Accountants rank 7 in Best Business Jobs. Jobs are ranked according to their ability to offer an elusive mix of factors. Read more about how we rank the best jobs. Average Americans work well into their 60s, so workers might as well have a job that's enjoyable and a career that's fulfilling. A job with a low stress level, good work-life balance and solid prospects to improve, get promoted and earn a higher salary would make many employees happy.
Here's how Accountants job satisfaction is rated in terms of upward mobility, stress level and flexibility. Opportunities for advancements and salary. Work environment and complexities of the job's responsibilities.
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Alternative working schedule and work life balance. Sign Up for Job Alerts. What is an Accountant? An accountant is a person who keeps or inspects financial records. They're numbers people who excel at organization and detail-oriented work.Make $10,000 Per Month On Reddit [3 Simple Steps]
Since they deal with money — sometimes significant amounts of it — accountants must also possess a high degree of integrity. And because they're constantly interacting with clients, accountants should be effective communicators. Whether it's the money-laundering stoner in "Weeds" or the dorky auditor in "Parks and Recreation," pop culture tends to portray an unsavory picture of accountants, but this profession doesn't deserve such a bad reputation.
Accountants make a pretty good living, and they have a lot of job security. After all, as long as people make money, they'll need other people to handle it for them. Patty Pogemiller, the managing director of global talent experience for Deloitte, one of the world's "Big Four" accounting firms, writes in an email, "Problem solving skills are essential in a client business like professional services.
Employers are looking for people who demonstrate an ability to think analytically and approach a problem in a structured and methodical way.CPA firm owners are Certified Public Accountants who have demonstrated their expertise in accounting by passing comprehensive exams in their states.
They work with both corporations and individuals, organizing financial records, computing taxes, preparing tax returns and examining financial statements. These professionals also help companies reduce costs and maximize profits. CPA firm owners, as other entrepreneurs, often pay themselves salaries from their profits. All CPAs must complete a minimum of a bachelor's degree in accounting and hours of college coursework, according to the U. Bureau of Labor Statistics. In addition to having the essential skills of an accountant -- detail oriented, analytical, organized and competent in math -- CPAs may work for employers for five or 10 years before starting their own firms.
Inaverage salaries for CPA firm owners varied considerably in all four U. In the South, they made the most in Washington, D. A CPA firm owner can earn more by establishing a larger client base, which usually occurs the longer he's been in business.
These accounting professionals may also earn more servicing clients in different industries. CPA firm owners may be able to charge higher fees for federal clients, or those in the securities and commodities industry, which can earn them higher profits. They may also earn more in bigger cities because of a larger number of potential clients. The BLS projects a 16 percent increase in jobs for accountants and auditors throughwhich is about average compared to the 14 percent growth rate for all occupations.
More companies are using accountants because of recent scandals and stricter laws in reporting financial information. This may increase jobs for CPA firm owners. A continued emphasis on global trade, mergers and acquisitions may also increase demand for independent CPA professionals. Skip to main content. Salary and Qualifications CPA firm owners, as other entrepreneurs, often pay themselves salaries from their profits.
Contributing Factors A CPA firm owner can earn more by establishing a larger client base, which usually occurs the longer he's been in business. Job Outlook The BLS projects a 16 percent increase in jobs for accountants and auditors throughwhich is about average compared to the 14 percent growth rate for all occupations.
References 10 U. Accessed 11 April Suttle, Rick. Work - Chron. Note: Depending on which text editor you're pasting into, you might have to add the italics to the site name.For accounting and finance professionals, the most popular credential is a Certified Public Accountant CPA designation. Obtaining a CPA license requires a significant investment of time and energy, so it's critical to understand the potential pay-off before pursuing it.
If you're considering becoming a CPA, here's what you might expect to earn. According to the American Institute of CPAs, most states allow anyone to hold the title of an accountant. Meanwhile, to be granted a license, CPAs must meet "educational, experience, and ethical requirements," along with passing the Uniform CPA exam.
At the end of the day, companies value the higher standard to which CPAs are held. Once licensed, CPAs are the only individuals who can complete required audits at public companies and they are generally more educated than their peers.
With that in mind, broad accounting salaries are misleading. While the BLS reports that the median U. Typically, the senior accountants and auditors with high levels of responsibility are CPAs. Given that they take on a higher level of responsibilities, generally speaking, CPAs are on the higher end of this salary range. Since most people pursue a CPA to take on additional responsibilities and management positions, their salaries will dwarf the average of most accounting graduates.
Becoming a CPA is a good idea for many accounting professionals, but it makes the most sense for those who are seeking to climb the ladder. Employers require CPAs for many senior-level finance positions because it shows that a candidate has ambition and intelligence. Therefore, the greatest monetary rewards of a CPA may come years down the line.
The old mantra "you get what you pay for" rings true here; employers pay CPAs more, so they expect more out of them. American Institute of CPAs.
How Much Do CPAs Make?
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October edited August in Business Major. Ive always liked dealing with money, and my business teacher recommended Accounting to me as a profession. How much do accounts make? Are there alot of jobs available? Please help all you accountant majors out there.
