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Taxation Major

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Taxation

5 Bachelor's Degrees Annually
1,553 Master's Degrees Annually
#321 in Popularity
$60,500 Median Salary

Types of Degrees Taxation Majors Are Getting

The following table lists how many taxation graduations there were in 2018-2019 for each degree level.

Education Level Number of Grads
Master’s Degree 1,553
Basic Certificate 146
Graduate Certificate 58
Associate’s Degree 15
Undergraduate Certificate 6
Bachelor’s Degree 5

What Taxation Majors Need to Know

In an O*NET survey, taxation majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.

Knowledge Areas for Taxation Majors

Taxation majors often go into careers in which the following knowledge areas are important:

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  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • 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.
  • 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.
  • Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Skills for Taxation Majors

The following list of skills has been highlighted as some of the most essential for careers related to taxation:

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  • 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 Taxation Majors

Taxation majors often go into careers where the following abilities are vital:

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  • 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.
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.

What Can You Do With a Taxation Major?

Below is a list of occupations associated with taxation:

Job Title Job Growth Rate Median Salary
Accountants 10.0% $70,500
Auditors 10.0% $70,500
Financial Examiners 9.7% $80,180
Tax Preparers 10.7% $39,390

Who Is Getting a Bachelor’s Degree in Taxation?

5 Bachelor's Degrees Annually
60% Percent Women
0% Percent Racial-Ethnic Minorities
This is a less frequently chosen undergraduate major. Only 5 students graduated with a bachelor’s degree in taxation in 2019, making it rank #321 in popularity. This major is dominated by women with about 60% of recent graduates being female.

Racial-Ethnic Diversity

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

Racial-Ethnic Diversity of Taxation Students with Bachelor's Degrees
Race/Ethnicity Number of Grads
Asian 0
Black or African American 0
Hispanic or Latino 0
White 5
International Students 0
Other Races/Ethnicities 0

How Much Do Taxation Majors Make?

Salaries According to BLS

Average salaries range from $46,860 to $78,820 (25th to 75th percentile) for careers related to taxation. This range includes all degree levels, so you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.

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.

Median Salary for a Taxation Major  ( 46860 to 78820 )
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250K
Median Salary for a High School Graduate  ( 30000 to 57900 )
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250K
Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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250K
Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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250K

Some careers associated with taxation require an advanced degree while some may not even require a bachelor’s. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to taxation have obtained the following education levels.

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Education Level Percentage of Workers
High School Diploma - or the equivalent (for example, GED) 12.6%
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) 1.9%
Some College Courses 14.9%
Associate’s Degree (or other 2-year degree) 10.0%
Bachelor’s Degree 46.7%
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. 3.3%
Master’s Degree 11.1%
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. 0.1%

Online Taxation Programs

In the 2018-2019 academic year, 113 schools offered some type of taxation program. 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) 24 4
Certificate (1-2 years) 4 1
Certificate (2-4 Years) 0 0
Associate’s Degree 6 0
Bachelor’s Degree 18 3
Post-Baccalaureate 24 4
Master’s Degree 79 17
Post-Master’s 3 0
Doctor’s Degree (Research) 0 0
Doctor’s Degree (Professional Practice) 0 0
Doctor’s Degree (Other) 0 0

Is a Degree in Taxation Worth It?

The median salary for a taxation grad is $60,500 per year. This is based on the weighted average of the most common careers associated with the major.

This is 52% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $412,000 after 20 years!

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

Major Number of Grads
Business Administration & Management 410,147
Accounting 105,123
General Business/Commerce 58,451
Finance & Financial Management 56,186
Marketing 51,241
Human Resource Management 26,823
Management Sciences & Quantitative Methods 23,738
Business Support & Assistant Services 19,483
Hospitality Management 19,042
Management Information Systems 14,747
Entrepreneurial Studies 10,427
International Business 10,181
Business/Managerial Economics 6,345
Specialized Sales, Merchandising & Marketing 5,873
Other Business, Management & Marketing 5,834
General Sales & Marketing 5,734
Real Estate 5,700
Construction Management 3,664
Insurance 2,218
Business/Corporate Communications 968
Telecommunications Management 71

References

More about our data sources and methodologies.

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