Here’s Why An Accounting Degree is Worth It

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There's a lot of people out there that think accounting degrees will become worthless in the near future

They think this because it's estimated that the work of an accountant will be automated in the near future

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I looked into this and evaluated this college degree which has always been a good option

I looked into the salary, job satisfaction, future growth, and x factors and evaluated the degree

I found that it's still a really good option and here's why

These videos are for educational and entertainment purposes only. I am not an attorney, CPA, insurance, or financial advisor and the information presented shall not be construed as tax, legal, insurance, safety or financial advice. If stocks or companies are mentioned, Shane might have an ownership interest in them. Please don’t make buying or selling decisions based on Shane’s videos. If you need such advice, please contact the qualified legal or financial professionals, not the opinion of a stranger on the internet.

Sources and further readings:
payscale(provides information on jobs and degrees)

[ShaneHummus]

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[ericlopez]

“not a lot of human interaction” COUNT ME IN 😄

[kolkena]

My sister-in-law got her master's degree in accounting and she's a tax accountant. She works from home and her clientele consist mainly of people in her town. It's a great career choice for someone who wants to earn income while having flexible hours so you can focus on watching kids, etc.

[codycrofoot]

Having just graduated with an accounting degree I think there are a few more details that it is important for people to be aware. The first is that a lot of Accounting jobs require the CPA designation, especially a lot of the ones the are higher paying later on. The qualifications for this varies by state but typically requires you to get a Masters in Accounting or to take enough classes. I think it is important to realize that if you are going into accounting that you factor in whether or not you want to get a Masters. I would say that a lot of the statistics you shared about accounting salaries also include those who got masters. You can be successful without it but there is definitely a bias and expectation within a lot of companies that you will get a CPA and Masters if you want to move to the higher positions within companies. These positions tend to be more interesting and strategic than the base accounting positions. A thing I liked about the video is that you covered the breadth of paths you can go with an accounting degree. Most people assume taxes and/or bookkeeping. The degree is much broader than that and a good understanding of the language of business can prepare you well for most paths in business. I would say a benefit of accounting that it is relatively easy to transfer from accounting to another field, say finance, but it is not as easy to go from any other field into the more technical accounting positions. You really are hedging your chances for opportunities to find a career you like with an accounting degree. If you do want to make a transition you will just need to be able to communicate that interest and effectively explain the value of an accounting knowledge in any position. I would also say that the typical bookkeeping jobs and the really boring jobs that people typically associate with accounting can often be filled with people who did not actually get an accounting degree. I helped audit many companies and this seemed to be the case with many of the people I associated with. You may start off in such a position but those with an accounting degree definitely are the ones who move on to different positions than what people typically think of accounting. It is these base accounting positions that I think are most at risk of automation but since they are not the jobs those with accounting degrees are going for in the long run I think the risk of automation is not quite what we think. We will still need people to be able to interpret and check financial sheets and keep everything in accordance with GAAP or whatever accounting standards. If anything a lot of automation is taking out the boring aspect of the job and allowing accountants to work on the more interesting aspects of the job. Those in bookkeeping positions without a degree may be at risk but if you get a degree (and especially a CPA and/or experience with a good firm) then you will have plenty of opportunity for employment. Anyways those are my thoughts, I would be happy to talk with anyone with any other questions. Great video and content.

[salemengineer]

For what it's worth... One of my uncles is a successful accountant with his own practice. I was sitting next to him at a family gathering a while back and, to make conversation, starting asking him about his job. He went on a ten minute diatribe about how boring his job was and how much he'd wished he had gone into some other field. I was rather taken aback but I asked him why he'd never changed fields and his response was that it paid well and that once he had family responsibilities he felt changing fields would be too risky. Just one anecdote, obviously. And perhaps there are ways to make accounting more interesting. I have always thought forensic accounting (i.e. tracking down fraud, embezzlement, etc.) might be rather interesting.

[yunayo]

I just graduated and my biggest advice is that you HAVE to get an internship while you are a student and take the CPA ASAP because it is easier when you are about to finish or fresh out of school.