October edited August Post edited by coveryfire on August Replies to: Is Accounting a good major? MightyNick replies 34 threads Senior Member. October You do make good money with more work experience. It is boring at the entry level positions, but as you climb up the ladder, I've heard that work becomes more challenging and fun. It is probably one of the most in-demand majors around, and it opens up a LOT of doors to a variety of jobs.
If you make partner, you can make a lot of money too. There are many federal jobs as well. There are some downsides. First, it involves a lot of nitty-gritty work. Second, during tax season or for certain jobs, there is a lot of stress to get the work out. Long hours are certainly the norm during part of the year. Thirdly, it is a very hard major.
Don't be fooled into thinking that you have great SATs and will automatically do well. Accounting is akin to law. There are lots of information to digest and know. Finally, to get the top accounting jobs, you need to get at least a 3. Myrmidon73 replies 31 threads Member. I know you can get into consulting with an accounting major, but what about stuff like PE and ibanking?
Accounting is challenging, but I wouldn't call it hard. It certainly isn't as hard as advanced math, economics, physics or engineering.If you want to break into the world of accounting, you aren't going to start off with a great salary. IT will probably be somewhere in the 50k range once you get an accounting degree.
It can go up a lot from there, though. Also, getting into the world of accounting typically means going into public accounting, in which there is a poor work-life balance.
Career Advice: Accounting vs. Auditing
A lot of my coworkers have families, but it is hard. What's great about accoutning though is that you don't have to go public, there are lots of things you can do. Thanks for your reply. I should clarify, I guess, what I consider decent.
Anything matching or over that, without having to lift people's dead weight and deal with their poop, pee, crazy behavior, etc would be fine.
And I wouldn't even mind the germs and such so much, if I was simply compensated better for it. Well the 48 a week won't change I worked 56 hours last week. But it's fairly easy to land a job in public accounting once you get an accounting degree that'll will start you off around 50k. But it goes up very quickly. The best way to tell if accounting is for you is whether or not you are analytic.
It's not about math, computers do that. You need to be able to make sense of the huge system that is accounting. How one transaction affects an account, how to reconcile things, etc. Feel free to message me any time if you'd like to know more. If I were you, I would take an intro accounting class and see how you liked it. My cousin, a friend's wife they are actually married and an acquaintance of mine are all RNs.Unlike becoming a lawyer or a doctor, you don't have to earn an advanced degree to get a job as an accountant.
Instead, you can go to work in the field with an undergraduate degree in accounting. And there's room to grow from there. To get to those higher pay levels, some accountants go on to earn the field's prize designation, the CPA, which stands for certified public accountant. Coursework: Each state has its own licensing process, though - on average it requires semester hours, typically as an undergraduate, or with a master's degree in accounting, according to the American Institute of CPAs.
Experience in the field: Some states require CPA candidates to also work for one or two years under a CPA before taking the licensing exam. Licensing exam: The test, which is the same everywhere, is made up of four parts: auditing and attestation; business environment and concepts; financial accounting; and reporting and regulation.
To pass, you must get at least a 75 on a point scale. But the beauty of becoming an accountant is that it opens the doors to many jobs in a broad array of fields, from government to investment funds to oil and gas.
And for those who continue on and earn their CPA, the career opportunities - as well as the chance to make more money - broaden further. While hiring by accounting firms is up, financial services firms and health care organizations are also on the hunt for people with accounting backgrounds. CPAs are highly valued by firms in many fields, according to executive search firm Robert Half. If you want to make top dollar as an accountant or, better yet, a CPA, you should consider some of these cities, where accountants earn the most.
Washington, D. Along with decent pay, here's another reason why a career as an accountant or a CPA makes sense: It is a growing field. There are currently 1. There are certainly other high-paying jobs out there, so it's worth looking at all your options. But don't discount accounting. Forget those stereotypes about pallid number crunchers toiling away in cramped cubicles. Earning an accounting degree or a CPA will not only put you in position to snag a well-paying job, it can also open up a broad array of interesting careers as well.
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Actual wages might be higher or lower, depending on industry and location, but they are well above the national median average for occupations. The lucrative salary is based on demand and makes accounting one of the best business jobs.
Accounting offers great all-weather positions, and regulatory events in Washington have made this even more pronounced. The Dodd-Frank Actfor example, is still being parsed and understood, and accountants will be doing work on that for years. In addition, accounting firms are excellent employers. Stuart Mease, executive director of Virginia Tech's undergraduate business program, also feels that accounting is a promising field.
This is why the public accounting firms are so active on college campuses. There is a race to acquire talent because of the huge financial upside. The Journal of Accountancy noted that hiring by public accounting firms is at an all-time high.
Many students are offered jobs before they graduate, and many are also offered signing bonuses. But where do accountants earn the most money? According to data from the BLS, these are the highest-paying industries and locations:. Accountants earn the highest median annual wage in the following four industries and sub-sectors:. The states that pay the highest salaries for accountants are mostly concentrated on the East Coast:. Accountants are in high demand, as reflected by their high salaries.
Bureau of Labor Statistics. Journal of Accountancy. Career Advice. Your Money. Personal Finance. Your Practice.
Popular Courses. The top-paying metropolitan areas for accountants are as follows:. The top-paying rural areas for accountants are as follows:. Article Sources. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate.
You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.
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