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Better salary -> Economics, accounting or finance?

andaluzaandaluza Posts: 86Registered User Junior Member
edited July 2010 in Business Major
So my question is: which career should have a better career prospect as in salary, a major in economics, accounting or finance?
Post edited by andaluza on
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Replies to: Better salary -> Economics, accounting or finance?

  • footballfan832footballfan832 Posts: 168Registered User Junior Member
    It depends on the college you attend. Probably accounting.
  • Serious101Serious101 Posts: 120User Awaiting Email Confirmation Junior Member
    Unless you are going to Wharton for Finance, then without question Accounting.
  • ToshtemirovToshtemirov Posts: 653Registered User Member
    If you talk about bachelors degrees and starting slaries right out of college then:

    1)Economics
    2)Finance
    3)Accounting

    However, if you look at the job stability/availability and salary growth then:

    1)Accounting
    2)Finance
    3)Economics
  • sp1212sp1212 Posts: 795Registered User Member
    Highest potential salary
    1)Finance
    ...
    ...
    ...
    2)Economics
    ...
    ...
    ...
    ...
    ...
    ...
    3)Accounting
    4)MIS
  • sp1212sp1212 Posts: 795Registered User Member
    That makes sense. If anything I thought it would be a tie with Accounting. But I am sure the rest of it is accurate. MIS really does have strong potential. I know Supply Chain Management is on the rise...huge potential for graduates.
  • DenuMzDenuMz Posts: 250Registered User Junior Member
    Seems like accounting dropped down on the list. They were above finance and econmics a few months ago.
  • JuggernautCos0JuggernautCos0 Posts: 163Registered User Junior Member
    These days accounting is turning into that position that could be outsourced. Some companies have kept a few accountants on hand and outsources most of their work to companies in India.
  • jonahrubinjonahrubin Posts: 547Registered User Member
    I'd do SCM/accounting if I could get both majors without it delaying my graduation, provided your school has an established SCM department that gets recruited. If it's brand new and the people running your school really don't know what to make of it and how to convince companies your program is good, then that's a different story. If you can't do a double major, just take a couple of each classes and whichever one you prefer can be your major, the extra classes in the other discipline can just be your electives you probably need to do anyway.
  • JuggernautCos0JuggernautCos0 Posts: 163Registered User Junior Member
    Saying Finance has the highest potential payed degree is a longshot. As a undergraduate degree any three of these degrees can make a lot in the longrun. Graduate level it is a different game.
  • n1cktmn1cktm Posts: 15Registered User New Member
    I think it really matters where you go to school. With accounting you can get a job at a Big 4 firm and you do not need to go to a TOP school to do this. You will start at around 55k+ in a big city. After 5years of work you will probably make manager and make around 85k. Then you use the resume power of Big 4 and transfer to industry into an executive position where you can make 125K+. The longer you stay in big 4, the greater exit opportunities you have and can land a job as a CFO for 200K+. All of this can be done with a degree from a good school. If you make partner (2% do) you can expect 300k on start and the highest paid partner make $1mil.

    Finance has MUCH higher earning potential and bonuses alone will pay you an accountants salary. However, to break through to the high paying corporate finance jobs, IB, hedge funds, etcyou will need to go to a TOP school. The Ivies, Stern, and other highly ranked programs. Going to an average university is not going to open many doors unless you have connections. A finance degree with an average college will probably just land you a job working as a bank officer with career advancement potential but you are not going to be making a lot of money.

    So in summary, finance degree at a great school = highest potential for $$$
    Accounting degree from an average school = big 4 --> exit opportunities: 150~200k
  • plscatamacchiaplscatamacchia Posts: 586- Member
    ^^As a history major who is just now looking to get into accounting, what's your experience with these two majors?
  • n1cktmn1cktm Posts: 15Registered User New Member
    Two graduates from my fraternity are working for Big 4, one works at KPMG and the other at PwC. One of my best friends is in his junior year at NYU Stern and has an internship at Goldman Sachs and making a prorated salary and another friend studied finance at BU and now works at Merill Lynch. So in terms of potential career paths and earnings I know plenty. In terms of where to go as a transfer to get into accounting because I do not like my school, I know little as of now.
  • Inmotion12Inmotion12 Posts: 1,042Registered User Senior Member
    The three have comparable starting salaries, but economics majors have much higher mid-career salaries for some reason (I'm thinking it has to do with the way economics teaches one to think about decision-making).
  • MusicJoshMusicJosh Posts: 70Registered User Junior Member
    ^ isn't it because a lot of ivies/highly ranked schools don't have business schools, so therefore kids major in econ?
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