my comments do not seem out of place. The gendered aspect of employment in higher education fascinates me. I've spent a lot of time thinking about it as well as the class divisions that track students into different types of higher-ed institutions (community college vs. private and public universities). I've volunteered to work with community college students above and beyond my own duties as a full time professor. And all of these concerns relate to my own research expertise.
posted by vincele at 10:33 AM on August 29, 2009 [6 favorites]
Best answer: I wanted to say exactly what vincele did about community college students not being the "sullen, bored" things jayder claims. In short: community college students often know why they're there. This is especially true for the "non-traditional" (basically: older) students. If you choose to go to a community college, it's often because you have a good idea of what you want to get out of it and because you have a clear concept of the alternatives. Four-year college is full of students who went there primarily because it's a given for them. I've seen plenty of sullen, bored students at expensive four-year schools. I was one.
Mutant, this is relevant to you primarily because there may be types of institutions you haven't considered that might be even better for you than what you've experienced so far. Community colleges in the US are undergraduate-only, and I don't even know if there is an equivalent in the UK, so that exact form may not be ideal for you. But perhaps, for example, a less selective graduate business program would be more rewarding for you because the students may be more motivated, with clearer goals, at such an institution. Or maybe you could do some sort of corporate training on high-level topics.
Other people have mentioned the status difference between adjunct and full-time. That will definitely be the case among you and your colleagues, but it's worth noting that students, in my experience, don't distinguish between different types of professors, if they even know that one is an adjunct or not.
posted by whatnotever at 1:46 PM on August 29, 2009
Mutant, this is relevant to you primarily because there may be types of institutions you haven't considered that might be even better for you than what you've experienced so far. Community colleges in the US are undergraduate-only, and I don't even know if there is an equivalent in the UK, so that exact form may not be ideal for you. But perhaps, for example, a less selective graduate business program would be more rewarding for you because the students may be more motivated, with clearer goals, at such an institution. Or maybe you could do some sort of corporate training on high-level topics.
Other people have mentioned the status difference between adjunct and full-time. That will definitely be the case among you and your colleagues, but it's worth noting that students, in my experience, don't distinguish between different types of professors, if they even know that one is an adjunct or not.
posted by whatnotever at 1:46 PM on August 29, 2009
Best answer: One of my previous colleagues (and nominally, bosses) used to call this being a "professional sessional", since here in Australia the kind of contract work you're talking about is called "sessional" work because you get a contract for a single semester (session).
Anyway, I can tell you from experience that I've met many professional sessionals over the years. Some of them are aspiring PhD-grads (or students), others just seem to enjoy doing it year after year, but all of them seem able to make a living from doing it. In fact, I'd even disagree with the assumption above that sessional's make less money. Here in Australia it's not uncommon to take a pay cut when you move from being a sessional (with 35 - 40 contact hours a week @ ~$100 p/hr) to a full-time staff member (working 37.5hrs @ closer to $50 p/hr), so there's a plus for you!
Apart from that, most of what everyone else says is true. Don't expect much respect as a sessional staffmember, and don't expect any great career movement in the job. If you want to be a real academic then you'll probably need a PhD and some serious time looking for a job, but as I said it's entirely possible to be a professional sessional if that's what you want, just know the limitations.
posted by ranglin at 7:47 PM on August 29, 2009
Anyway, I can tell you from experience that I've met many professional sessionals over the years. Some of them are aspiring PhD-grads (or students), others just seem to enjoy doing it year after year, but all of them seem able to make a living from doing it. In fact, I'd even disagree with the assumption above that sessional's make less money. Here in Australia it's not uncommon to take a pay cut when you move from being a sessional (with 35 - 40 contact hours a week @ ~$100 p/hr) to a full-time staff member (working 37.5hrs @ closer to $50 p/hr), so there's a plus for you!
Apart from that, most of what everyone else says is true. Don't expect much respect as a sessional staffmember, and don't expect any great career movement in the job. If you want to be a real academic then you'll probably need a PhD and some serious time looking for a job, but as I said it's entirely possible to be a professional sessional if that's what you want, just know the limitations.
posted by ranglin at 7:47 PM on August 29, 2009
Response by poster: Wow thanks everyone!
I think I do see a way forward, appreciate the feedback and tips. But just to clarify a few points and close this (very helpful to me query) off.
