Accounting Degree Overview for Connecticut
Set between other New England states and New York City, Connecticut and its vibrant healthcare and insurance sectors make it a desirable market for accountants. According to U.S. News & World Report, Connecticut ranks fifth among the highest-paying states for accountants. Connecticut accountants make a mean salary of $84,890.
The accounting profession continues to prosper across the nation, providing a service that most businesses and individuals rely on. According to CNBC, accounting managers ranked as the 16th best job in America in 2020 due to competitive salaries, robust job markets, and high career satisfaction.
The Bureau of Labor Statistics (BLS) projects 6% growth in employment for accountants and auditors between 2018-2028, slightly above the national average of 5%.
This guide covers important information for students considering accounting degrees in Connecticut, including types of degrees, common concentrations, and potential careers and salaries for graduates.
Connecticut at a Glance
|Per Capita Income||$44,030|
|Fortune 500 Companies||25|
|Number of Higher Learning Institutions||43|
Average Annual Temperature: 49℉
Annual Precipitation: 50.3 inches
|Major Sports Teams||Connecticut Sun|
|Accountants in Connecticut||15,450|
Top Connecticut Schools for Accounting
- Fairfield University
- University of Saint Joseph
- Quinnipiac University
- Sacred Heart University
- University of Connecticut
- University of Hartford
- University of New Haven
- Eastern Connecticut State University
- Western Connecticut State University
- Central Connecticut State University
Why Go to College for Accounting in Connecticut?
Connecticut features some of the highest percentages of degree-holders in America. Nearly 40% of Connecticut residents hold a bachelor's degree, and the state hosts the third-highest percentage of people holding at least a master's degree, according to Zippia, which analyzes career data.
Most of the state's public universities, including the University of Connecticut (UConn), and two-year colleges offer accounting degrees. Several of Connecticut's private institutions offer accounting degrees as well, including Quinnipiac University, Fairfield University, the University of New Haven, and the University of Hartford.
The state's size and geographical location can also help degree-seekers access resources and organizations vital to the accounting profession. Connecticut's location near the Northeast megalopolis can enable aspiring accountants to find internships and networking opportunities at some of the biggest corporations in the country.
Education Statistics for Connecticut
When it comes to higher education in Connecticut, degree-seekers can face higher tuition costs and the state allocates less tax revenue for higher education compared to other states. However, the state does appropriate more money per full-time student than the national average. Explore the table below to see how Connecticut's educational system stacks up against the rest of the country.
|Connecticut Data||National Data|
|Number of Four-Year Colleges||31||3,004|
|Number of Title IV Two-Year Colleges||12||1,579|
|Percentage of Students Enrolled in Distance Education||21.3%||34.7%|
|Postsecondary Education Appropriations per Full-Time Student||$8,458||$8,196|
|Percent of Tax Revenue Allocated to Higher Education||4.2%||5.8%|
|Percentage of Adults Over 25 With an Associate Degree||7.7%||8.4%|
|Percentage of Adults Over 25 With a Bachelor's Degree||21.7%||19.4%|
|Percentage of Adults Over 25 With a Graduate Degree or Higher||17.2%||12.1%|
Accreditation for Connecticut Schools
When researching accounting programs, students make sure the institutions hold proper accreditation. Accreditation indicates that a school meets certain academic standards.
Students should look for online accounting degrees in Connecticut with regional accreditation. Typically, credits earned from schools with regional accreditation can transfer easily to other institutions with the same credentials. The New England Commission of Higher Education regionally accredits schools in the state.
A few business and trade schools may hold national accreditation, which tends to recognize two-year programs or schools offering programs in a single industry. Accounting programs might also carry subject-specific accreditation from the Association to Advance Collegiate Schools of Business or the Accreditation Council for Business Schools and Programs.
Considerations for an Accounting Degree in Connecticut
Students choosing between accounting degrees in Connecticut should consider several factors, such as cost, degree level, and available concentrations. The following sections cover these and other factors in more detail.
Accounting Degree Levels
When deciding which school to attend, the level of degree to pursue can impact your options. For entry-level positions in accounting, such as bookkeeper, an associate degree is generally considered the minimum requirement. This degree can be earned at a two-year college or four-year university.
