Deciding about your professional journey is one of the most challenging decisions you have to make. There are various factors that you need to consider before you choose your career path. For instance, how motivated are you to pursue a certain degree? Or how much of your interest lies in a field? Finding answers to these questions can be a grueling task. Luckily, if you are considering accounting as your profession, we’ve got some answers for you.
Firstly, let’s get a popular misconception out of the way; accounting is not dull or tedious. In contrast, it’s pretty instructive, captivating, informational, and highly remunerative. Accounting is one of the most in-demand degrees at the moment. The scope for accounting professionals is skyrocketing. However, this is just a tiny part of the big picture. Read below to find out several more convincing reasons to pursue an accounting degree.
Provides a variety of career choices in accounting roles
The best part about becoming an accountant is that the profession does not restrict you to one role. In reality, professionals with accounting degrees can work in several different functions. You can go into auditing, management, consultancy, etc. However, your position will also depend on your level of education. Some famous jobs with a bachelor’s degree in accounting include:
- Financial analyst
- Budget analyst
- Staff accountant
- Tax reviewer
- Staff auditor
On the other hand, with a master’s or even a higher-level degree in accounting, you can pursue the roles of:
- Financial manager
- Head of auditing
- Lead accountant
- Senior analyst
So, if you are looking to work in upper management, with only a bachelor’s degree, going back to school for accounting might be a good idea. Remember, the higher your education level, the greater your worth in the field.
Requires less mathematical skills
Another famous misconception about accounting degrees is that it is best suited for math geniuses only. It is entirely incorrect since accounting only requires a few basic number-crunching skills. Accounting has very little to do with mathematics.
Moreover, thanks to the rapid and expansive advancements in technology, many software are available for accountants to make their jobs much more manageable. Now, accountants’ focus has diverted more towards client guidance and consultancy than number crunching and data entry.
Exposure to multiple industries
An accounting degree doesn’t shut any windows of opportunities, whether within the accounting world or in entirely different industries. If you do not wish to work in the finance field even though you carry an accounting degree, there is no need to worry. Professionals with accounting backgrounds are in huge demand in several other industries as well.
Besides, becoming an accounting helps you acquire skills that are useful for and applicable in any field. It can be fashion, journalism, stock markets, or others. An accounting degree hones several essential skills such as leadership, analytics, communication, problem-solving, and so forth. Degrees in accounting will help you traverse to another career type. All you need to do is allow yourself sufficient time and figure out where your interest lies.
Provides global opportunities
Accounting is a globally recognized profession involving mostly universal principles, which makes it a highly portable qualification. Besides, there is a need for accounting professionals almost everywhere in the world. So, if you are looking to relocate, an accounting background might be a good fit for you. You won’t require much technical training, and you might be able to land a good job reasonably.
Furthermore, accounting certifications like CA (Chartered Accountant), ACCA (the Association of Chartered Certified Accountants), or CFA (Chartered Financial Analyst) are globally recognized and equally valued everywhere in the world.
High earning potential
One of the most attractive factors about pursuing an accounting degree is the excellent pay. Any other field does not give you the kind of financial stability, such as an accounting degree. Glassdoor confirms that the US’s national average salary for global accountants per year accounts for nearly $55,509. That figure speaks for itself.
The highest paying accounting role is of a finance president (approximately $130,000), followed by the CFO ($120,000 approximately) and Tax manager ($110,000 approximately). A fresh accounting graduate in the US can earn about $46,602 annually.
Of course, your pay will also hugely depend on your education level and qualifications. Your geographic location also plays a vital role in deciding your income. Firms in metropolitan areas offer higher pay as compared to organizations in smaller cities.
An accounting profession will make you capable of solving real business problems. You will have a clear and concise idea about Finances, Taxation, and Business Law. Similarly, you can even try your luck with entrepreneurship and start your venture, providing financial services.
You will be part of an increasingly competitive market with good pay. Not only that, but your value and worth will be incomparable. And not to forget, the unmatchable job security you will receive.
If you are a confused, perplexed business student looking for career choices, accounting is probably the best option.