Academically reviewed by Thomas Francl, MBA, CMA, GSD
Are you thinking about becoming an accounting major, but wondering what accounting degree jobs will be available post graduation? The good news is you’re looking at a field brimming with opportunities. Accounting professionals are in high demand and are prized for their ability to manage the financial nuts and bolts that keep businesses running smoothly. With an accounting degree, you gain not only the expertise to navigate complex financial landscapes but also the skills to make a real impact in any organization. This degree opens up a world where numbers tell stories, and those equipped to interpret them are highly valued.
But the real beauty of an accounting degree lies in its broad utility. It doesn’t just prepare you for crunching numbers; it sets you up for various exciting paths. Whether you want to audit the biggest firms, advise startups, or manage public funds, the skills you learn can take you there. You’ll find accountants everywhere, from the glitzy high-rises of corporate finance to the dynamic arenas of public service and beyond. No matter where you go, your accounting degree opens doors, offering you a foundation for a career that’s as stable as it is dynamic.
In This Article:
- Why Study Accounting?
- Essential Skills for Accounting
- Three Primary Fields for Accountants
- Jobs for Accounting Grads
- The Importance of Certifications
- Embracing Opportunities in Accounting
Why Study Accounting?
Studying accounting offers more than a pathway to a well-paying job; it’s a gateway to becoming an integral part of any business operation. The role of accountants is critical—they ensure businesses run transparently and efficiently, a necessity in any economic climate. This responsibility brings a significant perk: job security. The demand for skilled accountants is consistently strong, a testament to their indispensable role.
The financial rewards in accounting are substantial, with competitive salaries reflecting the critical nature of the work. Beyond monetary gains, the skills you hone—analytical thinking, precise attention to detail, and strategic planning—are invaluable. These abilities enable you to venture into areas like financial analysis and consultancy, where you can significantly impact business strategies.
Additionally, the stability of the accounting field is unmatched. Despite technological advancements and market shifts, the need for proficient accountants remains unwavering. The diverse career paths available with an accounting degree—from forensic to environmental accounting—offer unique challenges and opportunities to make a real difference. Choosing to study accounting positions you for a secure, rewarding, and versatile career, ready to tackle the challenges of tomorrow.
Essential Skills for Accounting
Mastering accounting means diving deeper than just bookkeeping and tax prep. Accountants are a company’s financial heartbeat and need a strong skill set to handle this crucial role confidently. According to the Bureau of Labor Statistics (BLS), having strong skills in financial analysis is essential for accountants. These skills involve making sense of complicated financial data to help companies understand their financial standing and make smart decisions for the future.
Beyond the essential skills, accounting demands a strong grasp of managing financial records and ensuring legal compliance, which is vital for a business’s integrity. However, the expertise gained in an accounting program goes well beyond just dealing with numbers.
- Transferable skills: like analytical thinking and problem-solving, are at the core of accounting. These abilities help accountants identify financial discrepancies, predict potential risks, and offer solutions to keep businesses financially stable. Additionally, effective communication is necessary, as accountants often need to explain complex financial information in a way that’s easy for everyone to understand, even those without a financial background.
- Data management skills: Play a crucial role in modern accounting, heavily relying on digital tools to analyze financial data efficiently and accurately. The ability to manage, interpret, and leverage data effectively is a powerful skill that can transcend industries, making accountants valuable in virtually any business context.
These combined skills not only make accountants invaluable to any business but also create numerous opportunities for career growth and specialization. Whether in traditional accounting roles or in positions that use financial expertise in innovative ways, the skill set gained through an accounting education is versatile and highly marketable.
Three Primary Fields for Accountants
Before diving into the specific job opportunities available to accounting graduates, it’s crucial to understand the three primary fields where accountants typically find employment: public accounting, corporate accounting, and government accounting. Each area offers unique challenges and opportunities, shaping the daily tasks and career trajectories of accounting professionals.
Public Accounting
Public accounting refers to firms that provide accounting services to other companies, government agencies, or individuals. These services include audit and assurance, tax planning and compliance, consulting, and financial advisory. Accountants in public accounting often work with multiple clients, providing broad exposure to various economic scenarios and industries, making this field ideal for those who thrive on variety and continuous learning.
Corporate Accounting
Corporate accounting involves handling the financial functions within a single organization or company. These responsibilities include preparing financial statements, managing budgets, overseeing payroll, and ensuring compliance with financial regulations. Corporate accountants play a critical role in strategic planning. They are essential for the long-term financial health of their companies. They work closely with other departments to implement financial strategies that drive profitability and growth.
Government Accounting
Government accounting encompasses the management of public funds at all levels of government—federal, state, and local. This field focuses on budgeting, expenditure tracking, and financial reporting to ensure public funds are used efficiently and transparently. Government accountants may also be involved in auditing government agencies or public firms, making sure that financial practices adhere to strict regulatory standards.
Understanding these sectors helps frame the variety of roles that accounting degrees can lead to and highlights the diverse environments in which accountants can apply their skills. Whether ensuring the financial accuracy of a public firm, managing corporate funds, or overseeing government expenditures, accountants are fundamental to the financial integrity and operational success of these institutions.
Jobs for Accounting Grads
Now let’s dig deeper into the roles, responsibilities, and salaries of 12 example career paths.
1. Chartered Accountant (CA)
Roles and Responsibilities: Chartered Accountants handle auditing, tax advising, and financial analysis for various clients. They ensure compliance with financial laws and regulations and assist in financial reporting and budgeting.
Average Salary: Not specifically listed on BLS; salaries can vary widely depending on location and clientele.
