The field of accounting is quite vast and is growing at a very fast pace
. It offers a wide variety of employment options but it does have its pitfalls. It is important that you weigh the pros and cons of a career in accounting before you decide to pursue a full-fledged career in it.
Advantages of a Career in Accounting
The employment growth in this field is likely to grow at a very fast pace. This has led to a need for qualified accountants by all.
An accounting degree can help you to develop a specific career and the training and knowledge gained can be applied effectively in an accounting job.
Owing to the vast job market, there are many career options and jobs for accountants at varied levels. A Certified Public Accountant can get supervisory positions as well.
There are different areas of specialization that you can choose to develop a niche career in accounting.
You can earn a decent salary if you are working as an accountant, this salary can increase considerably with experience and expertise.
You will get exposure to various businesses and their industries which will help you to develop wide experience.
There are a lot of opportunities for career advancements and you can work towards getting the highest positions in the organization like CFO, partner or treasurer.
Disadvantages of an Accounting Career
The career of accounting is quite rigorous and you might have to work long hours while pursuing entry level jobs.
If you are working for an organization the work load is much higher during the months end in the closing process to ensure completion of transactions.
The job responsibility involves monitoring and reporting the expenses incurred by others and does not involve any business generation. This might not be very good if you are interested in becoming an entrepreneur.
Only a Bachelors Degree in Accounting is not enough and most employers look for personnel with an MBA. Owing to the high competition, it is imperative that you work towards getting an advanced degree.
Most of the firms employ accountants and pay them on an hourly basis.
An accounting career has its share of pros and cons which need to be weighed carefully before deciding on developing a career in this field. You need to have advanced qualifications along with experience to get better positions and salary and to succeed in this field.