Understanding the Numbers When reviewing job growth and salary information, it’s important to remember that actual numbers can vary due to many different factors — like years of experience in the role, industry of employment, geographic location, worker skill and economic conditions. Cited projections do not guarantee actual salary or job growth.
If you’re passionate about money management, budgeting and strategic financial planning, an accounting degree can provide the essential skills to kick-start a rewarding financial career.
Accounting professionals use their skills to help organizations find valuable insights through numbers, uncover the story they tell and then explain that story to others, said Mona Stephens, an accounting faculty lead at Southern New Hampshire University (SNHU) with over 25 years of professional accounting experience. “People looking to enter the field can acquire those skills through practice and their own intellectual curiosity,” she said.
Pursuing an accounting degree opens the door to a wide variety of career paths—not just tax preparation and auditing. While traditional accounting jobs focused on numbers and financial statements are common, your skills are also highly transferable to roles in business operations management and more.
In this comprehensive guide we’ll explore some of the diverse options for putting your accounting knowledge to use in fields beyond public, corporate or governmental accounting. With a dynamic accounting education you can take your career in many directions.
Accounting Degree Flexibility
An accounting degree equips students with expertise in areas like:
- Financial reporting
- Budget analysis
- Cost controls
- Business processes and IT systems
- Regulatory compliance
- Data analytics
- Project management
This multifaceted skillset allows accounting graduates to thrive in various corporate, nonprofit, government and entrepreneurial settings beyond pure accounting positions. Your analytical and problem-solving abilities will bring value to any organization.
While some roles may require additional certifications or training, an accounting foundation is versatile. Let’s examine some of the many possibilities.
Corporate Finance
Accounting grads are perfectly primed for corporate finance roles like financial analysts, managers, and chief financial officers who oversee high-level strategic planning. You could:
- Manage investments, capital expenditures, cash reserves
- Guide business growth plans and acquisition decisions
- Conduct cost and risk assessments for major initiatives
- Lead financing activities like going public, taking loans, issuing bonds
- Coordinate shareholder dividend policies and external reporting
Your accounting insights make you an asset for maximizing profits and shareholder value.
Business Operations
Operations management ensures the efficient day-to-day functioning of organizations. Accounting graduates possess the business acumen to excel in operational roles like:
- Management consultants optimizing processes
- Systems analysts assessing IT needs
- Logistics managers coordinating complex supply chains
- Quality assurance leaders controlling manufacturing
- Operations research analysts modeling solutions
- Corporate controllers overseeing accounting operations
Optimization of people, processes, and systems falls within your accounting wheelhouse.
Entrepreneurship
Many accountants leverage their financial expertise to successfully launch and grow their own ventures. As an entrepreneur, your accounting degree helps you:
- Create realistic business plans and financial projections
- Seek appropriate startup funding
- Manage bookkeeping, taxes, cash flows
- Analyze sales data and set profitable pricing
- Identify cost-saving measures
- Comply with regulations
- Expand through data-driven decisions
Accountants have the tools to build companies from the ground up.
Government and Law
Your accounting skills translate well to legal and public sector occupations like:
- Federal and state accounting/auditing roles
- FBI forensic accounting fighting financial crimes
- Homeland security roles tracking funding sources
- Financial examiners for regulatory agencies
- Revenue agents, property assessors, compliance officers
- Contract managers handling public procurement
- Paralegals supporting litigation teams
Accounting expertise strengthens financial oversight, law enforcement, and legal analysis for government.
Technology
Organizations rely on accounting information systems and complex enterprise software. Your technology-related options include:
- Software implementation consultants
- Business systems analysts
- Information security analysts
- Data engineers and architects
- Project managers for software rollouts
- Product managers for financial tech products
Bridge your accounting knowledge with the latest tools and software applications.
Teaching
Share your accounting passion with the next generation by becoming a:
- Professor at community colleges or universities
- High school business teacher
- Professional tutor or academic advisor
- Author of textbooks or online instructional content
- Corporate accountant trainer
- Licensed CPA mentor
Instruct at academic institutions or through private endeavors.
Consulting & Freelancing
Many accountants strike out on their own to provide specialized services like:
- Forensic accounting investigations
- Nonprofit consulting for maximum impact
- Personal finance and tax advising
- SOX compliance assessments
- LLC formation and bookkeeping
- Auditing and financial optimization
- Project-based CFO services
- Expert witness services
Freelance your skills on your own schedule.
Transferable Skills
While the specific positions are diverse, accounting crosses over into many fields due to core transferable abilities:
- Attention to detail
- Data analysis
- Regulatory knowledge
- Ethics
- Critical thinking
- Research
- Project management
- Communication
- Software proficiency
Leverage this versatile skillset however fits your strengths and interests. The possibilities with an accounting degree are endless!
Networking Opportunities
Don’t limit your job search to generic job boards. Many exciting accounting-related opportunities arise through networking. Connect with others in your field via:
- Alumni associations
- Professional associations like AICPA or FEI
- Conferences and events
- Volunteering
- LinkedIn outreach
- Informational interviews
- Former internship colleagues
Build your professional community to unlock new prospects.
Final Thoughts
A degree in accounting offers so much more than just becoming a CPA. Although that path is great for many, it’s far from the only option.
Get creative and target roles that align with your unique aspirations. With sound accounting fundamentals, you can take your career in countless directions across business, technology, law, education and more.