I was sorta surprised to see low pay being brought up as an issue; not sure about US pay standards but the range I've experienced to date in the UK market (£36 to £70 per hour gross, net about runs between 71% to 90% depending on how structured i.e., PAYG employee or limited company) is fine by me. Full time permanent contract would indeed represent a pay cut that I'd rather not entertain. In fact the University I've been associated with since 2003 has already put this on the table, so it is an option but then I'm fully in the system and exposed to the TT / non TT and academic infighting crap. I'm looking for a way to dodge that bullshit.
And I apologise my query was too long - I'm teaching and have taught almost exclusively Masters level students, and I'm not sure having been through the material with second & third year undergrads I'm interested in the UK equivalent of community college students, however motivated as they might be. Even second and third year finance (201/301 in US parlance) is just a little boring to repeat year in and year out. I've got interviews lined up with two other Universities for Masters level teaching and may let this one go at end of term.
I've already caught the lack of respect thing and while it seems a small minority (mostly admin but some academic staff) behave that way, at least with the Universities I'm currently teaching at. That isn't a show stopper for me since there are egotistical jerks everywhere, some fields seem to have far more (banking I'm looking back at you) and if shitting on folks is their trip, then so be it.
a) be a banker traveling around the world -- well, after too many years flying 200K+ miles per year, I've had enough. Travel, even Business or First Class travel, in excess is much overrated. If anyone is aspiring to this lifestyle I'd advise be careful what you wish for; sometimes its easier to get in than out.
If the academic world again draws you from your vocation, you can pursue a terminal degree, or simply lecture. Both options will, essentially, always be on the table. -- this is seriously valuable advise, and I thank you. Has really altered my perspective somewhat - thanks.
So if teaching is what you enjoy, there are a number of ways to pursue that. -- yes, I genuinely enjoy it, in some ways much more so than banking.
Don't expect much respect as a sessional staffmember, and don't expect any great career movement in the job.
This is great, exactly what I'm looking for.
Just to put my motivation on the table - I've got a small business here in London and we've planned for another to enter start up Q1 2010, so at this point in my life I'm looking more for options that maximise free time while minimising work time.
Thanks again everyone!
posted by Mutant at 11:23 PM on August 29, 2009
I think I do see a way forward, appreciate the feedback and tips. But just to clarify a few points and close this (very helpful to me query) off.
I was sorta surprised to see low pay being brought up as an issue; not sure about US pay standards but the range I've experienced to date in the UK market (£36 to £70 per hour gross, net about runs between 71% to 90% depending on how structured i.e., PAYG employee or limited company) is fine by me. Full time permanent contract would indeed represent a pay cut that I'd rather not entertain. In fact the University I've been associated with since 2003 has already put this on the table, so it is an option but then I'm fully in the system and exposed to the TT / non TT and academic infighting crap. I'm looking for a way to dodge that bullshit.
And I apologise my query was too long - I'm teaching and have taught almost exclusively Masters level students, and I'm not sure having been through the material with second & third year undergrads I'm interested in the UK equivalent of community college students, however motivated as they might be. Even second and third year finance (201/301 in US parlance) is just a little boring to repeat year in and year out. I've got interviews lined up with two other Universities for Masters level teaching and may let this one go at end of term.
I've already caught the lack of respect thing and while it seems a small minority (mostly admin but some academic staff) behave that way, at least with the Universities I'm currently teaching at. That isn't a show stopper for me since there are egotistical jerks everywhere, some fields seem to have far more (banking I'm looking back at you) and if shitting on folks is their trip, then so be it.
a) be a banker traveling around the world -- well, after too many years flying 200K+ miles per year, I've had enough. Travel, even Business or First Class travel, in excess is much overrated. If anyone is aspiring to this lifestyle I'd advise be careful what you wish for; sometimes its easier to get in than out.
If the academic world again draws you from your vocation, you can pursue a terminal degree, or simply lecture. Both options will, essentially, always be on the table. -- this is seriously valuable advise, and I thank you. Has really altered my perspective somewhat - thanks.
So if teaching is what you enjoy, there are a number of ways to pursue that. -- yes, I genuinely enjoy it, in some ways much more so than banking.
Don't expect much respect as a sessional staffmember, and don't expect any great career movement in the job.
