Career Opportunities in Accounting

Some careers will require additional education and experience, which is one reason the College of Business offers a wide variety of internship opportunities to expand your skills, preparing you for the best opportunities after you graduate.

The Employment and Salary Outlook

The wage gap is widening between workers with college degrees and those without.  Salaries are commensurate with experience and company size.  According to NACE (National Association of Colleges and Employers), as of Summer 2004, the accounting major’s average starting salary is $42,155 (Based on Bachelor’s Degree level). 

Potential career fields for those with a Business Administration Degree with a concentration in Accounting include:

• Auditing

• Budget Analysis

• Financial Accounting

• Management Accounting

• Tax

Career Opportunities in Finance

There are two basic career paths in finance.  The first is managerial finance, which involves managing the finance function for businesses in the manufacturing and trade industries.  These industries make and sell consumer and commercial products.  The second is a career in the financial services industry, which creates and sells intangible financial products or services.  Banking, securities, real estate, and insurance are all financial service industries.

Managerial Finance

• Capital Budgeting Analyst/Manager

• Credit Analyst/Manager

• Financial Analyst

• Pension Fund Manager

• Project Finance Manager

• Property Manager (corporate)

Financial Services

• Banking

• Loan Officer

• Retail Bank Manager

• Trust Office

• Securities

• Financial Planner

• Investment Banker

• Securities Analyst

• Stockbroker or Account Executive

• Insurance Agent/Broker

• Underwriter

The Employment and Salary Outlook

Below are typical entry-level positions available to recent graduates.  Advanced positions are available after a number of years work experience and/or an advanced degree.  Although many of the top positions in finance are not available to recent graduates, firms frequently hire new graduates as assistants to these positions. 

Finance Salaries

BANKING  

Experience/Title                                                       2005 Salary Range

Commercial Lender (3+ years)                               $61,750-100,000

Commercial Lender (1-3 years)                              $45,500-70,000

Commercial Credit Analyst (3+ years)                    $47,750-75,000

Commercial Credit Analyst (1-3 years)                   $38,000-52,000

Mortgage Underwriter                                             $34,000-46,750

Exec./Prof. Consumer Lender (1-3 years)              $42,500-56,250

Mortgage Lender                                                     $36,000-47,500

Loan Administrator                                                  $30,500-40,750

FINANCIAL SERVICES

Experience/Title                                                      2005 Salary Range

Portfolio Administrator                                           $43,250-60,250

Trade Settlement/Reconciliation Specialist         $36,500-52,250

Sales Trader/Assistant                                           $30,250-49,000

Margin/Dividend Clerk                                           $31,750-50,000

Shareholder/Client Service Representative         $26,500-33,250

Stock Record/Transfer Specialist                         $30,750-40,000

CORPORATE FINANCE

Job Title                                                                  2005 Salary Range

Rookie Financial Analyst (Smaller Firms)            $29,750-36,250

Rookie Financial Analyst (Larger Firms)              $33,500-40,000

Seasoned Financial Analyst (Smaller Firms)        $42,250-54,750

Seasoned Financial Analyst (Larger Firms)           $53,500-68,250

Credit Manager                                                       $55,500-76,000

Tax Manager/Director                                            $57,750-125,000

Assistant/Divisional Treasurer                                $44,500-114,750

Chief Financial Officer (Smallest Firms)                $84,500-111,000

Chief Financial Officer (Largest Firms)                  $244,500-347,000

 Note: Add 10 to 15 percent for graduate degrees or professional certification.

(Statistics taken from 2005 Salary Guide, Robert Half.)