Can I Get a College Degree in Accounting While Working Full Time?

by Alex Morgan · March 14, 2023

Feature image get an accounting college degree

Are you interested in getting an accounting degree while working? This article tells you all about it.

The simple answer is yes, you can get a college degree in accounting while working fulltime but how easy is it exactly? You might wonder if you have to leave your job, and if you can find a college that offers a lenient schedule that allows you to work at your pace. Most students who are working professionals prefer the online route, and nowadays there are plenty of options to choose from. However, which program will suit you and whether they match opportunities you want to pursue. Let’s find out if you can get a college degree while working full time job? And if so, how and what you should be doing.

College Degree in Accounting and Finance

A degree in accounting and finance seems very lucrative for many college students. When you consider that around 11.2M people in the workforce are comprised of accounting and finance experts, you can understand how many people choose this as their primary profession.

So, why exactly is a degree in accounting and finance popular? There are a few reasons, such as:

Almost all industries require financial experts;
Good job outlooks and opportunities;
One of the safest career choices for students;
Consider the safest occupation by experts around the globe;
Considerably cheap tuition costs—around $7000 in-state median;
And an abundance of entry-level jobs.

There are a lot of banks, companies, and organizations that are always looking out for these accounting and finance experts. That’s why the scarcity of jobs in this industry is a thing unheard of. Now, that depends on your college education and experience.

In this field, an entry-level job is easy to find. That’s’ why a lot of people choose this as their primary profession. It gives them job security and allows them to start in an industry that requires them to be good with numbers.

On top of all that, a lot of students consider one thing; the ability to afford the tuition fee. Whereas other eye-catchy degree programs can cost them hundreds of thousands of dollars, becoming an accountant is only a matter of a few thousand dollars—as long as you’re studying in a local state university.

Therefore, a college degree in accounting and finance is becoming increasingly popular—as if it wasn’t already before. Moreover, the U.S. Bureau of Labor Statistics predicts the job outlook for this industry to hike by 6% by 2031. This could be in various industries, including:

Accounting and Finance
Agriculture
Construction
Sports
Government
Technology
Colleges and Universities
Hospitals
Retail stores
Food and beverage
Small businesses

Now, there’s the potential of around six percent more jobs in all these industries. It may not sound like a lot, but that 6% of around 14.4 million means more than 84 thousand job opportunities for a fresh student by the end of 2030. Therefore, the potential for expansion in this industry is ever-present, as are the growing job opportunities.

Bachelor’s Degree In Accounting Salary

The salary of any job title depends on the individual’s experience, abilities, skills, and formal education. If a candidate ticks all boxes, then an entry-level salary could be around $53,000 per year. However, putting a salary on a job like this is narrowing down a rather complex aspect of accounting.

A bachelor’s degree in accounting is one of the leading options for many aspiring accountants. As mentioned before, after high school, it seems like one of the most viable options with job security and a low tuition fee.

So, students who can afford the tuition fee bracket of accounting and finance go on to become auditors, general accountants, financial analysts, credit analysts, and personal financial advisors. These are the most common job titles among holders of a bachelor’s degree in accounting.

Nevertheless, how much do they earn? Below are estimated average salaries per year for you to get an idea:

Accountant & Auditors – $90,000
Financial Analysis – $111,000
Credit Analysts – $81,000
Personal Financial Advisors – $160,000
Financial Examiners – $110,000

Source: DataUSA.io

Now, all these salaries are for a moderately experienced employee—for someone who has been in the industry for 3-4 years after graduation. When you think about it, the $53,000 salary bracket might make sense.

Moreover, the U.S. Bureau of Labor Statistics suggests that a mid-level employee in accounting and finance earns around $77,000 per year while with an entry-level position, you can expect to earn a salary of around $45,000 – $55,000.

But, once again, it’s important to understand that all this comes down to your target industry. You might get your first accounting job at a small business, i.e., a retail store. A business on that level may not pay as well as a bank or an accounting firm.

Whereas in an industry such as sports or technology, you might get paid more than expected. Therefore, the salary bracket for a bachelor’s degree in accounting can vary and also depends on other skills that they present to a potential employer.

Associate Degree In Accounting

If you have a full-time job, then getting an associate degree in accounting might be a good idea. An associate degree is shorter, takes less effort, and is usually finished within two-three years—depending on the institution and the course you take.

Most associate degrees in accounting in the U.S. last around two years, which makes them a very convenient option for full-time workers. There are plenty of associate degree options in the United States, spread across 50 states.

