I know that many people are thinking about starting their careers in the Accounting field. The purpose of this Blog is to help you make this important decision an educated one. Unlike regular Job Search Sites, we collect information from thousands of sources including all major Job Boards and internal postings from companies’ websites.
When you consider Accounting Careers there are plenty of options. Please click on the Jobrolls to start your Job Search immediately.
Financial accountants prepare financial statements based on general ledgers and participate in important financial decisions involving mergers & acquisitions, benefits/ERISA planning and long-term financial projections. The work can be varied over time. One day you may be running spreadsheets. The next day you may be visiting a customer or supplier to set up a new account and discuss business. This work requires a good understanding of both accounting and finance.
Management accountants work in companies and participate in decisions about capital budgeting and line of business analysis. Major functions include cost analysis, analysis of new contracts and participation in efforts to control expenses efficiently. This work often involves the analysis of the structure of organizations. Is responsibility to spend money in a company at the right level of our organization? Are goals and objectives to control costs being communicated effectively? Historically, many management accountants have been derided as "bean counters". This mentality has undergone major change as management accountants now often work side by side with marketing and finance to develop new business.
Work in audit involves checking accounting ledgers and financial statements within corporations and government. This work is becoming increasingly computerized and can rely on sophisticated random sampling methods. Audit is the bread and butter work of accounting. This work can involve significant travel and allows you to really understand how money is being made in the company that you are analyzing. It’s great background!
Budget analysts are responsible for developing and managing an organizations financial plans. There are plentiful jobs in this area in government and private industry. Besides quantitative skills many budget analyst jobs require good people skills because of negotiations involved in the work.
Tax accountants prepare corporate and personal income tax statements and formulate tax strategies involving issues such as financial choice, how to best treat a merger or acquisition, deferral of taxes, when to expense items and the like. This work requires a thorough understanding of economics and the tax code. Increasingly, large corporations are looking for persons with both an accounting and a legal background in tax. A person, for example, with a JD and an CPA would be especially desirable to many firms.
Whatever your talents, interests, and educational background, there is a Career in Accounting for you. No matter what path you choose to follow, on behalf of all bankers, I wish you success and personal fulfillment in the career of your choice. Hopefully my Blog will assist you in your journey.
Good luck in your Job Search.
work for businesses to help them or their clients make investment decisions. Analysts must have a bachelor’s degree, often in business administration, accounting, statistics or finance, analysts with a master’s degree in business administration will find themselves among the most desirable employees.
Average salary: $58,205/year*; With benefits and bonuses: $73,594
use their knowledge of investments, tax laws and insurance to recommend financial options that help individuals meet their short- and long-term goals. Advisors with a bachelor’s degree in accounting, finance, economics, business mathematics or law will have the best opportunities for jobs in their field.
Average salary: $66,405/year; With benefits and bonuses: $85,553
analyze, plan, evaluate and advise on matters of accounting theory and practice. A bachelor’s degree in accounting or a related field is usually required, but those with a master’s degree or experience to boot will have better job opportunities.
Average salary: $43,215/year With benefits and bonuses: $52,813
examine and analyze accounting records and prepare financial reports for clients. Auditors usually need a bachelor’s degree, but as with accountants, experience and advanced degrees increase their chances of getting hired.
Average salary: $57,365/year; With benefits and bonuses: $68,138
assist individuals and organizations in applying for loans, assess the individuals’ creditworthiness and help them determine the most appropriate type of loan for his/her needs. Employers usually require loan officers to have a bachelor’s degree in finance, economics or a related field. Loan officers will find experience in banking, lending or sales and knowledge of computers to be huge assets in their job search.
Average salary: $48,318/year; With benefits and bonuses: $58,685
keep track of accounts that are overdue and attempt to collect payment on them, making computer literacy and good communications skills a must in this job. Most collectors are required to have at least a high school diploma; however, employers prefer workers who have completed some college or who have experience in other occupations that involve contact with the public.
Average salary: $27,960/year; With benefits and bonuses: $33,215
cash checks, accept deposits and loan payments and process withdrawals. They also may sell savings bonds and travelers’ checks, accept bill payments and process paperwork. Most tellers have at least a high school diploma, but people with bachelor’s degree in business, accounting or liberal arts may get jobs as tellers to break into banking with the hopes of being promoted.
Average salary: $19,828/year; With benefits and bonuses: $24,793
buy the goods and services a company needs either to resell to customers or for the establishment’s own use. Educational requirements vary with the size of the organization, but many manufacturing firms prefer applicants with a bachelor’s or master’s degree in engineering, business, economics or one of the applied sciences.
