Why Choose Accounting? 5 Rock-Solid Reasons to Major in Accounting

Why Choose Accounting? 5 Rock-Solid Reasons to Major in Accounting

Do you like working with numbers? Is your brain always spinning data into action? Do you enjoy the idea of helping a business get its finances in order? If you’re nodding your head to each of these questions, there’s a good chance the accounting field could be the place for you.

That said, meeting the criteria above doesn’t make this your only career path worth considering. There are several different types of business degrees worth exploring as you ponder your next step—so why should you focus on accounting? To help answer that, we’ve asked several business professionals to share their take on what makes pursuing an accounting degree a smart choice.

Why pursue accounting?

Need some solid reasons for pursuing this career path? Take it from some of the professionals who’d know best.

1. Accounting professionals are consistently needed across industries

Every business requires assistance with financial operations, and that’s great for accounting professionals. Whether handling payroll and taxes, preparing budgets, ensuring the organization complies with all federal, state and local regulations, or advising leadership on reducing costs and risks to increase profits, accountants are crucial players in all organizations.

“Good accountants are never out of work,” says Shawn Plummer, CEO of The Annuity Expert. “You can work in virtually any business or institution as an accountant.”

Jason Cherubini, a CPA and CFO of Dawn’s Light Media, agrees.Accounting is a great career that offers financial security and stability greater than most other fields. And if that wasn’t enough, it is a solid base for almost any other industry that a student may want to enter into.”

2. Strong earning potential

According to the Bureau of Labor Statistics (BLS), the 2021 median annual wage for accountants and auditors was $77,250.1 This figure is substantially higher than the $45,760 national average for all occupations in 2021.1 The work accountants provide to organizations requires specialized training and education, which means meriting higher pay.

“The majority of [accounting] positions necessitate higher degrees and certifications,” says Matthew Dailly, managing director at Tiger Financial. “Companies recognize that greater pay is required for those qualifications, and they are prepared to provide them.”

Plummer agrees, saying that while accountants often have a lower profile, their salaries make up for it.

“They’re behind the scenes for the most part, so they don’t get a lot of glory,” Plummer says. “But what they do get is paid, and very well. The closer you work to money, the more of it you make, and accountants are about as close as anyone.”

That axiom certainly holds true for accounting professionals able to climb the career ladder into management. The BLS reports the 2021 median annual salary for financial managers was $131,710.1 While obviously not every accounting professional is going to be able to climb into upper-level management, education can provide a common pathway to making it happen.

3. Accountants are valued experts

Without a clear understanding of the financial picture, a company cannot survive. Successful accountants give leadership and other stakeholders a clear narrative of what an organization is capable of doing in terms of growth, innovation and profit.

“You will frequently interact with other teams who have a limited grasp on what accountants perform,” says Dailly. “You will be expected to provide expert advice on a variety of issues that affect a company.”

While many in an organization may not have the analytical, number-crunching mindset of an accountant, the job itself is one that maintains its status and importance.

“It’s a field where you’ll find people working at the same company for their entire lives,” says Plummer. “They enjoy the work, they’re respected and well-paid.”

4. Change makes the role more interesting than you might expect

One stereotype about accounting is that it’s dull work with no variety. But given the steady stream of changes to tax laws, the complexity of the global economy and new innovations like cryptocurrency, accountants must always keep learning and updating their skills as they advance in their careers.

“The pace of change in accounting is surprising,” says Plummer. “While many fundamental principles are timeless, factors like digital currency and new accounting regulations keep the field constantly changing.”

The idea that an accountant’s work is uninteresting may be based on the assumption that they’re just tabulating expenses and income all day, but there’s a lot more to it than that. Cherubini says that while math skills are important, they don’t represent accounting work as a whole.

“Students often incorrectly think of accounting as a math discipline, but this isn’t really true,” says Cherubini. “We use basic math, but the roots of accounting are not in math. Accounting is more of a logical toolset akin to law.”

Often, the work is more similar to solving business problems, which can take many forms, and the process of figuring it all out can add to the intrigue.

5. Accountants have room to grow and advance

Every industry hires accountants, but there are many areas of the field to pursue over the career lifespan.

The BLS notes several different areas of accounting, in both the private and public sectors. Accountants can work independently, providing service to clients, or for companies and government entities.

What makes accounting such a vital field is the global economy itself. International mergers and trade involve extremely complicated financial processes, all of which come with their own intricate regulations and tax issues to resolve. Software and automation may make some of the more menial traditional accounting tasks less common, but often this puts accountants into a financial advisory role in their organizations.

“Even with advances in artificial intelligence and automation, businesses still require accountants to grasp complicated tax rules and regulations that are always changing,” Dailly says. “Accountants also assist businesses in managing and decoding financial data so that they make business decisions.”

A critically important business role

Accountants are creative and analytical members employed by every kind of organization. Think you’ve got what it takes to work in the field of accounting? Review the data for yourself by learning more about the Accounting degree program at Rasmussen University.

1Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, [accessed May 2022], www.bls.gov/ooh/. Salary data represents national, averaged earnings for the occupations listed and includes workers at all levels of education and experience. This data does not represent starting salaries. Employment conditions in your area may vary.

About the author

Carrie Mesrobian

Carrie is a freelance copywriter at Collegis Education. She researches and writes articles, on behalf of Rasmussen University, to help empower students to achieve their career dreams through higher education.


