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Additional Posts in Accounting
Any international transfer suffering from ACCA?
Chief
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Once I realized that most of the focus was on research instead of teaching is when I lost interest. I have no interest in writing random articles that many don't read but that's where most the pay comes from. The less you're focused on research the less you make
My dad loved to teach and preferred to stay adjunct (it was part time for him) instead of pursuing tenure. He hated the pressure to publish.
I barely got through undergrad & CPA.
Can’t imagine a masters in accounting or PHD.
In grad school my tax professor was a part time professor and full time tax attorney. She was lecturing about taxation of non-cash employee benefits and mentioned how our university had a tuition swap agreement with another university in the state. Her daughter was going to the other university (tuition free) and how the other university had a professor whose kid went to my university (tuition free). I then realized the tuition benefit was probably worth more than she was making teaching part time 🙃. I dont think most of my accounting professors had PhDs, just Masters and CPAs
Tl/dr: become a professor when your kids are in college for a little extra benefit
Yes! My friends mom was a professor at a Jesuit college that has reciprocity with other Jesuit schools and catholic universities too. Tuition was free and all they had to do was pay for room and board, but all of them became RAs so they basically got a free quality education.
I’m leaving public accounting to start an accounting PhD program in the fall. The stipend is a significant challenge, though accounting PhD stipends (at least at my school) are much better than, say, economics. However, income after earning the PhD is immediately $150K - $300K depending on the university you go to and teaching vs research responsibilities. The NPV of pursuing a PhD depends, in part, on how early in your career you make the move. This article and cited papers can help: https://www.cpajournal.com/2016/08/01/making-the-jump-from-accounting-practice-to-academia/
Agree that the dropout rate is high and that’s definitely something to consider. Accounting PhDs have high salaries and a strong market. State schools, particularly well-ranked research schools, will absolutely pay 6 figures for accounting PhDs. This isn’t the case for al PhD majors. Appreciate the clarification as I wouldn’t want my comment above to be applied to other areas of study. And thanks for the well wishes!
Chief
I think you could probably do an accounting phd in 3 years?
Three is reasonable if you’ve settled on a research topic and plan within the first semester and nothing goes off the rails. You’d also likely want to be aligned with a long term study or interest of your sponsor such that you could leverage research already in progress. Four is more reasonable but, depending on the program, you could be working for that forth year and making a salary beyond the stipend.