Law vs Accountancy - Salary.sg Forums
Salary.sg Forums  

Go Back   Salary.sg Forums > The Salary.sg Discussion Forums: > Income and Jobs

Income and Jobs Discuss jobs, career options and of course salaries




Law vs Accountancy

Reply
 
Thread Tools
  #1 (permalink)  
Old 11-01-2019, 09:45 PM
Junior Member
 
Join Date: Jan 2019
Posts: 1
Cefiro22 is on a distinguished road
Default Law vs Accountancy

Hi all, I got into SMU Law and NUS Accounting last year. I chose NUS cos I heard that the law industry was pretty saturated.

My senior told me that things weren’t THAT bad (most can still find a job) and that the pay was probably much higher than studying accountancy.

Still, im assuming that I would probably score much higher in accountancy than law (law is much more competitive), so the pay won’t be that different.

Can anyone give me some advice? Will I be better off as a better-than-average accountant or an average lawyer? How about the working hours? (I think accountancy would be slightly better)

Thanks for any inputs!

Reply With Quote
  #2 (permalink)  
Old 11-01-2019, 10:22 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Cefiro22 View Post
Hi all, I got into SMU Law and NUS Accounting last year. I chose NUS cos I heard that the law industry was pretty saturated.

My senior told me that things weren’t THAT bad (most can still find a job) and that the pay was probably much higher than studying accountancy.

Still, im assuming that I would probably score much higher in accountancy than law (law is much more competitive), so the pay won’t be that different.

Can anyone give me some advice? Will I be better off as a better-than-average accountant or an average lawyer? How about the working hours? (I think accountancy would be slightly better)

Thanks for any inputs!

The average lawyer earns more than average accountant.
Even at junior level, per hour law beats accounting.

In terms of AI replacing you, both are equally susceptible.

Accounting entry is easy, just an ACCA. Law is so much more difficult.

Reply With Quote
  #3 (permalink)  
Old 12-01-2019, 02:46 PM
Unregistered
Guest
 
Posts: n/a
Default

Quote:
Originally Posted by Cefiro22 View Post
Hi all, I got into SMU Law and NUS Accounting last year. I chose NUS cos I heard that the law industry was pretty saturated.

My senior told me that things weren’t THAT bad (most can still find a job) and that the pay was probably much higher than studying accountancy.

Still, im assuming that I would probably score much higher in accountancy than law (law is much more competitive), so the pay won’t be that different.

Can anyone give me some advice? Will I be better off as a better-than-average accountant or an average lawyer? How about the working hours? (I think accountancy would be slightly better)

Thanks for any inputs!
Both law and accounting are vastly different beasts.

It might sound like hollow advice at this stage (I'm assuming you rejected your spot in SMU?) but you really should choose based on whether you can see yourself practicing in either field, not job prospects, quality of life or starting salary - all these considerations are transient and temporary.

As a lawyer i for the love of God can't stomach a lifetime of staring at spreadsheets full of numbers. But that's just me. You may have a phobia of writing. It really depends on the individual.

Working hours wise the main difference is that you're going to have peak seasons and lull seasons in Big4, assuming that you take the conventional audit route. As a lawyer you are constantly fighting fires so there's no true high-key or low-key period. Your schedule is dictated by either the client or the court, so unpredictability is a greater issue.

Pay wise I really doubt scoring better in uni will give you in edge in accounting since all graduate audit hires start off on the same payscale, like most professional services firms. You could try aiming for more lucrative areas like IB with a first class but then again you could also do the same with a law degree.

Reply With Quote
  #4 (permalink)  
Old 19-01-2019, 04:36 PM
Unregistered
Guest
 
Posts: n/a
Default

Good advice here. Pick what you think you'll enjoy and excel at rather than what you feel will pay more or is perceived to be more glamorous. I went through the accounting route, am now the FC of a company and I must say I really enjoy my job. My wife happens to be a lawyer and it seems neither of us could live doing what the other one does - she simply can't deal with numbers or spreadsheets whilst I'd rather die than read the amount of words she does.

Money wise - We both earn good, comfortable salaries, over the years sometimes I've earned more and sometimes she has. We know people in both industries and I'd say the money can go both ways - we know some lawyers that make much more than the average accountant and some accountants that make much more than the average lawyer. Be prepared to work hard in the first few years for both fields, and I would say that straight out of university, lawyers do have higher starting salaries, but in the long-run I think it's really up to the individual. Overall I'd say they're both very rewarding careers with many long term options for growth and challenges but if I were you I'd do some serious thinking and pick something you think you'll enjoy for a long time.

Quote:
Originally Posted by Unregistered View Post
Both law and accounting are vastly different beasts.

