Key Takeaways:
- Graduates with a bachelor’s in accounting and financial analysis have a variety of career opportunities, including traditional and emerging accounting careers.
- A bachelor’s in accounting is a fantastic investment in your future, with a strong return-on-investment due to a growing employment rate and transferable skills.
When it comes to what to do with an accounting degree, your first thought is probably tax preparation at private firms or major chains. While tax preparation is a great career opportunity, it isn’t the only option for an accounting major’s career goals. Professionals with a bachelor’s in accounting have access to an array of dynamic, high-impact careers in addition to the traditional CPA track.
In addition, a traditional accounting major isn’t even the only option when it comes to education. Professionals seeking a bachelor’s in a business field can consider programs that combine accounting with other areas to uncover even more career opportunities, such as California Lutheran University’s BS in Accounting and Financial Analysis.
What Can You Do With a Bachelor’s in Accounting?
The future is looking brighter than ever for accounting professionals, with 2024 research showing a 74% increase in accounting hiring and a 15% increase in the annual salary for accountants. These increases have outpaced many other fields, including jobs that have led economic growth in previous years, such as software engineering.
While there are a variety of factors that likely contributed to these increases, some of the most impactful are:
1. Global talent shortages: There are not enough people with accounting degrees to fill the roles that benefit from or require advanced accounting education.
2. Complex regulations: With constantly changing rules and increasing economic uncertainty, more organizations are turning to experts rather than generalists for accounting, taxation and compliance support.
Cal Lutheran’s Bachelor’s Degree for Professionals program is flexibly designed for working adults and lifelong learners who already have some college credits. This program empowers professionals to complete their bachelor’s and advance their careers. To learn more about how a bachelor’s degree can benefit you, read our article.
Traditional Accounting Career Paths
If you’re considering an accounting degree, whether you’re a recent high school graduate or a non-traditional student going back to school, it’s important to know that it’s a strong investment in your career and that the field of accounting is very stable.
Here are some of the most common jobs for people with accounting degrees:
| Job Title | Median Annual Salary | Job Description |
|---|---|---|
| Tax Preparer | $75,200 | From the largest businesses to single-adult households, everyone needs to file taxes. Tax preparation professionals help them make sure everything is done correctly and to their greatest benefit. |
| Auditor | $81,680 | These professionals focus on creating and examining financial records, usually for businesses. Their responsibilities often involve ensuring compliance, identifying risks and reporting financial information to company leadership. |
| Financial Accountant | $76,200 | This role focuses primarily on reporting financial information about an organization. The tasks involved may include tracking KPIs, analyzing financial data and contributing to the organization’s overall strategy. |
Source: Lightcast and U.S. Bureau of Labor Statistics
It’s also important to be aware that some of these paths might benefit (or even require) additional education, experience and credentials such as CPA licensure.
Emerging and Nontraditional Accounting Career Paths
Many people assume that professionals with accounting education can only be accountants, but that is not the case. A bachelor’s in accounting curriculum develops transferable skills and expertise that are relevant to a variety of different roles and industries, including:
- General business
- Finance
- Compliance
- Risk management
- Management and leadership
Here are some nontraditional career paths for accounting majors:
| Job Title | Median Annual Salary | Job Description |
|---|---|---|
| Financial Analyst | $101,910 | This area is a great opportunity for accounting professionals to focus on the nitty gritty of data: examining data, noticing patterns and providing recommendations to organizations about their financial strategy. |
| Business Strategy Consultant | $118,500 | For accounting majors who prefer looking at the big picture, this job could be a great career choice. It involves analyzing financial data (and other business operations) and then focusing on how the business’s overall strategy should adapt for the best outcomes. |
| Compliance Risk Manager | $142,100 | These professionals ensure a business’s financial decisions are compliant with relevant regulations. While risk can never be completely eliminated, compliance and risk managers help businesses take calculated risks where necessary or beneficial and avoid needless risks. |
| Financial Systems Analyst (Tech Industry) | $96,000 | While there are financial systems involved in nearly every industry, the tech industry involves several unique factors, such as SaaS recurring billing, strict data privacy regulations and often VC funding. |
| Finance Lead (Start-Up or Nonprofit) | $122,200 | This role can be a great fit for accounting majors who thrive in fast-paced environments. Because startups and nonprofits often operate with relatively small teams, these accounting professionals usually do a little bit of everything. |
Source: Lightcast and U.S. Bureau of Labor Statistics
As with traditional career paths, keep in mind that employers may require or prefer additional education and experience beyond an accounting degree.