Aspiring certified public accountants (CPA) typically pursue master's degrees. Accountants in Connecticut can technically sit for the CPA exam with just a bachelor's degree, but they must hold at least 150 college credits, which they usually achieve with a 120-credit bachelor's and 30-credit masters.
Those interested in careers in research and/or academia typically need a doctoral degree.
- Associate Degree in Accounting
This degree helps prepare students for careers in payroll or auditing and usually takes two years to finish.
- Bachelor's Degree in Accounting
A bachelor’s degree in accounting typically meets the minimum education requirements for jobs such as financial advisor and tax preparer.
- Master's Degree in Accounting
This advanced degree can satisfy the requirements to become a CPA.
- Ph.D. in Accounting
Earning a Ph.D. in accounting may lead to positions as a university professor or researcher.
Accounting Concentration Options
Many accounting students pursue a specialization. Typical accounting specialties include forensic accounting, internal auditing, corporate accounting, and governmental accounting. Due to the strength of the finance, insurance, and healthcare industries in the state, concentrations in analytics and taxation can make for particularly good careers.
This STEM-related concentration uses data analytics to reveal accounting insights, enhance procedures, and reduce risks. Students learn how to use data in auditing, predictive modeling, and business operations to prepare for jobs such as auditor and financial analyst.
Accounting Information Systems
Many businesses rely on tax specialists to prepare, file, and audit tax documents. Learners focus on all types of taxes, including income, corporate, and property. Careers best suited for this concentration include tax manager and tax analyst.
On Campus Versus Online Program Options
While distance education continues to boom across the country, some Connecticut students may prefer the structure of a traditional on-campus program. Keep reading to discover the advantages and disadvantages of on-campus and online learning.
|Enrolled Exclusively in Distance Education Courses||Enrolled in Some but Not All Distance Education Courses||Not Enrolled in Any Distance Education Courses|
|United States Students||16.3%||18.4%||65.3%|
Paying for Your Accounting Degree
Perhaps even more than other students, aspiring accountants understand the costs associated with a college education. Paying for higher education in the state can prove challenging, with tuition often more expensive than it is in other states.
The state's Office of Higher Education publishes a guide to financial aid called Paying for College. The document provides an array of resources to help students find scholarships, grants, fellowships, and loans. The Roberta B. Willis Scholarship Programs can also provide financial relief to qualified in-state learners.
|Average In-State Tuition and Fees (Public Four-Year)||$12,360||$9,040|
|Average Out-of-State Tuition and Fees (Public Four-Year)||$33,740||$25,660|
|Average Tuition and Fees (Private Four-Year)||$40,410||$30,730|
|Average In-State Tuition and Fees (Public Two-Year)||$4,310||$3,240|
|Average Out-of-State Tuition and Fees (Public Two-Year)||$12,880||$7,970|
In-State Versus Out-of-State Tuition
While accounting degrees for residents and nonresidents in Connecticut generally cost more than in most other states, some universities extend in-state tuition to distance learners. Franklin University, which offers more than 60 online programs, charges the same tuition rate to all students regardless of residency.
Residents in the neighboring states of Massachusetts, Rhode Island, New Hampshire, Vermont, and New York also enjoy in-state tuition rates at many of Connecticut's public institutions. Connecticut belongs to the New England Board of Higher Education, which grants tuition breaks to students from the five other states within New England.
Connecticut's Cost of Living
Connecticut ranks among the more expensive states when it comes to the cost of living. Housing, groceries, utilities, and transportation all tend to run higher in the state than in other places. The World Population Review, which ranks states for their cost of living, places Connecticut 43 for affordability and lists it as 27.7% more expensive than the national average. Degree-seekers should consider how the high cost of living may impact their budgets.
Other School Selection Criteria
With a wide selection of schools offering accounting degrees in Connecticut, finding the right one can prove challenging. Learners should take into account a variety of factors including, cost, size, location, online availability, and admission requirements.
EXPLORE OUR RANKINGS FOR THE BEST ACCOUNTING PROGRAMS AT EACH LEVEL
Careers for Accounting Graduates in Connecticut
With all of the Big Four international accounting firms -- Deloitte, KPMG, PwC (PricewaterhouseCoopers), and Ernst & Young -- hosting offices in the state, accountants remain in high demand in Connecticut. Cities like Bridgeport, Stamford, and Norwalk rank among the hottest places in the country for accountants.
