A Reexamination of the Factors Important to Selection of Accounting as a Major

This study reexamines and extends the conclusions drawn from the Felton et al. (FBN) 1994 study that investigated a set of explanatory factors in the decision to choose a career as a chartered accountant (CA). The current study extends the findings of FBN in two primary ways. First, we improve upon their study by adding the students' overall experience in the first accounting course into the analysis. Second, we expand the analysis to include sophomores and juniors rather than seniors only. When we add the students' overall experience in the introductory accounting class into the analysis, it becomes the most important factor in distinguishing major choice between accounting and nonaccounting students. Consistent with FBN, we find that accounting majors place less importance on intrinsic factors and report a higher ratio of perceived benefits to costs of choosing accounting than nonaccounting majors. Unlike FBN, we find that initial earnings, long‐term earnings, and job market considerations rank at or near the bottom in discriminating between accounting and nonaccounting majors. By shedding further light on the factors that attract students to the accounting profession, the results have recruiting, educational, and public interest implications.