Is An Associates Degree in Accounting Worth It? Explore Accountant Careers & Salaries
Is an associates degree in accounting worth it? Explore salaries, job outlook, and industry growth rates to see if an accounting degree is the right choice for you.
Let’s take a closer look as to why enrolling in an associate’s accounting degree online may be the right decision for you. Every company, non-profit organization, and government agency needs accountants.
According to the Bureau of Labor Statistics, when you earn your associate’s degree in accounting online or on campus, you set yourself up to earn $52,830 per year. Plus, when you earn your associate’s degree in accounting online, you can enjoy the flexibility of completing your studies from the comfort of your own home!
With the option to earn your bachelor’s, you further increase your earning potential. So, earning an associate’s degree is worth it for many students.
What Makes an Associates in Accounting Worth It?
There are quite a few reasons why earning an associate’s in accounting may be beneficial. Your employability should be strengthened, and you stand to become a more attractive to prospect to employers looking to hire accounting-literate individuals.
Another welcome benefit of having an associate’s degree in accounting is the increase in earning potential. Having an associate’s degree in accounting may mean more than a hundred dollars more per week compared to those working with just a high school diploma.
Another advantage of earning this degree is that it only takes two years to complete, which ultimately means that you should be saving both time and money when compared to pursuing a 4 year degree.
Also, even when you’re enrolled, you can still hold a job because the schools that offer these courses tend to be flexible with their schedules.
Finally, one of the most important advantages of studying to earn your associate’s degree in accounting is that the credits should count toward a bachelor’s degree. So, if in the future you decide to get your bachelor’s degree in accounting, you’ll be able to shave off a year or two of studying.
Associate Degree in Accounting Jobs
Most of the associate degree in accounting jobs will most likely be entry-level. These same jobs can provide you with the means to work for companies that you wouldn’t otherwise be qualified to work for.
Some of the jobs in the accounting field include:
Accounting Assistant – Responsibilities will include some office duties, such as answering phones and direct client interaction. You’ll also handle bookkeeping, payroll, invoice collection, and other similar accounting duties.
Accounting Receivable Clerk – As an accounting receivable clerk, it will be your duty to track the income of your company with regard to payments received from sales. You will prepare and send invoices out to your organization’s clients. You will also be the one to handle deposits to the company’s bank account.
Bookkeeping or Auditing Clerk – As a bookkeeping/auditing clerk, you will manage your company’s financial records. This means that you will review the accuracy of your company’s cash flow, assets, and liabilities, bank statements, and transactions. You will then create reports on your findings.
Payroll Clerk – As a payroll clerk, you will be responsible for calculating and disbursing employee salary. You will have to keep accurate documentation of all transactions.
An associates in accounting usually provides the potential for good upward mobility in the accounting field beyond these starting positions.
Associates in Accounting Salary
Since the job titles that accountants hold with this associate’s degree are paraprofessional and career-focused, it stands to reason that there is a potential to earn more down the road with more experience and further education.
Please keep in mind that some employers look for a minimum of a bachelor’s degree to be considered for a few of these positions.
According to the Bureau of Labor Statistics, some careers in the accounting field include:
|Careers||Annual Median Salary|
|Administrative Services Managers||$96,940|
|Accountants and Auditors||$71,550|
|Purchasing Managers, Buyers, and Purchasing Agents||$69,600|
|Compensation, Benefits, and Job Analysis Specialists||$64,560|
|Payroll and Timekeeping Clerks||$46,180|
|Bookkeeping, Accounting, and Auditing Clerks||$41,230|
Further Education – How to Move Up in the Accounting Profession
After you get your associate’s degree in accounting, your next logical step would be to earn your bachelor’s degree in accounting.
Most companies have job vacancies open for accountants, and according to the Bureau of Labor Statistics, the demand for accountants is just going to keep on increasing. According to their figures, the demand for bachelor’s in accounting degree holders will increase by 10% until 2026.
Armed with this degree, you may also be eligible to switch to more growth-oriented lucrative careers.
You can earn your bachelor’s degree in about half the time it would take you had you enrolled in a 4 year degree right from the get-go. And, since most of the school’s schedules are flexible and accommodating for working students, you can work around your schedule with no problems.
Recommended Certification for Accountants
You can become a Certified Public Accountant or CPA after you pass the state CPA exam. All accountancy state boards require their candidate to hold a Bachelor’s Degree in Accountancy to qualify to take the CPA exam.
Also, take note that each state board acts independently of the other, meaning there is no universal CPA license. Essentially, if you want to practice within the borders of a specific state, then you need to be sanctioned by the state board of that particular state.
The CPA title should greatly boost your income earning capacity and your employability. As a CPA, you can open your own practice or consult for business clients.