In 2019, Peter Gioia, an economist for Connecticut Business and Industry Association, told an economic development conference that the state had good-paying jobs in accounting just waiting to be filled, according to the Connecticut Mirror. He also predicted strong growth in industries like insurance.
Below we list several promising accounting careers in Connecticut.
Select Accounting Careers in Connecticut
- Financial Managers
Financial managers in Connecticut earn nearly $40,000 more than the national average. Financial managers assess the finances of banks, insurance companies, and investment firms. They typically need at least a bachelor's degree.
Job Outlook: +16% (2018-2028)
- Accountants and Auditors
Accountants and auditors review the financial records of a public organization or private entity. Many of these positions cater to data-heavy industries like finance and insurance. They typically need a master's degree.
Job Outlook: +6% (2018-2028)
- Bookkeeping and Auditing Clerks
Bookkeeping and auditing clerks assist with financial record keeping. The job usually requires a basic understanding of accounting principles and an associate degree. Among accounting careers in Connecticut, these positions rank among the most numerous, with more than 17,000 bookkeepers and auditing clerks employed in the state.
Job Outlook: -4% (2018-2028)
Connecticut Employment Trends
Projected Job Growth for Accountants
Source: Projections Central
* Associate Degree Recommended ^ Bachelor's Degree Recommended ~ Master's Degree RecommendedExplore more careers here
Bookkeepers and financial managers represent the highest number of accounting jobs in Connecticut. Those with only an associate degree can often land basic bookkeeping jobs, while those with a master's degree can find work as financial managers.
Traditional accountants also fill many positions across Connecticut, with more than 15,000 employed in the state. Accountants often hold at least a bachelor's degree and can generally find work in virtually any industry.
Connecticut Requirements for Certified Public Accountants
The requirements for passing the CPA exam vary by state, but most states require learners to hold at least a bachelor's degree and 150 college credits.
Connecticut requires the following from prospective CPAs:
- Bachelor's degree
- 150 credits, including: 36 credits in accounting; 30 credits in business and economics; 60 credits in general education; 24 elective credits
- A 90 or better on the AICPA Professional Ethics exam
- At least 104 weeks of professional experience
Frequently Asked Questions
- Is accounting a good career in Connecticut?
- Connecticut ranks among the best places in the nation for accountants. Not only does the state boast high numbers of available jobs, but Connecticut accountants also earn more than many of their counterparts across the nation.
- How much do accountants earn in Connecticut?
- Salary varies by factors like experience, industry, and education, but Connecticut accountants make a mean salary of $84,890.
- What accounting jobs are there in Connecticut?
- Connecticut accountants can work in all types of industries. Some might find employment as corporate accountants, while others might work as auditors or tax examiners. The state also features a high number of financial managers, thanks to its large insurance industry.
- Can I get an accounting degree in Connecticut?
- Those interested in accounting careers in Connecticut will find plenty of places to pursue the required education. More than a dozen schools, both large and small, offer accounting degrees in the state.
- Does Connecticut have online accounting programs?
- Distance learners and local residents can select from an array of accredited online accounting degrees in Connecticut.
Connecticut Accounting and Education Organizations
- Connecticut Society of CPAs A professional organization based in Rocky Hill, the CTCPA represents Connecticut's CPAs. It provides educational opportunities, professional development resources, networking options, and advocacy initiatives.
- Connecticut State Board of Accountancy This official state agency governs the accounting industry in Connecticut and sets the standards followed by accountants. It also offers numerous resources on its site, including information on continuing education opportunities, licensing, and regulations.
- Financial Accounting Foundation A private, nonprofit, national association based in Norwalk, FAF oversees the financial accounting standards across the country.
- AICPA Connecticut Resources The largest association of CPAs in the nation, the AICPA hosts a wealth of resources on its Connecticut page, including links to all of the related governmental agencies in the state, exam information, publications, and tax forms.
Accounting Programs in Connecticut
The following institutions offer accounting degrees in Connecticut. All of the schools on this list hold regional accreditation. Many programs also hold programmatic accreditation.
- Degree Levels