Finance and accounting career paths are comprised of a variety of positions that are in high demand. As well as being in demand, these careers pay very well, even for the inexperienced graduates seeking their first position. Students considering accounting as their undergraduate major, should evaluate the following aspects of the industry to ensure they are selecting the right major.
Resource: Top 10 Online Accounting Degree Programs
Demand
Every industry and business needs someone to balance their books. Whether they hire an entire department of people for their financial needs or contract out for certain tasks, every single business has to master their cash flow and taxes at the end of the year. Accounting is considered one of the basics when it comes to business tools. At their core, all businesses have to make money to survive, and finance professionals facilitate that survival.
Starting Salary
While some industries and professions require a decade of experience before a professional can earn top dollar, accounting professionals and financial analysts can make over $50,000 with a few years of experience. According to CNN Money, staff accountants top the list of in demand jobs with good pay. Careers in the accounts payable, account receivable or tax accounting areas may provide quick increases in the base salary a person can expect in their first few years.
Industry Growth
CPAs, staff accountants and auditors are always in demand. Big businesses need accounting and financial professionals, typically staffing their own departments or outsourcing their accounting operations. While some small business owners might have software and the ability to do small financial tasks themselves, they still rely on external accountants to verify their reporting and ask advice. An accountant or CPA won’t find themselves out of work when accountants are needed by business in every single industry.
Varied Opportunities
A student who graduates with a degree in this major can start as a financial clerk or assistant in any industry before moving on to becoming a tax accountant, CPA or auditor. A graduate could start with any company as an in-house accountant or start their own business as a tax accountant. There are auditing positions, management services, income tax preparation, non-profit positions or private industry available in many different sectors. With an accounting degree, a graduate can pick their career path from a wide variety of opportunities.
Challenging
Each day is a challenge as an accountant or financial professional. One day, the professional could be reviewing financial reports, preparing budgets, investigating problems or having meetings with various clients. A person who has majored in accounting can expect to have a full, productive day with various tasks on their desk. The tasks will depend on what path the graduate has taken with their major in accounting, though.
Students seeking an accounting or finance position after graduation will have many options available to them. The pay for professional in this field is higher for recent graduates than most other fields, and students can expect to find a job immediately after graduation.
