Finance vs Accounting

How each major is officially classified

Both definitions below are the official U.S. Department of Education (NCES) CIP 2020 descriptions — not CampusPin summaries.

What you actually study

Where each major leads

The federal CIP–SOC crosswalk maps each academic program to the occupations it is designed to feed. Comparing the two lists shows where Finance and Accounting converge and where they part. Every wage below is the BLS 2024 national median for that occupation — not an outcome for the major, and not a starting salary.

A major does not restrict you to these occupations, and plenty of graduates work outside them. The mapping describes what each program is built to prepare you for.

Which one tends to suit which student

This part is CampusPin’s judgement, not a measurement. Neither major is better; they suit different temperaments.

What to ask each department

Curricula vary far more between institutions than between these two majors. These questions surface the differences that actually matter for this choice.

1. 1What are my state board's current credit-hour and coursework requirements for CPA licensure, and how does this program map onto them? Several states have added pathways recently, so check the board directly rather than assuming.
2. 2What is the program's CPA exam pass rate, and how do they support students preparing for it?
3. 3Which employers recruit on campus for each major, and at what point in the year?
4. 4Can I take the finance electives I want as an accounting major, or would that require a double major?

Frequently asked questions

What is the difference between a Finance and a Accounting major?

Accounting is about measuring and reporting what happened — recording transactions, producing statements, and verifying that they are correct. Finance is about deciding what to do next — valuing assets, allocating capital, and managing risk. Accounting looks backward with precision; finance looks forward under uncertainty.

Do Finance and Accounting lead to the same jobs?

Partly. The federal CIP–SOC crosswalk maps both programs to 5 of the same occupations — including Appraisers of Personal and Business Property, Budget Analysts, Credit Analysts. It also maps 8 occupations to Finance that it does not map to Accounting, and 4 to Accounting that it does not map to Finance. A degree is not a restriction — graduates work outside these lists routinely — but the mapping shows where each program is designed to lead.

Which pays more, Finance or Accounting?

CampusPin does not publish a "higher-paying major" answer, because the data does not support one. BLS reports median wages by OCCUPATION, not by college major, and both of these majors lead to a range of occupations that overlap. The per-occupation medians on this page are the honest version of that question: compare the specific roles you are actually interested in, and remember that pay varies widely by employer, region, and experience.

Is there anything commonly misunderstood about choosing between Finance and Accounting?

A common misconception is that the CPA is closed to finance majors. Eligibility is set by each state board on credit hours and specific coursework, not on the major printed on the diploma — a finance student who takes the required accounting and business hours can sit for it. Accounting programs are simply built around those requirements by default. CPA licenses are also issued per state, so practising across state lines depends on your state's mobility rules.