accounting vs finance degrees

Differences between a Bachelor’s and an Associate in Accounting

  • Cost of Tuition
  • Time Commitment
  • Coursework
  • Career Opportunities
  • Median Weekly Earnings and Unemployment Rates

There are several key differences between an associate degree and a bachelor’s degree in accounting. The degree you choose to earn is a matter of personal preference. While you’re weighing your options, here are some factors to consider.

Cost of Tuition

One of the key factors in the cost of your education is the school you choose and the program you enroll in. The cost per credit hour varies from one school to another. But generally speaking, the associate costs less than a bachelor’s because less time is involved.  The average cost per credit for an undergraduate is $205. Graduate is approximately $306 per credit.  A doctorate is about $490 per credit hour. The requirement for graduation is 36 credit hours.

Time Commitment

The main difference between the two programs is the length of time required to complete the program. Full-time students can earn their associate in two years or their bachelor’s in four years. Part-time students can take longer to complete their program. Part-time enrollment allows students to complete their degree at their own pace while working full-time. In the case of accelerated programs offered by many schools, it’s possible to earn a degree in 12-24 months.

Coursework

There are two ways to earn an associate. Students may enroll in a general studies program which allows them to transfer credits and an associate at the same time to continue their studies at a school that has more specialized programs. Another option is to enroll in a program that’s highly skilled. A requirement for most bachelor’s programs is that you choose your major and complete a project before graduation. In this case, two years of general studies are required before you begin coursework for your major. In this scenario, you can choose electives that can become a minor that will complement the major for your degree.

Career Opportunities

Some students want to complete their education quickly and start earning an income. For these students, an associate degree may be sufficient. However, if you want a high paying career, at least four years of school are required. CPAs with several years of experience can earn more than $100,000 annually. One specialty that most students aren’t aware of is working as an accountant for the FBI and investigating white-collar crime. Starting salary for these positions is $47,297. Those who reach the level of GS-14 can earn $84,697 each year.

Median Weekly Earnings and Unemployment Rates

The Bureau of Labor Statistics states that one of the significant differences between an associate and bachelor’s is the annual earnings and rate of unemployment. Students who earn an accounting degree can expect to make around $1,137 weekly. The unemployment rate is less than three percent. With an associate degree, the weekly earnings are approximately $798 a week. The unemployment rate is close to four percent. Students who took college courses but didn’t earn a degree and those who never attended college can expect to earn $738 and $638, respectively.

New studies by the Pew Research Center show that there’s an increasing disparity between students who put their education first and want a career, and those who don’t go to college to earn a degree. The study is based on a group of workers between the ages of 25 and 32 years of age who worked for at least 35 hours per week.

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