This is great, exactly what I'm looking for.
Just to put my motivation on the table - I've got a small business here in London and we've planned for another to enter start up Q1 2010, so at this point in my life I'm looking more for options that maximise free time while minimising work time.
Thanks again everyone!
posted by Mutant at 11:23 PM on August 29, 2009
not sure about US pay standards
Just for fun, a quick and dirty summary with approximate numbers:
For undergrad humanities courses at reputable US colleges and universities, adjuncts (what are called sessional lecturers in Canada and Aus, not sure about UK) get paid between $1000-$3000 per one-semester course, with no benefits (so no health insurance).
Figuring the hourly rate there.... How many hours is a course? Suppose three classroom hours a week, one office hour, and absolutely bare-bones prep and marking (call it 1 hr of prep for each 1 hr in class, and 20 minutes to mark a 5 pg paper, x 3 in the course, x 25 students = 125 hrs marking for the semester). Then you get about 8.9 hrs marking/week. So about 16 hrs/wk for, say, 14 week semester = 224 hrs. So the hourly wage for an adjunct making $2K for a course, assuming they have only 25 students and put in most minimal out-of-classroom time, is around $9/hr. That number will fluctuate depending on how many students, how many assignments and how labor-intensive the prep and marking is. The incentive to give multiple choice bubble-sheet tests is obvious. And IME to have only 1 hr of prep before a class is something you can typically only do for a very basic course or later in your career once you've already taught the material a few times.
A typical tenured or tenure-track faculty member will teach anywhere from 2 to 4 courses a semester, and make somewhere from $40K to $70K/yr (or higher for senior or prestigious people -- probably much more for econ people than philosophers!). But adjuncts who are working full time must take on 5 a semester to make even $20K/yr, again with no benefits or job security, and often they must travel to multiple institutions, since a single school is unlikely to have that many courses they want to farm out - so the commuting costs are higher, as you have to go to multiple job sites in a day.
posted by LobsterMitten at 12:05 AM on August 30, 2009
Just for fun, a quick and dirty summary with approximate numbers:
For undergrad humanities courses at reputable US colleges and universities, adjuncts (what are called sessional lecturers in Canada and Aus, not sure about UK) get paid between $1000-$3000 per one-semester course, with no benefits (so no health insurance).
Figuring the hourly rate there.... How many hours is a course? Suppose three classroom hours a week, one office hour, and absolutely bare-bones prep and marking (call it 1 hr of prep for each 1 hr in class, and 20 minutes to mark a 5 pg paper, x 3 in the course, x 25 students = 125 hrs marking for the semester). Then you get about 8.9 hrs marking/week. So about 16 hrs/wk for, say, 14 week semester = 224 hrs. So the hourly wage for an adjunct making $2K for a course, assuming they have only 25 students and put in most minimal out-of-classroom time, is around $9/hr. That number will fluctuate depending on how many students, how many assignments and how labor-intensive the prep and marking is. The incentive to give multiple choice bubble-sheet tests is obvious. And IME to have only 1 hr of prep before a class is something you can typically only do for a very basic course or later in your career once you've already taught the material a few times.
A typical tenured or tenure-track faculty member will teach anywhere from 2 to 4 courses a semester, and make somewhere from $40K to $70K/yr (or higher for senior or prestigious people -- probably much more for econ people than philosophers!). But adjuncts who are working full time must take on 5 a semester to make even $20K/yr, again with no benefits or job security, and often they must travel to multiple institutions, since a single school is unlikely to have that many courses they want to farm out - so the commuting costs are higher, as you have to go to multiple job sites in a day.
posted by LobsterMitten at 12:05 AM on August 30, 2009
No, I think I screwed up the math there. Counted far too many hours marking. I think the hourly wage based on my fake numbers would be closer to $16/hr.
posted by LobsterMitten at 12:29 AM on August 30, 2009
posted by LobsterMitten at 12:29 AM on August 30, 2009
LobsterMitten: Even given your correction for the math, I can see an obvious difference here. While sessional staff here also don't get paid explicitly for marking and prep-time (just contact hours, unless you've got a big tutorial group) the rate seems significantly better.
