An Accounting Degree is an excellent degree. The accounting degree is designed for students who are seeking accounting positions in business, industry, or government. Opportunities for immediate employment are growing and there is a wide and varied selection of jobs from which to choose.
A bachelor’s in accounting is the path to becoming a Certified Public Accountant (CPA). Almost all accountancy bachelor’s degrees will meet the requirement to take the state CPA exam. Once you become a licensed CPA your job prospects will grow and become even more in demand. Some high-performing CPAs can earn a high six-figure salary.
Types Of Careers You Can Pursue With An Accounting Degree
A graduate with an undergraduate degree in Accountancy might pursue a career in one of the following areas:
- Accountant
- Financial Manager / Controller
- Personal Financial Advisor
- Financial Analyst
- Budget Analyst
- Auditor
- Management Analysts
- Tax Examiners, Tax Collectors, and Revenue Agents
- Top Executive
Now that we have established the different careers that you can pursue with a degree in accounting, let’s take a deeper look at those careers. Annual Income and job outlook statistics come from the Bureau of Labor Statistics.
Accountant
Accountants prepare and examine financial records, identify potential areas of opportunity and risk, and provide solutions for businesses and individuals. They ensure that financial records are accurate, that financial and data risks are evaluated, and that taxes are paid properly. They also assess financial operations and work to help ensure that organizations run efficiently.
- Annual Income: $77,250
- Job Outlook For 2021-31: 6% (As fast as average)
- How To Become An Accountant: A bachelor’s degree in accounting or a related field is typically required to become an accountant or auditor. Completing certification in a specific field of accounting, such as becoming a licensed Certified Public Accountant (CPA), may improve job prospects.
Financial Manager /Controller
Financial managers are responsible for the financial health of an organization. They create financial reports, direct investment activities, and develop plans for the long-term financial goals of their organization.
Controllers direct the preparation of financial reports that summarize and forecast an organization’s financial position. These reports may include income statements, balance sheets, and analyses of future earnings or expenses. Controllers also are in charge of preparing reports required by governmental agencies that regulate businesses. Often, controllers oversee the accounting, audit, and budget departments of their organization.
- Annual Income: $131,710
- Job Outlook For 2021-31: 17% (Much faster than average)
- How To Become An Financial Manager: Financial managers typically need a bachelor’s degree and 5 years or more of experience in another business or financial occupation, such as an accountant, securities sales agent, or financial analyst.
Personal Financial Advisor
Personal financial advisors provide advice on investments, insurance, mortgages, estate planning, taxes, and retirement to help individuals manage their finances. They assess the financial needs of individuals and help them with decisions on investments (such as stocks and bonds), tax laws, and insurance. Advisors help clients plan for short- and long-term goals, such as budgeting for education expenses and saving for retirement through investments. They invest clients’ money based on the clients’ decisions. Many advisors also provide tax advice or sell insurance.
- Annual Income: $94,170
- Job Outlook For 2021-31: 15% (Much faster than average)
- How To Become An Personal Financial Advisor: Personal financial advisors typically need a bachelor’s degree, although employers usually do not require a specific course of study. However, common fields of degree include business, social science, or mathematics. Courses in investments, taxes, estate planning, and risk management may be helpful.
Financial Analyst
Financial analysts guide businesses and individuals in decisions about expending money to attain a profit. They assess the performance of stocks, bonds, and other types of investments. Financial analysts generally focus on trends affecting a specific geographical region, industry, or type of product. For example, they may focus on a subject area or a foreign exchange market. They must understand how economic trends, new regulations, policies, and political situations may affect investments.
- Annual Income: $95,570
- Job Outlook For 2021-31: 9% (Faster than average)
- How To Become An Financial Analyst: Most entry-level positions for financial analysts require a bachelor’s degree; a common field of degree is business. Some employers prefer to hire job candidates who have a master’s degree.
Budget Analyst
Budget analysts help public and private organizations plan their finances. They prepare budget reports and monitor organizational spending. Budget analysts advise organizations—including governments, private companies, and universities—about the details of their finances. They prepare annual and special reports and evaluate budget proposals. They analyze data to determine the costs and benefits of various programs, and they recommend funding levels based on their findings. Although government officials or top executives in a private company usually decide on an organization’s budget, they rely on the work of budget analysts to prepare the information for that decision.
- Annual Income: $79,940
- Job Outlook For 2021-31: 3% (Slower than average)
- How To Become An Budget Analyst: Budget analysts typically need at least a bachelor’s degree in fields such as accounting, business, social science, psychology, or mathematics. Because developing a budget requires numeracy and analytical skills, coursework in accounting, economics, and statistics is helpful.
Auditor
Accountants and auditors prepare and examine financial records, identify potential areas of opportunity and risk, and provide solutions for businesses and individuals. They ensure that financial records are accurate, that financial and data risks are evaluated, and that taxes are paid properly. They also assess financial operations and work to help ensure that organizations run efficiently.
- Annual Income: $77,250
- Job Outlook For 2021-31: 6% (As fast as average)
- How To Become An Auditor: A bachelor’s degree in accounting or a related business field is typically required to become an auditor. Completing certification in a specific field of accounting, such as becoming a licensed Certified Public Accountant (CPA), may improve job prospects.
Management Analysts
Management analysts, often called management consultants, recommend ways to improve an organization’s efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues. The work of management analysts may vary from project to project. Some projects require a team of analysts, each specializing in one area. On other projects, analysts work independently with the client organization’s managers.
- Annual Income: $93,000
- Job Outlook For 2021-31: 11% (Much faster than average)
- How To Become An Management Analyst: A bachelor’s degree is the typical entry-level requirement for management analysts. However, some employers prefer to hire candidates who have a master’s degree in business administration (MBA).
Tax Examiners, Tax Collectors, and Revenue Agents
Tax examiners and collectors, and revenue agents determine how much is owed in taxes and collect tax from individuals and businesses on behalf of federal, state, and local governments. They review tax returns, conduct audits, identify taxes owed, and collect overdue tax payments.
- Annual Income: $56,780
- Job Outlook For 2021-31: -7% (Decline)
- How To Become An Tax Examiner, Collector, or Revenue Agent: Tax examiners and collectors, and revenue agents typically need a bachelor’s degree in accounting or a related field. However, the required level of education and experience varies with the position and employer.
Top Executive (CEOs)
Top executives plan strategies and policies to ensure that an organization meets its goals. They coordinate and direct work activities of companies and organizations. The responsibilities of top executives largely depend on an organization’s size. In small organizations, such as an independent retail store, an owner or manager often is responsible for hiring, training, quality control, and day-to-day supervisory duties. In large organizations, chief executives typically focus on formulating policies and planning strategies, while general and operations managers direct day-to-day operations.
- Annual Income: $98,980
- Job Outlook For 2021-31: 6% (As fast as average)
- How To Become A Top Executive: Top executives typically need a bachelor’s or master’s degree in an area related to their field of work, such as business, accountancy, or engineering.
Math Classes
As an accountancy major you will be required to take many math classes. That can be intimidating. Don’t let it be. Learning how to pass your math classes can be the secret to seeing the major through to graduation. Here are the best secrets on How To Pass All Your Math Classes.
—Sensei
