Is An Accounting Degree Worth It? 5 Reasons to Consider

“‘Tis impossible to be sure of anything but death and taxes”—or at least that’s how the famous phrase goes. With the inevitability of taxes comes the consistent need for accountants, and the U.S. Bureau of Labor Statistics agrees. They project that the employment rate of accountants will grow by 6% by 2033, faster than the growth rate for all other occupations. Additionally, complicated tax situations and business globalization mean that accountants are in high demand.

Even so, you may be wondering if an accounting degree will be worth it. To answer that question, you’ll want to consider what career options you’ll have, the education required, and your professional goals.

Key Takeaways

• • A bachelor’s degree in accounting prepares students for a variety of careers in accounting, finance, and business management.
  • Transferable skills and a growing employment rate make accounting one of the top degrees for job stability, career advancement, and increased earning potential.
  • An increasing number of accounting jobs can be performed remotely, making an accounting degree ideal for students interested in remote or hybrid positions.

What Does an Accounting Degree Entail? 

A bachelor’s degree is the typical entry point to a career in accounting, so you may be wondering what coursework is required. An accounting degree program prepares students for the challenges of public and corporate accounting. Along with general business courses, the curriculum for an accounting degree emphasizes various subsets of accounting, taxation, economics, financial reporting, and auditing.

The coursework can also vary depending on the type of accounting degree you pursue. Whereas a Bachelor of Science in accounting will concentrate predominantly on accounting practices, a Bachelor of Business Administration (BBA) in accounting will have a broader focus. Depending on your career goals, this wider scope can be particularly beneficial. For students interested in career paths adjacent to accounting, such as chief financial officer or other executive roles, a BBA provides invaluable education in business management and communications.

5 Reasons Why Earning an Accounting Degree Is Worthwhile

Now that you understand the basics of an accounting degree, it’s time to explore why earning one would be worthwhile. While the pros and cons will vary depending on your interests and goals, there are clear advantages to earning an accounting degree.

Here are five reasons an accounting degree is worthwhile:

1. Job Stability and Demand

Tax laws and brackets change annually. On top of that, the complexity of tax filing and auditing can be impossible to navigate without an accountant’s assistance. Just as taxes aren’t going anywhere, companies and individuals alike require the expertise of accountants in their financial management. As previously mentioned, the employment rate for accountants is on the rise, making an accounting degree an excellent choice for job stability.

Some may worry about the effect of automation on the demand for accountants; however, automation actually helps accounting professionals by allowing them to automate rudimentary tasks. This lets accountants take on more complex tax and audit situations, ensuring their continued value to clients.

2. Career Paths and Transferable Business Skills

While a BBA in accounting will prepare you to work as a Certified Public Accountant (CPA), that isn’t the only career path available to accounting graduates. An accounting degree opens the door to numerous job opportunities, such as:

• Managerial/cost accountants
• Internal revenue agents
• Tax consultants
• Internal auditors
• Financial executives
• Personal financial advisors
• Budget/financial analysts
• Accounting clerks

If you are interested in working in a variety of settings beyond a traditional accounting firm, a Bachelor of Business Administration in accounting is particularly advantageous. Along with a foundation in accounting principles, a BBA degree equips you with transferable business and communication skills that are applicable in many roles. This versatility is another reason that accounting graduates are in demand and have job stability.

3. High Earning Potential

In 2024, the median annual salary for accountants and auditors was $81,680, meaning they earn more than the average American. For the top 10% of earners in the accounting industry, their earnings were over $141,420. An accounting degree can bring even higher earning potential depending on factors like location, industry, and education level. However, high earning potential isn’t limited solely to accountant and auditor roles.

As mentioned, a developed business skill set allows accounting graduates to progress across industries and into mid-level and senior roles. For example, many financial managers have a bachelor’s degree and background in accounting; these professionals work in banks, investment firms, and insurance companies, and they earn a median salary of $156,100. In some cases, a master’s degree may be necessary to acquire these roles, but the rise of online business programs makes pursuing further education easier than ever.

4. Path to Professional Credentials

On the topic of further education, an accounting degree is particularly invaluable for another reason: it provides a direct pathway to CPA certification. While not all accounting careers require a CPA, a state-issued credential, it is required for many public accounting roles. While the requirements to sit for the CPA exam vary by state, in most states you must first complete 150 college credits and finish your bachelor’s degree. A typical bachelor’s degree is 120 credit hours, so most graduates must take additional coursework beyond their bachelor’s degree to take the CPA exam.

Not only does a bachelor’s in accounting get students most of the way to satisfying this requirement—it also ensures they’ve completed the necessary accounting and business coursework to pass the exam. Like many professional credentials, a CPA certification also gives you a competitive advantage in the job market, even for roles that don’t require the credential. Overall, if your goal is to earn your CPA certification, a BBA in accounting acts as an essential stepping stone.

