From undergraduate to professor, John Kostolansky made his career at Loyola
Professor John Kostolansky has been part of the Loyola community since 1964, when he was a Loyola undergraduate student. In 2020, he retired after a fulfilling Loyola career.
Below, Kostolansky recounts his journey to becoming a Loyola accounting professor.
“I attended the Loyola School of Business (now the Quinlan School) as an undergraduate. My primary goal was to complete my degree and get a job. With encouragement and substantial mentoring from two Loyola faculty (Virgil Boyd, Dean of the School, and Robert Aduddell, Professor of Economics), I applied to several doctoral programs and received sufficient financial support to attend Columbia University.
“When I moved back to Chicago after completing my coursework, Bob Aduddell put me in touch with the Management Department to fill in a faculty position teaching statistics for a year, and that was the beginning of my academic career. I loved teaching and wanted to stick around, but I had a Ph.D. in Economics, was teaching statistics for the Management Department, and needed suitable publications to achieve tenure.
“Dean Boyd called me to his office to let me know that I wouldn’t be able to continue in that position. Not good news since my wife and I were expecting our first child. Virgil advised me of the shortage of doctorally qualified accounting faculty, suggested that accounting was ‘kind of like’ applied economics, and if I could get my CPA and publish accounting research articles, I could join the accounting faculty. I thought, ‘He can’t be serious. That’s all I have to do. Right!’ But family can be an effective motivator and I was on my way to becoming a CPA.
“Several years later, I began a 12-year job as chair of the Accounting Department. Two years later, I became associate dean of the Graduate School of Business, and eventually associate dean of the business school. After almost 25 years in these administrative positions, I rejoined the accounting faculty to teach and do research, effectively a reverse career path. I’ve worked with hundreds of wonderful, talented women and men, students, alumni, and faculty. It’s been a wonderful career.”