<p>I don't see the point of a liberal arts major, to be honest. I would only major in finance, engineering, or something else that is quantitative (chemistry or math) so I could develop important skills. I know graduate schools want you to major in liberal arts and look down on finance/engineering types for some reason, I think it's because you actually can use those majors in real life that they don't like it. I would never pay full tuition to be a history major at an Ivy league, thats for sure.</p>
<p>It's my experience that employers seeking to hire B.A.s are often more impressed by Liberal Arts majors, if those graduates have decent grades. Of course, I speak of English, History, Psychology etc. majors who typically have degrees from schools with highly regarded reputations. Perhaps employer priorities have changed in recent times but many who hire a Liberal Arts B.A. want folks who can adapt, adjust, improvise and LEAD. The company will train you to give you expertise. This is particularly true in the business field where creativity and critical thinking counts.</p>
<p>Far more companies natioanlly want to hire people with some skills that they can plug into a function. They will fine tune the new person but the days of large scale training programs are pretty much gone. The business hiring from elite liberal arts schools is pretty much a creature of northeast traditions.</p>
<p>Uum, question: What's a CPA? What do they do, salaries, etc. Also, what do you guys think of double-majoring in finance/economics and psychology?</p>
<p>certified public accountant. it is quite possibly the most deathly boring job you can have.</p>
<p>haha, and all that trouble to get that job</p>
<p>It does pay pretty well--low mid six figures if you make partner at a major firm. Low risk of job loss.</p>
<p>It depends--particularly on the school you're attending and your chosen field.</p>
<p>Today, you really cannot go into accounting without an undergrad business major. The new CPA exam requirements are going to make it very hard for an economics major to go into accounting. Finance can be a toss up between economics and business.</p>
<p>Now, I'm getting a degree from the arts and sciences school and the business school at BU, so I've been through both curriculums, and I must say that there is no way a liberal arts degree can prepare you the way the business school here does for jobs right out of undergrad. The exposure to team work and technology is beyond anything I've done for my B.A. and the oral and written communication requirements are much more in depth. It's not that way at every school--it may be the reverse at some schools. Do your research and try to find out what recruiters in your area are looking for.</p>
<p>Some schools, like Harvard, choose to nix undergrad business and feel the a liberal arts degree with an MBA prepares people better for managerial positions--which is fine. That's ONE path to an upper level managment job. Another is to start right out of undergrad--with a business degree--and work in something like accounting and develop those skills on the job. If you're good, you'll work you're way up, get your MBA and be in a similar position. </p>
<p>As for salary for CPAs...the average salary offer for undergrad business majors (with accounting concentrations) at my schools was $48,000 if you're working in Boston. Passing the CPA exam after graduation should net you an extra $2,000.</p>
<p>"It does pay pretty well--low mid six figures if you make partner at a major firm. Low risk of job loss."</p>
<p>Hmm...not a really intelligent statement. It's like saying...Working as a maid pays extremely well because some may work for Bill Gates. Generally speaking i wouldn't think a CPA would make no where near what you are saying, and when you say little risk of job loss you are COMPLETELY wrong. Alot of accounting type jobs are going overseas.</p>
<p>[flame edited out by JEM] Most accounting majors from good schools go to the major firms. They are hiring like crazy and have never had layoffs [rude comment edited out by JEM] It's much easier to make partner level in accting than law and IB other such fields.</p>
<p>I was just reading that accounting jobs are the fastest growing careers in the US, especially after the Enron debacle. My son is majoring in accounting with no fabulous GPA to speak of. However, he has had all kinds of great offers for internships each year. He can get a good job right now if he wants it. </p>
<p>As far as partners go, the partners in big to midsize accounting firms make 7 figure incomes! I know because I used to do tax returns for people like that when I worked for Deloitte Touche. Even a partner in a small but busy firm can easily net out over $250,000.</p>
<p>Yeah they start off well but don't see much salary increase. they don't get the big bonuses like finance guys do. not to mention the work is dreadfully boring and unfulfilling.</p>
