If you’re interested in a stable, lucrative and prestigious career with a bright outlook that can provide security for decades to come, you may be wondering what the future of accounting looks like.
This profession is generally well suited to detail-oriented, organized people who are good with numbers, and is well known for providing workers stability and good job prospects throughout their careers.
With today’s increasingly technologically savvy business world, however, you may have questions about whether number-crunchers can stay employed as technology continues to develop.
Thankfully, you’ll be relieved to know that the prospects for accountants continue to look very bright! If you’re still uncertain, here are a few key facts about the outlook for this fascinating career path.
1. It’s Needed Across Industries
When you’re considering accounting or any other career choices, it’s always good to think about whether you’ll have job opportunities in multiple places. If you go into the accounting industry, you won’t have to worry about being relegated to only one type of role or one company.
Accountants are vital to business operations across all sectors, meaning you’ll have plenty of opportunities to try different areas and see what you like best. You can even combine your interests depending on the industry you choose! This also means that more positions and job titles are being created all the time.
In fact, the field of accounting and auditing has been predicted to grow at the average rate or slightly above the average rate for all occupations in the next decade, creating over 1.5 million new jobs in that time! Not all occupations will see that kind of growth, so accounting really stands out in terms of employability.
2. Salaries Continue To Be Generous
One of the lesser known benefits of becoming an accountant is the frequently generous pay. If you go into accounting, you can more or less count on a stable, livable wage that can allow you to live a comfortable life and still have plenty of savings left over for retirement.
In fact, according to the Bureau of Labor Statistics, median annual earnings for accountants in 2019 was around $71,550. Additionally, those with degrees past a bachelor’s have the prospect of making six figures within years of starting their careers. Not too shabby!
3. Job Responsibilities Are Stable
Finally, another benefit of working as an accountant is that your work expectations and responsibilities are usually clear cut. The field has a reputation for being a classic nine-to-five job for a reason!
Types of jobs in accounting can vary widely, but no matter what your responsibilities, from preparing documents and filing taxes to reviewing financial documents for audits, you can expect that you’ll have a clear list of tasks handed to you with a set deadline. If you like planning and knowing what to expect, this could suit you well.
Accountants may stereotypically spend all day punching numbers into a calculator at their desks, but in reality, the work they do goes above and beyond the stereotype. If you’re an organized, detail-oriented, quantitatively talented person looking for a stable, lucrative career, keep accounting on your short list. Its future looks bright, and your future career could, too.