The professors at my D’s school that teach theory also teach in other areas: composition, musicology, piano. Some have high faultin’ undergrad degrees and some don’t. They are all full-time and tenured. Look at some colleges and universities and see for yourself what degrees the professors have and when and where they got them. That might give you an idea of whether or not they worked before going on to the next degree. I actually think there are several directions you can go in music and know many people who done all of it and lead exciting and fulfilling careers.
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