Just to give some perspective, the institution I work at pays about $120 p/hr for lectures and about $80 p/hr for tutorials (more for doctoral qualified academics). For a typical 2+2 class (2hr lecture, 2hr tutorial), that still works out at $400 a week for 12 or 13 weeks. Even taking into account the exchange rate between Australia and the US, this seems like a much higher rate than your poor adjuncts, especially considering that some people consider the rates my institution pays to be on the low side!
Of course, all you fellows get to call yourself professors, which I kind of envy a little!
Anyway, getting a bit off-topic here, but hopefully still interesting for future thread viewers! :)
posted by ranglin at 1:14 AM on August 30, 2009
Just to give some perspective, the institution I work at pays about $120 p/hr for lectures and about $80 p/hr for tutorials (more for doctoral qualified academics). For a typical 2+2 class (2hr lecture, 2hr tutorial), that still works out at $400 a week for 12 or 13 weeks. Even taking into account the exchange rate between Australia and the US, this seems like a much higher rate than your poor adjuncts, especially considering that some people consider the rates my institution pays to be on the low side!
Of course, all you fellows get to call yourself professors, which I kind of envy a little!
Anyway, getting a bit off-topic here, but hopefully still interesting for future thread viewers! :)
posted by ranglin at 1:14 AM on August 30, 2009
For undergrad humanities courses at reputable US colleges and universities, adjuncts (what are called sessional lecturers in Canada and Aus, not sure about UK) get paid between $1000-$3000 per one-semester course, with no benefits (so no health insurance).
In my experience there is a much broader spread, even just for undergrad humanities courses, with some places paying more than $6000/course, and some places I've heard of barely paying minimum wages. And that spread gets much, much larger when you consider other forms of adjuncting -- someone brought in to teach a full-load of specialized courses is probably going to be salaried at a fairly nice level.
posted by Forktine at 6:52 AM on August 30, 2009 [1 favorite]
In my experience there is a much broader spread, even just for undergrad humanities courses, with some places paying more than $6000/course, and some places I've heard of barely paying minimum wages. And that spread gets much, much larger when you consider other forms of adjuncting -- someone brought in to teach a full-load of specialized courses is probably going to be salaried at a fairly nice level.
posted by Forktine at 6:52 AM on August 30, 2009 [1 favorite]
Forktine, could be; my numbers are based on about 5 institutions where I know the rate, but they're a range from small, private liberal arts to giant state school.
posted by LobsterMitten at 9:44 AM on August 30, 2009
posted by LobsterMitten at 9:44 AM on August 30, 2009
Response by poster: Agreed ranglin, very interesting comments from everyone.
Since the money side is so variable if this helps any other UK based reader / prospective lecturer, I specified three discrete points of £36, £55 and £70.
Teaching undergraduates pays £36 / hour, with my out of office obligation restricted to tutoring one mock final exam. I'm currently teaching about 100 students divided into two, back to back lectures on the same day. The final for these students is highly standardised, and we (those teaching Finance that is) have precisely zero input into the exam. This course has been taught for decades, and they already have an extensive question bank so admin mixes it up to create each year's final exam. Scoring is done by another group therefore I have no other contractually mandated obligation at this University but on my own I administer a weekly, ten question quiz covering the previous weeks material, which typically runs between 40 to 80 pages of reading. I started the weekly quiz as I found out nobody was otherwise doing the reading to an adequate level. This is my second term teaching so PowerPoints & handouts are already done, and since this is Undergrad prep time is minimal.
The two other data points are for teaching at the Masters level. At the lower end I'm lecturing once a week, no quizzes just a single final exam at end of term. I have to first mark the final myself, and since this is a quantitative class either they've gotten it right (which means low effort for myself) or wrong (more effort for me, 'cause I'm big on handing out partial credit where ever I can); figure about one hour per exam averaged across an entire class of 30 or so students. I've then got a brief meet up with the second marker to agree a final score, before the external examiner reviews. As this is my fourth term teaching there I've already got the PowerPoints & handouts done, except for topical market events which I tend to read and write about anyhow (so no extra effort). Prep time for each lecture is maybe thirty minutes, mostly to review models as this is a very much "hand on", quantitative class.
The higher data point is for tutoring Masters dissertations; we're paid nine hours for each student and required to meet at least four times. This pays more as the University doesn't have too many people who are willing to supervise in these research areas. Part of the term I keep regular office hours at this University so students know when and were to find me. Most weeks nobody shows up so I while away time using my Bloomberg terminal, and other times I'll see three or four students in a row.
