Are you into Accounting? Do you plan to take Accounting as your college major? Then you may have a lot of questions on your mind.
Is Accounting a good major? This is among popular questions asked by students before actually taking Accounting. To determine if a major is good for you, there are several aspects and factors to take into account.
Before all, you should know that there is no such best or worst major. Everyone has a different interest, thus a good major is one that can channelize your interest.
Accounting, for example, is good for people with excellent analytical skills and comprehensive knowledge of management accounting. If you are among those people, find reasons why Accounting is good for you!
Is Accounting a Good Major? Analyze the Reasons
When it comes to Accounting for the future, there are many reasons why this major is among the best choices. In the matters of career prospects, industry growth, as well as salary, it can be said that Accounting is promising.
It leads to in-demand job prospects, high salary, and wide opportunities to pursue the career. To get to know why Accounting is a good major, check this out!
1. Career prospects
The demand for Accounting graduates is getting higher each year. This high demand leads to an excellent career opportunity.
Statistics showed that the demand for auditors and accountants is increasing by 10% until 2026. This means the career demands increases faster than all occupations in average.
There are several occupations you can choose after getting Accounting degree. You can determine one that fits you best such as Financial Manager, Management Analyst, Personal Financial Advisor, Cost Estimator, and Financial Analyst.
Since the employment growth in Accounting field goes hand in hand with the economic growth, chances are that your opportunity for a good career is wide opened.
2. Salary
Another thing that becomes the biggest concern when determining a college major is about salary. Will you make enough money to support your life in the future?
Most of the careers in Accounting field offer a high salary. Some occupations even pay over $100,000 per year.
Several occupations in this field that pay a high salary includes Financial Manager ($125,080), Top Executive ($104,700), Actuary ($101,560) and Personal Financial Advisor ($90,640) per year.
Though those positions can only be achieved after a long year of experience, you shouldn’t be discouraged.
There are some other occupations hiring fresh graduates which also offers a high salary. Those include Auditing clerk (39,240), Cost Estimator ($63,110), and Accountant ($69,350) per year.
From here, it has been clear enough that salary is not a thing you should worry about when choosing Accounting major.
| Career | Salary |
|---|---|
| Financial Manager | $125,080 |
| Top Executive | $104,700 |
| Actuary | $101,560 |
| Personal Financial Advisor | $90,640 |
| Financial Analyst | $84,300 |
| Management Analyst | $82,450 |
| Financial Examiner | $81,690 |
| Budget Analyst | $75,240 |
| Accountant / Auditor | $69,350 |
| Cost Estimator | $63,110 |
3. Job satisfaction
Satisfaction becomes an important thing to take into account. It is often associated how satisfied the professionals working in this field. Among other occupations, ones in Accounting field have good satisfaction criteria.
For salary and career opportunities, it showed a high score. This means Accounting degree can lead you to a good and satisfying salary as well as career opportunity.
The next is stress level which showed an average score. Dealing with numbers and analysis may be stressful but professionals said that it remains manageable.
The last criterion is about flexibility. Career in Accounting field provides satisfaction that is above average. This means you can do other things aside from your job such as strike a healthy work, go to the gym, and many other activities. This also means your life is not captivated by your work.
Who Is Accounting Major for?
One of the most common mistakes when choosing a college major is not considering about your capability. Seeing from the career prospects, salary, and satisfaction, Accounting seems a perfect major you should take.
But wait! Is it a good major for you? The answer depends on your ability as well as interest.
Accounting major is only for people who are into numbers. If you love working with numbers, go for it. Most occupations in this field also require hard work. So, if you don’t mind the hard work, choosing Accounting major does not take you to a wrong way.
In addition, it is also necessary to know the essential skills needed to be successful in Accounting major. The skills may include:
1. Strong analytical skills and math
Accounting is unarguably a major where you must deal with numbers, math, and analysis. To cope with this, having strong analytical skills and math will be helpful.
2. Attention to detail
You are required to have a strict attention to detail. Counting job can be messy when you are lack of attention to detail. Thus to be successful, it is a must to have a strict attention to detail.
3. Familiarity with Accounting software
Accounting field knows several programs and software that are used to make your job easier. Make sure to be familiar with Accounting software such as Quickbooks, Microsoft Office Suite, or other software so that you will not find problem in the future.
4. Organization and planning
Having a good skill of organization and planning will be helpful when joining Accounting major. You are required to think orderly and make a well planning. In a real world, the company finance may depend on your capability of organizing and planning.
Despite choosing a major college is your personal decision, it is advised to spend time for a small research in the field.
You can also ask your parents, friends, or relatives who work in Accounting field and ask for their advice. Open your mind and be realistic, don’t be easily tempted by high salary offer and brilliant career opportunities.
Final Verdict
Is Accounting a good major for you? The answer may vary, depending on your interest as well as capability. If you are into numbers and counting, Accounting is a great major to join.
This field offers a number of promising occupations that offer a high salary. Accounting can also lead you to brilliant career opportunities in the future. Just make sure you can cope with the required skills to be successful in the field.
