Double Major Options for Accounting Students
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Credit: Images By Tang Ming Tung / DigitalVision / Getty ImagesWhile earning a degree in accounting can set you up for a successful career, you can expand your job options and knowledge with a double major.
Double majors typically require the same number of credits as a standard bachelor’s degree, and schools generally confer a single degree rather than separate degrees for each major. For these reasons, single and double majors usually have comparable costs.
A double major in accounting and finance is a popular option, along with business, computer science, economics, information systems, statistics, or taxation. Explore your options and the benefits of a double major in accounting and another field in this guide.
Why Double-Major in an Accounting Program?
Pursuing a double major requires additional effort but it can also deliver benefits, including:
Access to Specialized Careers
Combining accounting with a second major can open doors to specialized opportunities for which businesses may struggle to find suitable candidates. Double majoring may also help you advance in your career more quickly, as your additional knowledge might reduce your on-the-job training requirements.More Career Options
As a double major, you can set yourself up not only for access to specialized careers but also for potential entry to more career paths. For example, if you double-major in accounting and finance, you can seek entry-level roles in either field after graduating.Increased Earning Potential
Research published in the Journal of Cost-Benefit Analysis found that students who double-majored in business and STEM fields outearned peers who majored in only one subject. A 2024 National Bureau of Economic Research study also found that double majors tend to have more income stability than single majors.Marketable Soft Skills
Completing a double major requires ambition and strong time management and organizational skills. Employers tend to value these attributes, and your double major could help you have an advantage in competitive hiring situations.Wider and Deeper Knowledge
Double majors have equal exposure to two academic subjects, giving you broader knowledge and deeper insights from multiple academic perspectives. These attributes can help you establish yourself as an authoritative, credible professional.
Common Majors to Pair With Accounting
Schools generally require students to declare their double majors early and meet the admission requirements for both majors. In some cases, institutions may offer double majors in accounting and related subjects in one program or in learning tracks.
Policies, structures, and requirements vary among institutions. Always check with the school in advance to see how it handles double majors in accounting and other subjects.
In terms of subjects to pair with your accounting major, consider these four options:
Economics
Economics programs cover how money, markets, and consumers operate and behave in the presence of specific factors. Knowledge in these areas can dramatically improve your professional prospects.
According to the Bureau of Labor Statistics, the accounting profession is evolving to include more analytical and strategic duties. This shift is mainly in response to technological change, as advanced software packages have automated many tasks that accountants once performed manually.
As a double accounting and economics major, you combine accounting analytics skills with economics insights. This can foster a deeper, more complete understanding of the trends, opportunities, and risks for future employers.
Finance
Accounting mainly focuses on tracking the money flowing through an organization. Finance more carefully considers how to optimize that money, looking at ways to maximize its potential to generate business growth and profitability.
Finance majors study methods of obtaining and managing capital. Bachelor’s programs in finance typically cover asset classes, investing techniques, risk management, and financial analysis.
Accounting and finance complement each other, making a double major in accounting and finance a natural and popular option. This academic path also helps you develop the analytical, strategic, and management skills that are increasingly vital to the accounting profession.
Information Systems
Information systems degrees explore the ways in which computer science and information technology intersect with business management. Since information systems play such a significant role in modern corporate accounting, some accounting programs offer concentrations in the subject. However, you can also pursue information systems as a double major or a standalone degree.
As a double major in accounting and information systems, you learn advanced data management, organization, retrieval, and analysis skills. Given how important data analytics have become in business, these proficiencies could have a major impact on your career.
Also, note that information systems represents one of the three Discipline domains you can select on the CPA Examination. By pursuing this double major, you can position yourself for success on that exam section.
Taxation
At the undergraduate level, taxation is a specialization within accounting, business, or law programs. Depending on your school and the tax-related courses it offers through various departments, you may be able to essentially design your own double major in accounting and taxation.
Businesses and individual taxpayers constantly seek ways to minimize their payment obligations while remaining fully compliant with the law. By developing advanced taxation expertise, you could specialize in this area and benefit from a strong demand for advanced tax management skills.
Double Majoring vs. Going to Graduate School
Double majoring is not your only option. You can also apply to a master’s program after earning a bachelor’s degree. Both paths have their own advantages, and either may be more practical in certain situations.
As a double major, you may need to take some extra courses and your schedule may be more intensive. However, you can save yourself the 1-3 years required for a typical master’s degree, along with thousands of dollars in tuition costs. If fast entry into the workforce is a top priority for you, double majoring might be the right choice.
Conversely, adding a master’s degree may make more sense in other situations. For instance, most schools only offer degrees in taxation at the graduate level. If you specifically want a taxation degree, pursuing a master’s program may be the best way to get it.
Also, consider the value of a master of business administration (MBA) degree. MBAs are among the most marketable degrees, and you can earn an MBA in accounting or in other specialized areas. For example, depending on your career goals, pairing an accounting degree with an MBA in finance might lead to more appealing opportunities than an undergraduate double major in accounting and finance would.
Lastly, remember that you can also pursue an accelerated bachelor’s-to-master’s program in accounting. This intense but efficient program leads to dual bachelor’s and master’s degrees in less time than pursuing the programs separately.
Questions About Accounting Double Majors
No single degree is the best to pair with an accounting degree, rather it depends on your skills, interests, and career goals. However, some popular options include business, economics, finance, information systems, and taxation since accounting professionals often encounter these topics in their roles.
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