Accounting

Types of Degrees Accounting Majors Are Getting

The following table lists how many accounting graduations there were in 2020-2021 for each degree level.

Education Level	Number of Grads
Bachelor’s Degree	51,042
Master’s Degree	18,187
Basic Certificate	13,126
Associate Degree	11,525
Undergraduate Certificate	4,263
Graduate Certificate	1,091
Doctor’s Degree	31

What Accounting Majors Need to Know

O*NET surveyed people in occupations related to accounting and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.

Knowledge Areas for Accounting Majors

According to O*NET survey takers, a major in accounting should prepare you for careers in which you will need to be knowledgeable in the following areas:

• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Skills for Accounting Majors

When studying accounting, you’ll learn many skills that will help you be successful in a wide range of jobs - even those that do not require a degree in the field. The following is a list of some of the most common skills needed for careers associated with this major:

• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Speaking - Talking to others to convey information effectively.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Abilities for Accounting Majors

Some of the most crucial abilities to master while a accounting student include the following:

• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.

What Can You Do With a Accounting Major?

People with a accounting degree often go into the following careers:

Job Title	Job Growth Rate	Median Salary
Accountants	10.0%	$70,500
Auditors	10.0%	$70,500
Bioinformatics Technicians	9.3%	$48,330
Brokerage Clerks	5.0%	$51,400
Budget Analysts	6.5%	$76,220
Business Professors	18.0%	$83,960
Credit Analysts	8.3%	$71,520
Financial Analysts	10.8%	$85,660
Financial Examiners	9.7%	$80,180
Financial Managers, Branch or Department	18.7%	$127,990
Statistical Assistants	9.3%	$48,330
Tax Preparers	10.7%	$39,390
Treasurers and Controllers	18.7%	$127,990

Who Is Getting a Bachelor’s Degree in Accounting?

This is one of the most frequently chosen undergraduate majors. It is the 8th most popular in the country with 51,030 students graduating with a bachelor’s in accounting in 2021. According to recent stats this major attracts about equal numbers of men and women. Roughly 51% of the graduates are women, and 49% are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of accounting majors is as follows:

Race/Ethnicity	Number of Grads
Asian	4,301
Black or African American	3,505
Hispanic or Latino	7,201
White	29,842
International Students	2,917
Other Races/Ethnicities	3,276

Geographic Diversity

Accounting appeals to people across the globe. About 5.7% of those with this major are international students. The most popular countries for students from outside the country are:

• China
• South Korea
• Saudi Arabia
• Vietnam
• Taiwan

How Much Do Accounting Majors Make?

Bachelor’s Degree Starting Salary

The median starting salary of students who graduated in 2017-2019 with a bachelor’s degree in accounting was $46,292 per year. These stats come from the U.S. Department of Education. During this timeframe, most salaries fell between $42,381 (25th percentile) and $51,705 (75th percentile).

Note that some of these people may have jobs that are not directly related to a accounting degree.

Salaries According to BLS

Average salaries range from $50,110 to $90,310 (25th to 75th percentile) for careers related to accounting. This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Amount of Education Required for Careers Related to Accounting

Some careers associated with accounting require an advanced degree while some may not even require a bachelor’s. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

Find out what the typical degree level is for accounting careers below.

Education Level	Percentage of Workers
Less than a High School Diploma	0.5%
High School Diploma - or the equivalent (for example, GED)	14.4%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production)	3.9%
Some College Courses	9.6%
Associate’s Degree (or other 2-year degree)	8.4%
Bachelor’s Degree	40.0%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	3.2%
Master’s Degree	13.8%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.	0.3%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.	0.6%
Doctoral Degree	5.7%
Post-Doctoral Training	0.1%

Online Accounting Programs

In 2020-2021, 2,151 schools offered a accounting program of some type. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level	Colleges Offering Programs	Colleges Offering Online Classes
Certificate (Less Than 1 Year)	0	0
Certificate (1-2 years)	645	184
Certificate (2-4 Years)	18	5
Associate’s Degree	1,022	278
Bachelor’s Degree	185	65
Post-Baccalaureate	0	0
Master’s Degree	634	146
Post-Master’s	22	0
Doctor’s Degree (Research)	24	1
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Is a Degree in Accounting Worth It?

The median salary for a accounting grad is $78,820 per year. This is based on the weighted average of the most common careers associated with the major.

This is 98% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $778,400 after 20 years!

Majors Related to Accounting

You may also be interested in one of the following majors related to accounting.

Major	Number of Grads
Business Administration & Management	416,590
Finance & Financial Management	57,778
General Business/Commerce	56,042
Marketing	52,916
Management Sciences & Quantitative Methods	43,382
Human Resource Management	28,787
Business Support & Assistant Services	19,119
Hospitality Management	17,689
Management Information Systems	13,680
Entrepreneurial Studies	11,319
International Business	9,101
Real Estate	6,547
General Sales & Marketing	5,923
Business/Managerial Economics	5,667
Specialized Sales, Merchandising & Marketing	5,191
Other Business, Management & Marketing	4,822
Construction Management	3,846
Insurance	1,809
Taxation	1,547
Business/Corporate Communications	1,029
Telecommunications Management	55

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
• Image Credit: By Pixabay under License

More about our data sources and methodologies.