BestOnlineCollege.org is an advertising-supported website. Many of the school and program listings that appear on this site are from partners who compensate us, and this compensation may affect how, where, and in what order listings appear (such as featured placements). This compensation does not influence our editorial content, evaluations, or rankings, which are determined independently using publicly available data. We do not review or feature every school or program available in the marketplace. Our goal is to provide accurate, unbiased information so you can make informed decisions. Read our full Advertiser Disclosure.
Key takeaway: An accounting degree leads to work that turns financial records into decisions: preparing and auditing statements, filing and reviewing taxes, planning budgets, and eventually running a finance function. Median annual wages across the occupations accounting graduates most often enter range from $50,670 for bookkeeping, accounting, and auditing clerks to $166,570 for financial managers (Bureau of Labor Statistics, May 2025 OEWS national medians). The credential that changes the most is not a higher degree but the CPA license, which sits on top of a bachelor's and a 150-credit-hour requirement in most states.
The federal wage system classifies accounting work across several occupations. These are the ones accounting programs most directly feed into, with the national median annual wage for each.
| Occupation | Avg. annual openings |
|---|---|
| Bookkeeping, Accounting, and Auditing Clerk | 170,000/yr |
| Accountant and Auditor | 124,200/yr |
| Financial Manager | 74,600/yr |
| Financial Analyst | 25,100/yr |
| Tax Preparer | 10,400/yr |
| Tax Examiner and Collector | 4,300/yr |
| Budget Analyst | 3,100/yr |
| Occupation | Median annual wage |
|---|---|
| Financial manager | $166,570 |
| Financial analyst | $102,740 |
| Budget analyst | $91,640 |
| Accountant and auditor | $83,680 |
| Tax examiner and collector | $62,370 |
| Tax preparer | $54,920 |
| Bookkeeping, accounting, and auditing clerk | $50,670 |
Source: Bureau of Labor Statistics, May 2025 OEWS national medians. A median is the midpoint: half of workers in the occupation earn more and half earn less. Pay for any individual position depends on employer, industry, geography, and experience.
Accountant and auditor is the core occupation the degree is built for, at a median annual wage of $83,680. The work splits into two broad tracks. Accountants prepare and maintain financial records, close the books each period, produce statements, and make sure filings comply with reporting standards. Auditors examine records someone else produced, testing whether the numbers are supported by evidence and whether internal controls actually work. Public accounting firms rotate new hires through audit and tax engagements for multiple clients; corporate accounting departments keep people inside one company’s books. Both start with the same coursework in financial and managerial accounting, taxation, and auditing.
Financial manager, at a median annual wage of $166,570, is the leadership destination most accounting careers point toward: controller, treasurer, finance director, or CFO. These roles own the financial reporting process, direct budgeting and forecasting, manage cash and capital, and answer to executives, boards, lenders, and regulators. It is not an entry-level job. Employers expect several years of accounting experience, and the highest earners in the category work in industries with complex capital structures, which is part of why the median sits so far above the rest of the table.
Financial analyst, at a median annual wage of $102,740, is the forward-looking counterpart to accounting’s backward-looking record keeping. Analysts build models, evaluate investments and business units, track performance against plan, and write the recommendations executives act on. Accounting graduates compete well here because they understand where the numbers in a financial statement actually come from, which analysts trained only in finance sometimes do not.
Budget analyst, at a median annual wage of $91,640, concentrates on planning and control rather than reporting. Budget analysts help departments build funding requests, check proposals against rules and available money, monitor spending through the year, and explain variances. Government agencies, universities, hospitals, and large nonprofits are the biggest employers, and public-sector budget work has its own vocabulary of appropriations and fund accounting that accounting coursework prepares you to learn quickly.
Tax examiner and collector, at a median annual wage of $62,370, works the government side of the tax system: reviewing filed returns, verifying claimed credits and deductions, conducting correspondence and field examinations, and arranging collection of amounts owed. Federal, state, and local revenue agencies hire from accounting programs specifically, and the work rewards people who like applying detailed rules to messy real-world records.
