Can I break in with an accounting degree?
I'm planning on majoring in accounting with a minor in real estate from a target school. Do firms take accounting majors for acquisitions or only finance backgrounds? Thanks!
Absolutely, you can break into acquisitions with an accounting degree, especially if you're coming from a target school. Based on the most helpful WSO content, accounting majors are often valued for their strong understanding of financial statements, revenue drivers, and cash flow mechanics—skills that are critical in acquisitions. Many firms appreciate the technical expertise accounting majors bring, particularly when dealing with complex financial structures or due diligence processes.
Here’s why your background works:
Accounting Skills Are Transferable: Your accounting foundation will help you excel in areas like due diligence, valuation, and deal structuring. These are key components of acquisitions, and firms often rely on accountants for these tasks.
Real Estate Minor Adds Value: Combining accounting with real estate gives you a niche edge, especially if you're targeting real estate acquisitions or private equity firms focused on real estate. This dual focus can make you stand out.
Pathways to Acquisitions: Many accountants transition into acquisitions roles by starting in public accounting (e.g., Big 4 firms) and gaining experience in valuation, M&A advisory, or due diligence. Networking and leveraging your target school alumni network will also be crucial.
Firms Do Hire Accounting Majors: While finance backgrounds are common, accounting majors are not excluded. In fact, some firms prefer candidates with a solid accounting base for roles that require deep financial analysis.
To maximize your chances: - Pursue internships in M&A advisory, corporate finance, or real estate investment firms. - Consider obtaining certifications like the CPA or CFA to further bolster your profile. - Network aggressively with alumni and professionals in the acquisitions space.
Your accounting degree, paired with your real estate minor, positions you well for acquisitions roles. Just ensure you gain relevant experience and build a strong network to bridge the gap!
Sources: Life in Acquisitions (Analyst/Associate), Switching from Big 4 to Acquisitions: My Story, Accounting vs Finance: Part 1 – Career Paths
Accounting is a solid background. Lots of senior guys in REPE who started at Big 4 accounting firms and transitioned to CRE.
I think for pure play MM RE sponsors accounting is great. UMM/MF probably less so. That said personally know a lot of guys, incl several very senior guys at PERE100 shops with accounting degrees, not to mention a ton of developers and operators.
Would strongly recommend that you spend time either learning about development (law, construction, etc.) or investment finance though, would save you a lot of headache trying to pick up the key concepts on your first job out of school which becomes exponentially harder out of the classroom.
If your school has a reputable accounting program then it will help. I graduated from a top five accounting program and have worked in acquisitions and development.
I highly recommend an accounting degree to prep for a RE investments or development career. Be open to eventually position yourself as a CFO of an asset intensive company, and maybe it’s CEO.
That means:
Be able to sell to customers, partners, management team members, investors
How do you get there?
Get some RE experience and learn how to do an accountant’s job.
Of course you can.
You have to abandon accountant-style social skills though ;)
I’m a career switcher from big 4 audit to acquisitions at a large fund. Very common background. My accounting knowledge has been invaluable to my general business sense in all facets of my career. That being said, you are so young and already on WSO, and already know you want to be in RE, majoring in finance will be a much better set up. Do that and land some internships at the major brokerages, and you will set up well and be competitive wherever you want to be at. Plus I think it’s easier to get a high GPA in finance than accounting. I don’t use GAAP at all in my day to day. You will also get likely asked why accounting in interviews which is easy to answer but why deal with it.
Just my 2c having been in your shoes but in a worse position having to convince someone to take a chance on a CPA staff auditor..
How much does GPA matter?
I would aim for 3.7 for an analyst role at a top principal investor if that’s where you want to be. That being said if you interned at a great investment sales group, and that group vouched for you (because we all know each other), 3.5-3.6 maybe below that May not matter. Same poster, updated title.
This is real estate. You can network your way into just about anything. The large institutional shops have similar barriers to entry as a lot of traditional finance jobs. But if you’re willing to work for a regional operator it really just takes convincing one person that you’re hungry and eager to learn to get a foot in the door.
I’ve actually never gotten a job through the traditional HR screening/interview process. So I’m either really bad at interviewing or I’m good at convincing people in positions of power they need me on their team. I wouldn’t call this route typical but I personally find it easier convincing a 9 figure net worth guy I can make them money than rehearsing strengths and weakness Q&A for HR.
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