You’re getting ready to graduate with your new, hard won degree and you’re wondering if you made the right decision. Was accounting the best field to choose when it comes to actually finding a job? Will you have to move back in with your parents? According to my research, if you chose accounting, you chose wisely my friend. Accounting and auditing positions have had job growth second only to that of software developers since 2010.
Robert Half, an international staffing firm, recently published their 2013 Salary Guide for Accounting and Finance. If you haven’t seen it yet, it’s worth a look. Not only do they detail the positions that are in demand, but they include projected salary ranges for 350 positions. They also include a metric that will allow you to tailor the salary information for your geographic area. If you don’t want to bother with the math, you can take a look at their salary calculator. This is a nice tool to keep in mind when you want to ask for a raise in a couple of years.
Right now the current unemployment rate stays around 8%, but for the accounting and finance industry it ranges from 2% – 5%. Robert Half predicts that the accounting and finance industry will have job growth of 3.6%. According to their research, the certified public accountant (CPA) designation is still highly sought after by employers. Always nice to know there is hard data to back up your career choice.
The American Institute of Certified Public Accountants (AICPA) sees the biggest trends in accounting employment in 2013 as the same things that influenced hiring in 2012: the Dodd-Frank Act,International Financial Reporting Standards (IFRS) and the need to specialize. The AICPA’s top picks for specialization: personal financial adviser, business valuation, forensics and IT auditing.
So, what if you decided you don’t want to be an accountant? According to the National Association of Colleges and Employers’ (NACE) Job Outlook 2013 study, employers are predicting that they will hire 13% more new college grads from the class of 2013 than they did for the class of 2012.
The baby boomer population has created numerous jobs for the accounting graduate. You could put that business degree to use as a financial advisor or a compliance professional in the healthcare industry. The U.S. Bureau of Labor Statistics predicts that financial advisors are among the top 10 of growth occupations. The nation’s high number of aging baby boomers seeking advice on retirement and estate planning is expected to continually drive demand in this field. Compliance professionals will be in demand to help companies keep up to date on changes in Medicaid and Medicare.
Now that you know you can find a job as an accountant, take a look at the following video to find out where these jobs are located. Manpower Group does a quarterly survey of more than 18,000 hiring managers across the United States. Here is a video of the company president, Jonas Prising, telling us where the jobs are for Q2 2013.