Switching from Mathematics to Accounting? (or Finance)

[DrPizza]

smarter/geek personality: go for mathematics.
boring person or can't hack the mathematics: go for accounting.

 

[Zebo]

Originally posted by: Hayabusarider
Go with mathmatics, heavy on statistics and then become and actuary. No I am not kidding.

My brother did just this, and makes big bux.

Whats an actuary? Guess I could look but never heard of it.

Orsorum-I started college as an accounting major and was bored stiff. Swiched to science and eventually engineering. My brother is an accountant, went to university of chicago, and paid more in taxes last year than I made so it's obviously a very lucrative field.

 

[Michael]

Accounting.

Economics is almost worthless if you want to find a job.

Finance is OK, but you need a good grasp of accounting to do financial analysis well.

You should be in the top of the class in Finance if you're maintaining a 3.25 in Science/Math. It is much easier (do the same work, get higher grades).

If you're going to do accounting, go the CPA route. Work for a Big 4 firm. That's the way to the biggest bucks. Then do an MBA and keep away from the actual doing of accounting.

Michael

 

[Hayabusa Rider]

Originally posted by: Carbonyl

Originally posted by: Hayabusarider
Go with mathematics, heavy on statistics and then become and actuary. No I am not kidding.

My brother did just this, and makes big bux.

Whats an actuary? Guess I could look but never heard of it.

Orsorum-I started college as an accounting major and was bored stiff. Swiched to science and eventually engineering. My brother is an accountant, went to university of chicago, and paid more in taxes last year than I made so it's obviously a very lucrative field.

Actuary- an accountant without a personality 😉 An old actuary joke.

An actuary is a statistician who works in the insurance industry. They compile risk tables etc. It involves taking comprehensive tests over time. Takes several years to complete. You do work as an actuary in the meantime, but your responsibilities and pay increase every time you pass an exam. My brother is making 150k + right now and not at the top end. Virtually every executive position in insurance is held by a member of the actuarial society.

 

[Zebo]

Originally posted by: Hayabusarider

Originally posted by: Carbonyl

Originally posted by: Hayabusarider
Go with mathematics, heavy on statistics and then become and actuary. No I am not kidding.

My brother did just this, and makes big bux.

Whats an actuary? Guess I could look but never heard of it.

Orsorum-I started college as an accounting major and was bored stiff. Swiched to science and eventually engineering. My brother is an accountant, went to university of chicago, and paid more in taxes last year than I made so it's obviously a very lucrative field.

Actuary- an accountant without a personality 😉 An old actuary joke.

An actuary is a statistician who works in the insurance industry. They compile risk tables etc. It involves taking comprehensive tests over time. Takes several years to complete. You do work as an actuary in the meantime, but your responsibilities and pay increase every time you pass an exam. My brother is making 150k + right now and not at the top end. Virtually every executive position in insurance is held by a member of the actuarial society.

Duh Brains not firing today. I frequently qoute/use actuarial tables when making financial decisions...

 

[Orsorum]

Originally posted by: Michael
Accounting.

Economics is almost worthless if you want to find a job.

Finance is OK, but you need a good grasp of accounting to do financial analysis well.

You should be in the top of the class in Finance if you're maintaining a 3.25 in Science/Math. It is much easier (do the same work, get higher grades).

If you're going to do accounting, go the CPA route. Work for a Big 4 firm. That's the way to the biggest bucks. Then do an MBA and keep away from the actual doing of accounting.

Michael

I've considered doing both... OR if I want to go the overload route, and one that would never land me a job, I could do accounting as an undergrad, then go for a JD+MBA program, and also fulfill the requirements for a Masters in Accounting during the first year - first year would be hell, last two wouldn't be so bad, and I'd come out with a Masters of Prof. Accounting, an MBA, and a law degree.

No one would hire me.

 

[Booster]

Has anyone done something similar to this?

I have. It was the dumbest decision I could possibly make. The thing is, I'm not good at math. And I work as an accountant. Of course, I don't have to calculate integrals, pretty basic stuff, but it's not the math that pisses me off in my job. It's my first year at this job, and my frigging head is swelling. Some people say you don't need to be smart to be an accountant, that's entirely wrong, they haven't tried it themselves. Calculations aren't a problem, but keep in mind how many laws and accounting standards you'll have to learn just to do pretty basic stuff. And all that is pretty difficult to understand. What's terrible is that you won't be getting any more money than people who don't do crap at work and get paid the same, work much less with little to no effort. It isn't an easy trade, believe me. I'm thinking of switching from accounting ASAP b/c I already figured out I'm not going to make a good accountant, ever. I better find something different to do. So these are the things you'll have to consider if you want to work in that field.

So, to sum it up, if you're good at math it doesn't mean you'll be happy as an accountant or an economist. Calculations themselves aren't a primary concern. You'd be happy in this field if you can grasp theory well and memorize (and understand) the tax laws.

 

[Orsorum]

Originally posted by: Booster

So, to sum it up, if you're good at math it doesn't mean you'll be happy as an accountant or an economist. Calculations themselves aren't a primary concern. You'd be happy in this field if you can grasp theory well and memorize (and understand) the tax laws.

That's what I'm hoping to find out by next winter.

 

[Michael]

Mental quickness and people skills are what are important to do well in accounting. There will be many who will know the rules. Seeing where they can be applied and managing your staff well will be what determines how well you eventually do.

Like any profession, the first few years are paying the dues and doing boring activities. The more senior you are, the bigger decisions you get to make.

Michael