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Taxation Major

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Taxation

1,553 Master's Degrees Annually
#83 in Popularity (Master's)
$60,500 Median Salary

Types of Degrees Taxation Majors Are Getting

The following table lists how many taxation graduations there were in 2018-2019 for each degree level.

Education Level Number of Grads
Master’s Degree 1,553
Graduate Certificate 58

What Taxation Majors Need to Know

O*NET surveyed people in occupations related to taxation and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.

Knowledge Areas for Taxation Majors

According to O*NET survey takers, a major in taxation should prepare you for careers in which you will need to be knowledgeable in the following areas:

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  • 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:

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  • 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:

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  • 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?

1,553 Master's Degrees Annually
52% Percent Women
30% Percent Racial-Ethnic Minorities
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:

Racial-Ethnic Diversity of Taxation Students with Master's Degrees
Race/Ethnicity Number of Grads
Asian 224
Black or African American 58
Hispanic or Latino 153
White 817
International Students 139
Other Races/Ethnicities 162

Geographic Diversity

Students from other countries are interested in Taxation, too. About 9.0% 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 2015-2017 with a master’s degree in taxation was $71,650 per year. These stats come from the U.S. Department of Education. During this timeframe, most salaries fell between $64,625 (25th percentile) and $77,150 (75th percentile).

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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 you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.

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.

Median Salary for a Taxation Major  ( 46860 to 78820 )
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250K
Median Salary for a High School Graduate  ( 30000 to 57900 )
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250K
Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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250K

Some degrees associated with taxation may require an advanced degree, while others may not even require a bachelor’s in the field. 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.

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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 2018-2019, 113 schools offered a taxation program of some type. 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) 24 4
Certificate (1-2 years) 4 1
Certificate (2-4 Years) 0 0
Associate’s Degree 6 0
Bachelor’s Degree 18 3
Post-Baccalaureate 24 4
Master’s Degree 79 17
Post-Master’s 3 0
Doctor’s Degree (Research) 0 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!

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

Major Number of Grads
Business Administration & Management 410,147
Accounting 105,123
General Business/Commerce 58,451
Finance & Financial Management 56,186
Marketing 51,241
Human Resource Management 26,823
Management Sciences & Quantitative Methods 23,738
Business Support & Assistant Services 19,483
Hospitality Management 19,042
Management Information Systems 14,747
Entrepreneurial Studies 10,427
International Business 10,181
Business/Managerial Economics 6,345
Specialized Sales, Merchandising & Marketing 5,873
Other Business, Management & Marketing 5,834
General Sales & Marketing 5,734
Real Estate 5,700
Construction Management 3,664
Insurance 2,218
Business/Corporate Communications 968
Telecommunications Management 71

References

More about our data sources and methodologies.

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