Why an Accounting Degree Could Be for You – Even if You Don't Want to Be an Accountant

What You Can Do with an Accounting Degree Besides Accounting?

What can I do with an accounting degree besides accounting? Thousands of hopeful college students have posed this question, and at Champlain College Online, we have the answer. When you earn your bachelor's degree in accounting at CCO, many career paths may become available, and previously closed doors may open. While you may choose a more traditional career path that leads to a job as a CPA, you're in no way limited to this decision. Other rewarding and enjoyable jobs may be on your horizon, too, including auditor, financial analyst, forensic accountant, and budget analyst.

The good news is the work you complete as you work toward your degree will equip you with valuable skills necessary for many jobs. For example, you'll polish your critical thinking, problem-solving, bookkeeping, and taxation skills. You'll learn how to generate and read financial statements and records, and you may or may not decide to pursue certification upon graduation.

With a four-year degree in accounting, you'll be a valuable asset to many industries. You only have to choose a field that most closely aligns with your interests and goals.

Common Career Paths for Accounting Degree Grads

Usually, students pursuing degrees in accounting assume they'll work as accountants after graduation – and many do. However, nearly every industry needs accounting services, meaning these jobs can vary significantly in scope and design. While all require basic accounting skills and knowledge, there are a variety of jobs you might decide to pursue after earning your bachelor's degree in accounting.

Some of the most common career paths for graduates who've studied accounting include:

• Certified Public Accountant (CPA)
• Tax preparation
• Financial planning
• Internal auditing
• Forensic accounting

A four-year degree in accounting will prepare you for success in any of these fields because it gives you the knowledge and experience you'll need. As a recent college graduate, finding an entry-level position in an accounting-related field will be much easier with the help of your degree.

Transferable Skills From an Accounting Degree

As you complete your coursework and earn your accounting degree, you'll develop various beneficial skills, regardless of which type of career you choose. These include skills in:

• Problem-solving
• Organization
• Communication
• Collaboration
• Critical thinking
• Business ethics

Whether you work for a global accounting firm or the local flower shop on the corner, these skills will seamlessly transfer and make your daily routine more satisfying and successful.

As you earn your online accounting degree at CCO, you'll complete courses such as Accounting Information Systems, Federal Taxes I and II, Principles of Finance, and Business Law. It's easy to see how this knowledge and experience can benefit you in an accounting position and beyond.

Alternative Career Paths for Accounting Graduates

What jobs can you get with an accounting degree? Often, when people hear the term "accounting degree," they instantly think of tax preparation. While this is one area where your skills and training in accounting will be advantageous, it's not the only option. Graduates with solid accounting skills and knowledge are great candidates for local, national, or international jobs. 

Some of the more unique career paths graduates have carved out include fraud investigator, international accountant, and business analyst. Having a strong foundation in mathematics is essential in these roles. Earning a bachelor's degree in accounting can build those skills. There are many more areas for which this type of degree can prepare you. They include:

Corporate Finance

A corporate finance manager usually answers to one of the company's top employees, such as the chief financial officer. Their primary responsibilities include developing a company's short- and long-term financial plans, managing its investments, and buying and selling securities. In this role, you'll gain experience in budget preparation, financial forecasting, and securities marketing.

Business Operations

Business operations describe everything that helps a company generate more revenue. It refers to the streamlining of processes, improvements in productivity, the reduction of costs, and much more. If you work in business operations, you'll play an integral role in helping a company become and remain profitable and successful.

Every industry, from retail to science, needs a strong operations team. A degree in accounting may put you in an ideal position to work in this dynamic and exciting field.

Entrepreneurship

If you dream of becoming an entrepreneur and owning your own business, the skills you'll acquire on your path to accounting will serve you well. You'll develop a keen knack for budgeting and forecasting and gain a complete understanding of the financial requirements of running a small, medium, or large business. You'll have the knowledge and ability to be hands-on with your company's numbers, even if you hire an outside accountant.

Government and Law

If you work for the government or in law enforcement, you'll have the opportunity to put your accounting skills to use. These individuals help keep track of public funds, investigate finance-related crimes, and even conduct research that helps identify spending trends. You may work as a fraud examiner for the Federal Bureau of Investigation, the U.S. Department of the Treasury, or the Internal Revenue Service. Each could be an exciting, lucrative career that combines math with problem-solving.

