The Pros and Cons of an Accounting Career

Are you looking to change careers? Are you trying to find your way in the world? You should pursue an accounting career.

By seeking a career in this field, you can become a certified public accountant. Like most things in life, a career in accounting has its pros and cons.

It’s a great career choice, but you must determine if you’re a good fit for it. Read on to learn all the positives and negatives about a career in accounting.

The Pros of an Accounting Career

So, you’re thinking of pursuing an accounting career. There’s a lot to love about this field. You must learn about its pros.

There Is a Clear Career Path

If you decide to study accounting, you’ll acquire a set of practical skills. The skills will prepare you to crunch numbers. The skills will also help you analyze the expenses of the individuals and companies you work for.

Most individuals who study accounting will have a good idea of the career path they’ll take. You can become a certified public accountant or another type of accountant. Whichever path you choose, you’ll have similar duties.

It’s a Stable and Growing Job Field

There’s no need to worry about job opportunities in this field. Accountants are always in high demand.

The need for accountants will not go away. Almost every business needs an accountant or an entire team of accountants. An accountant is a vital member of the team.

So what are the job prospects in accounting? Employment is going to grow 7% within the next nine years. The chances of getting a job after earning your degree are great.

High Earning Potential and Stability

If you have the right qualifications, you have the potential to earn a high income. This is a career that can help you provide for yourself and your family.

As of 2019, the median salary of an accountant is $71,550. The best-paid 25% made $94,340.

There are different factors that can influence the amount of money you can make. The size of the organization you work for matters. Larger organizations tend to pay more than smaller ones.

Do you plan to work as a self-employed accountant? By working as a self-employed accountant, you can set your rate.

If you work as a full-time accountant, you can enjoy excellent benefits. You can get healthcare and a retirement plan. Let’s not forget about the vacation time.

Opportunity to Work Anywhere

One of the pros of becoming an accountant is the ability to work anywhere. Accountants don’t have to be tied down to a specific location. Almost every business in any urban or rural area needs an accountant.

If you want to live out west, you can move there and find a job. If you want to live in a small town, you can move to one and likely find an accounting job with ease.

People who love to travel can work as an accountant. They can work remotely and continue to offer their services. CPA jobs are available for freelancers.

The Cons of an Accounting Career

Working as an accountant does have its drawbacks. You should know about the cons of an accounting career.

The Education Is Ongoing

To become an accountant you need to get the right education. This means you must go to college. You must have a bachelor’s in accounting.

After the bachelor’s in accounting, you must earn a master’s in accounting. Then, you can work on earning your certification.

The learning doesn’t stop after you earn your degrees. Accountants must be life-long learners. They must continue to acquire more knowledge and skills.

Accountants must plan on continuing education. They need to focus on keeping up with changes in the field.

The cost of education isn’t cheap. You do have to have the financial means to pay for tuition or seek loans. You also need to have a lot of determination to earn your degrees.

Fierce Competition

There’s an increasing need for accountants. Employers seek the best of the best. You can imagine that competition to get a job is fierce.

To get a job, you need to have the right qualifications. You might have to get certain certifications to stand out above the rest.

Hard Work Is Necessary

Employers place their trust in their accountants. They want their accountants to do the job right. There’s no room for errors in this line of work.

This profession comes with a lot of responsibility. You need to have a passion for numbers and have patience. Attention to detail is a must.

Accounting tends to be a 9-to-5 job, but there’s a busy season. Come tax season, accountants have to be ready for anything. During tax season, accountants might face tight deadlines.

Many have to be on call. Long days and weekends might become part of their work schedule during tax season.

Stress can be high around this time. If you can’t handle stress or be under high pressure, this field might not be for you.

Consider Seeking an Accountant Career

An accounting career is rewarding. There are a lot of career opportunities in this field. If you find the right job, you can earn a decent amount of money.

There are cons that come with this career choice. Accounting jobs can be stressful. To become an accountant, you must go to college.

You must consider the pros and cons to determine if this is the right career for you. Make sure to explore the rest of our blog to read more education-related articles.

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