In our new "how can we help you?" thread, a reader asks:
How do you know when it's time to jump ship at a university with budget problems?
Sadly, I think the answer may be: as soon as you find out it has budget problems. If recent events in higher education (e.g., the closure of one college and university after another) are indicative, budget problems tend not to improve but rather worsen.
I had a friend at university that, much like other universities that have closed down, proceeded rapidly from "budget problems" to something like a budget death-spiral. It went something like this. The university was poorly-off financially because of some bad strategic decisions by its administration, coupled with a drop in student enrollment. The way it addressed those problems (presumably, the only way available) was to cut faculty and programs. But, of course, as soon as students and parents found out about its budget problems and cuts to programs, this led to even lower enrollment ... which, you guessed it, made the university's financial situation progressively worse.
Maybe the OP's institution is a different situation--I can't know without knowing more details. But, in any case, given that the situation at my friend's institution changed rapidly (and unexpectedly to many people working there), my sense is that the prudent thing to do is to probably begin looking for alternative prospects of employment sooner rather than later. But perhaps I'm overstating things? Given that I don't work at an institution with issues like these, I don't have any direct first-hand experience.
It would be good to hear from readers who have worked at a college or university with budget problems. How did things go at your institution? And when do you think it's good to "look toward the exits"?
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