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Some scientific fields require their assistants starting out to be in a master's program. They may be restricted to part-time non-exempt employment status until their probation period is over. If you want to go on to management, you need to continue your education on to the doctorate level and publish research throughout your career.
Theres a big shortage of accounting phd's because the cost of attendance is ridiculous. Not just the cost of the Phd program but the opportunity costs. Currently someone in accounting can easily pull six figures if they apply themselves. Accounting Phd's also make just over 100k. The program takes 5 years to complete on average so you have lost wages there of ~500k, on top of the all in cost of attending the program. Add to that the stress factor and its completely obvious why there is a shortage.
Theres a big shortage of accounting phd's because the cost of attendance is ridiculous. Not just the cost of the Phd program but the opportunity costs. Currently someone in accounting can easily pull six figures if they apply themselves. Accounting Phd's also make just over 100k. The program takes 5 years to complete on average so you have lost wages there of ~500k, on top of the all in cost of attending the program. Add to that the stress factor and its completely obvious why there is a shortage.
Correct. It is good to be in demand!
If you don't have a full tuition waiver (in-state and out of state) plus stipend, fellowship, etc, you're not doing it right.
In teaching schools. A newly minted accounting PhD with a good dissertation going to a good research school will probably start at over $160k. There are A LOT of acct. PhD's at research schools making over $200k.
Tenured engineering profs here easily clear $120k salaries. They literally only teach 8 weeks a whole year, and that's only 2 classes per week. Not sure what the complaint for university profs' salaries is about.
10-10-2014, 10:14 AM
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Who says you need to be a college teacher if you have a PhD?
A PhD in an in demand field can pay very well. The opportunity cost of a PhD can be erased by higher earnings in only a few years.
I would suspect that those pursuing a PHD are doing so for reasons other than money.
I have nothing but a G.E.D and trade school certification and make more money than 90% of all my friends who practically killed themselves thru college.
Tenured engineering profs here easily clear $120k salaries. They literally only teach 8 weeks a whole year, and that's only 2 classes per week. Not sure what the complaint for university profs' salaries is about.
And engineers with PhDs working in private industry can make twice that. My husband is an engineer with only a bachelor's and he makes more than that. But anyway, engineering profs aren't complaining - it's all the adjuncts that teach the classes in other subjects, for about 30K and no benefits.
I would suspect that those pursuing a PHD are doing so for reasons other than money.
I have nothing but a G.E.D and trade school certification and make more money than 90% of all my friends who practically killed themselves thru college.
I believe this. There are PhD's offered in non-lucrative fields all over the place. Somebody is attending them or they would not even exist. You would expect that after a BS and MS, it would be obvious that a PhD for some fields is actually a money drain. Yet there are still people enrolled. The point is that not everybody is motivated by money. For some people the sheer fact they can immerse themselves into something they are passionate about - that is a huge reward worth more than any money value.
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