I agree, the issue seems to be that the job market grows more for low level positions than those ones that require graduate degrees. The few jobs that require PhDs seem to be unattainable, I was just looking at the requirements of the jobs in my area that require a PhD and I don't qualify for none of them, many require multiple skills, 10 years of experience and willing to pay 50 to 70K. There is also a growing trend to hire more adjuncts and less full time people in IT. It is just easier to replace people when technologies change when they are part time that firing tenured people that do not adapt to new technologies. An adjunct career is more feasible but this means grading multiple papers a week, no benefits, no job security and a need to keep retraining all the time as course needs change constantly. My adjunct career was giving me enough to pay the bills but things were extremely hectic, some schools would give you a policy of 3 days grading for assignments. Needless to say that you would just give A or Bs to avoid wasting time with student's complaints and give little feedback. The student is the king in the for profit environment so you cannot afford to piss anyone off otherwise you will be showing the door, this is something that I don't miss from my adjunct career. My wife is hiring an admin assistant for her office and got resumes of few people with PhDs and few with bachelors degrees, obviously she is not going to interview them but that shows the lack of opportunities for those with high credentials. At some point you have to give it up, it is true that there is a shortage of accounting professors but by the time you qualify the jobs might not be there anymore. It is going to take you some time to qualify for them, you need to get your credentials, publish few papers in journals and adjunct few accounting classes before people start giving you interviews for tenure tracks in accounting. It might happen but again it might not, but at some point you need to give it up if it doesn't. At some point PhDs in CS were gold, most schools would hire them in large quantities given the high demand of CS education. Today is a different story, most PhD CS graduates work as software developers in positions that only require a BS or MS. I have Doctorate in MIS, today many schools are closing MIS departments as these degrees are not so in high demand as CS people with some business background are taking jobs in MIS. I retrained in IT Audit and Risk Management but it took me years before moving into this area. Things move too fast in the modern world and it is hard to catch trends that last very short periods of time.