Accountancy has a specific combination of properties that make it genuinely attractive as a second career: defined credential pathways, predictable compensation, broad cross-industry applicability, and no requirement that your first career was in business. But it also has real costs: a professional licensing exam that has a historically low pass rate, and in most states, an education requirement that means you’re looking at a meaningful investment before you can sit for the exam. This guide examines those realities using verified data rather than promotional framing.
The Baseline: What Accountants Earn and How Many Are Employed
The Bureau of Labor Statistics (May 2023, United States) reports:
- Accountants and Auditors (O*NET 13-2011.00): Median annual wage $79,880
- Employment: 1,531,400 workers in the United States
- Projected change 2022–2032: 4% (about as fast as average)
These figures cover all accountants and auditors, including those without CPA licensure. CPAs in certain sectors — public accounting, finance, and senior corporate roles — earn substantially more than the median. The 4% growth projection is moderate but the occupation’s size (over 1.5 million employed) means a 4% change represents a large absolute number of new jobs.
What Does a Career Change Into Accounting Actually Require?
Education
Most entry-level accounting roles and all CPA pathways require at minimum a bachelor’s degree. If your first career was in a non-business field, you likely need either a bachelor’s in accounting or a master’s with prerequisite accounting coursework. The “150-hour rule” — the educational requirement for CPA licensure in most states — means 150 semester hours of college credit, which exceeds a four-year bachelor’s degree (typically 120 hours). Many people satisfy this with a 5th year, a combined bachelor’s/master’s program, or a master’s in accounting (MAcc) after a non-accounting bachelor’s.
Check the specific requirements for your state through NASBA (the National Association of State Boards of Accountancy at nasba.org). Requirements vary by state.
The CPA Exam
The Uniform CPA Examination is administered by the AICPA (American Institute of CPAs) and consists of three core sections (Financial Accounting and Reporting, Auditing and Attestation, and Taxation and Regulation) plus one discipline section chosen from three options (Business Analysis and Reporting, Information Systems and Controls, or Tax Compliance and Planning). The AICPA reports overall pass rates for each section; historically, pass rates for individual sections have ranged from roughly 45% to 65% depending on the section and testing window. The exam is taken in sections; candidates have 30 months to pass all four sections. Preparation typically requires 300–400 hours of study total across all sections.
You do not need the CPA to work as an accountant. Many staff accountants and bookkeepers work without it. But the CPA is typically required or strongly preferred for advancement to senior roles in public accounting, and it is a significant compensation differentiator over a career.
Bookkeeping as an Entry Point (Without a CPA)
If your goal is a career change to accounting work without committing to full CPA licensure, bookkeeping is a lower-barrier entry point. Bookkeepers (O*NET 43-3031.00) earn a median of $47,440 (BLS, May 2023, US), significantly below accountants. But the role provides real experience in accounting systems, prepares for the accounting field, and does not require a four-year degree at the entry level. From bookkeeping, some practitioners earn the Certified Bookkeeper (CB) credential from AIPB or the QuickBooks ProAdvisor certification and build small-business client bases.
Is Accounting a Good Second Career for You?
Consider these questions honestly:
- Are you comfortable with detail-intensive, rule-following work? Accounting requires precision and compliance with standards that do not leave much room for improvisation. If your first career rewarded creativity and flexibility above rule-following, the adjustment is significant.
- Can you manage the education investment? If you need a master’s to satisfy the 150-hour requirement, you’re looking at 1–2 years of full- or part-time study and tuition costs that vary from $15,000 to over $50,000 depending on program.
- Are you prepared for an exam with a historically low pass rate? The CPA exam is genuinely difficult. Preparing for it while working and managing a life is hard. People who underestimate this often don’t complete the process.
- What is your target specialization? Accounting is not monolithic. Public accounting (audit, tax) at a CPA firm looks very different from corporate accounting (budgeting, financial reporting) or forensic accounting or government accounting. Knowing your target changes the advice.
Where Transferable Skills Matter Most
Career changers who do best in accounting transitions tend to bring one of these backgrounds:
- Law: Tax accounting has significant overlap with tax law; the analytical and compliance frameworks transfer well
- Engineering or technology: Systems thinking and technical precision transfer; IT audit is a specialty that explicitly combines both backgrounds
- Teaching or training: Some accounting roles involve client education; financial literacy instruction is a growing area
- Healthcare administration: Healthcare finance is a major subspecialty of accounting; background in healthcare operations is valued
- Government or nonprofit management: Fund accounting, grant compliance, and government financial reporting are distinct specializations where public-sector background is an asset
Questions to Ask an Accounting Mentor
- What does a career change into your specialty typically look like, and what do most people get wrong about the transition?
- Is the CPA worth pursuing for the path I’m describing, or is there a realistic senior-level path without it?
- What part of your background from before accounting has been most useful in the work?
- Which subspecialties of accounting have the most growth opportunity in the next ten years?
See our Accountants and Auditors career guide for the full O*NET task and skills profile.
Frequently Asked Questions
Can I become an accountant without a business degree?
Yes, with additional coursework. Many people with non-business degrees complete a post-baccalaureate accounting certificate or master’s in accounting to satisfy educational requirements. Check your target state’s CPA licensure requirements at nasba.org for the specific course requirements.
How long does a career change into accounting typically take?
If you have an unrelated bachelor’s degree, plan for 2–3 years minimum: 1–2 years of coursework or a master’s program, followed by the process of sitting for and passing the CPA exam sections. Without the CPA, you could enter bookkeeping or staff accounting roles more quickly with targeted coursework and certifications.
Is public accounting (CPA firm work) a good entry point for career changers?
Public accounting provides broad exposure quickly and is considered the best credential-building path by many practitioners. The trade-off is demanding hours, particularly during busy season (tax season or audit season). Career changers who enter public accounting in their 30s or 40s sometimes find the hours structure harder to absorb than people entering in their 20s. Many career changers target corporate or industry accounting roles instead, which offer more predictable hours.