Technology

Accounting graduates with strong backgrounds in information technology may enjoy working in accounting information systems, or AIS. In these roles, you may work for major corporations, insurance companies, or public accounting firms, where you may help choose or design accounting software or perform system audits.

Teaching

With your bachelor's degree in accounting, teaching is a great field to pursue. You could find yourself at the local high school, trade, or technical school. The role of a teacher will always be in demand. Business teachers cover accounting, finance, labor relations, marketing, and operations. They impart their knowledge to students who wish to pursue higher education and careers in business-related fields.

Consulting and Freelancing

Of course, you can always decide to go into consulting or work as a freelancer. Much like owning your own business, freelance consultants set their hours and rates of pay. They often work as independent contractors for one or more companies and enjoy more freedom than traditional employees.

Salary Expectations for Accounting Degree Grads

How much money can you expect to earn in the field of accounting? Much depends on the industry in which you work and the role you play. For example, according to the Bureau of Labor Statistics, accountants and auditors with bachelor's degrees earned a median annual salary of $77,250 in 2021. Finance managers earned $131,710, and operations research analysts earned $85,720 as of May 2022.

Though each statistic varies, it's clear that a bachelor's degree in accounting is a valuable asset that can help you earn a comfortable living and enjoy a rewarding career.

Job Outlook and Growth Potential Across Industries

U.S. News & World Report states the demand for accountants is expected to grow by roughly 5.6 percent through 2031, which translates into the addition of more than 81,000 jobs. Jobs for fraud examiners, investors, and analysts are expected to grow slowly, at 1.31 percent through 2029. Still, this will add an estimated 54,350 jobs. Postsecondary business teachers can expect a boost of about 1.05 percent annually through 2029, translating to an additional 37,890 new jobs over the next few years.

 

Your bachelor's degree in accounting is a valuable investment for which you'll likely see a desirable return throughout your lifetime. It may result in better pay, more responsibility, better job security, and valuable benefits, including medical coverage, paid time off, and more. A four-year degree may also help you skip entry-level positions and land a mid-level accounting or related field job.

Job Search Strategies for Accounting Majors

Once you've earned your degree, or even before you've graduated, you'll want to begin searching for the ideal position. Two strategies can help you on your way:

Building Your Network

Building a network begins at school. Getting to know members of your cohort and professors, attending alum events, and joining industry-related clubs and organizations geared toward accounting will help you get to know the right people. You should also tap into the resources of your local community, including local business owners and industry professionals. Getting yourself out there and building a reputation is the best way to build a network that's mutually beneficial to everyone involved. When it comes time to search for work, you'll have a generous pool of resources to draw upon.

Adjusting Your Resume

Next, you'll want to polish your resume. You can showcase your degree front and center and then fill in around it by listing any volunteer work, extra credit work you've completed, or internships you served while earning your degree. List them on your resume if you've won academic awards or served on important committees. The more impressive your experience appears on paper, the more likely your resume will reach the top of the applicants' pile.

Tips for Transitioning Into a New Career Field

What can you do with an accounting degree? You can become a financial analyst, a forensic accountant, or a certified public accountant. You may even decide to change the trajectory of your career path at mid-level and decide to go into auditing or become a budget analyst. You may leave the accounting field altogether and use your transferable skills to succeed in a related industry, such as financial advising or investment banking.

 

Whatever career path you decide to pursue should be one with which you're familiar and have experience. Transitioning into a new career path may mean taking additional classes or gaining experience outside of work to set yourself up for success. Spending time with other professionals in the field will also be helpful. Networking is one of the most effective job-search strategies available, especially for those attempting to change jobs mid-career.

Learn Accounting from Champlain College Online

If you're ready to explore the fascinating world of accounting, we invite you to explore the online bachelor's degree in accounting offered by Champlain College Online. Our brick-and-mortar campus in Burlington, Vermont, has been educating students since 1878, and we've been leading the way in online education for the past 30 years, catering to traditional and nontraditional students alike.

 

If you're a modern learner ready to pursue a career in accounting, an online degree could be for you. Besides being highly affordable, online classes offer more flexibility and the chance to work around life and family responsibilities. They eliminate the need for lengthy commutes and room and board costs. If you're interested in learning more, our friendly and experienced staff and faculty are ready to answer any questions. Contact Champlain College Online today to learn more about earning your associate's or bachelor's degree in accounting.