What can I do with an accounting degree?

Question

Seriously. I'm an accounting major, but I have no clue what I'm going to do once I graduate. I'm an accounting major b/c it's the only thing my school is actually good at teaching. We're the #2 party school in the nation, so the focus really isn't on academics. However, our accounting program is 22nd or so and our honors college is in the top three, so being an honors student I figured accounting was my best bet for a legitimate education. So what can I do (besides CPA, I know that one already)? And around how much will I be getting paid? Should I just get my degree and go to law school instead of using the accounting degree?

Answer 1

If you chose to add to your accounting major and:

a) do finance as well you could then move into an investment banking or an analyst type role.  this will probly lead to a much higher salary in 5 years time then straight accounting firm.  further study (MBA for ibanking or CFA for an analyst role).  as an investment banker the earning potential is huge (grads can earn  but youll be working 70/80hr weeks for your first few years and possibly beyond.  big banks pay 100k base and then bonuses are potentially huge for associates.  ie 50-100%

b) take the accounting path you can go work for a big 4 firm.  you will be expected to then do CPA.  CPA with a few years experience will be on about 80k. Info on CPA salarys is below from another answer:

According to a salary survey conducted by the National Association of Colleges and Employers, bachelor’s degree candidates in accounting received starting offers averaging $43,269 a year in 2005; master’s degree candidates in accounting were offered $46,251 initially.

According to a 2005 salary survey conducted by Robert Half International, a staffing services firm specializing in accounting and finance, accountants and auditors with up to 1 year of experience earned between $28,250 and $45,000 a year. Those with 1 to 3 years of experience earned between $33,000 and $52,000. Senior accountants and auditors earned between $40,750 and $69,750, managers between $48,000 and $90,000, and directors of accounting and auditing between $64,750 and $200,750. The variation in salaries reflects differences in size of firm, location, level of education, and professional credentials.

In the Federal Government, the starting annual salary for junior accountants and auditors was $24,677 in 2005. Candidates who had a superior academic record might start at $30,567, while applicants with a master’s degree or 2 years of professional experience usually began at $37,390. Beginning salaries were slightly higher in selected areas where the prevailing local pay level was higher. Accountants employed by the Federal Government in nonsupervisory, supervisory, and managerial positions averaged $74,907 a year in 2005; auditors averaged $78,890.

Answer 2

It really doesn't matter what you get your degree in, it is how you make use of the knowledge that you obtained in college. Many employers view a degree as this person has the competence to complete something. Think of college as a way to open up better opportunities for yourself. There are several things that you can do with accounting. e.g - Payroll, financial budgeting, financial forecasting, CFO, teller, its endless. But I suggest finding something that you feel you will enjoy and could do for an extended amount of time. Personal happiness is something I think  outweighs how much you get paid considering accounting may be something you do for the rest of your life. How much you get paid is up to you.

Answer 3

After finishing accounting degree and became CPA you could pursue to a law degree...there are a lot of opportunity for being an accounting major...