Remember to highlight your specialized accounting training, but also sell your versatility and transferable abilities. Use your accounting degree as a springboard to the fulfilling career you desire, whether in accounting itself or far beyond!
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Advancing your education can prepare you to enter the fast-growing financial world. Theres a variety of careers you can pursue if youve earned your accounting degree, and one obvious path is to become an accountant. But, there are still many roles to consider outside of that, such as:
- Auditor: Like accountants, auditors are tasked with reviewing financial documents for accuracy and compliance. You could work within an organization as an internal auditor or work externally with clients, according to the U.S. Bureau of Labor Statistics (BLS). You might even choose to specialize as an IT auditor, for instance. Accountants and auditors earned a median pay of $78,000 in 2022 with a projected growth potential of 4% by 2032, according to BLS.*
- Budget Analyst: With a career in budget analysis, you can help organizations and businesses organize their finances, prepare budgets and monitor spending. In 2022, budget analysts earned a median pay of $82,260, and the position is projected to grow about 3% by 2032, according to BLS data.*
- Business and Financial Consultant: A degree in accounting can give you the skills you need to work as a business and financial consultant, helping entrepreneurs and small business owners find financial success. As a business consultant, you can help other business owners manage start-up costs and investments, create a financial plan for their business and monitor day-to-day bookkeeping.
- Financial Analyst: If you want to become a financial analyst, you can expect to work with individuals and organizations to make strategic decisions based on shareholder interests, stock viability, growth expectations, competition and more. Financial analysts earned a median pay of $96,220 in 2022, according to BLS data.* Working as a financial analyst can also offer job growth.* BLS projects financial analyst jobs will grow by 8% by 2032 (or roughly 29,000 new jobs) as big data and technological advances make higher quality analysis possible.*
- Financial Examiner: With a career as a financial examiner, you’ll help ensure compliance with laws governing financial institutions and lending practices, evaluating the health of financial institutions and protecting consumers from risky loans. Financial examiners earned a median pay of $82,210 in 2022, according to BLS.* Theres a projected 12,800 new financial compliance jobs to be created by 2032, reflecting a 20% growth as financial institutions work to comply with changing regulations, BLS reported.*
- Finance Manager: With a finance manager job, you’ll be responsible for the overall financial health of an organization, directing investment activities, reviewing financial performance and overseeing long-term financial planning. Financial managers earned a median pay of $139,790 in 2022, according to BLS data, and are in high demand, with a more than 16% job growth (or 126,600 jobs) projected by 2032.*
- Management Analyst: Working as a management analyst, or a management accountant, youll make recommendations on how an organization can improve its efficiency and work through operational issues. Management analysts earned a median annual salary of $95,290 in 2022, according to BLS.* The projected job growth for management analysts is faster than average at 10% through 2032, BLS reported.*
- Personal Financial Advisor: As a personal financial planner youll provide advice to individual clients on all their financial needs, whether short or long term. Personal financial advisors help make decisions regarding tax laws, investments, insurance and more. A personal financial advisors median salary was $95,390 in 2022, with a projected 13% job growth through 2032, according to BLS.*
What Will You Learn in an Accounting Degree Program?
In an accounting degree program, you can learn how to:
- Analyze and apply financial rules and regulations
- Communicate your reports with internal and external stakeholders
- Generate financial records
You can also gain valuable skills in and knowledge of business strategy, risk management, information systems, quantitative analysis and business ethics.
Students who participate in the VITA program will be able to take the certification exams offered by the IRS, said Dr. Zuzana Buzzell, an associate dean of business degree programs at SNHU with over 15 years of experience developing, training and teaching finance, business and economics programs.
Following the completion of your certifications youll also have the opportunity to volunteer and prepare income tax filings for underserved communities and for those who may need the additional support. The volunteer work you do can apply towards your program credits through experiential learning.
“Working on group assignments, interacting via email, chat and text with classmates helped give me an idea of how to handle working remotely on a regular basis,” said Horning. “It helped me with organization, meeting deadlines, and ensuring everyone in the group is able to complete their sections by the deadlines.”
An accounting degree can also help you explore the current business landscape and develop analytical, critical thinking and strong communication skills to prepare you for a variety of jobs for accounting majors. From financial planning and consulting to budget management and data analysis.
What to Do with Accounting Degree
What can I do with a degree in accounting?
A degree in accounting can help you acquire the skills you’ll need to become a financial advisor, business consultant or investment banker. These alternative careers for accountants may require specialized training, but the rewards are worth it.
Should I get an accounting degree?
Holding this certification can also allow you other financial and industry jobs should you want to transition out of accounting or change careers entirely. Knowing the roles and positions available for those with an accounting degree can help you decide if a career change from accounting is right for you.
What can you do with a Master’s in accounting?
Experienced professionals have the chance to become senior tax associates, chief financial officers, finance directors or treasury analysts. Some of these jobs require a master’s degree and industry-specific training. A career change for accountants comes with its challenges, but you can take one step at a time.
What can a consultant do with an accounting degree?
Consultants with accounting degrees might provide recommendations and analysis, solve problems and create strategies for organizations’ accounting needs. They might advise on accounting systems, financial statements and taxes. Consultants can work for agencies, firms or themselves. Related: Learn About Being a Consultant
