I want to lecture in future. I also want to be an auditor. I am currently studying a post graduate diploma in business administration and this gives me a brighter chance of doing either an MBA or Msc in finance or accounting. I'm confused on which to apply for because of what i want do in the near future. what advise can you offer me? I f choose to lecture can i ever be an auditor?
Higher Education (University +) - 2 Answers
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1
I posted this earlier on an identical question/answer. It contains all you need to know. Firstly, you need to complete a Doctorate. This is essential. It will take you 4-6 years full time and will involve you maintaining yourself both financially and psychologically for that period. Financially, it will cost you about US$120,000 as of today's prices. Some scholarships exist and the subject of finance/business USED to be one of the easier subjects to obtain funding for. Nevertheless, recent events have demonstrated over and over again that the teaching of business and finance at universities have been directly responsible for the terrible economic woes the world is going through presently. So, the money for supporting graduate students in business has - quite rightly, I feel - dried up. Hence, you are going to need to find your own US$120,000. From a psychological point of view, you are on your own. I mean, on your own. No classmates, no colleagues who are interested in your research, no support network. You will have a supervisor however. That person will keep an eye on you and check what you produce. Nevertheless, not to ensure you get your doctorate - rather to see if what you are producing can be published by him/her under his/her name and without giving any credit to you. After that, you need to get some part time teaching somewhere to gain experience. This you may find after about 3-5 years of your Doctoral research. The pay is awful, the hours always unpleasant and the students irresponsible and unfocused. Around about years 3-5 you also need to start publishing some of your research in journals of note. The competition for page space is fierce so, you need to produce tip top work. You would also need to attend important seminars/conferences around the world. Again, you need to find your own money for that. After having published 10-15 research papers, you must then focus on finishing your Doctorate. Bear in mind that the drop out rate for Ph.D. students is very high - around 75% the last time I looked so, starting a Doctorate is easy - getting one finished is tough as hell. Once you have your Doctorate, you can begin looking around for jobs at universities. 90% are part time, temporary posts with no benefits and low pay. You will need to be prepared to move around your country for about 5 year looking for a proper, full time job. If you are lucky, one will come along when you are in your mid to late 30's. Don't have a family before then, unless your partner has a great job with good pay and a lot of patience. You will make less money than a high school teacher and with fewer benefits too. Holidays are good though. That's it.
2
If you want to be an auditor, get your master's in accountancy. A finance master's or an MBA won't be all that relevant if you want to audit. There are quite a few business schools that will let you be a lecturer after a few years of good work experience and a master's. Of course being a professor will require a PhD, but you can certainly find some lower tier b-schools that will be happy to have someone with relevant work experience. If you want to work at a university, why not just go for a PhD? Every decent US business school fully funds its graduate students (previous answerer is way off base with the description of doctoral business programs) and the starting salary for finance/accounting professors is over $150k.
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