One of the more in-demand fields for young graduates is accounting. Why? Well, you can’t have an innovative economy, or even a healthy economy, without quality bookkeeping at all levels. This math-centric occupation requires graduates to have skills that set up the financial controls and systems that help companies succeed.
The job market really comes down to supply and demand, and there’s never much of a dearth of accountants, but there’s a constant need for this position to be filled. If you’re involved in the recruiting or placement world, you will see that there’s a shortage of accounting and finance candidates, often because these majors tend to be difficult and many people avoid the business path while in college. That means that anyone graduating with a finance or accounting degree is basically guaranteed a job if they are able to perform at a certain level while in school.
In fact, many of these finance and accounting jobs are so high in-demand that there are graduates with starting salaries at more than $50,000 just weeks after their graduation ceremonies. If you work for one of “The Big 4” accounting firms, starting salaries for CPA candidates can be as high as $68,000. Companies at home and abroad desperately need talented accountants, and it behooves the younger generation to consider making this their career, or at least major or minor, of choice,
In Demand Skills and Credentials
While an accounting degree puts you on track for a rewarding career in finance, you have a leg up on the competition and essential make yourself fire-proof if you attain one of the following credentials:
- CPA (certified public accountant)
- MBA (master of business administration)
- CFA (chartered financial analyst)
- CGMA (chartered global management accountant)
- CIA (certified internal auditor)
- CISA (certified information systems auditor)
- CMA (certified management accountant)
- CPP (certified payroll professional)
- PMP (project management professional)
If you pass the CPA Exam and become a certified public accountant, you will have a lifetime of stability because of your designation and specialized skill set. Accountants have skills that surpass math proficiency. They are equipped with soft skills that directly relate to their specific role within a company. Adaptability, organizational, problem-solving, and analysis are some of the critical skills that accountants encompass.
Having the CPA certification is just a way of telling your employer and future bosses that you’re ready to take on the next type of challenge. You will say goodbye to entry-level and menial tasks once you have this initialism next to your name, so it’s really a matter of status as much as it is a way to prove it to yourself and your peers.
Accounting as a Stepping Stone
The world needs accountants, so it’s a smart decision to major in accounting. Not only are you guaranteed a job, but also you set the groundwork for any managerial or entrepreneurial dreams you may have. Accounting is much more than most expect. Accountants understand the most complex issues in a business.
This means that accountants can go on to other positions, like CEO, because they draw together both numeric and non-numeric concepts to effectively manage an organization. Much of what an accountant knows comes from the bottom line and vital signs of the business, so it’s a logical move for this individual to become part of the C-suite at some point in their career.
You can’t go wrong with an accounting degree. You will gain a skill set that will prepare you for a lifelong career in business or any other field that accounting can take you. The options are endless.
Jason Galaif CPA, San Diego, California
Jason is a working CPA who has helped hundreds of students pass their exams by breaking down the best cpa exam prep courses and materials. He currently resides in sunny San Diego.