March 7, 2008, Newsletter Issue #38: Cost of an Accounting Ph.D. Program

Tip of the Week

When discussing what an accounting Ph.D. program might cost (or any other doctoral program, for that matter), the word MIGHT becomes the critical factor. Unlike most Bachelor's and Master’s level programs, accounting doctoral programs theoretically cost from $0 (not a typo) up to $40,000 or more per year of study. While this may seem like a hard-to-believe range of expense, there is a rather simple answer.

Unlike lower levels of study, most doctoral programs are focused on the student’s own research and study, NOT professor-led classes every day. accounting Ph.D. programs, like all others, use professorial involvement for guidance, mentoring and “administration” of the student within the program. It is assumed that the student is already somewhat of an expert in his/her subject matter and is independently taking their expertise to the next, top level. Consequently, even in on-campus situations, an accounting doctoral program is also not dependent on in-person classroom studies. Therefore, the two largest expense items of higher education, professor compensation and the cost of maintaining classroom buildings are totally minimized. Should you elect to earn an accounting Ph.D. online, the circumstances are a bit different. There are costs to mentor, teach and administer distance learning that remain even in a doctoral situation.


Here is an example: Should you be accepted to Johns Hopkins University in a Ph.D. program, the cost for on campus study and residence is around $29,500 per year. On the other hand, if you choose not to be a campus resident (don’t forget, you’ll still have living expenses, however), your cost for tuition only is just $2,950 per year – less than a full year at a community college! Another example is the University of Chicago, a most prestigious institution. The cost of three quarters (nine months) of study in a doctoral program is $27,300, including the cost of tuition – which is $0. As you can see, the major cost of earning an accounting education in a Ph.D. situation is staying alive while not earning a professional salary for full-time employment.


Earning an accounting Ph.D. online is a bit different. With flexibility in class and study schedules, you can proceed at your own pace, while keeping your professional employment if you so desire, since the “classroom” may be available 24/7/365 theoretically. The cost varies widely for online accounting doctoral programs, but you can estimate around $500 to $700 per credit. As you learn more about the universities offering distance study for a doctorate, you’ll know about their minimum credit requirements and their cost per credit to determine the true expense to earn your Ph.D.

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