Is An Accounting Degree Worth It? Here’s What You Should Know (2024)

Accounting can offer a clear and stable career path in a growing field. But is an accounting degree worth it? If you’re thinking about pursuing a degree in accounting, you should consider a few factors first, as you may invest a significant amount of time and money in your education.

This article overviews various accounting degree options and the potential benefits of earning a degree in accounting.

Available Accounting Degrees

Students can pursue accounting degrees at three levels: associate, bachelor’s and master’s. Each degree can serve as a stepping stone to furthering your education and career, preparing you for employment and expanding your job opportunities.

Associate in Accounting

An online accounting associate degree in accounting provides students with foundational knowledge in finance, economics and business concepts. This degree also builds career skills to qualify learners for various positions in the accounting field.

Depending on your school, you may be able to choose between Associate of Arts, Associate of Science, Associate of Applied Science and Associate of Applied Business degrees. Curriculums may vary depending on degree type.

In general, associate degrees of all types comprise general education and major-specific coursework and take around two years to complete. Some programs offer accelerated degrees, which can entail just one year of study.

Bachelor’s in Accounting

A bachelor’s in accounting involves general education, major-specific and elective coursework. There are three common bachelor’s degree options in accounting: Bachelor of Arts, Bachelor of Science and Bachelor of Business Administration. Your interests and long-term professional career goals can help determine which degree program is right for you.

Bachelor’s degree curriculums include a variety of course topics that prepare students to analyze financial issues and advise clients at every level of business. Typical course topics include:

• Auditing
• Business ethics
• Business law
• Business statistics
• Cost accounting
• Economics
• Financial accounting
• Managerial accounting
• Marketing
• Micro- and macroeconomics

Generally, bachelor’s degrees take four years of full-time study.

Master’s in Accounting

A master’s in accounting is a targeted graduate degree that provides an in-depth study of accounting. This advanced degree ultimately prepares students to take the Uniform Certified Public Accountant (CPA) Examination and for more advanced, specialized leadership positions.

Curriculums typically include courses on the following topics:

• Accounting theory and research
• Accounting ethics
• Managerial accounting
• International accounting
• Forensic accounting
• Taxation
• Fraud detection and prevention
• Advanced auditing

Accounting master’s curriculums help students develop advanced analytical and technical accounting skills and gain comprehensive knowledge of advanced practice areas in the field. Learners take one to two years to complete the degree. Some schools offer intensive programs, which you can complete in less than a year.

M.B.A. in Accounting

A Master of Business Administration (M.B.A.) in accounting is a graduate degree that focuses on business fundamentals, management skills and broad business applications across multiple industries. While many programs offer specialized tracks, including accounting, the core curriculum involves a broader scope of study.

M.B.A. programs in accounting typically include courses in:

• Business analytics
• Financial reporting
• Organizational leadership
• Information systems
• Supply chain logistics
• Risk management
• Strategic communications
• Marketing management

An M.B.A. program typically lasts two to three years.

Benefits of Working in Accounting

Working in accounting comes with several benefits. Below, we list some advantages of working in this field.

Increase Your Understanding of Finances

Accounting work provides opportunities to expand your knowledge and skills in various areas of finance, including microeconomics, macroeconomics, management, banking and finance, tax and business law and general business practices. These desirable skills can transfer to numerous professions across nearly every industry.

Choose a Specialization

Working in accounting allows you to specialize in a particular area in the field and pursue employment that align with your interests. Some specializations include taxes, bookkeeping, consulting, payroll services, forensic accounting and auditing.

These professionals may also specialize in a specific field or industry, such as finance, management, government, insurance and manufacturing.

Increase Your Job Opportunities

The U.S. Bureau of Labor Statistics (BLS) projects employment for accountants and auditors to grow by 4% from 2022 to 2032. Most accountants are required to have bachelor’s degrees, and CPAs typically have at least a master’s. For more details, check out our guide on how to become a CPA.

Get a Chance to Work in Different Industries

Though accounting is a specialized business degree, it equips students with skills that can apply in various areas of business and across several industries. Accounting graduates can transfer their skills to a variety of career paths.

After earning an accounting degree, you can explore roles and careers in other fields, such as academia and the industrial sector.

Advance Your Career

There is plenty of opportunity for job advancement in accounting. A combination of solid accounting skills, hands-on work experience, professional education and certifications can help expand your job prospects and increase your earning potential. As you gain experience, you can eventually qualify for specialized roles such as budget analyst, financial analyst and chief financial officer.

Pursue Entrepreneurship

An accounting degree lays the foundation for many careers in business, including entrepreneurial ones. Once you gain experience and establish business contacts, you may consider starting your own business. Whether in tax accounting or consulting, you can pursue several avenues with an accounting background.

How To Decide if an Accounting Degree is Right for You

If you’re thinking about pursuing an accounting degree, you might consider the questions below. These are just a few factors to keep in mind before choosing an accounting program. If you’re unsure whether an accounting degree is right for you, you might enroll in a few classes to determine whether its topics align with your interests and career goals.

Have You Taken Accounting and Finance Courses and Enjoyed Them?

An accounting degree may suit you if you’ve taken accounting and finance classes and enjoyed the topics and coursework. These courses give you insight into the concepts, practices and job responsibilities you can expect to engage in throughout your career.

Do You Like Working With Data and Numbers?

Accountants’ job responsibilities largely revolve around numbers, analysis and other data-heavy tasks. Sharp analytical skills provide a strong foundation for an accounting career, allowing professionals to analyze and interpret data accurately and extract valuable insight for strategic business decisions and actions.

Are You Detail-Oriented?

Accounting job duties require meticulous attention to detail, which enables these professionals to manage critical financial documents. Collecting and entering data into balance sheets, income statements and cash flow reports are just a few accounting job responsibilities that demand acute attention to detail.