Accounting Or Engineering, Which One Should I Study?

Accounting Or Engineering, Which One Should I Study? (Solved & Explained)

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Both Accounting and Engineering are popular at College with many students choosing to study them.

Are you thinking of studying Accounting or Engineering, or even possibly both?

Having to make a choice of what to study is a big one.

Should you study Accounting or Engineering?

Both Accounting and Engineering careers are popular with college students because both of these fields offer interesting, fulfilling career paths with good earning potential, and are also in demand.

You should consider studying Accounting if you enjoy numbers, crunching numbers, following rules and legislation there is no better occupation for you than Accounting.

 

In fact, studying for an Accounting degree is one of the safest careers that can be undertaken.

Regardless of the economy, there will always be a need for people with accounting skills.

Career paths typically available by fully qualified Accountants include auditing, business services, corporate, cost, financial, financial control, forensic, funds, insolvency, management, and tax.

If you are ambitious and want to earn the big bucks then turning your attention to become a CFO one day, you will need to be certified as a CA (Chartered Accountant) or CPA (Certified Practising Accountant) after finishing your accounting degree

You should consider studying Engineering if you are creative, enjoy problem-solving, and are interested to explore how things work.

Engineering is a broad area, where there are many branches or career paths that can be chosen.

For instance, Computer Engineer, Civil or Chemical Engineering just to name a few

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Career path better for Engineering Degree or Accounting Degree?

Career paths for both Engineering and Accounting offer interesting and challenging varied career paths that pay well and are in demand.

While Engineering is all about using scientific principles to design and build machine structures and other items including bridges, buildings, and tunnels.

Accounting is all about reporting on financial information about the financial status of a business.

Information that is then used to reach decisions on how to best manage the business.

Accounting is about financial problem solving and Engineering is about using scientific problem-solving.

However, career paths for Accountants and Engineers are totally different.

Engineering graduates are typically assigned to teams supervised by experienced Engineers who take them under their wing.

Once you have gained sufficient experience a graduate Engineer can progress to more senior positions such as project manager, functional manager of design, construction, operation, or maintenance.

It is likely you will require a PhD you are looking to teach Engineering at tertiary level or looking head up a research and development program

Unlike Engineering Accounting is perceived to be boring and dull.

Perception of Middle-aged accountants void of any personality punching numbers into calculator whilst staring at spreadsheets.

Or the stereotype of an Accountant punching invoices into a spreadsheet or computer system and that’s all that Accounting is.

Sure there will be plenty of work done in the spreadsheet, and at times there may be some transaction work, however Accounting roles can be very fulfilling and rewarding.

It’s rewarding working across the organization, using your financial skills, communication, and reasoning skills to problem solve and come up with ideas to improve the financial health of an organization.

While many think Accounting jobs are all the same, this could not be further from the truth.

There are numerous and varied career paths, that can be pursued.

And the good news with Accounting roles demand is healthy and salaries are on the rise.

So using your base Accounting knowledge and skills learned at College you can pursue specialist career opportunities.

Opportunities such as audit, finance analyst, taxation, finance manager, etc

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If you have the desire there’s always the option of starting up your own Accounting firm.

This will allow you to be your own boss and potential to scale earnings.

Does Engineering Degree earn more than Accounting Degree? (Solved)

Engineering Degree wages are higher than Accounting Degree, with the median wage of an Accountant being $73,560 compared to an Electrical Engineer at $103,390 per annum.

Engineering graduate wages typically start off well, then plateau.

Compared to Accountants where they start off well but there are more career paths and opportunities to earn a higher income.

Such as Chief Executive officer median annual wage of $185,950 or Finance Manager median annual wage of $134,180

Engineer wages do differ depending on the branch.

Below are some popular Engineering branches.

According to the Bureau of Labor and Statistics, even the lowest-paid Engineering branch in the table below is higher than an Accountant’s wage.

The wages below should be used as a guide only and that wages will vary on the number of years of experience, geographical location, etc.

Role Median Pay 2020
Accountants  $               73,560
Electrical Engineer  $             103,390
Mechanical Engineer  $               90,160
Chemical Engineer  $             108,540
Civil Engineers  $               88,570

Source
Accountants and Auditors: Occupational Outlook Handbook: U.S. Bureau of Labor Statistics (bls.gov)
Architecture and Engineering Occupations: Occupational Outlook Handbook: U.S. Bureau of Labor Statistics (bls.gov)

Final Thoughts 

Choosing to study Engineering or Accounting will take you on an interesting, respectable, and well-paying career path.

Both Engineering and Accounting offer different career paths, one focused on financials the other based on solving problems through scientific means.

Making a decision on what to study is a big one.

Best to take your time, analyze your strengths, weaknesses, and interests.

Speak with friends and seek counselling if needed to help you make the decision.

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