Careers with a Ph.D. in Accounting
- Financial Analyst
- Accounting Professor
- Accountant Manager
While accountants may find entry-level positions in the field of accounting, individuals typically find more lucrative careers with a Ph.D. in Accounting. Depending on if an individual has a degree or is starting from scratch, he or she can earn the doctorate degree in accounting in three to seven years. They can choose accountant or CPA careers or pursue scholarly research and leadership roles with the Ph.D. Here are five great careers with a Ph.D. in Accounting.
1. Financial Analyst
Financial analysts work for individuals and businesses help them make investment decisions. They spend a great deal of their day studying and analyzing investments such as bonds, stocks and money markets. They evaluate current and past financial data, prepare written reports, study business and economic trends, and analyze a company’s financial statement to determine its worth. After utilizing all the information they’ve obtained, they meet with the company’s officials and management and advise them on what they feel are good investments for the company. Also called investment analysts or securities analysts, these professionals work in mutual funds, banks, insurance companies and similar businesses.
2. Accounting Professor
Accounting professors teach students about the field of accounting. They also provide academic counseling and tutoring; design and develop curriculums; collaborate with colleagues on research activities, and mentor students. Accounting professors are in high demand because of the serious shortage of Ph.D. graduates in accounting. They’re qualified to teach at both the graduate and undergraduate level. This shortage also puts them in a position where they can expect high wages. Salary.com states that accounting professors earned a median annual wage of $119,880 as of April 2018.
Accounting consultants have a variety of duties depending on the company. Their main job is advising the company on the best financial portfolios and the most effective ways to be profitable. This may be investing in fraud protection, sending data away for analysis or decreasing things that are not using money wisely. Accounting consultants are much like financial analysts in that they also study the financial trends and advise the company on what are or are not good investments. They also advise the company on other matters, such as payroll, investments, stock portfolios and taxes.
An accounting researcher is a scholar who analyzes and researches accounting-related issues and publishes studies and reports on his or her findings. The researcher also does a lot of public speaking or commentaries about accounting methods and trends. Accounting researchers usually work at colleges and universities teaching students about business and accounting. They also spend a lot of their time studying and publishing work in accounting research journals. Researchers may study accounting information systems, taxes, auditing ethics or financial reporting to name a few. They typically spend more time researching than actually teaching.
5. Accountant Manager
An accountant manager is an individual who’ in charge of an accounting firm or financial department in an organization. Large companies typically have many employees working in the accounting and financial departments. Each employee is doing his or her own job, whether it’s creating financial reports, monitoring profits or doing expense reports. The accountant manager ensures that employees are doing their jobs and that the company is making as much of a profit as possible. Accountant managers work in the private business sector as well as for nonprofit organizations.
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According to a 2017 report by the U.S. Bureau of Labor Statistics, accountants and auditors should see a job growth of ten percent from2016-2016. Because of the knowledge and experience obtained through academic programs and work, great careers are possible for those with a Ph.D. in Accounting.