I regret majoring in accounting...

College Majors Business Major
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<p>I originally entered college as a film major, but switched to accounting within one semester because I thought it would be more practical. As I learn more about accounting as a career, though, I've come to realize that I have no desire whatsoever to work as an accountant. From what I understand, accountants work terrible hours for low pay doing repetitive tasks.</p>

<p>I've heard reports from engineering grads who state that they work a standard 40-hour week year round for a starting salary upwards of $60,000. I'm no genius, but I know I could have handled the curriculum for engineering. I'm entering my junior year, though, and by this point switching majors isn't really an option. I go to an expensive private school (University of Miami) and if I go over 4 years my scholarship runs out and I'll start being charged full tuition which is $50,000+.</p>

<p>I guess the whole point of this story is a lesson to any students entering college. If you don't know what you want to major in, DON'T GO TO COLLEGE. Go to community college instead or take a year off and figure out what you want to do in life. Do not go to university without a plan or you'll find yourself stuck in a position you'll later regret.</p>

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<p>You won’t work a standard 40 hour week as a full-time engineer, sorry to burst your bubble. Maybe a couple said that but it’s not the norm. I know several engineering grads and all they do from sun up til sun down is work.</p>

<p>The grass is always greener.</p>

<p>That said, you’re probably stressing out too much. An accounting degree does not force you to be an accountant. Accounting positions are just the most abundantly available. You are eligible for practically anything “business” related (business analyst, marketing, entry-level management, whatever).</p>

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<p>First just let me tell you why you’re wrong. And this is for those who plan to start in public accounting or respectable private companies, not little crap bookkeeping jobs so keep that in mind.</p>

<ol>
<li><p>Public Accounting at a large firm starts at between $50-60k/year, which is well above average for a college grad, and more than most households in this country make. Not to mention this is with minimal post-grad education (only 150 credits is needed to be a licensed CPA). If you’re determined enough to get into a Big 4 firm, you have now set yourself up for a cushy upper middle class lifestyle after a few years with not much effort.</p></li>
<li><p>Yes, at first, and probably throughout your career you will not work 9-5. In public accounting, it’ll be closer to 60-80 hours in the couple month busy season and about 40-50 in the regular season. If and when you go to private industry you will probably be consistently in the 40-50 range. Or you can open up your own practice and work 30 hours if you so desire. News flash, no one who is financially successful works 9-5 without ever putting in some long hours, at least in the beginning of their careers. If you think otherwise you’re living in a fantasy land. Like the above poster said, if you think engineer work is all sunshine and rainbows and you never work over 40 hrs and make a 100k a year doing so, you’re wrong. Anyone who starts breaking into that six figure salary mark works hard to get there. </p></li>
<li><p>When you talk about repetitive stuff every day, you are probably thinking of bookkeeping more than accounting, a common error among people who are ignorant to the field. The bean counter stereotype is inaccurate for people who actually have good accounting jobs. In fact, most public accounting firms care way more about your social/people skills than your GPA, past a certain cut off point.</p></li>
</ol>

<p>If you disagree, fine. Go back to film. Yeah, there may be a chance you make it big somehow, but that chance is a spec in the universe compared to the chance that you will be perpetually unemployed and making just enough to make ends meet. No, accounting isn’t sexy or exciting all the time, but it is definitely a pathway to a nice, cushy, upper middle class living with not too much effort, with potential for more with a lot of hard work. That way, when you do get home from work, you can enjoy your time instead of worrying about paying the rent.</p>

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<p>Don’t ruin your life. Transfer to another college. Major in what you love. Goto USF or UCF and major in engineering.</p>

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<p>“And this is for those who plan to start in public accounting or respectable private companies, not little crap bookkeeping jobs so keep that in mind.”</p>

<p>Easier said than done. But I agree, better jobs are harder to come by regardless of major. </p>

<p>“1. Public Accounting at a large firm starts at between $50-60k/year, which is well above average for a college grad, and more than most households in this country make.”</p>

<p>Try $40-60K, depending on location. </p>

<p>“Not to mention this is with minimal post-grad education (only 150 credits is needed to be a licensed CPA).”</p>

<p>Only? 150 is alot and is definitely a barrier to entry for many. You can definitely major in so many more different subjects to get a salary equal and/or better and only need a 4 year degree. </p>

<p>“If you’re determined enough to get into a Big 4 firm, you have now set yourself up for a cushy upper middle class lifestyle after a few years with not much effort.”</p>

