Contemplating a Major in Accounting
Mark Landy
Contemplating a Major in Accounting
I recently received a surprising phone call from my youngest daughter Pam. Pam just started her sophomore year in college and is majoring in elementary education. The phone call was surprising in two respects. First of all, there was no mention of, or request for, additional money. Those of you who have ever had children in college will understand just how surprising this is. The second surprise— Pam wanted to discuss the possibility of changing her major from elementary education to accounting. Having discussed the opportunities that Peggy Ullman’s daughter and Bruce Nordstrom’s daughter had available to them upon graduating with accounting majors, I found the prospect of her switching majors to be very interesting.
Pam had given this possible change in majors quite a bit of thought and had a number of questions for me and my wife, Sue, who is also a CPA. Below, I include four of Pam’s more interesting questions and my responses.
Question: As an elementary school teacher, I know I’ll have an impact on people’s lives. As an accountant, and eventually a CPA, will I be able to have an impact on people’s lives?
Response:The work that CPAs perform will impact the lives of their clients, the companies they work for, and the shareholders of those companies. I explained that the AICPA’s new tagline is, “America counts on CPAs.” I went on to explain how the work that CPAs perform affects the economy, individuals’ lives, and the business community at every level.
Question:As an elementary school teacher, I know I will be respected for my honesty and ethics. Will I get that same respect as an accountant?
Response:As a CPA, you will be respected for your honesty and integrity. The accounting profession is built on integrity and ethics. The year 2000 was the first year that the Gallup Poll included accountants as part of their poll of the most honest and ethical professions. Since that very first year, accountants have been listed in the top ten professions, as have teachers.
Question:As an elementary education major, I know I won’t have a difficult time finding a job after graduation. Will I have a difficult time finding a job if I graduate with a major in accounting?
Response:This is one of the best times in the past 20 years to graduate with a major in accounting. The demand for accounting graduates with a good GPA, and a personality to match, far exceeds the supply. The prospects for obtaining an entry level accounting position have never been better.
Question:Do you ever look back and wish you had majored in something other than accounting?
Response:I actually graduated with a major in economics and took accounting to be in the same classes as my girlfriend, who turned out to be my wife and her mother, so every day I’m thankful I took accounting. I’ve found being a CPA to be a challenging and rewarding profession. I’ve met and worked with and for interesting, intelligent and creative individuals. As I look back over the 32 years that have passed since I graduated from college, I feel very fortunate to have followed a career in accounting and to have become a certified public accountant.
Pam hasn’t made a decision as of yet; the jury is still out. I am, however, keeping my fingers crossed that Pam will follow in her mother’s and my footsteps.