5. Remote and Hybrid Working Options

After many companies adopted work-from-home models in 2020, the option for remote work has become a top priority for many people. You may be wondering if accountants can work from home, and the answer is yes! With advancements in cloud-based software and digital financial documents, it’s never been easier for accounting professionals to work from home.

Remote work benefits both accountants and the companies that employ them in several ways, such as:

• More flexibility: A remote or hybrid schedule allows many accountants to structure their own workday based on when they’re most productive and eliminate distractions found in an office environment. Providing accountants with this flexibility ultimately improves their work and benefits the company as a whole.
• Less burnout: Burnout is inevitable in the accounting field, particularly during tax season and annual audits. By reducing common stressors that cause burnout, like a long commute or poor work/life balance, companies alleviate high turnover rates in the accounting profession.
• Global opportunities: Remote work goes hand-in-hand with the globalization of business. Gone are the days of struggling to meet with international clients; due to work-from-home arrangements, it’s much easier for accountants to communicate with clients—whether they are in a different time zone or on a different continent.

Because of these benefits, more and more accounting firms are implementing remote work options. If the ability to work from home is a non-negotiable for you, an accounting degree can help you land one of these coveted jobs!

Who Is an Accounting Degree Right For?

Armed with the knowledge of why an accounting degree is worth it, you can now consider something even more important: is an accounting degree worth it for you? A degree may offer numerous benefits, but it’s crucial to reflect on your own interests and goals to get the most out of your education. With a clear understanding of why you’re pursuing an accounting degree, you can shape your educational experience accordingly and thrive in your chosen program.

For starters, it’s helpful to consider what your dream career looks like. If it involves accounting, finance, or business, then accounting is a great avenue for honing the skills you’ll need! Once you’ve decided which industry or specific role interests you, then you can also tailor any concentrations or elective coursework to support your chosen career path. Whether your area of interest is tax preparation, financial management, or global business practices, you can shape your accounting degree in pursuit of these goals.

Ultimately, an accounting degree is right for individuals who are analytical, enjoy working with numbers, and are interested in the wide variety of potential accounting careers. 

Making the Most of Your Accounting Degree

If you’ve decided to pursue an accounting degree, you’ve taken a huge step toward your future career! However, the decisions you make while earning your degree have a huge impact on your future as well. There are several ways to get the most return-on-investment (ROI) out of your accounting degree, such as:

• Consider earning your master’s degree in accounting or a related field, such as business administration or taxation
• Sit for your state’s CPA exam
• Explore a variety of professional accountancy certifications
• Gain real world experience through co-op and internship programs

About UC’s Online BBA in Accounting

Maybe the prospect of earning your accounting degree in-person sounds too difficult. What about pursuing your accounting degree 100% online? With the rise of remote work and technological advancements, distance education has become an attractive option for many students. Through the University of Cincinnati’s online BBA in accounting program, you can earn your accounting degree at your own pace.

At the UC, our online programs are designed to mirror the in-person educational experience while providing additional flexibility. You further your education while balancing full-time employment and time with friends and family. And if you’re concerned about adjusting to online learning, UC’s staff is dedicated to supporting you as an online student.

Want Personalized Help with Your Accounting Career? Let UC Help!

While we think a flexible, online accounting degree is more than worthwhile, you may have more questions. Luckily, you can contact an Enrollment Advisor for more information! They can provide expert advice for every step of the enrollment process.

Already convinced that a BBA in accounting is the perfect fit for you? Don’t wait to start your accounting journey. Apply to the University of Cincinnati’s online program today!

Frequently Asked Questions (FAQs)

What are the prerequisites for taking the CPA (Certified Public Accountant) exam?

Typically, individuals must hold a bachelor’s degree and have completed 150 credit hours of coursework (with a certain amount of hours in accounting courses and general business courses). However, prerequisites for taking the CPA exam vary by state, and you will want to check your state’s specific requirements.

Is it a good idea to get an accounting degree?

Yes, an accounting degree is a smart investment for students who want job stability, strong earning potential, and flexibility across a wide range of industries. It’s also a great choice if you enjoy working with numbers, solving problems, and making sense of financial data.

Is an accounting degree worth it without a CPA?

An accounting degree is absolutely worth it without earning your CPA. While the CPA can open doors to certain public accounting roles, an accounting degree alone qualifies you for many in-demand careers, from financial analyst to internal auditor to budget manager. It also builds a strong foundation of business and communication skills that translate across industries.

What is the difference between accounting and bookkeeping?

Bookkeeping is primarily concerned with recording financial transactions, whereas accounting may involve financial analysis and management, tax preparation, and financial reporting. Accounting tends to offer more room for growth and higher earnings, but both are viable options in the accounting field.

What type of accountant has the highest average salary?

A Chief Financial Officer (CFO) is currently the highest paid type of accountant. This is an executive role with an average reported salary of $333,465-$570,579.