<p>I’d argue with that last part. Few years at a big 4 firm DOES take quite a bit of effort (especially for the pay involved). But I agree, it’s definitely worth the effort in the long run. & I agree with your point #2, people who get paid well, generally (although not always) work hard. & I think what the OP is getting at, is that public accounting salaries are, relatively low, when compared with starting salaries elsewhere, especially when you factor in the number of hours you will be working (ex: the top engineering and computer science students at your school will probably easily be making double what the top accounting students are). </p>

<p>“No accounting isn’t sexy or exciting all the time, but it is definitely a pathway to a nice, cushy, upper middle class living with not too much effort, with potential for more with a lot of hard work. That way, when you do get home from work, you can enjoy your time instead of worrying about paying the rent.”</p>

<p>I agree with the jist of this, which is that accounting is not sexy, which is what some students seem to envision lol, but it is a deccent career path and is much more stable than many you could choose. I’d recommend it.</p>

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<p><a href=“ex:%20the%20top%20engineering%20and%20computer%20science%20students%20at%20your%20school%20will%20probably%20easily%20be%20making%20double%20what%20the%20top%20accounting%20students%20are”>quote</a>.

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<p>Tell me what school has an average starting salary for comp sci and engineering grads at 100k?</p>

<p>And many Engineering major’s job prospects are not at the level of accounting, engineering majors go through booms and busts (comp sci/Comp eng when the internet bubble popped, nuclear engineers for a while now etc)</p>

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<p>very informative post domrom.</p>

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<p>To whatyoudid: I can tell you’re a pretty well-informed individual but I must correct you on some things. </p>

<p>“Easier said than done. But I agree, better jobs are harder to come by regardless of major.”</p>

<p>I go to an absolute non-target school, and already have a Big 4 gig locked in. If you put in the effort its not that hard. But many people choose to put it off or not try.</p>

<p>“Try $40-60K, depending on location.”</p>

<p>I don’t think there is a Big 4 office anywhere in the country that starts someone off at less than ~$45k a year. Most are in the 50s, there isn’t that much fluctuation. </p>

<p>“Only? 150 is alot and is definitely a barrier to entry for many. You can definitely major in so many more different subjects to get a salary equal and/or better and only need a 4 year degree.”</p>

<p>The earning potential in corporate fp&a at a F500 (very, very reasonable Big 4 exit opp, probably the most common) can easily get into the 150k range, all for very little debt. There are lawyers and doctors who make similar numbers, only they are strapped with a mortgage sized debt, and didn’t get the opportunity to save money until they got out of school at age 26-30 (depending on the discipline). For 150 credits, that’s VERY reasonable. Most engineers do the same and will top out at around 100k, and you’re fooling yourself if you think the successful ones only work 9-5 all the time.</p>

<p>"(ex: the top engineering and computer science students at your school will probably easily be making double what the top accounting students are)."</p>

<p>There’s no two ways around this one, its just not true. The only ones making huge money like that would be software engineers at google or something, and if you think those guys work 9-5, again, you’re fooling yourself.</p>

<p>Everyone wants the money but no one wants to work for it. The reality is, a few years at Big 4 set you up nicely for ~$150k salary and pretty normal hours if you want it, among other things. But you have to start somewhere. Hasn’t anyone heard the expression nothing worth having comes easy?</p>

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<p>I am an engineer . 40 hours a week are very rare in this buisness. When I was younger i remember pracically putting in all nighters to meet deadlines. Also I would imagine that accounting professions have more upside later in their careers than engineers.</p>

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<p>^ Bingo!</p>

<p>Don’t get me wrong, there is certainly more to life than pay, but anyone who thinks engineers just sit around doing/building fun **** all day, leaving at 5, and making “double” what accountants make is very, very wrong.</p>

<p>Again, anyone who is successful in their careers will have to put in the hours. That’s how life works.</p>

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<p>You know nothing about accounting.</p>

<p>Accounting is one of the top majors overall in terms of everything. Accountants have higher job sanctification rates than most majors and occupations. If you get a CPA (+1 year), your salary is the same as the engineers (who all take 5 years anyways).</p>

<p>Also- You are not taking into account the ability to find a job in the first place. Film majors have trouble just even getting a job. You have a good major, stop worrying about it.</p>

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<p>but i hear a lot of rumors that if people major in accounting and pursue it as a career, they work too hard and get little pay, and are able to climb the ladder only at a snail’s pace and not get more raises, not get paid overtime, lose all social skills, get rude treatment from your bosses, etc. it’s one reason which made engineering seem more favorable to me. but i don’t know, i’m not sure that’s the entire picture of accounting though. is it?</p>

