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Accounting & Finance

933 Bachelor's Degrees Annually
779 Master's Degrees Annually
#39 in Popularity
$79,830 Median Salary

Types of Degrees Accounting & Finance Majors Are Getting

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

Education Level Number of Grads
Bachelor’s Degree 933
Master’s Degree 779
Basic Certificate 560
Associate’s Degree 79
Graduate Certificate 51
Undergraduate Certificate 49

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

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

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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.
  • 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

accounting and finance majors are found most commonly in careers in which the following skills are important:

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  • 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

Accounting and Finance 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.
  • 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?

933 Bachelor's Degrees Annually
41% Percent Women
22% Percent Racial-Ethnic Minorities*
This major attracts more men than women. About 59% of the graduates in this field are male.

Racial-Ethnic Diversity

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

Racial-Ethnic Diversity of Accounting and Finance Students with Bachelor's Degrees
Race/Ethnicity Number of Grads
Asian 70
Black or African American 53
Hispanic or Latino 52
White 571
International Students 116
Other Races/Ethnicities 71

Geographic Diversity

Students from other countries are interested in Accounting and Finance, too. About 12.4% of those with this major are international students.

How Much Do Accounting & Finance Majors Make?

Salaries According to BLS

Accounting and Finance majors often go into careers where salaries can range from $78,820 to $100,990 (25th to 75th percentile). 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 an Accounting & Finance Major  ( 78820 to 100990 )
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Median Salary for a High School Graduate  ( 30000 to 57900 )
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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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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.

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

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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 2018-2019 academic year, 134 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) 32 9
Certificate (1-2 years) 14 3
Certificate (2-4 Years) 0 0
Associate’s Degree 32 12
Bachelor’s Degree 36 18
Post-Baccalaureate 32 9
Master’s Degree 51 24
Post-Master’s 0 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!

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

Major Number of Grads
Accounting 79,652
Accounting Technology/Technician and Bookkeeping 20,239
Accounting and Business/Management 1,853
Other Accounting and Related Services 749
Auditing 179

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.

More about our data sources and methodologies.

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