Related Content

Related Content

This piece of ad content was created by Rasmussen University to support its educational programs. Rasmussen University may not prepare students for all positions featured within this content. Please visit www.rasmussen.edu/degrees for a list of programs offered. External links provided on rasmussen.edu are for reference only. Rasmussen University does not guarantee, approve, control, or specifically endorse the information or products available on websites linked to, and is not endorsed by website owners, authors and/or organizations referenced. Rasmussen University is accredited by the Higher Learning Commission, an institutional accreditation agency recognized by the U.S. Department of Education.

logo-accreditation-acen logo-accreditation-ccne chart-credential-laddering-associates-bachelors-masters 0 Credits90 Credits180 Credits48 CreditsStart HereHIGH SCHOOL GRADSStart HereTRANSFER STUDENTSStart HereSECOND DEGREE PURSUERSEnd HereASSOCIATE'S DEGREEStart HereMASTER'S DEGREEPURSUERSEnd HereBACHELOR'S DEGREEEnd HereMASTER'S DEGREE chart-credential-laddering-associates-bachelors 0 CreditsStart HereHIGH SCHOOL GRADSStart HereTRANSFER STUDENTS90 CreditsStart HereSECOND DEGREE PURSUERSEnd HereASSOCIATE'S DEGREE180 CreditsEnd HereBACHELOR'S DEGREE chart-credential-laddering-msn chart-credential-laddering-nursing-programs chart-credential-laddering-nursing DNPMSNRN to BSNLPN to RN BridgeAccelerated BSNProfessional Nursing ADNPractical Nursing DiplomaPre-LicensurePost-Licensure icon-colored-outline-bank icon-colored-outline-certificate icon-colored-outline-circle-dollar-sign icon-colored-outline-folder-search icon-colored-outline-hand-heart icon-colored-outline-head-blocks icon-colored-outline-head-cog icon-colored-outline-head-heart icon-colored-outline-health-plus-leaves icon-colored-outline-hospital icon-colored-outline-lifelong-learning icon-colored-outline-light-bulb-analytics icon-colored-outline-location-pin icon-colored-outline-maginify-glass icon-colored-outline-magnifying-glass icon-colored-outline-monitor-healthcare icon-colored-outline-monitor-paper-search icon-colored-outline-nurse-rays icon-colored-outline-padlock-shield icon-colored-outline-person-presenter-screen icon-colored-outline-scales icon-colored-advance icon-colored-arrows-cross-curve icon-colored-briefcase-star icon-colored-build icon-colored-bulb-analytics icon-colored-certificate icon-colored-continual-development icon-colored-duo-chatbox icon-colored-folder-mortarboard icon-colored-forward-ribbon icon-colored-gears-clock icon-colored-globe-pen icon-colored-growth icon-colored-hand-bubble icon-colored-hand-stars icon-colored-hands-gear icon-colored-head-blocks icon-colored-head-cog icon-colored-health-plus-leaves icon-colored-hospital-building icon-colored-laptop-cbe-skyscraper icon-colored-laptop-checkmark icon-colored-laptop-webpage icon-colored-location-map icon-colored-location-pin icon-colored-monitor-paper-scan icon-colored-mortarboard-dollar icon-colored-national icon-colored-people-chat-bubbles icon-colored-person-cheer-star icon-colored-person-laptop-checkboxes icon-colored-person-screen-instructor icon-colored-person-whiteboard icon-colored-phone-chatbox icon-colored-police-light icon-colored-prep icon-colored-presenter icon-colored-regional icon-colored-save-time icon-colored-shirt-hat icon-colored-skyscraper icon-colored-state icon-colored-student-centered icon-colored-support icon-colored-world-experience icon-triangle-arrow-up-plant icon-triangle-calendar-pencil icon-triangle-clock-rotating-arrows icon-triangle-display-gears icon-triangle-hand-right-speech-bubble icon-triangle-laptop-coding-brackets icon-triangle-mortarboard icon-triangle-paper-ribbon icon-triangle-person-cheer-star icon-triangle-person-juggle icon-triangle-triple-people-chat-bubble ras-logo-flame ras-logo-horizontal ras-logo-stacked icon-modality-campus icon-modality-field icon-modality-online icon-modality-residential icon-social-facebook-square-colored icon-social-facebook-square icon-social-facebook icon-social-google-plus-square icon-social-google-plus icon-social-instagram icon-social-linkedin-square-colored icon-social-linkedin-square icon-social-linkedin icon-social-pinterest-p icon-social-twitter-square icon-social-twitter icon-social-youtube-play-colored icon-social-youtube-play icon-arrow icon-bank icon-camera icon-filter icon-general-chart icon-general-connect icon-general-degree icon-general-discuss icon-general-email icon-general-find icon-general-hat icon-general-heart icon-general-laptop-building icon-general-laptop icon-general-leader icon-general-map icon-general-money icon-general-paperwork icon-general-people icon-general-phone icon-general-speak-out icon-head-heart icon-info-circle icon-mail-forward icon-mglass icon-play-solid icon-quote-mark-left icon-quote-mark-right icon-scales icon-share-square-o icon-simple-chat icon-simple-desktop icon-simple-find icon-simple-hamburger icon-simple-phone icon-spinner icon-tag icon-testimonial-quotes icon-util-checkbox-white icon-util-checkbox icon-util-checked-white icon-util-checked icon-util-chevron-down icon-util-chevron-left icon-util-chevron-right icon-util-chevron-up icon-util-circle-arrow-down icon-util-circle-dot icon-util-language-switch icon-util-loading icon-util-open-window-button icon-util-open-window-link icon-util-pdf-button icon-util-pdf-link icon-util-refresh icon-util-x rebrand-arrows