If you’re looking for a career that offers excellent job prospects and the chance to command a high salary, then accountancy could be a great choice for you.
Accountants are highly sought-after, and can quickly progress to positions of responsibility. Their unique skill-set makes them prized not only by major accounting, auditing and finance firms (such as Ernst & Young, KPMG, Goldman Sachs and the World Bank Group), but also by government agencies and public and private companies.
Accountants play a major role in the overall health of the economy, and their work monitoring and regulating the financial stability of companies means they develop a strong knowledge of industry practices.
Types of jobs in accounting
The accounting and financial services sector contains a wide range of opportunities and potential careers for accountants, including:
- general accountant
- budget analyst
- forensic accountant
- certified internal auditor
- tax accountant
- registered auditor
- research analyst
- financial analyst
- chief financial officer
- entrepreneur
- government accounting
- management consultant.
Studying accounting
Most job candidates looking to enter accounting and financial services have attained a bachelor’s degree with a focus in accounting or a similar field, such as finance. This path of study prepares students with strong analytical, problem-solving and strategy skills, as well as a professional knowledge of the technology used in most finance and accounting practices.
There is also a notable selection of accreditations that accounting and financial sector employees seek to increase potential earnings and expand job prospects:
- The ACCA F3 (Association of Chartered Certified Accountants) accreditation is a professional accountancy certification that is globally recognised in all financial sectors, and grants you the status of Registered Auditor.
- The MBA (Master of Business Administration) is a postgraduate degree that focuses on management strategy, finance, and accounting, and can expand job prospects to the executive level.
- The CFA (Chartered Financial Analyst) accreditation is a globally recognised financial investments designation, and provides advanced investment analysis and portfolio management skills.
Where should you study?
There is a large variety of institutions that offer both undergraduate and postgraduate/professional degrees and accreditations, but when deciding where to study it is important to consider both the academic quality of the institution and its location. Studying in a financial hub like New York, London, Singapore or Hong Kong can help you network with major firms and potentially land a coveted job.
The overall growth and globalisation of the economy means the accounting and financial services industry is in constant need of new and talented employees, and once you have entered the industry you will find there is a vast range of lucrative and fulfilling career paths on offer.
You can find out more about careers in accountancy from the ACCA website.