Accounting Careers

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There are many different careers in accounting, many of which offer lucrative salaries. For instance, according to the Bureau of Labor Statistics (BLS), the median annual salary for accountants and auditors was $78,000 in May 2022.

Additionally, the high demand for these professionals typically leads to strong job prospects for those pursuing entry-level rolesl; however, the amount of graduate students entering the workforce often makes jobs with the best firms much more competitive.

This guide outlines how to start your accounting career, including which degrees can land you the position you want and what your salary potential could be.

Pursuing a career in accounting offers many benefits, including job security, high salaries, and potential for advancement. Accounting professionals play critical roles in the management of financial systems and can find opportunities in virtually every industry. With the right qualifications and experience, accountants can also rapidly rise through the ranks to secure senior positions that can offer double the salary of entry-level roles.

The skills acquired in accounting are transferable to other business-related areas, providing career flexibility. The field is also evolving with technology, enabling professionals to work remotely while managing finances. Accountants play a vital role in the success of businesses and have the potential to make a meaningful impact on people’s lives, which can add a sense of purpose to the profession.

The BLS projects jobs for accountants and auditors to grow 4% between 2022 and 2032, or as fast as the average for all occupations. This growth is partly due to globalization, a growing economy, and a complex tax and regulatory environment, leading to a strong demand for accountants and auditors.

The BLS expects about 126,500 openings for accountants and auditors each year, on average, over the decade. Many of these openings are anticipated due to the need to replace workers who transfer to different occupations or retire. The median annual wage for accountants and auditors was $78,000 in May 2022.

While earning your degree in accounting, you can develop skills that can benefit you in the field as well as in other roles. These include the ability to examine and interpret complex financial data, communicate findings clearly, and work well with others. Accountants should also have strong organizational skills to manage documentation and meet deadlines, critical thinking to address errors and discrepancies, and adaptability to keep up with the evolving accounting landscape and technological advances.

Depending on your specialization, you may also gain a firm understanding of budgeting and corporate finance or comprehensive knowledge of government regulations.

Those who earn degrees in accounting can pursue a variety of careers, with many specializations and work environments to choose from. The two main paths in accounting are public accounting and private accounting. Public accountants provide a range of services related to advising, taxes, and auditing for multiple clients. Private accountants typically work within a single organization’s finance department.

Specializations in accounting include:

Each of these paths and specializations comes with its own set of responsibilities, work environment, and unique potential for advancement.

Starting a career in accounting involves several key steps. First, you should earn a bachelor’s degree in accounting or a related field to build foundational knowledge of accounting principles and theories. Some students pursue an associate degree first, however, and use that degree as a stepping stone in their career journey. During your studies, you can also gain hands-on experience through internships, which can lead to full-time positions.

After obtaining your degree, you can decide whether to become a certified public accountant (CPA) by fulfilling state requirements, which typically include additional education, an exam, and supervised work experience. Becoming a CPA can significantly increase job opportunities and earning potential.

You may also consider pursuing a master’s degree in accounting, which can further enhance your expertise and hireability. Lastly, obtaining accounting certifications, such as certified management accountant (CMA) or enrolled agent (EA), can propel your career by showcasing your specialized skills and commitment to the profession.

An associate degree in accounting can serve as a stepping stone into the field. This degree typically takes two years to complete and provides foundational knowledge in accounting principles, financial reporting, taxation, and auditing.

It also covers basic business topics, such as microeconomics and business law. This level of education can lead to entry-level roles in accounting, such as accounting clerk or bookkeeper, where you’ll handle tasks like maintaining financial records, processing transactions, and producing basic financial reports.

A bachelor’s degree in accounting is the most common educational requirement for accounting jobs. This degree provides a deeper understanding of accounting principles and practices, equipping students with the skills necessary to analyze, interpret, and communicate financial information effectively.

Curricula typically cover areas like:

A bachelor’s program in accounting may also include business-related topics such as economics, business law, and business communications. This degree usually takes four years to earn and can lead to various entry-level and mid-level accounting positions.

A master’s degree in accounting can further enhance your expertise and appeal to top firms. Master’s degree programs provide advanced knowledge and skills in financial reporting, auditing, taxation, and business law, preparing students for leadership roles in accounting.

Curricula often include specialized courses in areas like: