Is an Online Accounting Degree Right for You

Is an Online Accounting Degree Right for You?

Apply By: 1/6/2021

Classes Start: 1/11/2021

Should you pursue an online degree in accounting?
April 15, 2020

What do you imagine an accounting career is like? For those on the fence, who like numbers but aren’t quite sure it’s a lifetime career, take note: This is a rewarding, business-dependent profession that goes way beyond a spreadsheet. And with the right bachelor’s degree, your opportunities are endless.

A growing, well-paid field
First, let’s talk job security. Professionals with an online bachelor’s in accounting degree can become accountants, auditors, financial analysts, financial planners and more – and the Bureau of Labor Statistics (BLS) projects about a 6% employment growth by 2028. This translates to nearly 91,000 new accountant/auditor positions and more than 20,000 new jobs for financial analysts. The growth rate for personal financial advisors is set at 7% with about 19,000 new jobs. 

Equally great news is that each of these professions is compensated well (also according to the BLS), with accountants and auditors earning a median salary of $70,500, financial analysts bringing in a median pay of $85,660, and financial advisors taking home a median salary of $88,890.

A mix of qualities
Job growth and pay are excellent considerations, but are you actually cut out for this field? Will you enjoy it? If any of the following are you, then you could very well be on the right track …

  • Numbers don’t scare you. Contrary to popular belief, you don’t have to be a wizard at math to excel in accounting, but you do need to know your way around a calculator. And when things add up (or subtract down) the way they’re supposed to, you get a sense of immense satisfaction.
  • Organizing gives you joy. You like columns and rows and things in their place. You have a creative side, too, and use numbers to paint a picture. A clean, well-organized spreadsheet that tells a clear financial story – well, does it really ever get better than that? 
  • You’re a bit of a perfectionist. Being able to give sound financial guidance, based on factual data, makes you proud (and also valued!). Drilling down on financial trends, historical data, and predicting fact-based outcomes all take a perfectionist mindset, determined to get things right. Your business depends on this information and that energizes you.

A field transformed
With some accounting functions now typically automated, accountants and financial advisors today play a strategic role in helping organizations and stakeholders understand financial data. Companies big and small strategically look for ways to operate more efficiently, cut costs and increase profits. They rely on professionals to do the analysis and organize complex financial data into easier to understand reports. These accounting experts hold the key to decision-making that drives company success. Those in the accounting field are not just number crunchers, but instead serve as trusted business advisors.

An accounting education
Earning an online accounting degree remains one of the best ways to land a job in this field. Those in the profession typically choose either a straight bachelor’s in accounting degree or a broader business degree with an accounting emphasis.  Peru State College Online, for instance, offers a Bachelor of Business Administration degree with an emphasis in Accounting that is popular among students who want to specialize in accounting but also like the breadth of choices that come with a business administration degree. Earning your degree online also provides the added benefits of convenience and flexibility to virtually study where and when it suits your schedule.

Many accounting grads also go on to pursue certified public accountant (CPA) licensure, which involves a mixture of education, experience and the CPA exam. Requirements vary per state, so you’ll want to do your homework if the CPA license is your ultimate goal.  

Your career door is wide open with an online accounting degree – up to your imagination and drive. Maybe you want to own your own business as a tax preparer. Or possibly there is an area of corporate finance that interests you, like managerial accounting or cost accounting, financial accounting and external reporting, or auditing or forensic accounting. The beauty of an accounting education lies in the choices you’ll have, and the critical insight you’ll bring to your chosen career. It blends language with numbers, preparing you to be an asset wherever you choose to land.

Interested in finding out more about what an online accounting degree can do for you? Peru State College Online offers a Bachelor of Business Administration in Accounting. Learn more here