Here’s Why An Accounting Degree is Worth It

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  • ℹ️ Description
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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)

💬 Comments
Author

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.

Author — Cody Crofoot

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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.

Author — Alex Kolkena

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

Author — Eric Lopez

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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.

Author — Yuna Yo

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I’m majoring in accounting because I love working with numbers and when people tell me what I’m majoring in I tell them accounting and they give me that face like your doing 4 years of college just to be an accountant like yes, yes I am ..I can’t wait to show them my success in a few years

Author — Les Looo

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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

Author — Belinda Nfuka

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Guys accountants are skilled workers like engineers and lawyers etc so you cannot automate skilled workers

Author — DALI MLAMBO

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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

Author — E Man

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

Author — The Spider Exterminator

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Just started summer classes for my bachelors in accounting and this reconfirmed my decision thank you

Author — Domonique Williams

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I am a CPA and I think AI is pretty over-hyped. When I worked in auditing we looked at the AI software on the market and what it could do was very limited. It wouldn't even be able to do much of the work of a brand new staff auditor. There are always predictions of how fast it will advance but in most areas those don't seem realistic. Self driving cars were supposed to already be happening but no one is close to getting self driving capabilities in all locations and conditions.

Author — DAVID FOUST

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As a finance major, Accounting is quite difficult and I don't expect them to automate it any time soon.

Author — Chandler Bartholomew

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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!!

Author — Aaeryn Gonzalez

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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

Author — tositoss

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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.

Author — Salem Engineer

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I only have one more semester for a bachelors in accounting and then will pursue a masters in accounting. The amount of weird looks I get when I say I study accounting is astounding.

Author — Kam Sivertsen

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

Author — Mac & Cheese

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The thing is if I like the video I'll forget that the like button is an option so when shane told me I remembered to liked😂

Also: hope you reach 50k subs soon

Author — Sia Prasad

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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!

Author — Anderson Costa

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Amazing content. Your content is so damn good Shane. Keep them coming. Also, please do a video about finance degree.

Author — Ashwin Kumar