Tax preparer, at a median annual wage of $54,920, prepares returns for individuals and small businesses. Much of this work is seasonal and a substantial share of preparers do not hold an accounting degree, which pulls the median down. For a degree holder, tax preparation is usually a starting point or a side of the business rather than the destination; the same skills applied inside a CPA firm’s tax practice, where you handle entity returns, planning, and representation, sit in the accountant and auditor category instead.
Bookkeeping, accounting, and auditing clerk, at a median annual wage of $50,670, records transactions, reconciles accounts, processes payables and receivables, and keeps the ledgers that accountants later work from. This is the most accessible role in the table and the one where a degree is least often required, which again explains the lower median. It is a common way for students to work while finishing a degree, and the experience makes the first post-graduation accounting job easier to land.
Associate degree. An online associate in accounting covers the bookkeeping cycle, payroll, and introductory financial accounting. It supports clerk-level and accounts payable or receivable positions and transfers into a bachelor’s program. It does not, on its own, qualify you for accountant or auditor titles at most employers.
Bachelor’s degree. The online bachelor’s in accounting is the working credential for this field. It is what employers ask for in accountant, auditor, staff accountant, budget analyst, and analyst postings, and it is the entry point into public accounting firms and corporate finance departments. Most of the occupations in the table above are reachable with a bachelor’s plus experience.
The CPA license, which is not a degree. Certified Public Accountant is a state license, not an academic credential, and it is the single most important gate in the profession. Only a CPA may issue an audit opinion on financial statements. Licensure requires passing the four-part Uniform CPA Examination, meeting a documented experience requirement under a licensed CPA, and satisfying an education requirement that in most states totals 150 semester hours, which is 30 hours beyond a typical bachelor’s degree. Rules differ by state and several states have recently added alternative pathways, so verify the requirements with the board of accountancy in the state where you intend to be licensed before choosing a program. Other credentials, including Certified Management Accountant, Certified Internal Auditor, and Enrolled Agent for tax practice before the IRS, have their own separate requirements.
Master’s degree. An online master’s in accounting is most often used to close the gap between a 120-hour bachelor’s and the 150-hour licensure requirement while adding depth in taxation, auditing, or financial reporting. It is also the usual route into specialized practice and a common step for people moving toward controller and director roles. A master’s does not replace the CPA license or the experience requirement behind it. If tax is your target, compare a general accounting master’s with a dedicated taxation program.
Accountant, auditor, staff accountant, financial analyst, budget analyst, tax examiner or collector, tax preparer, and bookkeeping or accounting clerk, with financial manager roles such as controller and finance director opening up after several years of experience. The bachelor’s degree is the credential most of these postings ask for.
Median annual wages for the occupations accounting graduates enter are $83,680 for accountants and auditors, $102,740 for financial analysts, $91,640 for budget analysts, $62,370 for tax examiners and collectors, $54,920 for tax preparers, $50,670 for bookkeeping, accounting, and auditing clerks, and $166,570 for financial managers (Bureau of Labor Statistics, May 2025 OEWS national medians).
Not to work as an accountant. A bachelor’s is the standard hiring credential. A master’s matters mainly if you want CPA licensure and need the additional credit hours most states require, or if you want to specialize in an area like taxation or advance toward senior finance leadership.
No. Plenty of accountants work in corporate, government, and nonprofit roles without one. But only a CPA can sign an audit opinion, and public accounting firms structure promotion around passing the exam, so the license is close to mandatory if you want a career in public accounting or a senior external reporting role.
Accounting is primarily about measuring and reporting what has happened and making sure it complies with standards; finance is primarily about deciding what to do next with capital. The two overlap in analyst and management roles, which is why accounting graduates move into financial analyst and financial manager positions. Compare the finance program hub if the forward-looking side appeals to you more.
For most students aiming at accountant, auditor, or corporate finance roles, the degree is a hiring requirement rather than an optional advantage, and the occupations it leads to have median wages above the all-occupations median. Whether it pays off for you depends on program cost and whether you intend to pursue licensure; see is an accounting degree worth it.
Data verified: August 12, 2026. Salary, employment, and tuition figures on this page are sourced from the U.S. Bureau of Labor Statistics (OEWS May 2025; Employment Projections 2024–2034) and the U.S. Department of Education College Scorecard (2023 cohort). The source agency and data year are cited inline with every statistic.