Accounting & Finance Majors.......Current or Graduated Welcome

709
10
Joined Jan 4, 2011
I saw the Engineering thread and was curious who on here is or was an Accounting or Finance major?
If so, what would you recommend to those of us still in our undergraduate programs? What are the pros and cons of your career? To those in undergrad still, what classes are you currently taking and are there any sites you visit that you wouldn't mind sharing?

Thanks.
 
709
10
Joined Jan 4, 2011
Originally Posted by adiosburritos

get a engineering degree instead
I'll pass. Thanks though. More opportunities to make money in Finance....in my opinion. Starting salary may be better for more engineering degrees, but more versatility in Accounting/Finance.
If I would have said Marketing or Management, you would of had me.
 
312
10
Joined Sep 28, 2009
Junior year at VCU checking in. Finance major. The versatility is one of the best things about the major.
 
35
10
Joined Jul 11, 2011
I have a Bachelor's in Accounting.  It's a safe degree-there always seems to be a demand for Accountants.  Your best bet in regards to salary is to become a CPA.  It doesn't require a Masters in Accounting but you do have to do additional credits after your Bachelor's so a lot of people just go for the Masters.

I also highly recommend a Bachelor's in Accounting vs. one in Finance. The reason being if you have a Bachelor's in Accounting, you can Master in Accounting or Finance.  If you have the Finance degree you are not able to Master in Accounting.  I have a friend with a Bachelor's in Finance who is unable to find a job related to Finance or Accounting.  She is working a job that basically anyone out of high school can get.  She now has gone back to school to take some Accounting courses. Obviously that isn't the case for everyone, but it seems easier to find jobs when your B.S. is in Accounting.
 
69
10
Joined May 12, 2003
I'm getting my masters in accounting at TCU. To those majoring in finance, I'd recommend going ahead and double majoring in accounting. That will give you the required credit hours to sit for the CPA exam. You could also study for the CFA exam. It is much easier to get a job in Big 4 accounting than it is to get a job in finance that will look as solid on your resume. Having a CPA and a CFA would set you apart and help get into the financial side of things if that is what you want. If you want to get into industry passing the CMA exam wouldn't hurt but the CPA is more highly regarded.
 

Swolemeats

formerly 40inchboost
3,939
1,344
Joined Jul 16, 2009
Get in with the Big 4 if your really about getting that $$ in the long run.

Go to all recruiting events and make yourself seem like a person people would want to work with, introduce yoursefl to as many employees as possible. We all grade/rate potential hires/interns at these events so be sure to be yourself.

Get your resume proper and interview skills on point.

Finance and Accounting major here going into 5th and final year of school. Interned at a big 4 over the summer, killed it, and got a job offer to start full time next fall.

No salary ceiling with this degree combo, get your CPA asap, work at a big 4, GRIND for 5+ years (may be tough in the moment, but worth it in the long run.

Look at most CEO/CFO's in the Fortune 500 compnaies and u'll see they usually have actg/finance backgrounds and big 4 expierence.

GOOD LUCK !
 
709
10
Joined Jan 4, 2011
Originally Posted by 40inchBoost

Get in with the Big 4 if your really about getting that $$ in the long run.

Go to all recruiting events and make yourself seem like a person people would want to work with, introduce yoursefl to as many employees as possible. We all grade/rate potential hires/interns at these events so be sure to be yourself.

Get your resume proper and interview skills on point.

Finance and Accounting major here going into 5th and final year of school. Interned at a big 4 over the summer, killed it, and got a job offer to start full time next fall.

No salary ceiling with this degree combo, get your CPA asap, work at a big 4, GRIND for 5+ years (may be tough in the moment, but worth it in the long run.

Look at most CEO/CFO's in the Fortune 500 compnaies and u'll see they usually have actg/finance backgrounds and big 4 expierence.

GOOD LUCK !
 
86,361
25,674
Joined May 31, 2004
finance and accounting double major FTW!!!


public accounting for 4-5 years, then move to industry and clean up
 

Swolemeats

formerly 40inchboost
3,939
1,344
Joined Jul 16, 2009
Originally Posted by wcarson89

I'm getting my masters in accounting at TCU. To those majoring in finance, I'd recommend going ahead and double majoring in accounting. That will give you the required credit hours to sit for the CPA exam. You could also study for the CFA exam. It is much easier to get a job in Big 4 accounting than it is to get a job in finance that will look as solid on your resume. Having a CPA and a CFA would set you apart and help get into the financial side of things if that is what you want. If you want to get into industry passing the CMA exam wouldn't hurt but the CPA is more highly regarded.
Why do you feel masters in accounting is better than finance? If you can get your CPA then what will that masters do for you? Finance degree provides you with a background of financial knowledge that could be crucial if you want to be a CFO/CEO, while getting the required credits.

I've heard of getting a masters in Tax would be beneficial, but for audit not so much. And this is what I've heard from multiple partners/senior managers at the Big 4 I worked for.
 
742
10
Joined Nov 18, 2004
My recommendation: pursue something you will love to do. Perhaps the most valuable lesson ive learned from finance (which is typically overlooked by those in finance) is that time has tremendous value - much more than money ever would. Time is a very scarce resource. Allocate it properly.
 