Why Employers Aren’t Just Looking for CPAs
Beyond tax preparation, employers are looking for accountants who can be a part of the larger strategic direction of the finance department. Some skills that employers want their accountants to have are:
- Data Fluency: Being able to quickly review, understand and translate data into laypeople’s terms.
- Analytical Thinking: Not just seeing where things went wrong, but why and how to prevent it in the future.
- Informed Decision-Making: Evaluating multiple options and making decisions about financial next steps for the organization.
- Strategic Brainstorming: Collaborating across departments to develop strategies that will help each team achieve their goals.
- Technological Knowledge: Staying on top of the latest developments in financial technology, such as expense tracking systems, analytics tools and automation software.
In a modern age, where the job market is competitive and AI can complete certain job roles, professionals building careers with accounting degrees need to have expertise in a variety of areas, not just traditional accounting knowledge.
How an Accounting and Financial Analysis Degree Prepares You for Cross-Industry Impact
A bachelor’s degree in accounting and financial analysis combines accounting fundamentals with financial modeling, analytics and strategic decision-making, providing you with a powerful interdisciplinary tool kit that is in-demand across industries.
This degree path will help you to become an essential business partner for organizations of all sizes. You’ll be able to help companies not just understand their numbers, but infuse that knowledge into the strategic direction of the organization as a whole.
Demand Across Sectors
The versatile, but advanced, skill set is part of why professionals with accounting degrees are being hired across sectors and departments. Some of the industries and functions where accounting graduates are making an impact include:
- Corporate Finance: Reviewing, analyzing and communicating about a large corporation’s financial situation in the past, present and future.
- Investment & Asset Management: Managing portfolios for companies, nonprofits or wealthy individuals.
- Government & Nonprofits: Helping government organizations and NGOs manage their finances with projects like managing budgets, ensuring tax compliance and keeping track of risky investments.
- Tech & Startups: Often completing a broad variety of finance-related tasks, these roles are dynamic based on the needs of the company. Health Care and Energy: Supporting mission-driven organizations in helping people access resources, ensuring operational efficiency and driving growth.
Core Skills That Transfer Everywhere
There are several skills that students learn in an accounting degree program that can transfer to any role they take later on. Some of the most transferable skills that are taught in the Cal Lutheran BS in Accounting and Financial Analysis curriculum are:
- Financial modeling
- Risk analysis
- Regulatory compliance
- Strategic planning
Whether you’re already a seasoned professional or are just starting to explore where your career could take you, an accounting degree can be a great next step.
About the Bachelor’s Degree in Accounting and Financial Analysis Program at California Lutheran University
Continue your education and transform your career with our Bachelor’s Degree for Professionals, designed for working adults and lifelong learners with some college experience. This affordable degree completion program offers a focused major in accounting and financial analysis that teaches students to transform complex financial data into useful business insights. Students will gain crucial knowledge of accounting principles, business concepts, analytical abilities and interpersonal skills for effective collaboration.
Cal Lutheran’s School for Professional and Continuing Studies serves individuals who desire to grow educationally, personally and professionally. Our work is grounded in the assessment of students’ needs and expectations. We meet these individuals where they are in order to provide tailored programs and resources that will help them clarify and deepen their purpose so that they can transform their communities — and the world.
Download a program brochure or start your application for the Bachelor’s Degree for Professionals program.
