If there is a silver lining to the current economic situation, it’s the fact that people everywhere are looking for options. Many have started their own businesses. Another option that many have chosen is to bank on the decent amount of promise for the future to be gained by earning a degree in accounting. Fortunately, if this trend will lead to anything it is for the need for more professors of accountancy.
DBA or Bust?
It doesn’t take glancing at too many college catalogs from institutions across the country to realize the dominance of doctoral degrees among professors, especially when it comes to higher level courses such as those in certain areas of specialization such as accounting, economics, business law, and others. The truth is that until not too long ago there was an overabundance of professors, associate professors, assistant professors, and even lecturers with doctoral degrees. Not anymore.
Coming Up Short
The world of academia has undergone dramatic changes in recent years–chiefly what has gone from an overabundance of qualified professors to a severe shortage, especially in those areas that have seen a dramatic growth such as accounting. The result of this shortage has created a willingness on the part of colleges and universities to hire professors of accounting who might not hold a doctorate. In fact, these institutions have gone to great lengths to recruit those with master’s degrees in accounting to fill these roles.
The truth is that this shortage of teachers of accounting has become so acute that even those with bachelor’s degrees in accounting are often hired to teach the subject. In these rare cases, when need takes precedence, a candidate with a bachelor’s degree in accounting will usually have significant professional experience as well as an emergency credential in order to prevent questions with regards to the institution’s accreditation.
All of this can add up to a “Perfect Storm” for those with a master’s degree in accounting who want to become professors of the subject.
Those with a master’s degree in accounting who wish to become a professor of the subject do enjoy a much better chance of gaining a position, especially over those who have only a bachelor’s degree, but again the shortage of professors in the accounting field would force institutions to hire with a master’s degree.
Another benefit that those with a master’s degree in accounting are enjoying in their roles as professors is the increased prestige of the specialty. This often leads to a higher rate of pay for those whole hold these positions. It should also be noted that in addition to the benefits of holding a professorship are the practical uses such as consulting work that is often asked of those who work as professors of accounting.
Perhaps most importantly to those with master’s degrees in accounting who find employment as professors of accountancy is the high demand which is projected for the business for years to come. Not only will those who hold these jobs currently benefit, but those who wish to enter the profession in the future should be able to look forward to these roles to continue for years in the future.