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Beta Alpha Psi

Why Accounting? Is there work for me when I graduate? Am I going to make good money when I graduate? Who is hiring accounting graduates? Why Why Why!!!

How employable is accounting? What kind of stats are out there? I want proof that this degree is as good as some people think or say it is!

The Salisbury University "First Destination Survey" has some interesting data. This survey is conducted each year when students pick up their cap and gown in mid-May. The return rate is over 70-80%. Here are some interesting facts from the May, 2009 class:

Accounting employment rates:

  • 22 accounting majors responded to survey
  • 68.2% were employed full-time-one of the highest ft employment rate of any major
  • 9.1% employed part-time
  • 4.5% furthering their education
  • 18.2% not employed-one of the lowest of any major-remember this was taken prior to graduation

This is the summary of all majors employment rates:

  • 716 students responded to survey
  • 20.7% of all majors were employed full-time
  • 16.6% of al majors were employed part-time
  • 13.1% of all majors furthering their education
  • 46.9% of all majors still seeking employment

Accounting salary statistics:

  • 13 accounting students responded
  • $51,923 was the mean starting salary
  • $41,000 - $60,000 was the range

All majors salary statistics:

  • 99 students reported their salaries
  • $42,435 was the mean starting salary for all majors (nationwide it is roughly $39,000)
  • $12,500 - $62,000 was the range for all majors

Accounting job satisfaction:

  • 15 accounting students responded
  • 66.7% said they were very satisfied
  • 26.7% said they were satisfied
  • 0% said they were dissatisfied or very dissatisfied
  • 6.7% did not respond

All majors job satisfaction:

  • 148 total students responded
  • 48.6% said they were very satisfied
  • 27.7% said they were satisfied
  • 4.1% said the were neither satisfied nor dissatisfied
  • 0.7% said they were dissatisfied
  • 0.7% said they were very dissatisfied
  • 18.2% did not respond

Example employers:

  • Aarow Equipment and Services
  • Goodman and Company
  • Santos, Postal & Company
  • McGladrey & Pullen, LLP.
  • Mullen Sondberg Wimbish & Stone P. A.
  • Watkins, Meegan, Drury & Co
  • TRICE GEARY MYERS
  • KPMG LLP

Internships:

  • 66.7% of all accounting students did at least one internship
  • 33.5% of all majors did at least one internship
  • 33.3% of the accounting students did MORE than one internship
  • 6.3% of all majors did MORE than one internship

You can connect to SU's First Destination Survey by clicking here.

Click here for the Maryland Department of Labor and Licensing

  • Accounting was given an "A" on future job opening
  • They anticipate 9,015 openings

According to the U.S. Bureau of Labor Statistics employment of accountants and auditors is expected to grow faster than the average for all occupations through the year 2016.

Accountants have good job opportunities. This is because there will be new and changing laws that will increase the need for accountants; also, there will be more private companies that will need accountants. Accountants who have a lot of special skills, such as certified public accountants (CPAs) and certified management accountants, should have the easiest time finding a job.

From the CareerOneStop website which sponsored by the U. S. Department of Labor, Employment and Training Administration

10 Occupations with the Most Openings (occupation name and degree required)

  1. Postsecondary teachers - Doctoral degree
  2. Elementary school teachers, except special education - Bachelor's degree
  3. Accountants and auditors - Bachelor's degree
  4. General and operations managers - Bachelor's or higher degree, plus work experience
  5. Secondary school teachers, except special and vocational education - Bachelor's degree
  6. Computer software engineers, applications - Bachelor's degree
  7. Computer systems analysts - Bachelor's degree
  8. Management analysts - Bachelor's or higher degree, plus work experience
  9. Lawyers - First professional degree
  10. Middle school teachers, except special and vocational education - Bachelor's degree

Top 10 Occupations with the Largest Employment (occupation name, # employed and degree required)

  1. General and operations managers -1,720,500 -Bachelor's or higher degree, plus work experience
  2. Postsecondary teachers- 1,671,800 -Doctoral degree
  3. Elementary school teachers, except special education-1,540,200- Bachelor's degree
  4. Accountants and auditors -1,274,400- Bachelor's degree
  5. Secondary school teachers, except special and vocational education- 1,037,500 -Bachelor's degree
  6. Lawyers- 760,700 -First professional degree
  7. Management analysts- 678,200- Bachelor's or higher degree, plus work experience
  8. Middle school teachers, except special and vocational education- 658,100 -Bachelor's degree
  9. Physicians and surgeons- 633,300- First professional degree
  10. Computer software engineers, applications- 506,800- Bachelor's degree

MD and national salary comparisons for accountants

Location Pay
Period
2008
10% 25% Median 75% 90%
United States Hourly $17.66 $22.07 $28.57 $37.60 $49.22
Yearly $36,700 $45,900 $59,400 $78,200 $102,400
Maryland Hourly $19.73 $24.58 $31.60 $41.19 $54.44
Yearly $41,000 $51,100 $65,700 $85,700 $113,200

From CollegGrad.com and the Bureau of Labor Statistics

Employment & Outlook

Generally accountants and auditors work in government and private business, with about 21 percent employed in accounting, tax preparation, bookkeeping, and payroll services. Other popular industries include management of companies and enterprises, local and state government, and insurance carriers.

Employment opportunities for accountants and auditors are expected to grow faster than the average for all occupations in the coming years. Career growth is expected at 18 percent through 2016, adding 226,000 jobs to the industry.

Accountant & Auditor Salary Information

Mean annual wages for accountants and auditors were $63,180 in 2008, according to the Bureau of Labor Statistics. Top-paying industries include the federal government, with annual mean wages of $81,570, and security and commodity contracts intermediation and brokerage firms paying annual mean wages of $77,510. Areas with the highest concentration of accountants and auditors include the District of Columbia, Colorado, Delaware, and New York.

NACE-National Association of Colleges and Employers

Summer 2009-As a group, graduates with bachelorís degrees in the business disciplines saw their average offer nudge up less than 1 percent to $47,239. Accounting majors did better than the average, and posted a 1.9 percent increase for an average offer of $48,993.

NACE Spring 2010 Job Outlook-hot off the presses! - came out on Feb. 9, 2010

College Hiring Outlook: Fewer Jobs for Class of 2010-Employers say theyíll cut new college grad hires by 7 percent.

Top Majors

Overall, at the bachelorís degree level, business, engineering, and technical majors are of most interest to employers this year, while at the masterís level, M.B.A.s , followed by engineering degrees, are of most interest. At the doctorate level, engineering and computer science top the list.

In general, interest at the bachelorís degree level is being driven by employers in government and finance.

Top 5 Majors by Region:

Northeast Midwest Southeast West
Accounting Finance Electrical Eng. Mechanical Eng.
Finance Accounting Mechanical Eng. Finance
Business Admin/Mgt. Business Admin/Mgt. Computer Eng. Electrical Eng.
Economics Mechanical Eng. Computer Science Accounting
Mechanical Eng. Computer Science Finance Business Admin/Mgt.

Source: Job Outlook 2010, National Association of Colleges and Employers. Data are for bachelorís degree graduates.

  • Click here for entire article.
  • Click here for Student Review-Salaries by major
  • iSeek Careers - Click here to see employment outlook and salaries for accounting majors

(Katie Bauer-president)-spring 2010

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