Better salary -> Economics, accounting or finance?

College Majors Business Majors
1

<p>So my question is: which career should have a better career prospect as in salary, a major in economics, accounting or finance?</p>

2

<p>It depends on the college you attend. Probably accounting.</p>

3

<p>Unless you are going to Wharton for Finance, then without question Accounting.</p>

4

<p>If you talk about bachelors degrees and starting slaries right out of college then:</p>

<p>1)Economics
2)Finance
3)Accounting</p>

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

<p>1)Accounting
2)Finance
3)Economics</p>

5

<p>Highest potential salary
1)Finance
…
…
…
2)Economics
…
…
…
…
…
…
3)Accounting
4)MIS</p>

6

<p>^^Wrong.</p>

<p>Informations Science, MIS, CIS, w/e you want to call it>Accounting. And not far behind Finance and Economics. </p>

<p>[College</a> Majors with High Earnings Potential](<a href=“http://www.examiner.com/x-28828-Bay-Area-College-Admissions-Examiner~y2010m5d16-College-Majors-with-High-Earnings-Potential]College”>http://www.examiner.com/x-28828-Bay-Area-College-Admissions-Examiner~y2010m5d16-College-Majors-with-High-Earnings-Potential)</p>

<p>[Best</a> Undergrad College Degrees By Salary](<a href=“http://www.payscale.com/best-colleges/degrees.asp]Best”>Common Jobs for Majors - College Salary Report)</p>

<p><a href=“http://online.wsj.com/public/resources/documents/info-Degrees_that_Pay_you_Back-sort.html[/url]”>http://online.wsj.com/public/resources/documents/info-Degrees_that_Pay_you_Back-sort.html&lt;/a&gt;&lt;/p&gt;

<p><a href=“http://www.collegenews.com/index.php?/money/the_most_and_least_profitable_college_majors_0510201030824517/[/url]”>http://www.collegenews.com/index.php?/money/the_most_and_least_profitable_college_majors_0510201030824517/&lt;/a&gt;&lt;/p&gt;

<p>I’m sure I could find more?</p>

7

<p>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.</p>

8

<p>Seems like accounting dropped down on the list. They were above finance and econmics a few months ago.</p>

9

<p>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.</p>

10

<p>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.</p>

11

<p>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.</p>

12

<p>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. </p>

<p>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.</p>

<p>So in summary, finance degree at a great school = highest potential for $$$
Accounting degree from an average school = big 4 –> exit opportunities: 150~200k</p>

1 Like
13

<p>^^As a history major who is just now looking to get into accounting, what’s your experience with these two majors?</p>

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<p>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.</p>

15

<p>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).</p>

16

<p>^ isn’t it because a lot of ivies/highly ranked schools don’t have business schools, so therefore kids major in econ?</p>

17

<p>Its all about the type of work you will do for a company. A degree will open doors, but then it is up to you. My District Manager makes about $120k-$150k; he has no degree. My company has a Manager Trainee program for recent college graduates. It will pay you $21-$25 an hour during training. Once you complete the training, you will be a Branch Manager or Co-Manager making $50-$60k including bonus. They want either an Accounting, Financial, Economics, or General Business degree. I think its about what you do with your degree, and your work ethic that will determine how much you make.</p>

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<p>The founder of Oracle has billions, he was majoring in history at the time he went to UIUC.</p>

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<p>These lists give the reall accounting salary, unlike Payscale. Anybody knows why Payscale’s salary information never matches the reall one lol. I can’t look at it without cursing. Just look at payscale’s first:</p>

<p>[Public</a> Accounting Starting Salaries | eHow.com](<a href=“http://www.ehow.com/facts_6751963_public-accounting-starting-salaries.html]Public”>http://www.ehow.com/facts_6751963_public-accounting-starting-salaries.html)</p>

<p>[The</a> Average Starting Salary for a CPA | eHow.com](<a href=“http://www.ehow.com/about_5208216_average-starting-salary-cpa.html]The”>http://www.ehow.com/about_5208216_average-starting-salary-cpa.html)</p>

<p>^GARBAGE</p>

<p>now the reall one:</p>

<p>[Accounting</a> Salaries](<a href=“http://www.tscpa.com/student/career/salaries.aspx]Accounting”>http://www.tscpa.com/student/career/salaries.aspx)</p>

<p>[Careers-in-Accounting.com:</a> Your Guide to Salaries](<a href=“http://careers-in-accounting.com/acsal.htm]Careers-in-Accounting.com:”>Web Page Under Construction)</p>

<p>If Payscale’s salary was true, then nobody would go into accounting</p>

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<p>^^Neither of those are payscale. The ones that I listed from payscale give very similiar, if not better projections than the “real” ones.</p>

<p>ehow=/= payscale…</p>