Is Accounting a Good Major? [2024 Guide]
By Lindsay Aldini
Edited by Tania Staley
Updated on September 5, 2024
Majoring in Accounting comes with a number of benefits. And with excellent pay projections ranging from $66k to $134k (Bureau of Labor Statistics), there’s plenty of room for advancement.
Let’s take a closer look at the job prospects, industry growth, earning potential, job satisfaction, and other details that give us an idea of what your future might look like if you choose to major in Accounting.
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When considering a college major, it’s always a good idea to check out potential salary, career prospects, and employer demand. Our in-depth guide of the bachelor’s degree in accounting programs will walk you through the process step-by-step!
There are many factors you will need to consider to determine whether Accounting is a good college major for you. Let’s get started!
Yes, an accounting major is a good major for many undergraduate students. The Bureau of Labor Statistics is projecting 8% job growth in business and financial occupations over the next 10 years. Common careers in the field include financial managers, analysts,, and accountants.
It’s important to consider these factors and how your chosen major measures up.
Salary
Career Prospects
Industry Growth
Job Satisfaction
Opportunities
As you can see, accounting meets all of the requirements for a good major and may offer graduates a bright and successful future.
You can even earn an accelerated accounting bachelor’s degree online from several reputable universities. Accounting also has a number of opportunities for continuing education, including an MBA or even an online accounting doctorate or Finance.
There is high demand for graduates with accounting degrees. Employment for accountants and auditors is expected to grow 7% for the next 10 years (Bureau of Labor Statistics), which is faster than the average for all occupations.
These related occupations, which are open to Accounting graduates, are expected to grow at an even faster rate:
Employment growth in this field is likely to be tied to growth in the economy and is especially promising for those in the financial industry.
Graduates with expertise in technology and those well-skilled in advisory or analytical duties will likely fare well also.
Accounting majors have many career paths they may choose from.
But here are some of the most in-demand and highly paid professions according to the U.S. Bureau of Labor Statistics:
| Career | Annual Median Salary |
| Financial Manager | $134,180 |
| Actuary | $111,030 |
| Top Executive | $107,680 |
| Personal Financial Advisor | $89,330 |
| Management Analyst | $87,660 |
| Financial Analyst | $83,660 |
| Financial Examiner | $81,430 |
| Budget Analyst | $78,970 |
| Accountant or Auditor | $73,560 |
| Cost Estimator | $66,610 |
Any of these professions may be open to you once you graduate with a degree in Accounting!
Accountants rank among the nation’s most satisfied professionals.
Here is how the accounting field rates:
| Job Satisfaction Criteria | Score |
| Upward Mobility (salary & career opportunities) | High |
| Stress Level | Average |
| Flexibility | Above Average |
With a degree in Accounting, you may find a job with low day-to-day stress levels, where you can strike a healthy work/life balance, and expect plenty of opportunities for promotions and raises in salary.
An Accounting Degree can help you land a high-paying job in the field, but a specialization can help differentiate you as an expert in a particular area.
It would be beneficial to consider a double major or complementing your Accounting major with something that will add value to a job application.
Here are a few examples from the U.S. Bureau of Labor Statistics:
Subjects like Business Administration, Business Management, and Finance also pair well with an Accounting major and can help set you apart from other job candidates. Clearly, there is a wide range of business degrees worth considering.
Some may think that with a degree in Accounting, you may become an Accountant and help people file their taxes, and that’s it. But there are many paths you can take with this degree!
With an accounting degree, you may pursue employment as a:
And these positions may lead to a more specific role as a:
There are so many options and a myriad of different paths you may take to get to where you want to be in the Accounting world. Graduates are never “stuck” being general Accountants; there is always room for growth and change within this diverse field!
It’s worth considering!
If you enjoy working with numbers and don’t mind hard work, being an Accountant may be very rewarding. The field is thriving, and there are dozens of career paths to choose from. Professionals make excellent money – half of them earning around $73,560 and more per year (Bureau of Labor Statistics) – and report a high rate of job satisfaction (U.S. News).
There are many factors you will need to consider to determine whether Accounting is the right major for you. Do you enjoy working with numbers and finances? Are you a hard worker?
Spend time researching the field and speaking to others who work in it.
Whether it’s the right path for you will be a personal decision, but if it is, you may have a bright future. A degree in Accounting may open doors to a diverse range of careers, all of which are in demand and pay well.
Not all accounts need a certification to perform their job duties, but if you want to own your own practice or move up the ladder in your organization, you may need state licensing. Thankfully, once you earn your bachelor’s degree, it’s relatively easy to complete the rest of the requirements for certification.
All you may need to do is complete a certain amount of time working in the field (varies by state but ranges from 6 months to 2 years) and pass your exam.
Check your state’s requirements for specifics.
As a student and afterward, you may benefit from being a member of one or more of these organizations.
These organizations are great sources of training, news, and support for fellow accountants in the field. Maintaining your membership in one of them may help keep you up to date in your field.
After you decide on a concentration and start narrowing down which universities you’d like to apply to, the next step is to check the schools’ accreditation. When a university or college is accredited, an independent third-party has verified that the school follows best practices and offers a high-quality educational experience.
Your school should be accredited by one of the following regional boards:
You can check any university’s accreditation status by searching for them in the U.S. Department of Education’s database.
Whereas being an accountant might be all about tracking money, becoming an accountant is often about tracking down money. Leave no stone unturned as you seek funding for your education. Look to the following sources for help:
You may qualify for grants, scholarships, tuition assistance, or deferred loans to help propel you through college.
That depends on your natural skillset and affinity for the coursework. It’s no more difficult than any business degree, provided you can pay attention to detail and have basic math skills.
To be an accountant, you often need to be precise. The books can’t be off by even one cent. If you manage your own money tightly and know exactly where every penny goes, you may not have a problem studying accountancy.
Your salary will depend mostly on your specialization and location. A tax preparer in a rural community will likely not make as much as a financial analyst in a big city. Still, any type of accountant may make a decent living wage as the average salary is $73,560, higher than the average of all occupations for $41,950 (U.S. Bureau of Labor Statistics).
Most accountants seem to think so. The job satisfaction rate is very high, job stability is secure, and the field is growing. If you have the interest and skills to work in the field, it may be a very rewarding career for you.
Yes, an accounting degree is worth it for many students. The Bureau of Labor Statistics is projecting 8% job growth in business and financial occupations over the next 10 years. Common careers in the field include tax preparer, accountant, budget analyst, financial manager, and chief financial officer.
Majoring in accounting may help you land a high-paying career in the accounting or finance fields.
The beauty of an accounting major is its flexibility.
Can you picture yourself in a corner office in one of these sectors: government, education, finance, or even public service?
Then, majoring in accounting may be a perfect fit. Apply to 5-10 of the universities above, secure financial aid, and get started!
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