Taxation

Types of Degrees Taxation Majors Are Getting

The following table lists how many taxation graduations there were in 2020-2021 for each degree level.

Education Level	Number of Grads
Master’s Degree	1,297
Graduate Certificate	53

What Taxation Majors Need to Know

In an O*NET survey, taxation majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.

Knowledge Areas for Taxation Majors

This major prepares you for careers in which these knowledge areas are important:

• Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
• Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Skills for Taxation Majors

taxation majors are found most commonly in careers in which the following skills are important:

• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Speaking - Talking to others to convey information effectively.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Abilities for Taxation Majors

A major in taxation will prepare for your careers in which the following abilities are important:

• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.

What Can You Do With a Taxation Major?

People with a taxation degree often go into the following careers:

Job Title	Job Growth Rate	Median Salary
Accountants	10.0%	$70,500
Auditors	10.0%	$70,500
Financial Examiners	9.7%	$80,180
Tax Preparers	10.7%	$39,390

Who Is Getting a Master’s Degree in Taxation?

Roughly 52% of the graduates are women, and 48% are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of taxation majors is as follows:

Race/Ethnicity	Number of Grads
Asian	236
Black or African American	67
Hispanic or Latino	124
White	676
International Students	86
Other Races/Ethnicities	108

Geographic Diversity

Taxation appeals to people across the globe. About 6.6% of those with this major are international students. The most popular countries for students from outside the country are:

• China
• South Korea
• India
• Vietnam
• Canada

How Much Do Taxation Majors Make?

Master’s Degree Starting Salary

The median starting salary of students who graduated in 2017-2019 with a master’s degree in taxation was $73,839 per year. These stats come from the U.S. Department of Education. During this timeframe, most salaries fell between $68,111 (25th percentile) and $82,194 (75th percentile).

It is possible that some of these people may have taken positions that were not related to taxation.

Salaries According to BLS

Average salaries range from $46,860 to $78,820 (25th to 75th percentile) for careers related to taxation. This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Amount of Education Required for Careers Related to Taxation

Some careers associated with taxation require an advanced degree while some may not even require a bachelor’s. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

Find out what the typical degree level is for taxation careers below.

Education Level	Percentage of Workers
High School Diploma - or the equivalent (for example, GED)	12.6%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production)	1.9%
Some College Courses	14.9%
Associate’s Degree (or other 2-year degree)	10.0%
Bachelor’s Degree	46.7%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	3.3%
Master’s Degree	11.1%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.	0.1%

Online Taxation Programs

In the 2020-2021 academic year, 114 schools offered some type of taxation program. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level	Colleges Offering Programs	Colleges Offering Online Classes
Certificate (Less Than 1 Year)	0	0
Certificate (1-2 years)	6	2
Certificate (2-4 Years)	0	0
Associate’s Degree	6	1
Bachelor’s Degree	22	3
Post-Baccalaureate	0	0
Master’s Degree	77	7
Post-Master’s	4	0
Doctor’s Degree (Research)	1	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Is a Degree in Taxation Worth It?

The median salary for a taxation grad is $60,500 per year. This is based on the weighted average of the most common careers associated with the major.

This is 52% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $412,000 after 20 years!

Majors Related to Taxation

You may also be interested in one of the following majors related to taxation.

Major	Number of Grads
Business Administration & Management	131,555
Management Sciences & Quantitative Methods	31,701
Accounting	19,309
Human Resource Management	12,117
General Business/Commerce	9,137
Finance & Financial Management	5,784
Marketing	4,011
Management Information Systems	2,766
International Business	2,007
Entrepreneurial Studies	1,823
Hospitality Management	1,341
Real Estate	1,280
Other Business, Management & Marketing	1,073
General Sales & Marketing	537
Construction Management	466
Specialized Sales, Merchandising & Marketing	180
Business/Managerial Economics	162
Insurance	143
Business/Corporate Communications	117
Telecommunications Management	23

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020

More about our data sources and methodologies.