Companies and financial firms also seek Certified Public Accountants to create financial plans, audit their financial records, or even manage their financial department.
The Association of International Certified Professional Accountants may also be a useful resource.
Accreditation for an Online Accounting Associates Degree
Regional accreditation is the self-regulation of colleges and universities to demonstrate that the degrees and credits that they award are up to standards. Regional accreditation is more meticulously rigid than national accreditation.
There is also programmatic accreditation available through these industry-specific boards:
Association to Advance Collegiate Schools of Business (AACSB) – has been around since 1916, and they have heralded the high standards of business education ever since. They currently have more than 1,700 organizations as members and over 840 business schools that are accredited worldwide.
Accreditation Council for Business Schools & Programs (ACBSP) – was founded in 1988, and they have been accrediting business degree programs at all levels ever since. To date, the ACBSP has accredited over 1,000 campuses around the world. An ACBSP accreditation indicates that an institution has achieved excellence in business education.
Assembly for Collegiate Business Education (IACBE) – was founded in 1997 and has been accrediting colleges and universities with business programs of all degree levels ever since. The IACBE currently has more than 230 member institutions in over 20 countries worldwide.
The best accounting programs will have both regional and programmatic accreditation.
Financial Aid for an Associates in Accounting Online
Students enrolled in an Associate’s Degree in Accounting program may be eligible for federal financial aid. Go to the official FAFSA website to fill out the Free Application for Federal Student Aid. There, you will learn whether you are eligible for a loan, a scholarship, or a grant.
You could also apply for college scholarships from your school and look for funding opportunities from private businesses and organizations looking to sponsor students.
Can I Be an Accountant With an Associate’s Degree?
While you can work in the accounting field after earning your associate’s degree, most accountants hold at least a bachelor’s degree.
With an associate’s degree, you should be qualified to work as an accounting assistant, bookkeeping clerk, auditing clerk, or in a similar position.
However, if you wish to be a full-fledged Certified Public Accountant (CPA), then you need to earn your bachelor’s degree in accounting after completing your associate’s degree. This shouldn’t be a problem since your associate degree should be credited toward earning your bachelor’s in accounting.
How Much Does an Accountant Make With an Associate’s Degree?
According to the Bureau of Labor Statistics, an employee with an associate’s degree in accounting may earn $52,830 per year.
The salary will depend on the company, the position of the employee, the number of years of experience as well as the expertise of the individual. Generally, the salary of a holder of an associate’s degree in accounting will be higher than employees with only a high school diploma.
The potential earnings may also increase since the associate degree opens up future employment opportunities and career growth.
What Can an Associate’s Degree in Accounting Get You?
If the question, is an associates degree in accounting worth anything is still ringing in your ears, then you will be happy to know that the answer is yes for many students.
An accounting associate degree should help you get your foot in the door at a number of companies. In addition to improving your job prospects, it may also lead to an increase in salary over a high school diploma.
You will also be about half-way toward a bachelor’s degree, which should open up more doors and earn you even larger paychecks.
I Have an Associates Degree in Accounting Now What?
After earning your associates degree in accounting, the next step is to apply for jobs in the field. Once you land a job and gain more experience in the field, your salary potential should increase.
It is also advisable to continue pursuing your bachelor’s degree in accounting after you get your associates degree since the salary is quite a bit higher for bachelor’s degree holders in this field. According to the Bureau of Labor Statistics, the average salary for those with a bachelor’s in accounting is $71,550. Impressive!
Remember that your associate degree is credited toward a bachelor’s degree, so in essence, you are already about half-way through your bachelor’s studies while you’re earning your associate’s in accounting degree.
How Long Does It Take To Get An Accounting Degree?
It takes about two years to earn an associate’s degree in accounting. To get a bachelor’s in accounting, it takes around 4 years, though you can finish in less time with accelerated courses.
How long it takes to get your accounting degree will depend mainly on how many classes you take each semester, if you have existing college credits, or if you enroll in accelerated classes.
Is an Associates Degree in Accounting Worth It?
Yes, an Associates Degree in Accounting is worth it for many students. With an average salary of $52,830 (Bureau of Labor Statistics), an associate degree in accounting can help you launch a career in this important field. Common accounting careers include accountant, bookkeeper, auditing clerk, and accounting specialist.
With an associate program in accounting, your earning potential may also be higher than the salaries of employees with only a high school education.
Once you get promoted or start at a company that you may have not been qualified for before, you’ll quickly realize that earning your associate’s degree in accounting was a positive step.
If you’re still wondering, is an accounting degree worth it, check out the career prospects of degree holders. In addition, an associate’s degree can bring you closer towards completing your bachelor’s degree, which could lead to a CPA title and a higher income.