Here’s How Accounting Career Paths Are Changing
Accounting is a vital part of business operations; it is much more than just dealing with ROIs and taxes. Accounting plays a significant role in ensuring the smooth functioning of business operations by analyzing different financial aspects.
Currently, accounting career paths are much more than they used to be. They are becoming more popular among people because of the fascinating work, long-term growth opportunities, and impressive pay scales.
In this blog, we will discuss how accounting career paths are changing. But, before directly jumping to these details, let’s start with some crucial facts about accounting careers.
Here are Some Facts about Accounting Careers
1. High Job Demand
The demand for qualified people with valid accounting degrees is growing day by day. The number of jobs in the accounting department is expected to increase by 13% in 2022.
2. Diverse Employers
Whether it’s a startup or a million-dollar company, everyone is looking to hire accountants to manage their financial records. Employers’ needs vary from business to business, and the list includes manufacturing, government, finance & insurance, and other industries.
3. Salaries
Accounting career paths offer impressive salaries to potential candidates. As per the Glassdoor survey, the average pay of an accountant is $56,560 per annum. However, this scale keeps increasing with the experience level.
How Accounting Career Paths Will Change
Keeping increasing competition and emerging technologies into consideration, it won’t be wrong to say that accounting professionals are more likely to follow conventional career paths in coming times. Here’s what you can expect:
1. New Trajectories
First and foremost, accounting career paths are not following traditional trajectories like before. Today, they have a broader range of options to explore. People looking to join the accounting field will take up roles, including data analysts, outsourcing directors, and finance business partners. This list will continue to enlarge in the coming years.
2. Automation & Digitisation
Most companies are looking to automate and streamline their financial operations through cloud-based systems. This will automatically increase the demand for candidates with data analytics and digital operations experience.
Apart from technical and digital capabilities, the top “soft” skills, such as agility, creative thinking, strategic thinking, strong leadership, and effective communication, will be crucial to deal with ongoing uncertainty.
3. Evolving Demands
Most companies are redesigning their job roles to meet current market demands. According to a survey, as businesses are looking to ensure resilience and agility moving forward, the top two high-demand skills are focused on accounting in the IT management and IT security sectors.
4. Converging Skill Sets
As businesses and clients demand an extensive service offering, it has become essential for accountants to know how technology is used within this profession. For example, they need to understand how analytics and data are applied in accountancy.
Conclusion
An accounting career is undoubtedly a flourishing and lucrative career choice for individuals. But you also cannot deny that the competition level has also become much higher than traditional accounting jobs. If you’re looking for thriving career opportunities in the accounting industry, you can give a good start by creating a candidate account on SideSearch.
Whether you are a seasoned accountant or just planning to start a career in the accounting field, this online job hunting platform can help you find your dream job. Showcase your skills-based profile in your application and be ready to receive amazing job opportunities from potential employers.