We describe our experiences with practice-oriented fellowships along with survey data gathered from other full-time accounting faculty who participated in similar fellowships between 2000 and 2010 across a broad set of sponsoring organizations (including the Securities and Exchange Commission [SEC], the Financial Accounting Standards Board [FASB], public accounting firms, and other organizations). Our survey results identify commonalities in (1) faculty members' backgrounds, (2) fellowship administration and logistical issues surrounding the transition into fellowships, (3) the nature of the work experience during the fellowship, (4) transitions back to academia following the fellowships, and (5) faculty members' evaluations of their fellowship experience. By reporting on the issues, costs, and benefits from participating in practice-oriented fellowships, we hope faculty will understand more about these opportunities and be more likely to participate in practice-oriented fellowships. We also hope that this paper helps universities and sponsoring organizations understand better the needs and concerns of faculty members who are considering whether to participate in these fellowships.

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