Why Should You be an Accounting Major?

By: Michael

It seems like lately I’ve been meeting a lot of students who are either an undecided major, switched majors, or are considering adding a new major/minor. It might seem tough to decide what you want to study and what kind of career you want to start working towards, but I’m going to try and make it easier for you by outlining some steps you can take to match your strengths to a major or career and maybe convince you to become an accounting major at the same time.

Acct major

 To start, I’ll outline what my StrengthsQuest results are:

  • Significance
  • Futuristic
  • Analytical
  • Restorative
  • Focus

Also, my Myers-Briggs results:

  • Extrovert
  • Sensor
  • Thinker
  • Judger

Side note, if you haven’t done any personality or career assessments such as the ones I’m discussing, be sure to stop into Career and Internship Services and inquire about one, they can be incredibly helpful.

So, even though I had decided on my major prior to taking these assessments, it was nice to be reassured that I am making a good fit as many other people with these personality types/traits go into the same field.

I’m aspiring to become a public accountant and anyone who knows the field understands that you need the standard analytical skills required for accounting in general but also the ability to work well with others, whether it be clients or coworkers, it is definitely not a cubicle job like many perceive the accounting field to be.

Here are a list of my top 5 reasons why I think you should look into becoming an accounting major:

1. The math isn’t that hard

Many people have the false assumption that accounting majors have to know a lot of math. In fact, the only requirement you have for math is an introductory level of calculus (which you never even use). A basic understanding of algebra is all you will really need.

2. There are many different fields you could go into

With an accounting degree you could go into all kinds of different fields including retail or investment banking, public accounting (tax or audit), private accounting (financial or managerial), etc.

3. You learn about more than just accounting

If you are interested in also learning about the law or how businesses work in the United States, Accounting provides the knowledge about these and much more, including a basic understanding of economics and finance.

4. The job prospect is very high

By deciding to go into accounting, some statistics show a 93% job placement rate after obtaining a degree. While many graduates may be going into different areas of work, employers are actively seeking accounting majors for the communication and analytical skills. Many employers that I’ve spoken to over the past year attribute the job growth rate to two major factors:

  • A growing industry (thank you capitalism!)
  • An upcoming turn-over as the baby boom generation begins to retire

5. You will get paid well

According to our Graduate Follow-up Report, accounting majors receive an average salary of $41,872 (2011-2012 report). This is higher than the reported means of most other majors in the Labovitz School of Business and Economics and the other colleges at UMD!

Maybe this isn’t enough to convince you to become an accounting major, but if there’s one thing to take away from this it’s this: Do your research, take personality assessments if you are unsure of your interests, and talk to people in the field! By having a fundamental understanding of who you are and what you want to do, you will be able to confidently begin your job/internship search as you progress through college.

Read Michael’s other posts

2 thoughts on “Why Should You be an Accounting Major?

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