Road map to applying for a doctorate in accounting
Finding the right school is only half the battle.
By Sarah Garven, CPA, Ph.D., and Bailee Pennington
Pursuing a doctorate in accounting can be an exciting and highly rewarding journey. However, especially if you're more accustomed to applying for jobs than to graduate programs, the application process can seem bewildering. It may be more time-consuming and require more preparation than anticipated.
This article can serve as your road map, making you aware of the possible roadblocks, speed bumps, and even the burnout you may encounter along the way (see the sidebar "Tips for Preventing Burnout" below). We outline the process of choosing schools to apply to, getting all your materials ready for application, and planning your time so you can meet the application deadlines. This guide is intended to help you navigate the highly competitive application process and position yourself as a prime candidate for consideration.
ROUTE PLANNING: CHOOSING THE TYPE OF DEGREE TO PURSUE
After you've made the decision to pursue a doctorate in accounting, the next choice you must make is which type of doctorate you want: a Ph.D. in accounting or a doctorate in business administration (DBA) with a concentration in accounting. Traditional accounting Ph.D. programs require full-time residency and consist of face-to-face instruction in a campus classroom. In these programs, tuition is usually waived, and students receive a stipend in exchange for working as a research or teaching assistant.
Nontraditional DBA programs may be conducted completely online or can be "hybrid" programs, where most instruction takes place online, but students are also required to be on campus multiple times throughout the program. One advantage of nontraditional programs is they allow you to pursue a degree while continuing to work, although some students may have difficulty balancing the demands of the program with the demands of their job (see the sidebar "Doctoral Programs for Practitioners" below). A drawback is that the cost of such programs can be quite high ($40,000 to $120,000) compared with the cost of traditional accounting Ph.D. programs. Also, note that having a DBA can affect the types of schools that will hire you as a faculty member, as many larger, research-focused schools prefer or even require candidates to hold a Ph.D. This may not be a problem if you plan to teach at a smaller or teaching-focused school.
CHOOSING SCHOOLS TO APPLY TO
After you determine which type of degree you want to pursue, you will then need to decide which schools to apply to. It is important to keep in mind that most schools accept only a handful of applicants each year. To increase your chances of acceptance into a program, you should apply to at least six to eight schools.
Consider some of the following factors when making this decision:
A school's accreditation status could affect your viability as a candidate for a faculty position. In the United States there are two main types of accreditation: regional and specialized. Regional accreditation applies to the school as a whole, whereas specialized accreditation applies to specific programs within the school. Accreditation from the Association to Advance Collegiate Schools of Business (AACSB) is widely considered the highest standard of accreditation for business schools, and many schools require faculty applicants to possess a Ph.D. or doctorate degree from an AACSB-accredited institution (see the box, "Helpful Resources").
Your future career plans
Consider also where you would like to work after graduation. If you are looking for a position at a research-intensive school, choose a graduate program with a strong reputation for research. Also, note that graduates of a school's accounting Ph.D. program typically do not find their first positions at the school from which they received their Ph.D. Thus, if you know that you would like to work at XYZ University immediately after you finish your Ph.D., you should probably not apply to that school's Ph.D. program.
Your research interests
Explore the type of work your prospective schools' faculties engage in, both the research areas they tend to specialize in (e.g., audit, tax, financial accounting, governmental/not-for-profit accounting, management accounting, accounting history, etc.) and the research methods (behavioral or archival) they tend to use. This is an important step even if you're not yet sure what type of research you want to engage in, because later in your career you will be expected to develop research interests.
If you find that no one at the school does research you are interested in, or that most of the faculty is engaged in research in areas or methods that don't appeal to you, then that school will probably not be a good fit.
Other factors to consider include location, culture, and reputation. Depending on your situation, a school's location may be a major factor in choosing whether to apply to it. To determine whether a school would be a good cultural fit, consider reaching out to the program's coordinator, current students, or recent graduates. You can usually find their names and contact information on the program's website.
A program's research reputation can be an important factor in your application decision. To get a sense of the school's general and research reputation, speak with the program's coordinator and examine the program's website for listings of faculty publications, job placements of recent graduates, and mentions of its ranking in Public Accounting Report's Annual Professors Survey. (In this survey, which requires paid access, accounting faculty rank the best accounting doctoral programs in the country.) Additionally, you may want to view Brigham Young University's yearly accounting research rankings.
ROADBLOCKS: APPLICATION REQUIREMENTS AND LOGISTICS
Your application journey may come to a quick end if you encounter certain roadblocks that prevent you from applying to or being accepted into a program. Read prospective schools' admission requirements carefully, and be especially mindful of the following:
Required classes, degrees, and/or work experience
Some schools either require or strongly recommend having certain prerequisite classes (e.g., calculus, linear algebra, and microeconomic theory), a master's degree in business or accounting, or one or more years of work experience.
Most Ph.D. programs require applicants to provide their Graduate Management Admission Test (GMAT) scores. If you have previously taken the GMAT, make sure your score is recent. If you took the test more than five years ago, you will need to retake it.
Studying for the GMAT is important to optimize your chances of being accepted into a program. While minimum score requirements can be in the low to mid-600s, several schools note on their websites that the average scores of students accepted into the program are 700 or above.
Be aware of application deadlines. Priority deadlines for most Ph.D. programs are in December or January prior to the fall semester of entrance.
Whether a school is accepting doctoral students in a given year
You may find that some schools are not accepting applications to their doctoral program for the upcoming school year because they lack the resources to support doctoral students.
SPEED BUMPS: ALLOW AMPLE TIME TO COMPLETE YOUR APPLICATION
Beware of speed bumps that can slow your application journey. It's advisable to start planning the application process a year in advance. Most schools require the following application materials, all of which can take weeks or even months to compile or obtain:
Most schools require two or three letters of reference, and many specify that some or all must be academic references. Depending on how long you have been out of contact with your references, it may take a bit of research and time to find their current contact information and to hear back from them.
Schools will require transcripts from undergraduate and graduate schools you previously attended. Note that transcript processing and delivery time can vary depending on the mode of delivery, holds on your account, and the length of time since graduation.
You can take the GMAT only once every 16 calendar days, five times within a 12-month period, and eight times total in your lifetime. Plan accordingly so you can submit or update your GMAT score before your application is due.
If it has been a while since you last updated your résumé, you may need some time to research items such as official job duties, dates of service, and reference contact information.
Most schools require applicants to provide a written personal statement and may request additional essays as well. The personal statement is a very important piece of the application process in which you attempt to "sell" yourself to the school; therefore, it is a good idea to put a lot of time and thought into your responses and to hire an editor to read over your responses and provide feedback. Typographical errors, poor grammar, or a lack of enthusiasm are likely to leave a bad impression on the application reviewers.
EYES ON THE PRIZE
The application process is a critical phase in your journey to a doctorate, and it presents many challenges. We hope the tips provided in this article will help keep you on course and prevent you from encountering unwelcome surprises while navigating the application process. Proper planning, preparation, and knowledge can help you achieve your dream of receiving a doctorate in accounting.