Should I Be An Accountant

[ArmyMP]

Hello All,

I'm just looking for some feedback as I'm currently majoring in Accounting. I currently have a good, stable job making $75k a year in the Philly suburbs and I'm going back to school because the VA GI Bill is paying for most of it. I plan on earning my degree in Accounting but not sure if I want to change careers. I'm mostly obtaining my degree because I want to take advantage of the funding opportunity by the VA as well as being an academic example for my 3 year old son when he gets older. My question is this, if I were to obtain a B.B.A. in Accounting or possibly a graduate degree and CPA, could you see potential advancement from where I currently am? In other words, I don't think my education in Accounting will ever provide more earnings potential than I'm already making. I'm currently an insurance fraud investigator and perhaps that background could integrate with an Accounting degree? Not sure but just wanted to gather some thoughts from people who live Accounting.

Thanks in advance for all of your feedback!

 

[Counterofbeans]

My question is this, if I were to obtain a B.B.A. in Accounting or possibly a graduate degree and CPA, could you see potential advancement from where I currently am?

Granted, it very much depends on a whole host of factors, but, my immediate response would be, "Absolutely"

In other words, I don't think my education in Accounting will ever provide more earnings potential than I'm already making. I'm currently an insurance fraud investigator and perhaps that background could integrate with an Accounting degree? Not sure but just wanted to gather some thoughts from people who live Accounting.

See comment above about how it depends on a whole host of factors (i.e. how good of an accountant you are, your goals, motivation, etc.), but you can, quite easily, especially once you get a few years under your belt, DWARF $75k in accounting. Note that this amount does exceed the national average a CPA earns, but it is fairly easy to exceed that amount if you have the moxie & intelligence.

If public accounting interests you, I'd say that the earnings potential is going to start increasing, perhaps significantly. The PCAOB, and their insane requirements, is pushing people OUT of public accounting and the firms are starting to feel the pressure of keeping staff on hand. This is a good thing for people entering the profession, as the demand is clearly on the rise in my mind. I believe the STARTING salary for staff at the Big-4 is mid $50s (So Cal area) for crying out loud and that is likely going to increase. And these kids would trip over a G/L it's so foreign to them. It's insane right now...

You'll also see that unemployment amongst accountants, especially CPAs, is far below the national average.

Like I said above, it depends on a whole host of factors, many/most of them boil down to who you are and how good of an accountant you can be. But I'd say that accounting is still very much a very safe field to go into and, perhaps, can lead to serious paydays if you climb the ladder and take on serious/more responsibilities (i.e. partner in CPA firm, controller/CFO of a large public company, etc.)

 

[ArmyMP]

Thanks for the insight, Counter. I have the intelligence and motivation which is why, in my opinion, I think I'm doing ok salary-wise without a degree at all. I'm getting my degree regardless of potential so I guess what I will have to evaluate in the future is if it will be worth a step back to unlock the potential to move forward.

Thanks again for your input!