3 Vital Reasons to Have a Career in Accounting

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Perhaps you have decided to switch to a new career path. Of course, everyone out there is looking for more advancement opportunities, better career prospects, and enough potential to keep themselves satisfied. That career might be accounting because it offers plenty of lucrative opportunities. Here is why you should consider switching over to accounting.

Plenty of Opportunities

Every organization whether it is a small business, government agency, multinational corporations, or nonprofit needs an accountant. Recent research projects that accountants demand will increase significantly in the next decade. Unemployment rates among accountants are lower than the overall unemployment due to plenty of job opportunities. A degree as an accountant prepares you for jobs in fields such as business analytics, business forecasting, and finance. Accountants have all it takes to provide problem-solving, analytical, and financial skills and expertise essential in the modern economy.

Every business requires an accountant to run successfully, and changes in tax laws and regulations around the world are making the 21st-century economy even more complicated. However, accountants or any other professional with vast knowledge and skills in accounting can help organizations navigate any of the complexities or changes. Besides a high demand for accountants, accounting jobs offer attractive benefits and compensations. A recent report by BLS shows that a median for any professional in the accounting field is approximately $70,000 per year. However, highly qualified and knowledgeable accountants can earn more than that. An average accounting manager or forensic accountant can make close to $90,000 yearly. Accountants with advanced degrees or CPA can earn even more than that after just a few years of practice. 

Get an Opportunity to Work with Purpose

Accountants often find fulfilling careers doing consulting, tax, and auditing work for their accounting firms. Their jobs often bring plenty of travel opportunities and promote teamwork. Accountants with interest in entrepreneurship can choose to work for a startup or start their accounting firms. Perhaps the most exciting thing with switching from engineering or dentistry to accounting is that you will bring all that experience with you to the field of finance and accounting.

For example, an engineer will still have an opportunity to explain engineering concepts to people they work with as accountants. A degree in accounting will also help someone who has spent a few years as a sales agent to forecast their sales. Teachers with experience as an accountant can leverage their knowledge and skills to set financial goals for their colleagues. Combining a background in another field with expertise and experience in accounting can make a professional more competitive and qualified for many job opportunities. 

Choose Your Career Path

Though high pay rate and plenty of opportunities are great, these aren’t the only benefits of working as an accountant. It is time to rethink if you thought of accountancy as a career where you only spend days bent over a laptop or flipping through files. Analyzing financial data and crunching the numbers is an essential skill in accountancy, but communication, creativity, and problem-solving skills play a critical role in the success of an accountant. Accountants play a significant role in society and can help an organization make informed financial decisions.

One of their functions is to provide fiscal insight, which companies can use to know when to launch a new product, avoid risky ventures, and spot new market opportunities. Accounting professionals are also financial accuracy guardians across the economy. An accountant can help a company find ways to avoid wasteful ventures, measure the impact of its initiatives on the environment, and protect itself against fraud. In short, a degree in accounting prepares any professional for many career paths. You can rise from an accountant to become a CEO or a financial officer.

Accountants who work in government agencies or nonprofit organizations can help their companies fulfill a societal mission. All it takes to switch over to a career in accounting is to get educated. Perhaps you don’t have an accounting degree, but you can still go back to school and pursue an accounting course in as short as a year. However, advanced accounting programs are open to people from different undergraduate degrees such as teaching, English literature, and finance. Online accounting degrees allow students to take classes as they work.