Why You Should Consider Pursuing a Ph.D. in Accounting?

Individuals who are committed to “making a difference” in their careers through impacting others and who have a passion for the process of discovery should seriously consider a career transition to becoming a university faculty member. You most likely can recall the impact a professor had on you being challenged to reach beyond your limits. Perhaps you experienced a faculty member who was known for helping, inspiring, and molding students. Such dedicated faculty members impact generations of students who in turn continue that legacy. You can pass along your own appreciation for learning and curiosity.

Your experience in public accounting positions you to explore interesting and relevant issues that can positively affect the practice of auditing or the development of tax policy. Your “institutional” knowledge and experience no doubt has prompted you to think about possibilities that might lead to more effective auditing practices and testing the effectiveness of current or proposed auditing standards and regulations governing the practice of auditing. If your experience has been in the tax arena, no doubt you have pondered such issues as the effectiveness of various taxing policies, impact of tax provisions, or enhancing tax compliance. You have the freedom to explore the issues that you have thought about but have never had the time. The contribution to the body of knowledge about the practice and regulation of auditing and taxation can be exhilarating.

If you thrive from working independently and setting your own agenda, then you should consider a career as an accounting professor. University faculty members enjoy considerable freedom and flexibility in their professional pursuits. The shortage of and the demand for accounting faculty has led to a substantial rise in the starting salaries for newly minted doctorates in accounting—often the highest in the university. Many faculties also have the opportunity to augment their university salaries through consulting, expert witness, text book writing, and other professional endeavors. The wave of anticipated retirements of accounting faculty members over the next decade suggests that the time could never be better for becoming a faculty member.

While the pursuit of earning a doctorate is rigorous and requires exceptional effort, the rewards are great. Those who are committed to “making a difference” can change lives for a changing profession.