Is Accounting a Good Career Choice?
You’re already on the right path if you know that you want to be an accountant or if you’re already in the accounting field. Ranked among the best business jobs, accounting is also highly ranked among jobs overall. Not to mention, there are chronic talent shortages when it comes to filling accounting positions. Hiring is robust, and accounting professionals are well compensated.
Whether you’re new to the workforce or you’re seeking a career change, there are a variety of options available to accounting professionals. As businesses comply with new regulations along with completing system implementations, there is a need to hire more staff, including payroll specialists, financial analysts, and senior accountants.
Just Getting Started
If you’re starting in accounting, you’ll likely begin in an entry-level accountant position and work your way up toward managerial positions. The highest level you can reach is a CFO role.
While you’re not required to hold an accounting certification, you may want to consider pursuing such certifications to increase your earning potential. And, of course, obtaining your CPA early in your career will open doors for you and will boost your chance for promotions.
Navigating Accounting Options
Deciding on a path for your accounting career can be confusing due to the abundance of choices. Not only do you have a variety of options in accounting positions, but you can also choose to work in almost any industry. Every business needs an accountant.
While there are many accounting career paths, keep in mind that as you gain certifications and perhaps your CPA, you will continue to shape your career. As your professional life evolves, your interests may shift.
Listed below are descriptions of accounting positions that are currently in demand and that may pique your interest. These starting salaries do not include bonuses and benefits, as well as other incentives employers may offer.
1. Bookkeeper:
Record financial transactions. Update statements. Produce financial records. Receive and record payments. Post debits and credits and reconcile accounting books. The median starting salary nationwide is $36,500.
2. Staff Accountant:
Prepare monthly reports, income tax returns, and financial statements. Maintain general ledgers, records, and financial reports. Analyze budgets and handle general bookkeeping. The median starting salary nationwide is $64,250.
3. Financial Analyst:
Research profitable investment opportunities for an organization. Study past and present financial data. Analyze business and economic trends. Make investment recommendations for a business’s growth. Median starting salary nationwide is $69,250 ($85,500 for senior financial analysts).
4. Auditor:
Examine financial statements, ensuring they comply with the law. Assess financial operations to ensure a business is as efficient as possible. The median starting salary nationwide is $116,500.
5. Controller:
Oversee preparation of balance sheets, income statements, future earnings analyses, and other financial reports that summarize a business’s financial standing. Supervise audit, accounting, and budget departments. Prepare regulatory business reports as required by the government. The median starting salary nationwide is $121,000.
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