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<p>“but i hear a lot of rumors that if people major in accounting and pursue it as a career, they work too hard and get little pay, and are able to climb the ladder only at a snail’s pace and not get more raises, not get paid overtime, lose all social skills, get rude treatment from your bosses, etc. it’s one reason which made engineering seem more favorable to me. but i don’t know, i’m not sure that’s the entire picture of accounting though. is it?”</p>

<p>Wow, that is the biggest amalgam of generalizations about accounting I’ve probably ever seen.</p>

<ol>
<li>“they work too hard and get little pay”</li>
</ol>

<p>If your definition of “work too hard” is anything more than 35 hours, or 9-5 with an hour lunch, then yes, those who major in accounting work too hard. But again, I will say, anyone who is successful works more than a regular work day for some time in their life. Hasn’t anyone heard of “paying your dues,” or working hard for success? </p>

<p>As far as the pay, starting salaries for a Big 4 firm are right around the average HOUSEHOLD income in this country. So as a 22 year old college grad, you will be making right around what some people support a family on. Do your public accounting for a while, go to a private company 3-5 years in, make 70-90k starting out and then climb up from there to a modest ~150k or more if you work for it. Or stay in public and go to partner and start pulling in a couple hundred a year by age 40-45. But sorry, if you plan on doing the bare minimum and only working 9-5 your whole career, you will not make it to those numbers. And as someone confirmed above, this is applicable to engineering as well. Engineering is a well known “cap-off” profession, in that your starting salary is high, but there isn’t much room to grow. </p>

<ol>
<li>“able to climb the ladder only at a snail’s pace and not get more raises”</li>
</ol>

<p>In public accounting, it is a pretty standard promotion schedule of 2-3 years up until about senior manager. You can be will be a manager by age ~28. That is unparalleled. In private accounting, it will be slower because there is less turnover, but if you think engineering is different, you are way off. It’ll be much slower. There isn’t much of a ladder system, and you won’t be going anywhere without an MBA. Do you think engineers just keep climbing until they make it to CEO of Google? But again, all this is a moot point if you don’t wanna do more than the bare minimum. </p>

<ol>
<li>“not get paid overtime”</li>
</ol>

<p>In salaried professions, OT isn’t a norm. You work when there is work to be done. You don’t say, hey boss I’ll stay to get this done, but I better be getting paid extra for it. This isn’t a job at Wal Mart. </p>

<ol>
<li>“lose all social skills”</li>
</ol>

<p>This has got to be the worst one on the list. In public accounting, you are in a client-facing role working in a team environment, its ALL about social skills. I can’t even remember the number of firm sponsored events I’ve been to where literally all they are looking to see is how personable you are and making sure you’re not socially inept. In private accounting, office politics are part of the game (again, same in any profession), so if you don’t have social skills, you’re screwed there too. If you start your own practice, you DEFINITELY need social skills to draw in and keep clients. Accounting and business is one of the most social skill-based professions there is. You think ENGINEERING is about social skills? I happen to work in my school’s manufacturing lab as an accountant, and deal with engineering students all day. They mumble, they stutter, they get tongue-tied, they barely make eye contact, they’re nervous, sometimes even rude. I certainly hope you aren’t going into engineering over accounting because you think it’ll hone your social skills more than accounting. You should see the accounting kids at a career fair or social event compared to engineering kids. </p>

<ol>
<li>“get rude treatment from your boss”</li>
</ol>

<p>Again, this is ANY profession and is dependent on your boss. If you don’t wanan take your chance, start your own practice and answer to no one but yourself. </p>

<p>That was a lot of typing, but that was such a mess of falsehoods I just had to say something about it.</p>

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<p>haha thanks! your post definitely calmed my nerves!</p>

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<p>domrom1 gave lots of good info.</p>

<p>My borther and sister in law both have accounting degrees. Both make 6 figures. Not sure when they hit 6 figures but both have been working > 10 years. Brother is accountant for a mid size firm, never worked for big 4. SIL is controller for a city government which will give her a pension after some years (so rare nowadays).</p>

<p>Son’s friend got a big 4 offer after graduation a couple years ago. I don’t remember the exact amount but it was > 60k.</p>

<p>Husband and I both have software degrees. The pay is very good with lots of great benefits like stock options. But no one, not in accounting, not in software work 40 hours a week!</p>