Phd - Salary And Career Outlook

PhD in Accounting - Salary and Career Outlook

You can earn a very impressive salary if you have a Doctorate in Accounting. Most of the people with this qualification usually opt for a career in academia and take up jobs as faculty members at colleges and universities as professors of accounting. You can also take up a similar job and assist people in developing a career as an accountant by being one of the faculty members for a masters or an MBA degree.

What Does A PhD In Accounting Entail?

A PhD in Accounting involves coursework for three seminars along with dissertation and a specialization in various disciplines like finance, accounting, marketing and taxation. It usually takes about four to six years to complete an Accounting PhD Program where you need to conduct extensive research work and also take up teaching duties. Most of these PhD programs are developed in such a way that they require teaching and research.

Career Outlook and Salary For A PhD in Accounting

The career outlook is very bright and the job options continue to grow at a very fast pace with various careers like professor, associate professor, assistant professor and faculty member. The salaries depend on the area of specialization, location and job profile.

According to the Salary.com for May 2011, the median salary of an accounting professor in the United States was about $107,087. The middle 50th percentile earn between $81,925 to $170,863 a year. If you are working as a business school professor in an accredited accounting institution, you can earn as much as about $112,100. However, the salary for those working in non-accredited schools is much lesser and can be about $78,800 a year. The salary for professors at public colleges and universities is about $102,200; and for private-school it is about $125,100 a year.

Likewise, for an associate professor of accounting, the median salary is about $91,158, and for those working as an accounting/taxation associate professor it is $109,000. However, those working as an assistant professor, the salary is much lesser and the median salary is about $83,977.

If you are working as an assistant professor at business schools you can earn $87,500 at accredited schools; $63,200 at non-accredited colleges and universities; $81,500 at public schools; and $90,200 at private institutions. According to a report provided by the American Association of University Professors, professors with Ph.D. degrees can earn as much as a $109,569 at public schools and $144,256 at private institutions if they are a faculty member.

A PhD in Accounting can get you decent salary and the career outlook is also quite bright. Though most of the career options are in the academic world as faculty members or professors, the salaries are quite attractive and depend on various factors like experience, location as well as job profile.

by: Rachel Scott

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