In this episode of Academics and Their Money, hosts Neeka Miremadi and Inga Timmerman sit down with Nik Volkov, Associate Professor of Finance at Mercer University, to trace his path into academia and the money lessons learned along the way.

Nik shares how a frugal upbringing shaped his financial discipline, the mindset shift that came from a single conversation about income versus expenses, and why he believes academics often underestimate their capacity to earn. The discussion dives deep into academic pay stagnation, side-income opportunities, and career strategy for young PhDs, including why loyalty in academia doesn’t pay and how to protect your financial growth without sacrificing purpose.

Nik also opens up about his thriving expert witness practice, the economics of academia, and his belief that professors are fairly compensated but often fail to fully capitalize on their freedom and flexibility. He closes with candid reflections on merit-based pay, financial independence, and the joy he still finds in the classroom.

A conversation packed with practical insights, humor, and hard-earned wisdom for anyone navigating the academic money maze.

If you’ve got questions, suggestions for future topics, or just want to say ‘hello,’ you can reach us at https://attainablewealthfp.com/schedule-a-call/.

Any product or financial recommendations provided by Academics and Their Money, Inga, or Neeka are made solely in the author’s opinion and do not constitute professional financial or legal advice. All content is for educational purposes only.