More than half a million (516 thousand) people with associate accounting degrees are working full-time in the U.S. So, what are the benefits and why should you get an associate degree in accounting? Here are some compelling reasons:

It’s ideal for those working full-time;
It costs a lot less than a full-time degree (Bachelor’s or master’s);
It allows the candidate to complete the degree online (depending on the college);
It helps full-time workers get a better salary or induce a promotion;
And it teaches you all the basics of accounting and finance.

Besides all this, there are some universities and colleges that offer these associate degrees with the option to complete them at your own pace. This is important because full-time workers can complete this degree at their own pace by:

Attending recorded lectures
Doing online quizzes;
Taking online tests;
Submitting online assignments;
And scheduling according to their convenience.

Since not all universities and colleges offer these options, so make sure you check the college or university website before you enroll in a course. However, it is safe to assume that most online associate degree options will provide you some sort of leniency that helps you take your job alongside your studies.

Besides that, some universities and colleges even allow students to turn their associate degrees into a bachelor’s and, subsequently, a master’s when they deem fit. Therefore, you can always advance your studies in the future when you have more time and resources.

Accounting Degree Requirements

An accounting degree from a college requires you to complete around 150 credit hours—a bit more than the common bachelor’s degree of 120 hours. However, an associate degree is only around 60-70 hours of credit.

While this varies from college to college, you can expect it to stay in the range of 120. Usually, you will be required to go through a few tests before you are allowed to attend a state or out-of-state university in the United States. This includes:

High-school education or equivalent to 13 years of school/college (only applicable to foreign students);
Two years of high-school advanced math class credentials, such as math, pre-calculus, etc.
Attend and pass a GRE test, or take an IELT/TOEFL test (only for foreign students).

These are the basic requirements of most colleges and universities. Depending on whether you’re enrolled in a bachelor’s program or an associate’s one, most associate programs end within 2 years and require you to pass with at least a 2.0 GPA (Grade Point Average).

Whereas a bachelor’s degree in accounting requires you to complete the same with at least a 2.7 GPA. However, if you are looking to apply at a lucrative organization and wish for a long lasting career, try to score at least 3.0 or above to be considered for the job.

Lastly, most master-level programs take it up a notch and require you to complete it with at least a 3.5 GPA. These requirements are consistent and strict in most colleges and universities across the United States.

Now, those are the requirements of most universities. When hiring managers are on a talent hunt, they look for people with the following:

At least a 3.0 GPA across the board;
Passing from 150/70 credit hours for bachelor and associate degrees, respectively;
A CPA (Certified Public Accountant) certificate post-graduation;
Whether the candidate has passed the Professional Ethics Exam in CPA;
24-semester units in business or accounting-related degree.

These requirements usually depend on the job and expertise required. In some accounting firms, candidates are offered internships based on their performance before even the completion of their degree.

Best Accounting Schools Online And On-Campus

The best way to find an accounting school online or on-campus is to look for something near you. If you study out-of-state, the tuition charges usually increase. That’s why studying in-state is recommended by most student counselors.

However, for bachelor and associate degree programs in accounting, U.S News recommends these 10 universities in various states:

University of Texas Austin— Austin McCombs
University of Pennsylvania— Wharton
University of Chicago – Booth
The University of Michigan, Ann Arbor—Ross
The University of Illinois, Urbana – Gies
Brigham Young University, Provo, Utah – Marriott
The University Of Southern California, Los Angeles – Marshall
Indiana University, Bloomington – Kelley

What you see after the name of each institution is the dedicated business school at each university. For instance, Michigan’s Ross School of Business is the dedicated business school at the University of Michigan in Ann Arbor. You can check the full list of more than 56 ranked schools by U.S. News here.

So, how exactly should you pick the best college for accounting degree options? Here are some key tips:

Pick the nearest option to afford the in-state tuition fee;
Find a university that offers a program according to your requirement, i.e., associate or bachelor;
Look for universities that offer online degrees—ideal for people working full-time;
Focus on universities that offer affordable programs;
Focus on accredited colleges and universities only.

Following these few tips can help you find just the right type of college for you. However, it’s important that you do not compromise in terms of accredited degrees—whether it’s a bachelor’s, associate, or masters.

Conclusion

These are some of the key aspects of getting a degree while working full-time. It’s inevitable that you might run into some scheduling challenges; therefore, it might be better for you to find a program that’s suited to your schedule and affordability. Besides that, it’s equally important to tend to mental health, so sign up for a program you can manage while working.

Feature image: Unsplash