The Need for Accountants Is Increasing: Is It Right for You?

The Need for Accountants Is Increasing: Is It Right for You?
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When you’re thinking about what kind of job might be best for you, you might try to look at fields that are growing or that are in need of many skilled workers.

Many sectors, like nursing, technology, engineering, and more, are ones that usually come to mind. These fields are almost always in need of educated and experienced workers.

However, one area of work that might not immediately come to mind is accounting. Yet this career choice has quite a lot to offer. The pay is good; there are many different types of accountants; and this field is currently growing at an incredible rate.

How the Field of Accounting Is Growing?

Historically speaking, accounting is and has been a quite stable career choice. Although, like many other fields of work, things may fluctuate a bit from time to time, accountants are often needed no matter where you go.

However, in recent months, researchers and experts alike have projected a drastic increase in the number of accountants wanted across the U.S.

It is estimated that there are about 1.4 million accounting and auditing jobs in the U.S. as of 2016. In addition to this figure, the Bureau of Labor Statistics (BLS) projects that many more accounting and auditing jobs will be opening through 2026. In fact, in some areas of the country, around 300 new accounting jobs are expected to be created annually from now until at least 2022.

This growth, when compared to most other job fields, is skyrocketing. It seems as though the need for accountants is exceeding the need for jobs in almost all other fields.

If we break it down even further, the Bureau of Labor Statistics also says that they estimate around 140,000 accounting jobs to open up from 2016 to 2026. That’s a whopping 10 percent total increase in job demand within just 10 years.

Who Might Want to Be an Accountant?

Individuals who might be concerned with the stability of their career would likely be satisfied with the solidity of an accounting job. As long as people are out there making money, the need for skilled accountants will remain. So, if that’s your main concern with a career, accounting might be a great fit for you.

In addition, individuals who excel at math studies are of course a wonderful fit. Although, math isn’t the only thing accountants claim to be good at.

Morgan Whilen, a staff accountant at an accounting firm in Pittsford, NY says that she’s learned many different skills while working in her current position; it’s not simply math skills that she uses, but she says she’s developed other skills under the umbrellas of auditing, consulting, research, tax preparation, and marketing.

As such, if you feel that working with math is important to you — but you’d also love to learn some other skills related to customer service, intricate analysis, organization, and perhaps even aspects of marketing — accounting is a wonderful career option.

What’s more, many accounting professionals report that their jobs are always evolving and including more efficient and updated processes. In relation to that, if you feel that time management, teamwork, communication, adaptability, and a willingness to take the initiative on complicated projects are all traits that come easily to you, you’re likely looking in the right place.

How to Get Your Career Started?

Well, of course, a great place to start would be with education. Most accountants come equipped with a bachelor’s degree or higher. In addition, many accountants choose to or are required to obtain their CPA certification at some point.

This certification marks you with a stamp of approval that you are up to date on all inner workings of what is required of a certified public accountant. You usually must go through trainings and take rigorous tests in order to achieve your CPA, which can take some time, but it is very much worth it in the end.

Individuals who choose to go after their CPA and obtain it commonly earn around 10 to 15 percent more annually than those who don’t.

If your goal is to land an accounting job and make it your career, a CPA certification is necessary if you’d like to move up within an accounting firm.

So, it’s a good thing to keep in mind if you’re someone who’s just entering college. You’ll most likely be required to graduate with a bachelor’s degree and think about getting your CPA, if not shortly thereafter, at some point in your accounting career.

Internships are also a fantastic option for individuals who want to become accountants. An internship early on is a great way to give yourself an idea of whether or not you might be truly interested in pursuing a career in accounting.

Not only does it give you some real-life experience, but it also looks great on your resume. You’ll gain the opportunity to see how professional accountants operate and what kinds of skills you’ll need to work on if you should choose to go forward with it.

You also have several options when it comes to an accounting career. Accountant jobs come in all sorts of different forms. You may end up looking for a job within the public sector, which is common, but there are also many other options available.

For example, you might find some interesting and exciting opportunities available as a non-profit accountant. Or there are also many government accounting jobs around the country. Each of these areas offers a completely unique type of accounting and are worth a bit of research to determine a particular sector or cause that you prefer to be attached to.

There you have it!

If you’ve ever been curious about a job in accounting, you can rest assured knowing that it is a stable career choice. Not to mention, the need for accountants will be steadily increasing over the next 10 years or more.

If you needed even more of a reason to become an accountant, individuals who pick this career commonly start at $55,000 to $60,000 dollars annually.

On average, most American workers in general come in at a yearly salary just under $50,000 (and that’s total, not a starting salary). Overall, the choice to become an accountant is a solid one that equates to a good starting salary with obvious potential for upward mobility.