A DEGREE IN ACCOUNTING IS IT WORTH IT? People from all areas of life frequently choose the career path of becoming accountants, but unless you are familiar with the work itself or the education necessary to enter this industry, you might wonder if it is worthwhile to pursue.
Here are some things to think about while selecting a degree to pursue, as the answer to this question will obviously rely on your individual circumstances, abilities, and aspirations.
ASSURANCE OF JOB SECURITY Once you become certified as an accountant, you may almost certainly count on being able to obtain employment, either in a larger company or as a freelancer managing your own firm and taking on client work.
Accounting services are constantly in demand for the straightforward reason that everyone has tax concerns that need to be resolved and financial challenges to conquer. Indeed, job growth looks good going forward and as a result, the long-term prospects for someone with a degree in accounting are comfortingly strong.
Naturally, this mostly applies to certified public accountants (CPAs), so getting accredited after completing your formal schooling makes sense. Get a thorough explanation of the meaning of CPA if you want to be aware of everything.
MANY DIFFERENT CAREER TRAILS CAN BE TAKEN Although you may want to understand the ins and outs of bookkeeping early in your career to give yourself the most possibilities later on, an accounting degree does not obligate you to work in finance.
As a CPA, you can handle auditing, offer guidance to huge firms, and investigate a wide range of other money management options in addition to balancing the books for businesses.
For those looking for higher level careers, taking it a step further and earning a master’s degree in accounting will open even more doors. Meanwhile, if you complete your accounting degree but decide that becoming a CPA is not for you, it is equally simple to transition into other professions. The world will be your oyster, from operations management to data-driven business analysis and beyond.
Degree costs can change. Depending on the school you attend and the length of the program, the price of an accounting degree will vary. For instance, while the average yearly cost of attendance at a public college is currently slightly under $9,000, you may anticipate paying roughly four times that amount or more for the most prestigious institutions.
Obviously, this is true for any degree, regardless of the field, so it all comes down to finding the best school that matches your objectives. It’s important to keep in mind that any student loan debt you accrue can be compensated for by the anticipated wage you will receive after you are certified. In comparison to CPAs, entry-level bookkeeping professions typically pay roughly $40,000 per year on average.
WILL GENERATE A VARIABLE SKILL SET The last point to understand about pursuing an accounting degree is that many of the skills you will gain are transferable and generally useful in other professional fields as well as more widely in daily life.
You should leave your studies a well-rounded person, with the capacity to solve issues, think strategically, manage your time well, and communicate and work with people effectively. This should serve as a strong indication that earning an accounting degree is worthwhile, if nothing else.