I am very interested in accounting and currently pursuing a degree in it. I know that it is profitable, but how profitable. Is it profitable to where I can live in a million dollar home in a million dollar neighborhood, or is it profitable to the extent where I live in a nice home in a middle class neighborhood. I am very ambitious so do I need to acquire other degrees like a law degree or a mba to make the most of it. I also have an interest in law so would it be o.k to get some kind of law degree in graduate school or something else instead so I can make the max in terms of income?
2007-03-13 15:49:11 · 4 answers · asked by jetsetter 1 in Business & Finance ➔ Careers & Employment
If you're as ambitious as you hint, (a) further degree(s) are essential!
With a basic degree in accounting, it would take a few years of work to get a decent middle class salary. With law school, a corporate position catapults you to above average on the middle class scene [think $160K-plus for NYC - entry level 2007]. You can leverage your Accounting degree with a concentration in Taxation, if that appeals to you. You may also stick with mainstream corporate/financing structures or regulaton and compliance. With an MBA, you can begin in Investment banking or consulting for the same salary level as the Law Associate, factoring in excellent bonuses and upward mobility in real terms.
A basic degree in Accounting is not very competitive without a few years of experience. And even then, you will realize that you'll need the added education to progress at work. With additional professional skills or education, your horizon begins to look better - both at entry level and from a career perspective.
2007-03-13 16:09:32 · answer #1 · answered by plancks.constant 3 · 0⤊ 0⤋
I work in accounting and I can say it's a very good career choice. No matter where you go, everyone has something to do with accounting with any business.
As far as pay goes, it depends on who you ask and where. I work in a non profit museum, as part time, and I make $9 an hour (no degree). I know someone who works for a CPA, she's got a bachelors degree and makes close to $80,000 a year. So yes, you can have it both ways.
As far as schooling goes, definately a degree in accounting or even business management are a plus. Law? Maybe, but not required. Talk to your school councelor for your options and decisions, that's what they are there for.
2007-03-13 22:59:10 · answer #2 · answered by DH 7 · 0⤊ 0⤋
Corporate finance can be very lucritive. If you work your way up the food chain, starting as an accountant, you could end up the Chief Financial Officer/Company Secretary etc. Depending on the company, yes, you could be living in a million dollar mansion, and CEO/Company Directors tend to be previous CFO's. If you decide to do tax refunds and the like then you will be earning considerably less, but still in the area of around $50K+.
2007-03-13 23:08:21 · answer #3 · answered by Sarcasma 5 · 0⤊ 0⤋
It can be very lucrative, just ask the CFO of Enron --- oh yeah, he is in jail --- may have to waite on that.
2007-03-13 22:54:15 · answer #4 · answered by daddyspanksalot 5 · 0⤊ 0⤋