Average salary: $44,919/year; With benefits and bonuses: $54,428
direct an organization’s financial goals, objectives and budgets. Their duties may include overseeing the investment of funds and executing capital-raising strategies. Employers require a bachelor’s degree in accounting, finance, economics or business administration; however, employers increasingly are placing emphasis on advanced degrees in these fields.
Average salary: $97,645/year; With benefits and bonuses: $130,957
provide analysis and assistance to help companies develop their annual budgets, decide how to allocate current resources and estimate future financial requirements. A bachelor’s degree — often in finance, economics, accounting, business, statistics, political science or sociology — is the minimum requirement for most employers, but an advanced degree is often preferred and sometimes required.
Average salary: $55,566/year; With benefits and bonuses: $67,586
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Do you really like your career? Is it very stressful? How is the pay? Is it rewarding? What career paths do you recommend?
Thanks
Depending on the type of accounting you do, tax season can be very stressful. From the first of the year up until April 15th, or so. My friend does accounting work for a large insurance company. The plus side is that he’s always in demand by various businesses, so jumping ship would be easy for him. The downside is that he says the job is dull as hell. Personally, that seems like my idea of purgatory. But to each their own. Try and job shadow somebody, or get an internship to test the waters. Sometimes seeing the environment you may be working in can really open your eyes. Good luck!
I don’t have any direct accounting experience, but have a Masters in Business Admin. Please advise??? I want to become a CPA. Should I take the exam first, or try to get the experience first?
Take a good CPA review course. Take the exam after the course. In the mean time find an entry level accounting job to get your required experience.
Accounting can be a very rewarding experience. An Accounting career can be used to springboard you into management & company ownership.
There are numerous tracks but the main tracks are Public Accounting and Corporate Accounting.
In Public Accounting, you can have two types of careers…auditing or tax. As an auditor, you will audit a corporation’s financial statements to assure that they are presented in GAAP. A tax professional prepares tax returns for Corporations and Individuals.
Corporate Accounting is where you will record transactions for an organization. Corporate Accounting is much more detail oriented if it is done correctly. I have seen many public accounting professionals go into a corporate accounting environment and screwed the whole thing up because they are unable to deal with the details involved. Dependent on what your job is within a corporation, you could do a part of the accounting or the whole thing. This includes Accounts Receivable, Accounts Payable, Payroll, Tax, and General Ledger.
I have worked in both environments. For me, corporate accounting is better. I like to be in an environment where I can instigate where the transactions will go and assure that the cash and other accounts reconcile in the 1st round. I enjoyed public accounting but I had a problem with the time factor especially in situations where the books of a client were in a total mess. CPAs do not usually budget for messes within a client’s books. My conscience does not allow me to just glance over a set of books from a client that are a total mess. People can do this but I just can’t. I want to fix it for the client and then finish the CPAs work.
In favor of the Public Accountant, an auditor is prohibited from offering clean-up services to a client. Most cases will require the CPA to hire another CPA firm to clean up the mess. Then, the auditor will return to the client’s location to complete the audit. If this is not done, there is a conflict in terms of independence. The auditing CPA does not usually give a bad opinion on financials unless the company is unco-operative.
In the end, unless you have a real talent for this field and there is nothing else you can do, go for it. If you have another talent other than accounting where you can make money, change your major and run away as fast as your legs can take you. The industry stinks and is one of the lowest paying jobs in corporate America. For example, an engineer makes $100K a year where the accountant will make $60 to $70K a year. The money does not make up for all the stress involved.
My uncle was also a CPA. His motto was when I got my 1st job at a CPA firm, "Welcome to the funny farm." Just remember that.
Can someone please list some possible careers for an accounting major? My boyfriend has one year left, and is freaking out because he doesn’t know if there is anything else really he can have as a career besides being a CPA or whatnot. Thanks
actuary
auditor
benefits administrator
financial analyst
loan administrator
underwriter
personal finance manager
securities broker
claims adjuster
FBI or CIA agent
IRS investigator
internal auditor
Top minority accounting students, destined to become future leaders of the CPA profession, attend a 2-day workshop where leading CPAs provide information about the CPA Exam, volunteerism and choosing the right path.
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Top minority accounting students, destined to become future leaders of the CPA profession, attend a 2-day workshop where leading CPAs provide information about the CPA Exam, volunteerism and choosing the right path.