Accounting & Finance

Types of Degrees Accounting & Finance Majors Are Getting

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

Education Level	Number of Grads
Basic Certificate	1,540
Bachelor’s Degree	842
Master’s Degree	696
Associate Degree	353
Undergraduate Certificate	143
Graduate Certificate	74

What Accounting & Finance Majors Need to Know

In an O*NET survey, accounting and finance 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 Accounting and Finance Majors

Accounting and Finance majors often go into careers in which the following knowledge areas are important:

• Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
• Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Skills for Accounting and Finance Majors

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

• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• 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.
• Speaking - Talking to others to convey information effectively.
• Mathematics - Using mathematics to solve problems.

Abilities for Accounting and Finance Majors

As a accounting and finance major, you will find yourself needing the following abilities:

• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• 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.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.

What Can You Do With a Accounting & Finance Major?

Below is a list of occupations associated with accounting and finance:

Job Title	Job Growth Rate	Median Salary
Accountants	10.0%	$70,500
Auditors	10.0%	$70,500
Budget Analysts	6.5%	$76,220
Financial Analysts	10.8%	$85,660
Financial Managers, Branch or Department	18.7%	$127,990
Treasurers and Controllers	18.7%	$127,990

Who Is Getting a Bachelor’s Degree in Accounting & Finance?

This major tends to be male dominated. About 60% of recent graduates are men.

Racial-Ethnic Diversity

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

Race/Ethnicity	Number of Grads
Asian	77
Black or African American	48
Hispanic or Latino	75
White	498
International Students	97
Other Races/Ethnicities	47

Geographic Diversity

Accounting and Finance appeals to people across the globe. About 11.5% of those with this major are international students.

How Much Do Accounting & Finance Majors Make?

Salaries According to BLS

Average salaries range from $78,820 to $100,990 (25th to 75th percentile) for careers related to accounting and finance. 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.

Amount of Education Required for Careers Related to Accounting & Finance

Some careers associated with accounting and finance 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 accounting and finance have obtained the following education levels.

Education Level	Percentage of Workers
High School Diploma - or the equivalent (for example, GED)	4.8%
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)	0.3%
Some College Courses	11.3%
Associate’s Degree (or other 2-year degree)	6.3%
Bachelor’s Degree	49.7%
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.	6.0%
Master’s Degree	21.1%
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.	0.5%
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.	0.1%

Online Accounting & Finance Programs

In the 2020-2021 academic year, 156 schools offered some type of accounting and finance 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)	0	0
Certificate (1-2 years)	29	13
Certificate (2-4 Years)	0	0
Associate’s Degree	49	22
Bachelor’s Degree	39	23
Post-Baccalaureate	0	0
Master’s Degree	54	25
Post-Master’s	1	0
Doctor’s Degree (Research)	0	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Is a Degree in Accounting & Finance Worth It?

The median salary for a accounting and finance grad is $79,830 per year. This is based on the weighted average of the most common careers associated with the major.

This is 100% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $798,600 after 20 years!

Majors Related to Accounting & Finance

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

Major	Number of Grads
Accounting	73,172
Accounting Technology/Technician and Bookkeeping	19,817
Accounting and Business/Management	1,637
Other Accounting and Related Services	814
Auditing	177

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.