Yes, I am well aware that it takes much more than education to get you to the top. I just want to know which of these two gives you a head start and helps you handle a larger amount of the company better.
cunningham,
I specifically added that first sentence in the details so that I wouldn’t get obvious statements like that.
Which business major has better prospects for upper management: finance or accounting?
August 17th, 2010 by Leave a reply »
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I think finance is more respected than accounting. I don’t think accountants are perceived as adding value to the company because a lot of accounting jobs wouldn’t exist without government regulation.
I would argue that a finance degree is held in higher regard. However, I’d also like to stress that just having a degree doesn’t qualify someone for a CFO or CEO-level position. That takes a special kind of person, not just a special kind of degree.
I guess it depends on what you mean by “upper management.” Accounting firms have upper management, as do fortune 500 companies, as do banks. Some upper managers are high school dropouts who started their own companies and are just really good at sales and business.
I’d say that either major has potential. If you are thinking of becoming a CEO or something, I remember being told in my entry-level accounting classes that like 33% of all CEOs had their degree in accouting, and I am sure a comparable percentage had their degree in Finance.
I don’t think that either major would be better for upper management than the other. It’s all a matter of getting experience that is catered toward where you intend to end up. For example, if you really like a particular industry, you can read up on that industry and work within that industry, and become an “expert” within that field.
I agree with The Real Deal.
I think either degree is viable for a upper management position. But I am bias to a degree in accounting.
I work for a public accounting firm and every business needs an accountant – whether for taxes, audit, financial planning, etc.
A CPA (Accounting degree with an Additional 30 credit hours and sitting for an exam that is very difficult and expensive [which most don't pass the first time] can get to upper management fairly quickly and make substantial money in the process in a public accounting setting. We have Managers and Senior Managers at our firm that have been there just after sitting for the CPA and after 5 years are making 6 figures. Most CFO’s have their degree in accounting and their CPA. Controllers of company’s also have similar credentials.
If you were considering this degree to work in the public or private sector it would be very well suited for you. Getting your CPA is only one year from your masters (since you have to take a 5th year to even sit for the CPA exam) An accounting degree with your CPA license is very well respected and it is not an easy degree/license to obtain.