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The only real reason I see for a PhD is to be a professor though you can teach college level without it. Outside of that, I don’t really see the value!
Professors focus on research. If you want to do accounting research, get a PhD in accounting. If you just really want to teach accounting for whatever reason, go adjunct at the business school or become a Becker CPE person.
I would love to be an accounting professor, if I could get that PhD... starting salaries in the high hundreds , tenured positions in the 200s. Have heard tier one research schools can be making 400k.
That’s not my route, but I definitely would be more than ok with the life.
I planned to do it, but accounting research nowadays is heavenly based on econometric models...so I dropped it
Count how many PHDs are on the FASB. Do it only if you want to be a professor. You don’t want to do research all your life in accounting....not like we can cure cancer......
If you want to get into research and academia, then it's the only path forward. If you want to teach, then you can just apply on the adjunct wait list. PhD is not a teaching role except at lower tier schools (not that there is anything wrong with these schools, except maybe ROI).