Last Updated on January 4, 2021
Choosing a career is one of the biggest decisions in anyone’s life. Before choosing a career there are many aspects that one considers such as interest, the financial requirement for the degree, available programs and career prospects.
If you have an interest in accounting and numbers are your best friends, then do not worry about your career prospects if you want to pursue a degree in accounting.
We often come across many students who are misguided by people that the market for accountants is being saturated and it is not a good career choice but you will be surprised to hear that by 2026, the demand for accountants will increase by 10 percent. This percentage is more than demand in any other profession and over 1.5 million accountants will get employment in the USA alone by 2026. Sounds great to us!
To excel in any career, choosing the right degree is the first step. If you have a bachelor’s degree in accounting and you think your job is done, then you are wrong. The constant need to upgrade skills and education is the key to being a successful accountant.
If for any reason you cannot register for a full-time Masters’ program, you can register for an online MSA Degree and reach your desired goals.
Before we talk about career prospects, let’s discuss the benefits of choosing accounting as a career.
Accounting is a profession that never goes out of demand. Every organization needs money to run its operations and to handle the finances, they need accountants. Accountants are needed in every organization, whether private or public.
From school to hospitals, from Social Service Agencies to Corporate offices, Accountants are required everywhere. We can confidently say that accountants are successful in finding the job right away if compared to other professions. The demand for accounts is constantly rising and thus it results in stable and more secure jobs.
As per a survey conducted by the Bureau of Labor Statistics in 2018, the average salary of an account was $75,000 USD per annum which has only gone uphill from there. So, if you are concerned about the return on investment i.e. the duration in which you will earn back the amount of money you spend on your degree, then don’t worry. In a short time, you will not only recover the initial investment but also be taking interest in terms of great salary and fringe benefits.
The salary range depends upon the region and industry so you have wide options for job opportunities to choose from.
KNOWLEDGE OF OTHER AREAS OF MANAGEMENT
Heard about the term multitasking, teamwork and diversifying your portfolio? These terms are the judging criterion for many employers while hiring the employees in their organization. If a person has knowledge about various areas and can help other team members in the time of added workload, it is considered a plus when it comes to hiring an employee.
If you pursue an online MSA degree, you will learn about different subjects like microeconomics, taxation, macroeconomics, business law, etc. It increases your chances of expanding your portfolio manifold and higher are the chances of your resume getting noticed by the recruiters. You can also apply for a second job or provide consultancies in other fields or after retiring you can pursue any other field as your second career.
ENDLESS LEARNING AND GROWING OPPORTUNITIES
Once you are done with your bachelor’s in accounting, it is time to enroll in an online MSA degree to increase your knowledge base and make the most of learning opportunities. Online degrees give you an opportunity to work part-time while increasing your qualifications at the same time to upgrade your resume. Many accountants after completing a master’s degree go for multiple certifications such as CPA Certified Public Accountants to grow and excel in their careers.
When it comes to promotions in the field of accounts, continuous growth in knowledge and skill plays a significant role. You can use the help of various networks, certifications, training, and on-job learning to constantly upgrade yourself and get familiar with new practices in your field. If you get a job as an accountant right after graduation, with a master’s degree and CPA, you can reach the position of Director and CFO in no time.
Your handwork will always pay off in this field.
CAN BE YOUR OWN-BOSS
All of us dream of working at a flexible schedule but make good money but only a few lucky ones can do it. Accountants are one of those lucky ones. Accountants, after gaining required education, hands-on experience with well-reputed organizations and building a network of their clients, can easily kick-off their own consultancy firm.
These firms help people with providing consultancies related to financial management in their organization or tax-related issues.
Moreover, many accountants become part-time trainers and visiting faculty members at a college or university. This way they do not only grow their network, learn and continuously improve their learning but also make some good money.
POSITIONS AND FIELDS IN ACCOUNTING SECTOR
Depending upon your interest you can opt for Management Accounting or Public Accounting. Moreover, the option of an Internal Auditor is also open for Accountants. After completing the degrees, based on your skills and experience level you can apply for the positions of Accountants, Auditors, Account Managers, Office Managers, bookkeepers, account receivable and payable clerks, etc.
As time passes and your knowledge and experience increase, you will apply for managerial positions such as Directors and Chief Financial Officers.
If you are thinking of pursuing a degree in the accounting sector, you are one step closer to a successful career. However, we recommend you constantly grow your network and familiarize yourself with changing trends in the field of accounting through networking sessions, certifications, and on-job training to match the requirements for the new job posting. In this way, you can not only apply for full-time jobs with higher responsibilities and salaries but also explore part-time freelance opportunities.
If you keep upgrading yourself, we assure you a bright respectable career in Accounting.