Similar to almost anything in life, an accounting career has its
pros and cons. There is nothing wrong with the career path itself, but it may not be right for certain people, while it may be the perfect option for others.
These
positives and negatives of the career path can help you determine if it is right for you.
Pros
A clear career path
Studying accounting means learning practical skills about
analyzing costs and crunching numbers required by employers. This education means your career path is more apparent than a person studying subjects like Philosophy or English, for which it can be hard to determine the
possible career options.
It is a growing and stable field
The job
prospects for a career in accounting are growing year over year. Accountants will be required as long as people need help with taxes and business finances.
There is potential for growth
Once you graduate, you may start with an
entry-level associate job, but there is an immense potential to grow professionally in this career path. Many people who graduate with an accounting degree begin their career path as junior auditors, staff accountants in public accounting, or controller’s assistants in private accounting. However, once they
gain experience and get established, they can advance their careers through additional certifications or education such as CPA or MBA and job performance.
Good earning
Anyone would love to make enough money to be able to live comfortably and cover all their expenses. An accounting career can help you afford a good lifestyle.
You can find work anywhere
Unlike other career paths, you do not need to
relocate to an industrial hub and disturb your personal life. Considering how accounting is a universal need, everyone from farmers to IT companies requires accounting services. This need gives accountants flexibility when deciding on location in which to live and work.
There is potential to become an entrepreneur
The accounting profession puts being the one in charge of everything within reach. Unlike many other professions, it is a
common habit for accountants to start their accounting firm. While it carries its risks and may not be a good idea for everyone, it is undoubtedly an excellent choice to have.
Cons
Ongoing education
Unlike other fields, you need to
continue learning even when you have graduated with an accounting degree. To advance your career, you must continue your education even after getting a degree. However, there is a benefit to that, too, as higher education means increased status and pay.
Once you start as an entry-level accountant, you must look into further certifications. There several accounting credentials such as CPA (Certified Professional Accountant), CFA (Chartered Financial Accountant), and CMA (Certified Management Accountant). Earning these will require the right amount of effort and time, so it can be helpful to know what you are
putting yourself through beforehand.
It can get boring
The everyday work of accounting
involves a lot of math and investigation, which some people may find boring and dull. However, finding something boring is subjective. Some people may find this work fascinating.
It can get stressful
There is going to be a lot of pressure on you if you are accountable for an
organization’s finances. For this reason, you need to determine if you can handle the pressure. Suppose you get easily frazzled by stress, then maybe it is not the right career choice for you.
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