[richardk]

Just graduated with an accounting degree with an emphasis in data analytics/information systems and got an offer from one of the big4 (Deloitte) with a starting base salary of 70k USD + 5k signing bonus.
Reasons why I pursued accounting: Job Security, Prestige, Career flexibility, and the perceived value from employer.
Finishing this degree wasn't easy. It took a lot of effort and endless studying just like any other STEM degrees like math, engineering, etc. BUT IT IS WORTH IT! I recommend others to pursue this major since it is recession proof. (Auditors/Tax/Accounting are still needed by public companies because it's required by law [SEC Filing])

And those who think accountants and auditors will be automated by AI and YES that is true BUT... NOT ALL TASKS ARE AUTOMATED! Simple mundane tasks are automated such as data entries, posting transactions from invoices into a computer system/general ledgers, etc. and what is left are complex problems and accounting issues that requires a person with an accounting background to analyze the situation and produce appropriate solutions which AI CANNOT AUTOMATE (critical thinking involved).

[thespiderexterminator]

Respect to this guy always giving people what they request to see.. You earn my "Like" everytime!

[wfqsfg]

I retired from accounting. Almost 40 years in the business. My advice is make sure this is what you want to do. Long hours, continuous learning, time demands, stress. I'm not sure I would do it again if I had the chance. Lots of pressure and stress. If you are in public accounting then super long hours during tax season. If you work for private then end of month could be a week of 12-15 hour days. End of year will be long hours then an audit. Make sure this is what you want to do.

[andersoncosta]

Solid analysis Shane 👍! I've never imagined myself working as an accountant, but ... to have a "Those Degree Worth It" playlist in such a quality about all the careers you analyse in this channel would make you unbeatable!

[belllllsss]

I hate it when I tell people I’m doing a business major and they just assume it’s easy, when I am specializing in accounting and it’s hardest thing I’ve ever done

[eman]

If you’re going into accounting, then you need to get your CPA, which is very rigorous. It’s not totally required to have a successful career, however it’s extremely beneficial when working in public and industry. Also, the tasks that higher level accountants and CPAs do will not be automated for a very long time. If that ever happens, then all professions are screwed

[maccheese]

Your videos are so underrated. You've put a lot of things into perspective for me.

[nailaf]

As an accounting graduate, I cant agree more with this video

High school science student, I got into top accounting major (my 2nd choice in Indonesian public uni exam) as I missed the med schoool. I found accounting to be tedious and uni life was a struggle. Nearly quit but knowing my seat was coveted and taxpayers subsidized my education, I labored on.

After graduating I find the high flexibility of having accounting degree. I first went into business journalism as the "numbers geek" and thrived. My accounting friends were in so many different roles and got job relatively quickly (it was in 1999-2000 in the aftermath of Asian financial crisis so job market was really tough).

I then realized i lean towards investments, so I took local investment credentials, then CFA exams and others. Now in investment sevices industry. My friends became public accountants and took CPA, others in management, taking further MAcc/MBA in accounting.

One thing you cant take lightly: it helps your personal finance. I notice accounting/finance graduates in my enlarged family tend to have high earnings AND good personal investments, run by themselves. Latter part is more important than the first.

[aaeryngonzalez]

Well, I can see the high demand for accountants is something distinctive for this career in many countries. Here in Uruguay, accounting is one of the most demanded and highest-paying jobs... Great video!!

[larahporter]

Accounting is the language of any business. All business numbers start and end with Accounting. Even Finance cannot do anything w/o the accounting data (financial statements). Do you wanna really understand a business? Accounting. No sugar coating.

[Liam]

I am a Respiratory Therapist going into Accounting. I love the combination and being able to work in both. I would say that RTs make a bit more than what is in the video, but that was three years ago. A healthcare person can bring great communication skills into the area of accounting. As far as automation replacing accountants, I heard a great quote....Onlly Accountants not using automation will be replaced with accountants that do.

[tosin]

i was really doubting my decision to be a pre-accounting major but i’m so glad for the timing of this video🙏🏾i also plan on double majoring with information sciences to give myself an edge

[sbombfitness]

Currently in my 2nd year of majoring in economics at community college, and am planning on transferring to UC Santa Barbara next year for Economics and Accounting (double major). It's a pretty chill and easy degree so far, and hope I can make the big bucks after I graduate 🎓 I enjoy things related to business so I think I'll enjoy my career

[decklanhartzenberg]

Thank you for making an accounting video. In gonna subscribe just for this. Thank you again.