![Is an Associates Degree in Accounting Worth It? [2020 Guide]](https://i2.wp.com/www.degreeplanet.com/wp-content/uploads/2020/08/associates-in-accounting-salary-6.jpg)
Contents
Understanding the Value of an Associate’s Degree in Accounting
Accounting is a field that offers numerous opportunities for career growth and financial stability. If you’re considering pursuing a career in accounting but don’t have the time or resources to commit to a four-year degree program, an associate’s degree in accounting can be a great option. Not only does it provide you with the necessary knowledge and skills, but it also opens up various job prospects. However, one question that often comes to mind is how much accountants with an associate’s degree actually make.
The Average Salary Range
The salary range for accountants with an associate’s degree can vary depending on several factors such as your location, years of experience, and the industry you work in. On average, accountants with an associate’s degree can expect to earn between $40,000 and $60,000 per year. However, it’s important to note that this range can fluctuate based on the aforementioned factors.
Experience Matters
Just like any other profession, the more experience you have, the higher your earning potential. Starting out with an associate’s degree, you can expect to earn a lower salary compared to someone with a bachelor’s or master’s degree in accounting. However, as you gain more experience and prove your skills in the field, you can gradually increase your earning potential.
Industry Factors
The industry you choose to work in can significantly impact your salary potential as an accountant with an associate’s degree. For instance, working in the finance and insurance industry often offers higher salaries compared to working in government or non-profit organizations. It’s important to research and consider the industry that aligns with your career goals and financial aspirations.
Location Matters
The location you choose to work in can also play a role in determining your salary as an accountant with an associate’s degree. Generally, metropolitan areas tend to offer higher salaries due to the higher cost of living. However, it’s important to consider the overall cost of living in a particular area as higher salaries may also come with higher expenses.
Advancement Opportunities
While an associate’s degree in accounting can provide you with a solid foundation, it’s important to remember that there are limitations to career growth and advancement opportunities compared to those with higher degrees. However, this doesn’t mean that you can’t progress in your career. By gaining experience, obtaining industry certifications, and continuously improving your skills, you can increase your chances of advancing to higher-level positions with better salaries.
Additional Certifications and Education
To further enhance your earning potential as an accountant with an associate’s degree, pursuing additional certifications and continuing education can be beneficial. Certifications such as Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Certified Internal Auditor (CIA) can not only increase your marketability but also lead to higher salaries.
Networking and Professional Development
Networking and professional development play a crucial role in any career, including accounting. Building connections within the industry, attending conferences and seminars, and staying updated with the latest trends and technologies can help you stand out from the competition. These efforts can lead to better job opportunities and potentially higher salaries as well.
Conclusion
While the salary range for accountants with an associate’s degree may be lower compared to those with higher degrees, it’s important to remember that it’s just the starting point. With experience, industry knowledge, and continuous professional development, you have the potential to increase your earning potential and advance in your accounting career. Whether you choose to pursue additional certifications or continue your education, the opportunities are there for you to seize and make a successful and financially rewarding career as an accountant.