2. Account Manager
Roles and Responsibilities: Account Managers maintain client relationships, ensure customer satisfaction, and manage product or service sales. They often handle client grievances and work to preserve long-term client relationships.
Average Salary: Not specifically listed on BLS; varies widely across industries.
3. Financial Planner
Roles and Responsibilities: Financial Planners assist individuals in managing their finances, including savings, investments, and retirement planning. They help clients set and achieve their long-term financial goals.
Average Salary (Personal Financial Advisors): Median annual wage in 2023 was $99,580.
4. Financial Adviser
Roles and Responsibilities: Similar to financial planners, Financial Advisers provide clients with advice on investments, insurance, and tax strategies to help manage personal financial issues.
Average Salary (Personal Financial Advisors): Median annual wage in 2023 was $99,580.
5. Actuary
Roles and Responsibilities: Actuaries figure out the financial impact of risk and uncertainty. They use their expertise in math, statistics, and financial theory to analyze and forecast future events, focusing particularly on those that affect insurance and pension programs.
Average Salary (Actuary): Median annual wage in 2023 was $120,000.
6. Internal Auditor
Roles and Responsibilities: Internal auditors assess an organization’s financial records, information systems, management practices, and internal controls to ensure accuracy and effectiveness.
Average Salary (Accountants and Auditors): Median annual wage in 2023 was $79,880.
7. Financial Examiner
Roles and Responsibilities: Financial examiners make sure financial institutions and transactions comply with legal requirements. They review balance sheets, assess the risk of loans, and evaluate the effectiveness of bank management.
Average Salary (Financial Examiner): Median annual wage in 2023 was $84,300.
8. Budget Analyst
Roles and Responsibilities: Budget analysts assist public and private institutions in managing their finances. They develop budget reports and keep track of the organization’s spending.
Average Salary (Budget Analyst): Median annual wage in 2023 was $84,940 per year.
9. Data Analyst
Roles and Responsibilities: Data Analysts interpret complex data to help companies make better business decisions. They may work with data related to financial analysis, marketing, and other business needs.
Average Salary: Not specifically listed on BLS; varies widely across industries.
10. Investment Banker
Roles and Responsibilities: Investment Bankers help companies, and governments manage and grow their financial assets through issuing debt, selling equity, and facilitating mergers.
Average Salary: Not listed on BLS; typically high, depending on deals and commissions.
11. Finance Manager
Roles and Responsibilities: Finance managers create financial reports, oversee investment activities, and devise strategies to help their organization achieve long-term financial objectives.
Average Salary (Financial Manager): Median annual wage in 2023 was $156,100 per year.
12. Tax Examiner and Revenue Agent
Roles and Responsibilities: Tax Examiners and Revenue Agents review tax returns, conduct audits, collect overdue tax payments, and resolve tax issues with taxpayers.
Average Salary (Tax Examiners, Collectors, and Revenue Agents): Median annual wage in 2023 was $58,530 per year.
The Importance of Certifications
In the accounting field, professional certifications not only enhance your resume but also signify a higher level of expertise and commitment to the profession. These certifications can lead to advanced career opportunities and are often necessary for specialized roles. Here’s a closer look at some key certifications and resources that can help you advance in your accounting career.
Certified Public Accountant (CPA):
The CPA designation is one of the most recognized and respected accounting certifications worldwide. Earning a CPA license demonstrates your expertise in the field and can significantly enhance your job prospects and potential salary. To prepare for the CPA exam, candidates can access a variety of resources, such as the American Institute of CPAs (AICPA) website, which offers study materials, practice exams, and tips for passing the exam. Additionally, many educational institutions and private companies offer CPA review courses designed to help you grasp the extensive material covered in the exams.
Certified Management Accountant (CMA):
The CMA certification is highly valued in the areas of financial analysis and strategic management. This certification indicates expertise in financial planning, analysis, control, decision support, and professional ethics. Preparing for the CMA exam involves rigorous study, and resources are available through the Institute of Management Accountants (IMA), which provides study guides, practice tests, and online classes.
Chartered Global Management Accountant (CGMA):
The CGMA designation is designed to help accountants and finance professionals develop the skills they need to succeed in both management and strategy. Resources for CGMA exam preparation include coursework and practical experience requirements, which are accessible through associations like the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA).
Resources for Further Exploration:
For those looking to delve deeper into accounting careers, joining professional accounting associations can be invaluable. Organizations such as the AICPA, IMA, and the National Association of State Boards of Accountancy (NASBA) offer networking opportunities, up-to-date information on industry standards, continuing education courses, and more. These associations play a crucial role in career development, providing members with the tools to stay current and competitive.
Investing in these certifications and taking advantage of the resources offered by professional associations can significantly impact your accounting career, providing you with the knowledge, skills, and network needed to excel. Whether you’re just starting out or looking to advance further, the journey toward certification is a worthwhile endeavor that can open up a world of opportunities.
Embracing Opportunities in Accounting
An accounting degree is more than just a pathway to becoming an accountant—it’s a gateway to a world of diverse career opportunities. With the valuable skills you gain, such as financial analysis, strategic planning, and meticulous attention to regulatory compliance, you are well-equipped to tackle various roles across industries. From traditional positions like tax examiner to dynamic roles in financial consulting, the possibilities are extensive and rewarding.
As you consider the next steps in your career, explore the specific jobs that align with your interests within the accounting field. Whether you’re drawn to forensic accounting, nonprofit financial management, or corporate finance, there’s a place for your unique skills and aspirations. For more information and to start your journey in one of the most stable and versatile fields, visit National University’s Accounting Programs to discover a program that fits your goals. Dive deep into the accounting world and shape your future in a profession that values precision and integrity.