I understand the shot fired across my bow, I came across a bit presumptuous. But things are exceptionally shiny in certain fields. Finance is one of them, accounting even more so. Your friend may be aiming high, perhaps looking primarily at big research universities at this point, where the atmosphere is rarer and competition higher. I also don't know where he matriculated, if he went to Compass Directional U and is trying to get a job as Prestige U or Flagship U, that would be a problem. But I'm 98% certain he'll land a job within the year at an AACSB-acctedited university for an amount in excess of $100K. The latest AACSB figures have finance new hires, newly-minted PhDs @ $110ish for finance. That's purely a function of demand for the position. Accounting is approaching $130--when you can find a candidate and don't get outbid.