Is a Career in Accounting Right for You? 3 Things to Consider — and 3 Surprising Facts
From balancing budgets to tax management, a career in accounting certainly has its unique challenges. Not everyone is cut out for the meticulous precision it requires or the constant problem-solving it demands. After all, crunching numbers and interpreting complex financial information isn’t everyone’s cup of tea.
So, is accounting your calling? If you think the answer is yes and that you have the skills needed for the job, today we’ll discuss some of the things that will keep you moving toward your goal.
While we’re at it, we’ll also unveil some surprising facts about this profession that you probably didn’t know. This way, you might get to understand better if this profession truly aligns with your future goals.
Why You Should Choose an Accounting Career
1. It Pays Well
First and foremost, let’s talk about money (the reason we all get jobs and most of us follow career paths). The national average salary for accountancy roles in the United States sits comfortably at $54,890 per year.
But don’t be boxed in by average figures – the salary spectrum stretches as wide as between $41,000 and $72,000 per annum. More specifically, if we break it down to an hourly basis, accountants take home approximately $26.39 for every hour of their expertise.
Yet there’s more to earnings than just base calculations or averages. Your income as an accountant won’t simply tag along with standard measures. In fact, it aligns dynamically with certain factors (your employer and location, for instance) that you should also bear in mind when considering this career path.
2. Job Security
There are few fields where the demand for specialized work is higher than the offer, and accounting is one of them. As the number of companies and organizations grows, so does the demand for graduates with a specialization in accounting.
Every industry and every organization needs someone who can responsibly manage their financial affairs. So, regardless of the business landscape, accounting positions are widely available and always in demand.
Job security is one of the accounting advantages you can’t ignore. Moreover, since there aren’t enough professionals to meet these growing needs, companies can’t afford to fire their accountants willy-nilly. On the other hand, this also means you can have your pick and move companies whenever something doesn’t look right.
3. You Can Climb Up the Ladder
Another appealing aspect of an accounting career is its clear trajectory toward progress. Unlike certain professions where advancement paths can be unclear, accounting is quite straightforward. It lays out a clear-cut road that you can follow, making it easy for you to strategize and structure your career progression.
What’s more, specializations are abundant in this field, which means you can target and dominate a specific niche. Obtaining niche-specific certifications not only enriches your knowledge but also boosts your marketability in the job arena. This can pave the way for even further advancement, enabling you to climb higher up the professional ladder.
Surprising Facts about Being an Accountant
1. You can Have Multiple Lines of Income
Here’s something you might not have considered. In today’s digital era, where online learning is booming and YouTube creators thrive, accountants are in a unique position to diversify their income.
With your knowledge and expertise in finance, you can set up not just one but multiple streams of income with a touch of creativity. And the best part? There’s already a substantial market for it. Financial content has been steadily gaining traction on online platforms like YouTube.
Your accounting background makes you incredibly well-suited to carve out your space in this niche, giving people the valuable financial advice they crave. You can also learn how to design an online course and add another stream of income to your portfolio.
2. It’s One of the Oldest Professions
You might find this surprising, but accountancy is not just some modern-day phenomenon. The roots of accounting run deceptively deep, stretching back thousands of years. The world’s first documented accounting records were found in ancient Mesopotamia – we’re talking way back, more than 7,000 years ago!
It’s fascinating how this profession has evolved over centuries. The primitive accountants from Mesopotamian civilizations employed rudimentary accounting methods to keep a tally of transactions. But they weren’t tracking money exchanges or profits – it was all about crops and livestock.
So, when you’re crunching numbers or creating financial reports, you’re participating in a tradition that is as old as civilization itself.
3. You’ll Connect with People from all Walks of Life
One might imagine accountants hunched over a desk in some dimly lit basement, crunching numbers ceaselessly. Yet reality paints a much brighter (and social) picture. Accounting doesn’t confine you to solitary number crunching. Surprisingly, it propels you forward into extensive networking opportunities that cut across industries and sectors.
Alongside expert number handling, accounting also demands refined people skills. As an accountant, you become the go-to financial guru for individuals and businesses alike, all from various walks of life.
So, brushing up on your interpersonal skills becomes just as important as staying updated with tax regulations or balance sheets.
At the end of the day, the world of accounting is a lot more exciting and rewarding than you ever imagined. From impressive salaries to job security, from climbing the career ladder to potential extra income opportunities – this field seems to have it all.
In conclusion, an accounting career is a profound journey that unearths much more than just number crunching – it’s an opportunity to shape and enrich your professional life.