While graduates in the past may have been wary of entering the workforce in the volatile economy that characterized the years following the dotcom-bubble-pop and the housing crisis, it may finally be safe to say that today, certain graduates have significantly less to worry about. Business, accounting, and finance sectors regularly see recent post-grads accruing higher salaries than their liberal arts counterparts. But in 2011, the rise in accounting and finance salaries in comparison to other industries was even more pronounced than usual. In fact, accounting and finance salaries for recent graduates has increased by 5%, and projected growth rates for careers in this industry are even higher.

Accounting and finance majors are highly attractive to so many different companies because the students who graduate with them have qualifications broad enough to encompass many careers, but specialized enough that the graduating student is immediately an asset. In 2011 and 2012, a whopping 62% of employers said they were planning to hire accounting majors in the upcoming year. A comparably high 57% of employers agreed that hiring finance majors for their business in the next year was a definite company goal.

The employers weren’t just spewing hot air. By March 2012, employment for accounting and finance majors was at a four year high, particularly in metropolitan areas. As demand grew and 2012 drew to a close, lasting demand throughout 2013 drove salaries up significantly as well. The average salary for accounting graduates in 2012 was $49,700 which rose to $53,300 in 2013, a massive 6.7% increase in a single year. Similarly, finance majors also saw a handsome salary hike, bringing those who graduated with a finance degree up to a respectable yearly income of nearly $53,000 per year.

While the average salary of non-business majors remains at a relatively stagnant $44,928 per year, the rapid growth in spending on business graduates may seem disproportionate. Yet there are a number of macroeconomic factors that are making accounting and finance majors incredibly valuable.

For one, the baby boomer generation – those born between 1946 and 1964 – is starting to retire. While Wall Street has been historically dominated by the older and wiser members of the baby boomer generation, as these workers begin to retire, graduates are becoming a valuable new asset.

Demand for graduates with finance and accounting degrees has increased recently in part due to the growing complications in this work environment brought on by stricter tax codes, intensive government regulation, and new technology. As these professionals close to retirement decrease their workload, graduates are able to step in with more current knowledge, education, and experience that companies need to stay current and compliant with new regulations. Since American tax codes and business practices are more complex, these complexities have driven many companies to raise compensation and even offer signing bonuses to reduce turnover, with the hopes that newly hired graduates will work with them for at least 3 to 5 years and gain extensive understanding of the industry.