There are many different ways to a start an accounting career. While most students begin with accounting education or training, there are several entry-level positions for those who want to take a different path in becoming accountants. Here are five popular entry-level jobs you might want to consider.
Resource: Top 10 Online Accounting Degree Programs
Mortgage Underwriter
Mortgage underwriters help financial institutions determine whether a certain mortgage application should be approved or denied. In order to make a decision, mortgage underwriters analyze a customer’s credit history, monthly income, collateral and outstanding debts. They then use the information acquired to access all the risks involved in approving the mortgage. The job requires individuals who can conduct excellent research, analyze data critically and make wise decisions. Those who apply for mortgage underwriter positions should have at least an undergraduate degree in economics or business. An internship in the banking industry is also a necessity. The starting salary is $35,466.
Financial Analyst
Financial analysts work to mine, consolidate and interpret large quantities of financial information to provide advice, identify developing patterns and make future predictions. In order to do this, financial analysts examine and interpret financial statements, trends in the financial industry and economic forecasts. Their advice can help an organization determine what to buy or sell and understand the benefits and costs of mergers and acquisitions. Job applicants should have at least a bachelor’s degree in commerce or economics. Further education like Masters in Business Administration (MBA) or master’s degree in economics and finance is a plus. According to the Bureau of Labor Statistics, the median salary is roughly $81,000.
Credit Analyst
Credit analysts assess the financial capacities of businesses and individuals and make adjustments or recommendations on their financial commitments. These may include reducing the loan amounts they apply for, extending their lines of credit or closing their credit cards. A majority of credit analysts work with businesses who offer financial services, such as banks. Minimum academic qualifications include a university degree in commerce or economics. The starting salary is $30,000 per year.
Accountant
Accountants research and analyze business data in order to provide financial information to management. They compile and analyze various data to prepare asset, liability and capital account entries and document daily financial information. They summarize financial information by preparing balance sheets, journals, profit and loss statements and other relevant reports. They also ensure safe and ethical practices by developing and recommending policies and procedures. The minimum educational requirement is an undergraduate degree in accounting. Professional certifications such as Certified Information Systems Auditor (CISA), Certified Public Accountant (CPA) or Certified Financial Analyst (CFA) are also highly regarded. The starting salary is $45,000.
Accounts Payable Clerk
Accounts payable clerks work to keep records and monitor outstanding payments owed by their organizations to suppliers. They also analyze invoice and expense reports and record processed work by comparing system reports and verifying entries. Other duties include paying employees, preparing checks, maintaining ledgers and reconciling monthly statements. This job is very useful to someone who wants to establish a stable career as an accountant. The starting salary is $25,000.
Working in an entry-level accounting job can be a start to a potentially rewarding career. It can open doors for career growth and increased earnings. The entry-level accounting jobs discussed here will give you the perfect opportunity to develop great skills and capabilities as a professional accountant.
