AAEA has noticed sudden spikes on hiring professionals to fill both IR and IE positions. At the same time, the job requirements as spelled out in the advertisement are more rigorous and demanding compared to what they were in the past. However, some of the job postings still stress so heavily on the reporting (old IR), instead of IRI (Institutional Research Intelligence).
It surely shows that some of the US higher learning institutions have finally realized that BAU will no longer relevant to cope with recent dynamic changes in the economy, federal government policy, consumers’ preferences, availability of resources and global market. But for some, they still try to learn how to cope with the new developments. Federal financial aids regulations and less favorable reactions of the American public on skyrocketed college cost increases have played important roles that may have caused negative effects on higher learning institutions’ operating revenue and their budget situation. Therefore, one may witness more possible future merger and college closures in the US.
When resources are declining, the institutions are forced to find ways to reduce operating cost, then they turn to the IR professionals to help them to find the answers. However, traditional IR professionals are not specifically trained in financial management, budgeting or accounting. If the person who is holding the position never learned about these new skills in the past, then one will see big gaps and problems to find the right person who has all the IRI elements.
In other words, the traditional IR Office which commonly works with VP for Academic Affairs is now also required to work closely with VP for Finance and Administration (VPFA). Likewise, the VPFA will not be able get the job done efficiently without collaborating with the IRI (New IR) Office. But, there are not enough people out there who have both the IRI skills and experiences. It is hard enough to find professionals who understand the concept of categorical data, statistical modeling and who have both SAS programming and Education Analytics skills. And now, the same professionals need to understand Financial Ratios and how to read the Balance Sheet and P/L Statement correctly, Managerial Accounting, Strategic Management and Budgeting as well.
It is truly an exciting moment to witness such big changes that are happening in the education industry. When the CAR (College Affordability Rating) and other performance based funding are implemented by both the federal and state agencies, one will notice other such big waves. This wave of changes will not that far from where we are now. If the CAR will be implemented as it was planned in 2015 academic year (a good chance it will), then one will notice even greater corrective and policy changes made within the institutions. This is especially true, if the institution’s rating (AAEA’s version of CAR) is only BBB.