Business Management Versus Accounting

A higher diploma in business administration or a degree in accountancy? If you are wondering which one is going right for you, then the article will help you to make a better decision by analyzing some cold and hard facts.

Career growth - 

According to a recent survey, auditors and accountants have a 16% growth in their career in terms of salary and promotion in comparison to a 12% growth of sales managers. Hence, whatever study disciple or platform you choose, you are in for a double figure growth.

Career growth -

The global business is increasing and more and more companies and turning out towards international avenues for greater and faster business growth. So no matter what study realm you chose out of these two, there are chances that you will get a high rate of growth in either one of them. Accountancy offers you a more stable growth platform. A higher diploma in business management may be obtained in disciples like marketing and a salary hike in this realm depends on the labour and efforts put in by the marketing/sales manager. So is the case with other realms of management as well including human resources and finance. If you are confident that you will make the difference, then choose management. If you want to take the more secure path, then accountancy is the one for you.

Salaries - 

It has been found that accountancy graduates may get a more standard paycheck initially but with time their salary hikes do not match the salaries of management graduates. Also, there is a 25% difference in the salary of the two professions. Management positions today offer an average salary of $82,829 while the accounting positions offer a salary of around $61,690. Still, a managerial position requires at least 4 to 5 years of experience while an accounting position may require less than 4 years of experience.

Interest - 

A job management profile requires more risk taking (within the given parameters) and the most adventurous students would like daily risks and new business scenarios that a management job throws at them.  Accountancy requires working on more calculative inputs. Still there are lots of similarities between the 2 disciples of study. Both accountants and business managers are required to study problem-solving, accounting, bookkeeping and tax preparation, business environment skills, project and process flow skills and other common subject areas. You will be astonished to find that 6 out of 9 areas of management and accountancy study are common! But when it comes to real job scenario, a manager works more on sales, process planning and marketing aspects while and accountant works more on the accounting, tax preparation and bookkeeping aspects of an organization. You can choose a field that suits your interest area.

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