Accounting vs. Finance as a degree?

[agro]

my son in law is considering on doing a post-graduate degree in either accounting on finance, yet is having difficulty deciding which to do.

I think the job demand for accountants is greater yet finance related offer higher salaries but less demand (shorter supply, more people need accountants)?

he already holds a degree in science, so it is a 2 year postgraduate degree if that means anything

can someone offer insight. thanks.

 

[wayneL]

Re: Accounting vs Finance as a Degree

my son in law is considering on doing a post-graduate degree in either accounting on finance, yet is having difficulty deciding which to do.

I think the job demand for accountants is greater yet finance related offer higher salaries but less demand (shorter supply, more people need accountants)?

he already holds a degree in science, so it is a 2 year postgraduate degree if that means anything

can someone offer insight. thanks.

There may be a contraction in the demand for finance jobs. FWIW

Just a thought, but please DYOR.

 

[agro]

Re: Accounting vs Finance as a Degree

There may be a contraction in the demand for finance jobs. FWIW

Just a thought, but please DYOR.

i didn't understand that?
more people require accountants than stock brokers

 

[Sean K]

Re: Accounting vs Finance as a Degree

There may be a contraction in the demand for finance jobs. FWIW

Just a thought, but please DYOR.

But don't do a taxi driving degree because there's going to be a massive oversupply shortly.



I think it may depend on what you son-in law wants to do after, or what their personality/skill set is.

Perhaps accountants and financiers could list the personality traits of either to see where he sits.

 

[agro]

Re: Accounting vs Finance as a Degree

But don't do a taxi driving degree because there's going to be a massive oversupply shortly.



I think it may depend on what you son-in law wants to do after, or what their personality/skill set is.

Perhaps accountants and financiers could list the personality traits of either to see where he sits.

true
he is keen on both but needs to know the employment outlook
no point getting a piece of paper that means nothing

edit - is it also true most people who hole finance jobs have are CPAs

 

[nizar]

Re: Accounting vs Finance as a Degree

But don't do a taxi driving degree because there's going to be a massive oversupply shortly.

LOL, i tend to agree!

 

[Sean K]

Re: Accounting vs Finance as a Degree

true
he is keen on both but needs to know the employment outlook
no point getting a piece of paper that means nothing

But still depends on what he's suited to. If you want a career in something you're crap at, or don't like, then what's the point? You'll end up failing anyway.

You can make money out of anything if you have passion and are good at it.

 

[Prospector]

Re: Accounting vs Finance as a Degree

My son is about to do a concurrent degree in Accounting and Finance, (undergrad) and then specialise in Business Finance.

I assume your SIL has an Accounting Undergrad degree? No, I see he has a Science degree. OK, then I think he would need to do Accounting first - because the Science degree wouldn't really count in Financial circles, and finance without the Accounting context doesnt seem to me to have all the necessary components.

 

[agro]

Re: Accounting vs Finance as a Degree

My son is about to do a concurrent degree in Accounting and Finance, (undergrad) and then specialise in Business Finance.

I assume your SIL has an Accounting Undergrad degree? No, I see he has a Science degree. OK, then I think he would need to do Accounting first - because the Science degree wouldn't really count in Financial circles, and finance without the Accounting context doesnt seem to me to have all the necessary components.

no need to do another 3 years bachelor i was told,

2 year postgraduate masters is sufficient ?

 

[TheRage]

Re: Accounting vs Finance as a Degree

My son is about to do a concurrent degree in Accounting and Finance, (undergrad) and then specialise in Business Finance.

I assume your SIL has an Accounting Undergrad degree? No, I see he has a Science degree. OK, then I think he would need to do Accounting first - because the Science degree wouldn't really count in Financial circles, and finance without the Accounting context doesnt seem to me to have all the necessary components.

Actually Post grad in Finance with Science background can offer opportunities. For instance working as a Analyst who's portfolio is biotechnology related.

 

[doctorj]

Re: Accounting vs Finance as a Degree

my son in law is considering on doing a post-graduate degree in either accounting on finance, yet is having difficulty deciding which to do.

There is always going to be more need for accountants than finance folk. My first advice would be to do some research and pick what ever he finds more interesting.

That said, the combination of a science (with a lot of mathematics presumably?) degree and science may give him a competitive advantage. The finance world is just about all quantitative these days and a common path 'in' is often through maths, engineering or physics. Straight finance guys may find it difficult to get jobs with banks these days.

Or, if he really thinks we're nearing the financial apocolypse, could always do the accounting and become a toecutter.

 

[agro]

Re: Accounting vs Finance as a Degree

There is always going to be more need for accountants than finance folk. My first advice would be to do some research and pick what ever he finds more interesting.

