Choosing a career can be stressful and confusing for many. The important thing is to analyze all aspects carefully, regardless of whether you’re looking for advice or planning to get your master’s degree.
For example, a degree in accounting might seem like the right choice for a few years but confused if that will help accomplish long-term goals.
When we talk about accounting, a business’s success depends on its accountants, who handle all monetary matters to ensure smooth operations.
Every company in operation today knows its accountants are crucial in keeping track of its finances.
Its fair to say that a company’s financial backbone is held together by the accounting department, helping stakeholders make more informed business decisions.
It is also one of the many reasons accountants see steady growth in their careers, regardless of the industry.
While many graduates celebrate the completion of their associates, bachelor’s, master’s, and even doctorate degrees in accounting and finance, they still wonder whether it was the right thing to do.
Accounting is pretty rewarding if you know its perks. Why? Because most candidates don’t plan long term and before they know it, their careers are over.
Lots of options
An accountant can pursue a variety of careers in accounting. Nowadays, the accounting job market is ripe, which means you’re open to exploring the following career opportunities.
- Accounting staff
- Investing accountants
- CPAs, certified public accountants
- Accountants who manage costs
- Accountants specializing in forensics
- Managerial accountants
- Accountants working on projects
- An auditor
- Consultants in finance
- Advisory services for financial institutions
Furthermore, the BLS estimates that there could be over a million accountants in the United States by 2028! If you’re interested in securing your career, you should take advantage of this opportunity.
Rising demand
Since accountants are in constant demand, accounting jobs are advertised almost every day. As a result, accountants, auditors, financial analysts, bookkeepers, and controllers are the most in-demand accounting positions.
The first step for entrepreneurs
Accounting is pretty resourceful, not just as a career but as a skill for business owners as well. How? Since all businesses depend on accountants to make crucial decisions, having a firm grasp of accounting would be valuable to entrepreneurs.
You need to know how to handle accounts and interpret data if you want the business to stay profitable.
It doesn’t take a math genius to succeed in accounting because it’s about quantitative reasoning and problem-solving. Accounting isn’t about being an expert at numbers but about having excellent business skills.
As a business owner or entrepreneur, even if you know the basics of accounting, you’ll be more vigilant towards your capital and have the ability to make more lucrative business decisions.
Be aware of current events
Scandals abound in the accounting industry. Often, we hear stories of financial documents being manipulated for personal gain or seemingly small accounting mistakes having disastrous consequences.
You can explain what these companies did wrong and why it matters if you understand accounting.
In addition, you’ll gain valuable insights into how the latest news regarding finance and accounting might impact your organization.
A Learner for Life
Regulations are constantly evolving, and you will have to follow them as an accountant. Professional development is always possible because there’s something new to learn almost every day.
A few examples of continuous professional development are machine learning, reliance on technology, and tax law changes.
If you are a Certified Public Accountant, you will need to meet ongoing educational requirements. But even if you’re not a CPA, you will still benefit from learning and attending continuing education sessions and seminars.
Get a Better Handle on Your Finances
What happens to all your money after the paycheck is deposited? Gain a deeper understanding of your finances and learn essential skills, such as tracking expenses effectively and sticking to a budget.
You’ll earn a lot of money
The pay scale for accountants is usually competitive, and they make a good living. In the United States, accountants earn an average salary of up to $54,611 per year.
The figure represents 10,600 salaries reported to Indeed between January 26, 2021, and March 31, 2021.
A variety of factors influence an accountant’s earnings.
- The job responsibility
- The position held by the accountant
- The experience level
- The organization
- The educational qualification
- The location
For example, the average annual salary of accountants at the Department of Homeland Security is $102,872. Whereas the average salary of an accountant in Denver, CO, is $66,049 per year.
Accountants are always in demand
Even though there are no guarantees about landing a job when you graduate, accounting professionals are always in demand.
Our economy relies heavily on accounting, which involves managing money. Every business needs at least one accounting professional to manage its accounts and other financial queries.
In most cases, large corporations will have entire accounting departments with hundreds of employees worldwide.
The need for accountants is constant, spanning across all business and industrial sectors, ensuring job security and career longevity.
The Takeaway
A career in accounting offers a good balance between salary and job security.
Even a bachelor’s degree or other qualification in accounting can open many avenues in the corporate world.
It is a field with a vast number of employment opportunities. The profession offers a handsome salary, a host of benefits, many opportunities for career growth, and the possibility of starting your own business.
Learning about financial accounting can prove to be very beneficial regardless of what you’re engaged in at the moment.
Through accounting, you’ll streamline your finances, guide others and earn a lot as well.
Sure, the field itself can be boring because it involves studying laws, regulations, and a lot of numbers. But for those passionate about numbers, problem-solving and overall job satisfaction, opting for a career in accounting is an excellent long-term decision.