I generally arrange my schedule to fit it all into a three day week, with two of the Universities a ten minute walk from each other, the third about five minutes away on The Tube.
Titles at my three posts: Sessional Lecturer, Visiting Lecturer, Adjunct Professor. Well, as long as the cheques clear I could give a toss about title.
posted by Mutant at 11:54 AM on August 30, 2009
Since the money side is so variable if this helps any other UK based reader / prospective lecturer, I specified three discrete points of £36, £55 and £70.
Teaching undergraduates pays £36 / hour, with my out of office obligation restricted to tutoring one mock final exam. I'm currently teaching about 100 students divided into two, back to back lectures on the same day. The final for these students is highly standardised, and we (those teaching Finance that is) have precisely zero input into the exam. This course has been taught for decades, and they already have an extensive question bank so admin mixes it up to create each year's final exam. Scoring is done by another group therefore I have no other contractually mandated obligation at this University but on my own I administer a weekly, ten question quiz covering the previous weeks material, which typically runs between 40 to 80 pages of reading. I started the weekly quiz as I found out nobody was otherwise doing the reading to an adequate level. This is my second term teaching so PowerPoints & handouts are already done, and since this is Undergrad prep time is minimal.
The two other data points are for teaching at the Masters level. At the lower end I'm lecturing once a week, no quizzes just a single final exam at end of term. I have to first mark the final myself, and since this is a quantitative class either they've gotten it right (which means low effort for myself) or wrong (more effort for me, 'cause I'm big on handing out partial credit where ever I can); figure about one hour per exam averaged across an entire class of 30 or so students. I've then got a brief meet up with the second marker to agree a final score, before the external examiner reviews. As this is my fourth term teaching there I've already got the PowerPoints & handouts done, except for topical market events which I tend to read and write about anyhow (so no extra effort). Prep time for each lecture is maybe thirty minutes, mostly to review models as this is a very much "hand on", quantitative class.
The higher data point is for tutoring Masters dissertations; we're paid nine hours for each student and required to meet at least four times. This pays more as the University doesn't have too many people who are willing to supervise in these research areas. Part of the term I keep regular office hours at this University so students know when and were to find me. Most weeks nobody shows up so I while away time using my Bloomberg terminal, and other times I'll see three or four students in a row.
I generally arrange my schedule to fit it all into a three day week, with two of the Universities a ten minute walk from each other, the third about five minutes away on The Tube.
Titles at my three posts: Sessional Lecturer, Visiting Lecturer, Adjunct Professor. Well, as long as the cheques clear I could give a toss about title.
posted by Mutant at 11:54 AM on August 30, 2009
The info on your arrangement is fascinating - I forget how different it is in the UK. Teaching/lecturing with no marking, you're living the dream. It does sound like your outside the classroom time commitment will be much lower than I was imagining - good!
Also I should update to say that my US adjunct pay numbers are just from my own acquaintance, and I've gotten a me-mail message from someone who has had much higher pay (more than twice my max!) as an adjunct in the US. (In case anyone in future is using this thread to decide about adjuncting in the US, the take-home message is, check the particulars of your target institution.)
posted by LobsterMitten at 9:54 PM on August 30, 2009
Also I should update to say that my US adjunct pay numbers are just from my own acquaintance, and I've gotten a me-mail message from someone who has had much higher pay (more than twice my max!) as an adjunct in the US. (In case anyone in future is using this thread to decide about adjuncting in the US, the take-home message is, check the particulars of your target institution.)
posted by LobsterMitten at 9:54 PM on August 30, 2009
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-Low pay (maybe not an issue for you)
-Not avoiding getting caught in political infighting (arguably up to you)
-Grading time can lower the $/hr (do you have to grade?)
-Lack of respect from people in the department (you might not care)
In the US these jobs are frequently taken by people who aren't able to get a tenure track job for one reason or another (can be strength of CV but can also be geographic limitations, market fluctuations etc).
If you don't have to do significant work outside the classroom, don't need benefits, don't depend on the money and don't care about being "part" of the academic dept you're lecturing in, it sounds like a pretty sweet deal to me.
posted by chesty_a_arthur at 4:01 AM on August 29, 2009