For decades, concerns about a shortage of academically qualified accounting faculty have shaped discussions within accounting education. While much of the debate has focused on the supply of new PhD graduates, an equally important issue has received less attention: the aging of the existing faculty workforce.
Demographic shifts are increasingly influencing universities around the world. As larger cohorts of professors approach retirement age, institutions face the prospect of replacing experienced faculty members in a highly competitive market. This challenge is particularly acute in accounting, where doctoral-qualified academics remain relatively scarce and recruitment pipelines are often insufficient to meet future demand.
An aging faculty population creates several risks for higher education institutions. Retirements can lead to staffing shortages, increased teaching loads for remaining faculty, larger class sizes, and reduced research capacity. These pressures may be especially pronounced at institutions that already face challenges in attracting and retaining doctoral-qualified academics. Understanding the age profile of accounting faculty is therefore critical for workforce planning, succession management, and the long-term sustainability of accounting programs.
While previous studies have highlighted the potential shortage of accounting academics, relatively little evidence exists regarding which types of institutions are most vulnerable to upcoming retirements. Identifying these institutions can help universities, accreditation bodies, and professional organizations develop targeted strategies to address future faculty shortages.
An International Perspective on Accounting Faculty Aging
A recent study by Paul Wertheim, Curtis E. Clements, and O. Scott Stovall, published in the Accounting Research Journal, provides one of the most comprehensive analyses of accounting faculty demographics to date. Using data from the American Accounting Association’s Accounting Faculty Database, the authors examine the age distribution of accounting faculty holding PhDs in accounting at both US and international institutions.
The findings reveal a significantly aging academic workforce. The average age of accounting faculty with a PhD in accounting is approximately 55 years in the United States and 54 years internationally. Nearly half of all accounting PhD faculty are aged 55 or older, while more than one-fifth of US accounting faculty have already reached or exceeded the traditional retirement age of 65.
Beyond documenting these demographic trends, the study investigates which types of institutions are most exposed to the impact of future retirements. The results indicate that non-AACSB-accredited institutions, private universities, undergraduate-only institutions, non-urban universities, and smaller schools tend to have older accounting faculty and a higher proportion of faculty members above retirement age. As a result, these institutions may face greater challenges in replacing retiring professors and maintaining program capacity in the years ahead.
The study highlights an important shift in the discussion surrounding accounting faculty shortages. While increasing the number of doctoral graduates remains important, universities must also address the demand-side implications of an aging faculty population. Strategic succession planning, faculty development initiatives, and efforts to attract new doctoral-qualified academics will likely become increasingly important as retirements accelerate.
For accounting educators and academic leaders, the findings provide a timely reminder that demographic trends are not merely a human resources issue. They have direct implications for teaching capacity, research productivity, accreditation requirements, and the future competitiveness of accounting programs.
The full article, Age Characteristics of US and Non-US Accounting PhD Faculty and Factors Affecting the Impact of Future Faculty Retirements, by Paul Wertheim, Curtis E. Clements, and O. Scott Stovall, is published in the Accounting Research Journal and can be accessed here: https://doi.org/10.1108/ARJ-05-2025-0190