6 Basics You Should Know Before Considering a Career in Accounting

6 Basics You Should Know Before Considering a Career in Accounting

While it may not sound like the most exciting job (to some, at least), being an accountant comes with a wide range of perks. For one, the job is in high demand as more people turn to entrepreneurship and solopreneurship. 

Plus, the job market for accounting professionals is expected to continue growing in the coming years. Additionally, accountants are often well-compensated for their work, with many positions offering good salaries, benefits, and opportunities for advancement.

Of course, whether or not you should become an accountant depends on your interests, skills, and career goals. But if you enjoy working with numbers, have strong analytical skills, and are interested in business and finance, then accounting could be a good fit for you.

So if you are considering this job path, here are a few things to keep in mind:

1. Impressive Job Stability

Accounting is a field that is always in demand, and accountants are needed in virtually every industry. If you become an accountant, you are likely to have good job stability throughout your career.

Of course, this doesn t mean anyone can keep their job in this industry. You still need to work hard, stay up to date with the latest changes (and there are a lot!), and do whatever is required to excel at your job.

2. You Gain Transferable Skills

As an accountant, you need a series of skills to do your job right. Besides an interest in business, finance, and numbers, you also need strong analytical, problem-solving, and communication skills. 

Luckily, all these skills are highly transferable to most industries out there, especially for office jobs like management, IT, consulting, and more. So, if you ever want a career change, you already have the necessary skills. Overall, as an accountant, you are highly adaptable and versatile regardless of the industry you choose.

Moreover, accountants are needed in virtually every industry. This way, even if you don t want a career change, you can choose to work in an industry that interests you and that you are passionate about.

3. Know the Top Accounting Firms in the USA

Accounting is one of those fields where it s difficult to get bored if you like what you re doing. The industry covers a wide array of jobs, like tax preparation, auditing, financial analysis, management accounting, and more.

Therefore, it s not too difficult to find a fulfilling and rewarding job. However, the start may be a bit tedious if you don t have a plan on how to speed up your career advancement. For instance, many accountants who start with small firms find the first few years of their careers a bit bland. 

So, if you want to start right and build your portfolio, keep an eye on the biggest accounting firms in the country and their job openings. To help you get started, here is a list of some of the most promising accounting firms to monitor.

4. Accountants are Paid Well

Professionals in this field are usually well-compensated for their work. While it does depend on your level of experience, skills, and the type of work you re doing, it does help to know that the average base salary for an accountant in the US is $60k per year.

Plus, many accounting jobs come with benefits such as health insurance, retirement plans, and paid time off.

5. There are Ups and Downs in Demand

Whether you are self-employed or working for an accounting firm, your work program will be similar to a standard 9-to-5. Most of the year that is. 

However, starting with the first day of the year and up to April 15, every tax accountant in the country goes through a surge in demand that adds a lot more stress and tons of work (especially if you have forgetful clients who leave things for the last minute). 

Still, if you design the right systems and set clear target dates for your clients, you should be able to manage this busy period without adding too much stress on yourself. Plus, there are lots of tools designed especially to make an accountant s life a little easier

6. You ll Deal with Difficult Clients

Yes, difficult clients are in every industry, but as an accountant, you may have to deal with more of them. That s because of the nature of your job, which requires you to become intimate with a client s finances and business practices. 

This type of work relationship requires trust from both parties, which is quite challenging to achieve without proper communication skills. So expect things to be awkward initially (with most clients) and work hard to earn their trust.

Of course, if the client doesn t show full transparency and has no intention of improving their communication with you, there is no need to continue the contract. So, also be prepared to let clients go if you don t feel comfortable working with them. 

Wrap Up

Overall, a career in accounting can be a successful and fulfilling choice for those interested in the field and willing to work hard to achieve their goals.