That said, the combination of a science (with a lot of mathematics presumably?) degree and science may give him a competitive advantage. The finance world is just about all quantitative these days and a common path 'in' is often through maths, engineering or physics. Straight finance guys may find it difficult to get jobs with banks these days.

Or, if he really thinks we're nearing the financial apocolypse, could always do the accounting and become a toecutter.

not to mention specialties other than what the employer is looking for

 

[ASK]

Re: Accounting vs Finance as a degree?

Or, if your son-in law is really that unsure maybe he sould take another under grad degree. Im looking at a double degree in accounting/ banking ans finance at monash. Maybe you should have a look at that??

heres the link http://www.monash.edu.au/study/coursefinder/course/1333/

 

[wayneL]

Re: Accounting vs Finance as a Degree

i didn't understand that?
more people require accountants than stock brokers

I'm saying finance jobs might be hard to get for a while.

Just an opinion with no basis in research.

 

[2BAD4U]

Re: Accounting vs Finance as a degree?

I'm currently doing a postgrad finance degree and my reasons were simply:
1. It was relevant to my current line of work
2. It was relevant to what I do outside of work (investing in shares and property)

But for me the key thing is I am not looking to change career (at this stage ) however if I was looking for a career change I would definitely do the accounting degree as there are better job prospects. That's my

Also I think alot of the units are common to both so perhaps he could change course if he prefers one to the other. There was a guy in my course who did that because he preferred the accounting side.

 

[Robb]

Re: Accounting vs Finance as a degree?

He could also consider doing an economics degree, and major in a finance stream?

I am not sure what other universities are like, but I study at ANU, doing a double degree of Becon and Bcom. I am going to change it to a double of Becon and Bfinance this year though, since I am majoring in finance with my commerce degree, and only need a few more stats classes to do a finance degree instead.
At the ANU, you can do a Bacherlor of Commerce and do a double major, one in finance and one in Accounting. You will complete all necessary courses for CPA/CA entry, and do the core finance courses (minus a few of the stats) this would give you a pretty rounded education in both areas.
I am choosing to drop the accounting side and just do a straight finance degree, as i find it a bit dry and boring, and prefer the economics and finance side of commerce. It really will depend on his preference though.

Another problem I have is how to transfer from doing my degree onto getting a job at a bank, through an internship, summer school etc. My grades arent fantastic, but i have been working full time in IT during my study. It just seems very competitive, as expected. I think with an accounting degree you are more likely to be able to get a job?

 

[doctorj]

Re: Accounting vs Finance as a degree?

Another problem I have is how to transfer from doing my degree onto getting a job at a bank, through an internship, summer school etc. My grades arent fantastic, but i have been working full time in IT during my study. It just seems very competitive, as expected. I think with an accounting degree you are more likely to be able to get a job?

Yup, accounting jobs are almost a dime a dozen.

Entry into banks is very competitive. Based on what you're studying, you have a choice of two mainpaths, either through an internship program or post qualification at any of the big 4 .

If you take the big-4 path, transaction advisory, particularly valuations, or audit are the best accounting-related areas for those hoping to transition to a bank.

These days, non-accounting graduates will be taken in by the big 4 and you will be able to sit the CA, but you may need to do a bridging course.

 

[Broadside]

Re: Accounting vs Finance as a degree?

he should do what interests him most and let the cards fall where they may. Too hard to predict future job market but yes there are more opportunities in accounting generally. If his background is science and he is strong in maths then some of the tougher finance subjects he should take in his stride, accounting doesn't take much mathematical ability. I majored in both but I dislike accounting.

 

[AngusM]

Re: Accounting vs Finance as a degree?

Depends on his personality and risk profile... Accounting if he is more conservative, likes security. Finance has a much bigger upside but less job security and higher burnout rate.

 

[reece55]

Re: Accounting vs Finance as a Degree

My son is about to do a concurrent degree in Accounting and Finance, (undergrad) and then specialise in Business Finance.

I assume your SIL has an Accounting Undergrad degree? No, I see he has a Science degree. OK, then I think he would need to do Accounting first - because the Science degree wouldn't really count in Financial circles, and finance without the Accounting context doesnt seem to me to have all the necessary components.

Well, it is actually possible to qualify for the CA/CPA and still major in finance, last time I checked..........

I would always say keep your doors open... I think of accounting as my bread and butter and finance as the cream..... I consult to listed entities in an accounting capacity for my regular income, but I also perform business valuations and structure/financial advice in between. At the end of it, the fundamental string is the debits and credits (for the accounting minded out there)....... learn accounting and the rest is an extension with a bit more math, just my opinion though.....

One thing I would say as a final note is that finance grads are a dime a dozen... lots to say, but there not keen on getting dirty... I think Wayne is right, it will be tighter going forward for those with just a finance background.

Cheers