<p>I know my major will be finance, but I’m having a difficult time picking a minor I would like. So I just have a few questions about each.</p>
<li> Which is tougher?</li>
<li> Which will graduate programs look at more favorably?</li>
<li> Which will give me more job options?</li>
<li> Which will help me more in the business world?</li>
<li> Which minor/major USUALLY leads to a higher salary?</li>
<li> Which would you take along with a major in Finance, and why?</li>
</ol>
<p>I know its a lot of questions, but seeing the posts Sakky and Alexandre have recently made, I know you guys are willing to help. Thanks in advance!</p>
<p>Accounting minor usually requires a higher GPA and would require maybe a couple more classes. Econ is probably harder, simply do to the fact that many high level econ classes involve all sorts of crazy math. In terms of minors, the salary would be any different, but in terms of majors, Accounting pays alot more esp if you pass CPA test. Econ is just to broad of a field to forecast what kind of salary you can make. I would honestly go with a management minor if I was you, it would probably make you more employable. That would constrast nicely with the more math based major you have chosen.</p>
<p>Both are considered hard for different reasons. Economics requires more papers than accounting. Accounting is a "mathematical" major and can have have some very difficult tests. Accounting, however, has more kids going into it than ever before. Thus, schools make it harder (gradewise) to get into it and to stay in it.
2. Which will graduate programs look at more favorably?</p>
<p>Again, it depends on the grad program. If You are want a grad program in Economics, you should major in economics. However, for professional schools, it doesn't matter.</p>
<ol>
<li><p>Which will give me more job options?
No question: accounting</p></li>
<li><p>Which will help me more in the business world?
Certainly, in my opinion, accounting</p></li>
<li><p>Which minor/major USUALLY leads to a higher salary?
This also depends. If you go into economics, you will need at least a masters and preferably a PHD. With a PHD, you will generally earn more than a BBA in accounting. However, if you get your BBA and pass the CPA, and go into private practice or become a partner in an accounting firm, you will earn a lot more money than that of most economists.</p></li>
<li><p>Which would you take along with a major in Finance, and why?
Definitely accounting. It is a much more practical major.</p></li>
</ol>
<p>However, all this said: I would go into the major that interests you more. If you hate what you are doing, it is worthless, and you won't make money in it anyway.</p>
<p>Thanks for the replies.
Joev- If I want to get a MBA, then would there be any reason for me to get a BBA?
Taxguy- I was thinking about getting a degree in finance and minor in economics. Then, after I graduate, I would take some online courses to get an associates in accounting. What would you say to this?</p>
<p>I found this on MSN news,"Accounting remains one of the best backgrounds to have for a job-hunting senior. PriceWaterhouseCoopers plans to hire about 3,100 people off U.S. college campuses this year, up almost 19 percent from last year. Ernst & Young, another big accounting firm, plans to increase hiring about 30 percent this year and bring on 4,000 new college grads. Jim Case, director of the career center at Cal State-Fullerton, says regional and local accounting firms are hiring, too."</p>
<p>As for your new question, MBA programs don't normally give you all the courses that you need to pass the CPA exam. The state societies of accounting have very specific requirements. If you are thinking of going into accounting, take it as an undergraduate. Accounting is a very beneficial major for business or even for an MBA program. You will have a real head start over kids that didn't major in it by your indepth understanding of financial statements, plus you will learn a skill that most kids ( and many adults) don't know how to do: balance a check book.</p>
<p>I understand what you are saying taxguy, but what I wanted to know is if it would be better to further my education online (such as University of Phoenix online) after I receive my bachelors. Thanks for the replies again.</p>
<p>'Both are considered hard for different reasons. Economics requires more papers than accounting. Accounting is a "mathematical" major and can have have some very difficult tests. Accounting, however, has more kids going into it than ever before. Thus, schools make it harder (gradewise) to get into it and to stay in it.
