Even though accounting is not the number one career choice for everyone, it doesn’t mean a career in accounting isn’t prosperous and interesting. A benefit associated with the accounting field is there are a vast number of options, allowing you to choose the best fit for you. The best way to think of any major field of study in college but in particular accounting is car shopping: there will be people that want reliability and safety over performance and speed, which other people will prefer. With any career decision, there will always be advantages and disadvantages associated with a field and their prospective professions. While you never stop learning in an accounting career, the work may seem boring at times, the hours can be long around tax season, and as with any job the job may become stressful, there are still many advantages that may make the disadvantages seem minuscule. Listed below are some reasons why even with the disadvantages, a career in accounting makes sense.
When you’re studying accounting in college, you are learning skills you are able to apply in the real world once you graduate including analyzing numbers, interpreting them, and even making decisions for your company based on your position and the numbers. Unlike some other careers, you know what you studied in college will directly apply in a career, where a broader unfocused major such as communications doesn’t have a clear direction for a career after college.
The field is expanding:
The accounting field has been expanding over the past several years, and it seems that trend will not go away at any point in the near future. Every business needs an accountant or an accounting department, and even at times, there are individuals that need to hire an accountant for tax purposes. According to the US Bureau of Labor Statistics, the accounting field is expected to have the most growth out of any field by jumping 10% in job growth and positions from 2016 to 2026.
The options are endless:
When you begin a career in accounting once you graduate or later on in life, you are not stuck in that position for the rest of your life. Sure, you may only start out at an entry-level position, but the limit for growth is endless. Once you learn the basics of your position, you are able to move up and take examinations for different roles, such as a certified public account or CPA. Whichever option you should decide, there are roles waiting for you in accounting where you are able to show your skillset and expand your knowledge in the accounting field.
The future value of your income is substantial:
While money should not be the primary motive for choosing a potential profession or career, it should still be heavily taken into consideration if you have a family to provide for and expenses to pay. The average pay for an accountant is around $69k a year, which is almost double the national average salary of $37k a year. While $69k is the average, the pay increases to about $120,000 which about 10% of individuals in the accounting field earn. In addition to competitive pay, there are also benefits including paid time off, 401K, healthcare and many more.
Work at any location:
If you want to stay local or move to a different area, you don’t have to worry about where you will be employed. There will always be need for an accountant in about any region of the world, where it be a rural mountainous area or a bustling city. As stated before, everyone from mechanics to an engineering firm has the necessity for an accountant so you are able to take your skills and experience with you anywhere.
A future where you can open your own firm:
In any career you choose, you are able to start your own business. However, in the accounting field, there is a higher chance for anyone in the field to start a business. To further elaborate, someone in the profession of communications may not start their own media company, but an accountant more than likely will start their own accounting firm at some point in their career. As with starting any business, there are advantages and disadvantages but it’s worth knowing that you are entering a field where the potential for starting a business is highly encouraged.