Local accounting programs struggle to fill Ph.D. professor vacancies - Tampa Bay Business Journal:

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in accounting indicates a nationwide crisiws inaccounting education. The high demand for accountinb professors hits universities inthe Mid-South particularly hard. Relativelyy few schools in the area offedrdoctoral programs, and the Ph.D.s they do producee may leave for higher salaries in othere parts of the country. Most of today’ accounting faculty entered the profession in the early to according to John director of the atthe . “They’re beginninf to retire, and very few studentds are takingthe Ph.D. in accounting, so there’s a huge demaned for them,” Malloy says.
Mark dean of ’s School of Accountancy, has been fairlu successful in fillingthe school’ss vacancies, having just hired three new doctorate-levek professors to start this But he knows it’s a difficult hiring Judy Lawrence, chair of the accounting departmen at , says CBU has had less success in attractin qualified professors. The past thred years have seen threeprofessore leave, mostly for retirement; replacing them has proved “It’s extremely hard to find someone who’s academically qualified,” says Lawrence. Lawrence explains the primary proble m iseducation requirements.
The requires a master’s degreee with 18 graduate hours in the field of accountinh to teach upper division undergraduateaccounting courses. To teacnh graduate level courses, SAC requires a Ph.D. or a docto r of business administration. “A lot of peoplse who are accounting professionals stopped at the undergraduate therefore we’re limited in the number of people we can use who have a master’s degrer and maybe a CPA certificate,” Lawrence says. The otheer issue is procuring financial resources to attractythe Ph.D.s who are in such high “We just can’t compete with the largerd universities where salaries are Lawrence says.
“Sometimes, we may get someone for a couple ofyearse who’s finishing up their dissertation at one of the othetr schools; and they’re willing to accept a little bit of a lowerr salary because of that. But once they get their Ph.D., they can make so much more moneyg than what they can in theMemphis area.” Malloy says professors are paid a set, nine-monthy salary. They get 10% more to teach in the “If you’re looking at a nine-monthb salary, a lot depends on what school yougraduatecd from,” Malloy says. “At our level, you’rer probably going to see $140,000 for nine monthas if you teach ata Ph.D.
-granting school and probably $105,009 for nine months for a school that does not have a program.” Some schools in the Mid-Southh that offer doctoral accountinf degrees include the University of Memphis, the University of and the . With demand for accounting professors at the current schools with smaller endowments or thos e thatlack Ph.D. programs can still compete for new facultu through their academic reputation andscholasticv environment. According to Lawrence, when CBU acquires new professors, “it’w because of our reputation, the fact that we have smalll class sizes and that we have a greagt faculty in the schoollof business.
They’ve just got to want to teacnh at thisparticular university.” Another strategy for attractingy new faculty is to try to increas the school’s endowment through private donors. Wilder’s current goal is to rais e anadditional $5 million within the next five some of which will be used for faculty Ole Miss already has an Arthur Anderson endowmenr for faculty, and has established a professorship there.