2. Which will graduate programs look at more favorably?"</p>
<p>I busted up laughing when I read this, Accounting a "mathematical" major there is a whole lot more advance math in econ than accounting, and econ it self isn't a "mathematical major either". "Mathematical" majors out side of math it self are, Engineering, Physics, and Statistics. You learn nothing more than childish math in accounting. </p>
<p>For the OP accounting is definetly better. Go for accounting, infact if you can double major in accounting. Also econ is to similar to finance to be usefull for a finance major.</p>
<p>Also FYI you don't need an accounting major to take the CPA exam, a minor will normally be enough depending on your major. Hell a major in Statistics with a double minor in accouting, and econ can qualify you, when statistics has nothing to do with accounting.</p>
<p>VTBOY notes,"You learn nothing more than childish math in accounting. " You obviously haven't taken the CPA exam recently. Accounting doesn't have the sophisticated math of math or statistics,but what they do cover is quite tought. For example, only 5% of CPA applicants pass the exam first shot, and this is after 5 years of school.</p>
<p>You can indeed major in statistics and also pick up enough courses in accounting for the CPA; however, they will number about 10-12 courses.</p>
<p>VTBOY also notes, "
I busted up laughing when I read this, Accounting a "mathematical" major there is a whole lot more advance math in econ than accounting, and econ it self isn't a "mathematical major either". " Again, what I said is that econ has more papers, which it definitely does. Accounting is almost all math, with almost no papers. The math is different. Accounting is like taking a giant SAT ( but harder) throughout the curriculum. There is neverending prolem solving, and much of it can be quite tough. Economics and Statistics use set formulas to solve set problems. I majored in accounting and minored in physics and economics; thus, I do have an idea of what I am saying.</p>
<p>I should note that, believe it or not,the thought process behind accounting problems is similar to the same type of thought process that a physics student goes through. You get an equation and must apply it to tough problems. This is not to say that accounting is as tough as physics because it isn't. However, there is a similar thought process.</p>
<p>It all depends what level of accounting and economics you get into. Upper level economics is pretty much ALL mathmatically based so it is sure to be harder than accounting. However, undergraduate economics and accounting are probably similar in the amount of math used. For economics most schools only require Calc I, which is easy stuff.</p>
<p>tax, your right, sometimes I forget that not everyone is as good in math as I am. Things I call childish math, probably is very difficult for most people. I forget many times that just because it is easy for me doesn't mean it is easy for most other people.</p>
<p>Yes, economics and finance are similar. However, wouldnt it be a nice complement to the finance? Would it not give me a better understanding of the field I want to pursue as a career?</p>
<p>Esrajay, I think I have the background to shed some light on this issue. I have a BA in Business Economics and an MA in Economics. I have taken quite a few finance and accounting courses. I have used accounting, economics, and finance in my professional carrier. First of all, finance and econ have a lot of overlap in the majors as do finance and accounting. I like to think of finance as a mixture of accounting and economics sort of like analytical accounting or practical economics. While I definitely believe it all depends on what you want to do, I think the more pragmatic suggestion would be to compliment your finance major with a minor in accounting. This will open more doors in my opinion. Econ and Finance degrees are close substitutes but accounting and econ are less similar. Again, it depends on what you want to do but in most situations the similarities between econ and finance will not signal as much applicable diversity in your undergraduate education as a minor in accounting will. For example, a minor in accounting will open the doors to the big 4 accounting firms whereas a minor in econ probably wont enhance your resume all that much. On the other hand, if you truly love economics like I do and you just cant get enough of it in your study of finance, then it would be hard to argue against studying econ.</p>
<p>Thanks for that informative post shyboy. I do have another question though. Would you disagree with the choice of graduating with a major in finance, minor in econ and then taking online courses to get an associates degree in accounting?</p>
<p>Esrajay, It really doesnt matter if I disagree or not because it is your life. However, I think you will be just as well off if you get a minor in accounting as if you get an associated degree in it. I also have an associates degree but in Computer Information Systems. I think a minor and an associated degree are pretty much equal. It seems to me as though you really like economics. Have you considered a BA in something like Managerial Economics, Mathematical Economics, Business Economics, or perhaps Financial Economics? All of these majors cover finance and economics and are close substitutes for a degree in finance. What schools do you plan on attending? The school you go to may not even have exactly what you are looking for so you may be forced to major in, say, economics. </p>
<p>To answer your question though, there is nothing wrong with getting an associates degree in accounting. But! Do your really want to spend another one or two years in school getting an associates degree when you can get a masters degree in accounting in about the same amount of time? The reason I am saying this is because you can kill two birds with one stone by getting a minor in accounting while you are still in school and must take classes anyway. If you want to further study accounting, you will spend the same amount of additional time in school getting your masters degree as you would getting an associates any you will be WAY more marketable.</p>