The Job Market Outlook for the Accounting Field

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By now, you have gone through the schooling needed for accounting and perhaps you have earned your degree. You may be wondering if you studied the right field. Is this a field that will fade away or a growing profession? Is there a demand for well-educated workers in the field of accounting?

Think about it this way. Every year, millions of businesses and individuals, by law, have to do one thing; they have to file their taxes. You have probably heard on the news about celebrities and big companies who have tried to evade taxes and have been held accountable for these crimes. In case of such crime, other crimes, people can check attorneys if you are  arrested for a drug crime. The criminal laws are so strict in very few places where the consequences faced by both the attorney and the accused will be so shameful that eventually prevents others from never committing any mistake in the future. For example, in Seattle defending the accused without proper facts and evidence will result in punishing both the accused and the attorney by revoking his license and never stepping foot on any court again for a lifetime. It will never go away because the government will always go after the taxes, paid in full.

How it Works

Businesses not only file their taxes, but will also meet with their accountants regularly to get advice on the daily operations; namely, what they can do to operate more efficiently and save money. They want to know where they can cut costs and how to bring in more revenue. That is where the consultants come in.

Then, you have the auditors that are already employed by the company, whose job it is to keep track of all transactions. They might also be called in quarterly. Auditors go through all aspects of the books and make sure everything is in line with federal and state regulations.

Forensic accountants who usually work for the government and the Internal Revenue Service; their job is to check for criminal activity. There are also public accountants who help with companies’ overhead, such as payroll, company purchases, 401k, and every day operations. Every year, people who have families “file in” and visit tax accountant offices in droves, hoping for that big return every year.

By law, accountants will never fade away as a career option. Regulations and compliance laws are ever changing and there has to be accountants to keep track of all these changes. These evolving state and federal regulations have to be understood and followed precisely. Accountants have the education needed to make heads or tails of what all these legalities mean for the average consumer.

Your Career Outlook Ahead

Looking at the data provided by the U.S. Bureau of Labor Statistics, accounting jobs are expected to increase by 22% between the years of 2008 and 2018. Accounting is a truly competitive market and continues to grow every day with new students signing up. Starting salary is around $53,000 per year to start on average and that can vary depending on where you get your start in the accounting field. With the right schooling and training, it is possible to not only double or triple your starting salary, but to reach the six-figure mark.

You want to find a company that allows you to hone your skills or even do some cross training into some of the other groups of the accounting field. Of course, getting your certification can and will make all the difference in the end.