Earning your doctoral degree in accounting can increase your earnings potential to six figures or more. Prior to working on that degree, you need to finish both a bachelor’s and a master’s degree. Some schools even require that you finish your master’s on campus or that you take some specialized classes before starting the doctoral program. With a master’s degree, you can work as a certified public accountant, a tax preparation specialist or in other positions, but some of the highest paying fields in the accounting profession require a doctoral degree.
An accountant manager is the manager responsible for a financial department and the accountants working within that department. Larger businesses have hundreds of people keeping track of profits, recording information relating to expenses and finding ways to increase profits. An accountant manager will ensure that each person working within that department does his or her best and that the company does not waste money on employees or resources that it doesn’t need. Though some larger nonprofit organizations hire accountant managers, most of these positions are available in the private business sector.
An accounting professor is responsible not only for teaching students accounting fundamentals, but also for researching and applying new accounting theories and practices. The salaries of accounting professors vary based on the school and faculty position you hold, but if you want to teach accounting, you need to gain some teaching experience. During your doctoral program, you may have the option of working as a teaching assistant. Schools typcially pay teaching assistants and offer a tuition stipend, while the assistants grade papers, teach introductory courses and meet with students. Working as a tutor can also give some you some applicable teaching experience.
Chief Financial Officer
When you finish your doctoral degree in accounting, you might look for Chief Financial Officer positions. Also known as a CFO, this is the person responsible for all financial operations of a company or an organization. A CFO is not only responsible for the daily financial operations, but must also be cuurent on accounting rules and regulations, saavy with strategic planning, and skilled at communicating financial results and plans to all levels of leadership and regulatory bodies. Many of these positions require a few years of accounting experience in addition to your degree, with some employers requiring five to 10 years of experience.
Companies and organizations use internal auditors as a way to find signs of losses. Auditors come in, go over the records carefully, meet with workers and help business owners make some tough decisions. They can determine whether a company needs to cut back on the salaries of employees, downgrade to a smaller office, or take other actions to ensure the financial stability of the company. Internal auditors essentially track the flow of financial information and data to find out where companies have money troubles.
Many colleges now offer a single program that lets you complete a bachelor’s and a master’s degree in accounting in five years or less. By the time you finish your doctoral degree, you will have invested seven years or more on your studies. While you might not like the idea of spending so much time in school, you will like how much you can earn with a doctoral degree in accounting.