It might sound like hollow advice at this stage (I'm assuming you rejected your spot in SMU?) but you really should choose based on whether you can see yourself practicing in either field, not job prospects, quality of life or starting salary - all these considerations are transient and temporary.

As a lawyer i for the love of God can't stomach a lifetime of staring at spreadsheets full of numbers. But that's just me. You may have a phobia of writing. It really depends on the individual.

Working hours wise the main difference is that you're going to have peak seasons and lull seasons in Big4, assuming that you take the conventional audit route. As a lawyer you are constantly fighting fires so there's no true high-key or low-key period. Your schedule is dictated by either the client or the court, so unpredictability is a greater issue.

Pay wise I really doubt scoring better in uni will give you in edge in accounting since all graduate audit hires start off on the same payscale, like most professional services firms. You could try aiming for more lucrative areas like IB with a first class but then again you could also do the same with a law degree.
Reply With Quote
Reply

Bookmarks

Tags
accountancy, accounting, law, nus, smu

« Previous Thread | Next Thread »

Thread Tools

Posting Rules
You may not post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
SMU Accountancy vs SUTD ISTD peacepenguin Education and Personal Growth 1 04-10-2018 03:42 PM
SMU Accountancy vs SUTD ISTD peacepenguin Income and Jobs 5 28-04-2018 09:44 AM
Career advice(Accountancy) 7Desires Income and Jobs 23 28-06-2015 08:50 PM
Accountancy in other countries? Fugutaiten Income and Jobs 1 04-01-2014 09:20 PM
Regarding Accountancy pancakes Income and Jobs 5 28-11-2010 12:02 PM

» 30 Recent Threads
MINDEF DXO (All FAQ on it) ( 1 2 3... Last Page)
2,127 Replies, 1,380,335 Views
Job offer from Apple
8 Replies, 383 Views
AML/Compliance/KYC professionals... ( 1 2 3... Last Page)
1,274 Replies, 442,840 Views
how much shall I expect for a vp... ( 1 2 3... Last Page)
41 Replies, 50,055 Views
Civil Service Performance Bonus ( 1 2 3... Last Page)
1,143 Replies, 844,384 Views
Constituency Manager (People... ( 1 2 3... Last Page)
682 Replies, 336,364 Views
Citibank Singapore ( 1 2 3... Last Page)
40 Replies, 16,183 Views
Changi Airport Group ( 1 2 3... Last Page)
351 Replies, 264,727 Views
Career as Teacher ( 1 2 3... Last Page)
1,394 Replies, 1,016,240 Views
Shell Graduate program ( 1 2 3... Last Page)
157 Replies, 104,020 Views
OCBC Graduate Talent Programme... ( 1 2 3)
29 Replies, 7,360 Views
Accountancy undergrad need advice ( 1 2)
10 Replies, 1,391 Views
Enterprise Singapore hiriing... ( 1 2)
18 Replies, 4,729 Views
Q: Big4 - Yearly salary increment ( 1 2 3... Last Page)
786 Replies, 569,300 Views
Lawyer Salary ( 1 2 3... Last Page)
4,148 Replies, 1,443,600 Views
UOB Management Associate Program ( 1 2 3... Last Page)
216 Replies, 111,891 Views
Compare civil service salary ( 1 2 3... Last Page)
7,538 Replies, 4,385,819 Views
ITE Polytechnic Scheme ( 1 2 3... Last Page)
71 Replies, 44,032 Views
DBS Management Associate Program... ( 1 2 3... Last Page)
437 Replies, 88,614 Views
Queries about Cpib application ( 1 2 3... Last Page)
977 Replies, 386,040 Views
Need some opinion
9 Replies, 603 Views
Civil Svc/ Statboard - Typical... ( 1 2 3... Last Page)
1,174 Replies, 585,685 Views
Anyone jobless for a long time... ( 1 2 3... Last Page)
1,942 Replies, 743,304 Views
How much are you earning per annum? ( 1 2 3... Last Page)
11,634 Replies, 3,310,033 Views
Credit Suisse - Compliance... ( 1 2 3... Last Page)
96 Replies, 49,981 Views
All about Home Affairs Senior... ( 1 2 3... Last Page)
154 Replies, 141,166 Views
How is life as a doctor in... ( 1 2 3... Last Page)
535 Replies, 618,299 Views
Being an Expat in China ( 1 2)
10 Replies, 1,569 Views
Exxonmobil Commercial Track ( 1 2)
12 Replies, 1,412 Views
Dsta ( 1 2 3... Last Page)
727 Replies, 414,698 Views
Powered by vBadvanced CMPS v3.2.2



All times are GMT +8. The time now is 07:38 AM.


Powered by vBulletin® Version 3.8.5
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.3.2