<p>First of all, accouting definitely has excellent job security--as mentioned, public accounting firms (usually your first job) are on a hiring spree, and 3-5 years in public accounting experience is EXTREMELY sought after. A CPA with that experience has a lot of options in terms of fields to transfer to. Once you hit the 3-5 mark, you will see a large jump in salary whether or not you stay in public accounting.</p>
<p>Secondly, YOU may find the work dreadfully boring and unfullfilling...but that doesn't mean everyone does. Sort of a ridiculous thing to say. Half of the job involves traveling and interacting with people.</p>
<p>Third, everyone I've spoken to has said that 9-13 years in public accounting will usually land you in a partner position and will usually pay at least $250,000.</p>
<p>Fourth, we're talking about public accounting, which requires a US certification. It can't go overseas!!!!</p>
<p>Fifth, yes, finance does have higher potential in terms of salary. But a good salary and those famed bonuses are far from guaranteed...</p>
<p>"Secondly, YOU may find the work dreadfully boring and unfullfilling...but that doesn't mean everyone does. Sort of a ridiculous thing to say. Half of the job involves traveling and interacting with people."</p>
<p>Not to be rude, but everyone I've ever known who was involved in accounting said it was the most boring profession imaginable. Even if you travel, staring and balancing statements all day is not interesting.</p>
<p>"Third, everyone I've spoken to has said that 9-13 years in public accounting will usually land you in a partner position and will usually pay at least $250,000."</p>
<p>Thats worse than any major profession (law, finance,medicine), I don't see how thats so great.</p>
<p>"Even if you travel, staring and balancing statements all day is not interesting."</p>
<p>This statement makes me question what kind of accountants you are talking to, as there is not "if you travel" in public accounting--you definitely travel and you travel a lot. Additonally, you don't balance statements--that's what bookeepers do. Public accounting involves auditing/assurance, tax services and consulting. None of those involve sitting around all day staring.</p>
<p>"Thats worse than any major profession (law, finance,medicine), I don't see how thats so great."</p>
<p>That's a ridiculous comparison--law and medicine require graduate degrees. $250,000 is also a minimum--the number can also be over half a million at large firms. And, again, we're talking a somewhat guaranteed number--do you really think that all finance majors make $250,000 after 10 years? If you do, I have bridge...</p>
<p>"This statement makes me question what kind of accountants you are talking to, as there is not "if you travel" in public accounting--you definitely travel and you travel a lot. Additonally, you don't balance statements--that's what bookeepers do. Public accounting involves auditing/assurance, tax services and consulting. None of those involve sitting around all day staring."</p>
<p>I even looked on Deloitte's site. It looks like they do pretty much what I thought. It's boring work to anyone</p>
<p>The average doctor and lawyer makes far less than $250,000. [comment edited out by JEM] Sure Park Ave doctors and some specialists make lots of money but many more have seen their incomes falling as insurance companies refuse to pay higher fees.</p>
<p>To say that accounting is dreadfully boring is just ignorant. Yes, it can be to some people. However, accountants are found in many fields of endeavor such as consulting, computer work, auditing, tax planning, and even writing and lecturing, which is my niche. Moreover, the newest area, and one in big demand, is forensic accounting, where accountants look for fraud or investigate fraud, which can be very interesting and is in HUGE demand. </p>
<p>In addition, accountants are found with increasing frequency in upper level management as well.</p>
<p>Admittedly, accountants don't get the huge bonuses that can be seen with some investment bankers, which actually involves jobs that are very hard to get and are very rare. However, accounting isn't as stressfull, for the most part, and if you are good at what you do, you have a lot of job security. I know of very few accountant, who are good at what they do, that are unemployed. I have met a bunch of finance folks out of jobs from time to time.</p>
<p>Finally, most competant accountants, are not poor folks. They live a very nice lifestyle, as with many top professionals.</p>
<p>I second Taxguy's EXCELLENT advice about the importance of good writing skills for business majors. </p>
<p>It is SO true -- if you can write (not just the standard five-paragraph essay of BS you think the teacher wants to hear, including the standard "filler" words, topic sentences that are plugged in because they are "supposed" to be there, etc.) but if you can REALLY write, think critically, communicate in a real-world, responsive manner, you will stand out and be noticed.</p>
<p>Maybe I'm biased because I went to Wharton... but I completely feel that it's worth it, and I don't even work in business.</p>