If you love numbers and have a keen eye for details, you can settle for either accounting or electrical engineering.
These majors are ideal for someone with excellent problem-solving skills and sound knowledge of math. Moreover, they open opportunities for career advancement and offer high pay.
This post explains the differences between electrical engineering and accounting to help you decide which would be the ideal major for you. Keep reading to find out more!
Overview
| Electrical Engineering | Accounting | |
| Average Pay | $90,275 | $73,000 |
| Ease of finding a job | Good | Easy |
| Types of jobs you can qualify for | Control Engineer Project Engineer Systems Engineer Electronics Engineer Electrical Designer ElectricalTechnician Substation Technician | Auditor Finance Officer Accountant Account Manager Tax Manager Financial Analyst |
| Difficulty of the major | Hard | Moderate |
| Key things to note | Can work in a wide range of fields Lucrative career with high starting wages | Highly employable but one must complete CPA exams to advance to senior levels Focuses on business and finance industries |
What Is Electrical Engineering?
Electrical engineering is a branch of engineering that focuses on studying electrical systems, electronics, and electromagnetism.
Electrical engineers design, develop, test, maintain, and repair electrical equipment and machines.
What Is Accounting?
Accounting is a study that focuses on recording, maintaining, and reporting financial transactions of a company or business entity.
Accountants usually summarize, analyze, and report these transactions to tax collection entities, regulators, and other oversight agencies.
Jobs You Can Get with A Degree in Electrical Engineering
Electrical engineering is one of the most lucrative careers. A degree in electrical engineering can open numerous job opportunities in various fields.
The jobs you can get with a degree in electrical engineering include:
- Electronics engineer
- Systems engineer
- Controls engineer
- Electrical technician
- Software engineer
- Radio frequency engineer
The demand for electrical engineers is also increasing, with the U.S. Bureau of Labor Statistics suggesting that the industry will grow by 7% from 2020 to 2030.
Jobs You Can Get with A Degree in Accounting
Accounting is a high-paying career with accountants enjoying lucrative salaries and perks. The only concern about this profession is that it confines you in finance and business.
The jobs you can do with a degree in accounting include:
- Accountant
- Financial advisor
- Account manager
- Financial analyst
- Tax manager
- Forensic accountant
- Auditor
- Managerial accountant
- Chief financial officer
According to the U.S. Bureau of Labor Statistics, the demand for accountants and auditors will increase by 7% from 2020 to 2030. The stats project 135,000 new job openings for accountants and auditors each year.
Classes You’ll Be Taking in Electrical Engineering
Electrical engineering is one of the most difficult majors. It also has one of the highest drop-out rates because of the complexity of the program.
However, with dedication, focus, and hard work, you can complete your major and graduate successfully.
Here is a list of subjects you should expect to study with electrical engineering:
- Calculus
- Electricity
- Electromagnetism
- Linear algebra
- Differential equations
- Thermodynamics
- Control systems
- Circuit analysis
- Signals and systems
- Mechanics
Classes You’ll Be Taking in Accounting
Accounting can be a difficult major and classes can get more challenging during the senior years when students specialize in particular subjects. However, accounting has high graduation rates overall.
Here are some of the classes you’ll have to take:
- Introduction to financial accounting
- Introduction to managerial accounting
- Cost accounting
- Accounting entities
- Income tax accounting
- Auditing theory and practice
- Financial account theory
How Is Engineering Related to Accounting?
Accounting and engineering are somewhat related in the sense that all engineering projects require a budget.
An accountant is responsible for creating a budget and analyzing the financial feasibility of the project.
On the flipside, engineers have to account for the costs of the project. They must explain to the project manager why a particular device or piece of equipment costs a particular amount.
Other than the above explanation, engineering and accounting have very few relations.
Is Electrical Engineering Harder Than Accounting?
Electrical engineering is more difficult than accounting. Engineering entails studying a broad range of complex subjects like math, physics, electromagnetism, electronics, and control systems. Conversely, accounting focuses on finance and simple math.
Accountants don’t have to study broadly outside their scope while engineers have to focus on complex disciplines. Engineering is a multidisciplinary field of study, making it tougher than accounting.
Why Do Engineers Need Accounting?
Most engineering projects need a budget, which means an engineer might need accounting knowledge to create a financial plan for the project.
Accounting is also essential to engineers as it can help them control the costs of a project and measure the impact of their work in terms of income generated.
It can also help an engineer understand the company’s overall budget.
Do accountants make more money than engineers?
Accountants don’t make more money than engineers. According to payscale.com, accountants earn an average salary of $73,000 per year while electrical engineers make about $90,275 annually.
Nevertheless, average salaries range from company to company. Some companies pay their accountants more than what engineers make.
There’s no limit on how much you can earn as it all depends on your expertise and experience.
Can You Be An Accountant with An Engineering Degree?
You can be an accountant with an engineering degree. ICAEW chartered accountants don’t require a finance-related degree.
However, you must undertake the chartered accountancy program for three years and sit the various CPA exams to become an accountant.
Final verdict
Electrical engineering and accounting are both lucrative careers. However, electrical engineering has higher pay with more perks.
If your motivation is to earn a high salary, consider pursuing electrical engineering. If you have a passion for math and balancing the books, a career as an accountant is an ideal choice.
You may need to undertake and pass various CPA exams to climb the career ladder and become a senior accountant.
