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Add up the Benefits of a Career in Accounting

By Kate McIntyre
Learning & Life Columnist
December 1, 2006

If you're looking for a career that was hot in 2006 and that has great growth prospects for 2007, you should consider accounting. The U.S. Bureau of Labor Statistics reports that as businesses try to comply with new finance laws, such as the Sarbanes-Oxley Act, demand for accountants will remain high. This means that you might be able to advance in your accounting career faster than ever before, and you should have extra leverage when you negotiate your salary and benefits package with your employer.

The Sarbanes-Oxley Act: A Boon for Accountants

The Sarbanes-Oxley Act was passed in 2002 in the wake of corporate finance scandals at companies such as WorldCom and Enron. It helps to protect investors by keeping closer tabs on company finances. Accountants and auditors have essential roles in enforcing the new legislation; The Economist reports that Sarbanes-Oxley "provide[s] a bonanza for accountants and auditors." Because so many accountants and auditors are needed to examine companies' financial records, well-qualified accountants can take their pick from a host of attractive job opportunities.

Accounting Career Choices

When you begin your accounting career, you might find yourself working as a management accountant, a public accountant, or an internal auditor. As a public accountant, you can specialize in an area you enjoy, such as tax accounting or designing accounting systems for companies. If you like doing a lot of different tasks, you might prefer working for a company as a management accountant or an internal auditor.

Getting Started on Your Accounting Career

In order to get started in accounting, you should earn your bachelor's degree in accounting, business, or finance. The U.S. Bureau of Labor Statistics reports that accountants with bachelor's degrees earned $43,269 on average in their first year out of school. With such an attractive initial salary, such varied career paths, and such a bright outlook for the future, an accounting career is more tempting than ever.

Sources

• "Accountants and Auditors," U.S. Bureau of Labor Statistics
• "Sarbanes-Oxley: A Price Worth Paying?" The Economist Online

About the Author
Kate McIntyre, a fiction writer in Portland, Oregon, holds an M.F.A. in fiction writing from Oregon State University.

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