<p>Until recently I had my sights set on being an ibanker and potentially making $100,000 straight out of college on route to $300,000 only 4 or 5 years down the road. However, just getting the job may be impossible in this economy, much less retaining it with the extremely hectic lifestyle. </p>
<p>As an incoming Wharton student I am planning on concentrating in finance and accounting, and though i am not completely money minded, it surely will affect my vocational decisions.
My question is how lucrative is accounting coming out of a school such as Wharton? I checked career surveys only to see little to no data on the amount that Wharton grad accountants make.</p>
<p>You will come to see the your salary will not vary from other accounting students. As long as your schools accounting program is AASCB accredited and you excel chances nearly even out across the board. If you work for one of the “Big 4” your starting salary will be between 42-55k, depending on your geographic location, not the school you attended.</p>
<p>It certainly does not pay a 6 figure starting salary. And unless you are good, you may never make 6 figures in accounting. The plus is a large amount of job security and flexibility. </p>
<p>You are an incoming student? You shouldn’t be basing your career choice on the economy. 4 years is a lot of time for the economy (at the very least) to start turning. Your business classes will generally be the same across the boards during your first 2 years. If money is your concern than perhaps your goal should be ibanking. You are fortunate to be attending, arguably, the best business school in the country. You have a lot of advantages. In accounting your application will certainly be put at the top of the pile with a good GPA, but if a student from a lesser known school does better on the interview they will get the job.</p>
<p>Finally, do not think that accounting is not hectic. While certainly less hours than ibanking, during tax season especially, a large firm could have you working 90 hours a week (and the big 4 do not pay overtime). It is a client focused business and with ANY client focuses business comes unexpected delays that will force you to work long hours to meet deadlines.</p>
<p>Accounting can be a good background for many management jobs. You won’t find many Wharton grads seeking the typical accounting position. In the current economy some may have taken such jobs, but it’s not the norm and most employers of rank and file accounting jobs don’t want to hire from Wharton–they know you’ll leave when the economy improves.</p>
<p>^Very true. I was speaking about your “run of the mill” accounting jobs graduates seek. Your job prospects from graduating from such a prestigious programs will be much more broad, but the audit/tax jobs will be handed out rather evenly.</p>