Accounting Or Medicine, Which One Is Better? (Solved & Explained)

Considering studying either Accounting or Medicine?

Both Accounting and Medicine are highly regarded career paths.

So should you study Accounting or Medicine, which one is better?

In short, Medicine is seen to better, since its more prestigious and typically pays more than Accounting, but both have opportunities to earn lucrative wages. That said, Medicine is much harder and demanding to study than Accounting, and for a longer time.

Studying either Accounting or Medicine, although completely different careers will set you up for interesting and in-demand careers with good earning potential.

You should consider studying Medicine if you enjoy dealing with people and helping solve and treat people’s health.

You should consider studying Accounting if you enjoy following rules, financials and working with numbers.

So now we have answered the main question, let’s further explore Accounting and Medicine.

What do Accountants Vs Medical People Do Every Day?

What an Accountant does every day compared to a Medical person is totally different.

Like trying to compare horses and snakes.

Accountants spend the day ensuring financial records are up to date and are correct.

This involves analysing financials and crunching numbers.

Duties also include preparing financial reports, budgets, processing tax returns and accounting records including statements and cash flow for small and large organisations.

So what do Medical Doctors do all day?

Medical Doctors spend their day treating patients, taking notes, advising patients on their health and prescribing medicine or treatments at the clinic or performing rounds at hospitals.

Is Accounting Harder Than Medicine To study?

Medicine is much harder than Accounting to study. Medicine involves having to learn and memorise a vast amount of information in a relatively short period of time.

With Medical Schools only accepting the most academically capable students, getting into Medical school is much harder than Accounting at College.

Accounting is seen as the hardest business course at college because it’s not intuitive and their lots to learn.

If you can get a grasp of the concepts and keep on top of the course work then Accounting at College should be relatively straightforward.

However, this does not compare to Medical School, where the only way to absorb the vast amount of information is to study for long hours, including on weekends.

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Does Accounting Pay More Than Medicine?

Medicine pays more than Accounting. The median wage of an Accountant is $73,560 compared to Medicine at $208,000 per annum 

If you are ambitious and willing to work hard and climb the ladder, Chief Financial Officer (CFO) earn a median wage of $106,860 per annum.

However, the median wage of a CFO is still less than Medicine.

Accountants can also join the big Accounting firms that pay high wages for senior roles.

Accountants and Medically qualified people if motivated enough can also start up their own practice, and if successful take in higher wages.

The wages discussed are median wages and should be taken as a rough guide.

The reason I say this is wages differ based on working on private or public organisations, geography, location, size of business and industry (some pay more than others).

Final Thoughts

Both Accounting and Medicine are popular paths.

Both are completely different, one is about solving financial problems and statements.

The other is about treating patients and trying to make their lives better and more comfortable.

Study Medicine is much harder than Accounting.

Medicine involves having to study a vast amount of material, much more than Accounting, and for a longer time.

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Accountants and Auditors: Occupational Outlook Handbook:: U.S. Bureau of Labor Statistics (