Accounting versus Banking and Finance: Which Should You Study?
Accounting and Banking – Finance gain a lot of attention from candidates. Many candidates still consider studying Accounting or Banking and Finance. Below are 3 important criteria that help you to orient the right major, let’s check it out!
Is learning Banking and Finance and Accounting hard?
To have the best decision on choosing these two top careers, you should first find out whether learning Banking and Finance or Accounting is hard. Are they suitable for your abilities?
Both Banking – Finance and Accounting require you have the acumen in numbers and calculations. Therefore you need to be good at math, be careful and meticulous, since even small mistakes can lead to serious consequences.
Beside that, each major has its own characteristics, requiring different skills and expertise. The important requirements to study these two majors are passion and love. If you lack of those, in the process of studying and working, you will easily get bored and start to learn perfunctorily, leading to great risks later. Therefore, the answer to the question of whether it is difficult to study Accounting and Finance and Banking depends on your quality, determination and ability to cultivate and accumulate experience.
Career prospects of Banking and Finance and Accounting
To decide whether to study Accounting or Banking and Finance, first of all, you should find out the career prospects of these majors after graduation. According to the report “Human resource requirements in Vietnam 2018” of Vietnamworks, both Accounting and Banking and Finance are in the top 10 industries which have the highest recruitment demands, creating abundance of job opportunities for fresh graduates.
Graduates in Banking and Finance can apply for a variety of positions in banks, insurance companies, financial companies, tax authorities, customs, businesses, or become lecturers at colleges, universities…
As for Accounting students, the opportunity to find a specialized job is very high thanks to great recruitment demand. At the beginning, inexperienced graduates can work as internal accountants. After accumulating experience and improving qualifications, you can take on positions such as tax accountant, chief accountant, general accountant…
Salary in Banking and Finance and Accounting
Considering the salary of the banking and finance industry and accounting industry is also an important criterion to help you orient yourself. According to surveys, the salaries of these two industries are generally quite high compared to others, depending on position, experience, and region. You can refer to the salary below.
| Accounting | |||
| Position Hierarchy | Average salary range (VNĐ) | ||
| Mark 25% |
Median Salary Mark (Mark 50%) |
Mark 75% | |
|
Manager/Head of department |
15,000,000 |
20,000,000 |
28,000,000 |
|
Team leader, Supervisor |
12,000,000 |
15,000,000 |
20,000,000 |
|
Experienced staff |
7,000,000 |
8,500,000 |
10,000,000 |
|
Fresh graduate |
5,000,000 |
6,000,000 |
7,000,000 |
|
Finance/Investment |
|||
| Position Hierarchy | Average salary range (VNĐ) | ||
| Mark 25% |
Median Salary Mark (Mark 50%) |
Mark 75% | |
|
Manager/Head of department |
25,000,000 |
35,000,000 |
70,000,000 |
|
Team leader, Supervisor |
12,500,000 |
16,000,000 |
24,500,000 |
|
Experienced staff |
7,175,000 |
11,125,000 |
15,750,000 |
|
Fresh graduate |
5,000,000 |
6,000,000 |
8,000,000 |
|
Banking |
|||
| Position Hierarchy | Average salary range (VNĐ) | ||
| Mark 25% |
Median Salary Mark (Mark 50%) |
Mark 75% | |
|
Manager/Head of department |
18,000,000 |
30,000,000 |
50,000,000 |
|
Team leader, Supervisor |
15,800,000 |
19,000,000 |
24,000,000 |
|
Experienced staff |
8,000,000 |
10,000,000 |
13,000,000 |
|
Fresh graduate |
5,000,000 |
6,500,000 |
7,750,000 |
Based on the three criteria above, you can answer the question of whether to study Accounting or Banking and Finance in some way. Career prospects of these two industries are wide open. Which major to study depends on the ability and interest of each person. If you have passion and keep honing your quality and experience, attractive income and career advancement opportunities will come to you despite studying any major. We hope you can make the best decision.