69
10
Joined May 12, 2003
Originally Posted by 40inchBoost

Originally Posted by wcarson89

I'm getting my masters in accounting at TCU. To those majoring in finance, I'd recommend going ahead and double majoring in accounting. That will give you the required credit hours to sit for the CPA exam. You could also study for the CFA exam. It is much easier to get a job in Big 4 accounting than it is to get a job in finance that will look as solid on your resume. Having a CPA and a CFA would set you apart and help get into the financial side of things if that is what you want. If you want to get into industry passing the CMA exam wouldn't hurt but the CPA is more highly regarded.
Why do you feel masters in accounting is better than finance? If you can get your CPA then what will that masters do for you? Finance degree provides you with a background of financial knowledge that could be crucial if you want to be a CFO/CEO, while getting the required credits.

I've heard of getting a masters in Tax would be beneficial, but for audit not so much. And this is what I've heard from multiple partners/senior managers at the Big 4 I worked for.
I interned in Big-4 tax this summer, not trying to hate, I'm sure you did a good job but pretty much everyone gets a full-time offer unless they screw up horribly. Getting the internship is much, much harder than getting the offer. The amount of money they drop on you during your internship is insane. The internship is more recruiting honestly. I learned a lot and it helped me realize tax isn't what I really want to do so I'm appreciative of that.
In my original post I recommended getting a double major. I am doing a master's program instead because I was sick of undergrad. There are benefits to having the finance degree but a good grad program will make sure you understand how financial statements are prepared, audited, and then used by outsiders. 

Statistically speaking, a masters in taxation can be extremely valuable. There are roughly ten times as many people going into the work force with masters in accountancy versus those with masters in taxation. Most big-4 tax departments don't care which you get, they just care that you are a CPA. It will however be helpful in the long run because of the strong tax background you will obtain being in an M-Tax program. 

I was originally planning on attending Ole Miss for their M-tax program but like I said, tax isn't for me.
 
9,455
10
Joined Sep 1, 2009
I got a Communications undergrad, but right now im in grad school to get my MBA and deciding between Finance and Accounting. More likely I'll do Accounting, but I don't have much experience as far as work goes. Can I still pursue it?
 
333
10
Joined Jul 7, 2009
I work for a CPA firm. I don't like my job. Useless review notes. Ridiculous hours and to top it off, stingy partners. Wow.
 
585
505
Joined Nov 1, 2003
I highly recommend majoring in accounting. I currently work for PwC in the Risk Assurance group. We get paid well have good incentives and very hard to get laid off. I can help out any other members. Any questions regarding school or work let me know and I can assist.
 
1,815
35
Joined Nov 23, 2003
Originally Posted by NiceSteez

I have a Bachelor's in Accounting.  It's a safe degree-there always seems to be a demand for Accountants.  Your best bet in regards to salary is to become a CPA.  It doesn't require a Masters in Accounting but you do have to do additional credits after your Bachelor's so a lot of people just go for the Masters.

I also highly recommend a Bachelor's in Accounting vs. one in Finance. The reason being if you have a Bachelor's in Accounting, you can Master in Accounting or Finance.  If you have the Finance degree you are not able to Master in Accounting.  I have a friend with a Bachelor's in Finance who is unable to find a job related to Finance or Accounting.  She is working a job that basically anyone out of high school can get.  She now has gone back to school to take some Accounting courses. Obviously that isn't the case for everyone, but it seems easier to find jobs when your B.S. is in Accounting.

What about UCSB's Economics/Accounting major?
 
7,001
12
Joined Aug 24, 2009
I'm interested in studying economics/finance in college. Definitely keeping up with this thread 
 
1,592
40
Joined Jun 17, 2008
I'm majoring in business administration with a concentration in accounting and graduating in Spring 2012.
Taking some core business classes and an auditing class in the fall.
 
11,744
559
Joined Feb 12, 2003
I'm a CPA, currently at a big nationwide/regional firm specializing in financial services. I came from a firm with a real estate presence but ultimately grew tired of it.

I can't see myself in anything but Public in terms of accounting related work. The thought of private industry in anything short of a Controller, CFO/CEO just would bore me to no end. DeadsetAce is now a Corp Suit whom I've lost respect for (jk).

Don't think of Accounting/Finance as a ticket to earnings, because if you're chasing the almighty dollar there's a real solid chance you'll grow tired of it and hate yourself while contemplating how much time you wasted.

Big 4s are over rated. Yeah, I get it, you have opportunities, blah blah blah. Realistically, it goes something like this. You pick audit/tax right off the bat, your client base initially is based on availability, if you work on a big client odds are you work on one AREA of a client (i.e - cash recs, accounts payable, etc) versus the entire set of accounts, you're at the mercy of everyone above you. The payoff is great if you're one of the better ones who can tollerate it while working on a client/industry you actually enjoy.

A better idea is, find a accounting firm who works/specializes in something that interets you. You'll instantly be more happy and work better. Then when you divide your salary by huors worked it won't feel as bad.

Though, I do know out of college you're not sure what "industry" you'd like, you can still have a gut feeling and look into it. I made the most out of career center and applied/interviewed at every firm I could just so I could do proper analysis.

Get your CPA as soon as you qualifiy to sit. It's truly a pain to deal with when you move into a stead job.
 
1,842
19
Joined Apr 17, 2008
My cousin has a BACHELOR'S degree in finance from NYU Stern and is clearing 250 a year. I was in shock when he started bringing in that kind of money at 23 years old without even having an MBA
 
30
10
Joined Aug 7, 2005
dont do it.  unless you love money and dont mind spending 14 hour days at work and having no friends...seriously!

been in big 4 for 3 years and everyday i regret my decision.  I'm a senior and rated highly.  Just not for me.
 
Top Bottom