In today’s corporate world, one constant that has not changed is the need for accountants and auditors. The scope of accounting is extremely varied and far-reaching. Accounting has four major fields, and each field has its own share of sub-niches. These four fields are public accounting, management accounting, government accounting, and internal auditing.
What Do Executive Accountants Do?
In general, executive accountants hold a lot of responsibility. They are in charge of handling the company’s financial records and analyzing the finances of the business. To a limited capacity, they can also offer legal financial advice when needed. Accounts play a vital role in the business process. It is so vital that some companies outsource their accounting tasks to external executive accounting services.
Does Executive Accounting Pay Well?
Because of the importance of the position, executive accounting jobs usually pay very well. The median wage for accountants is around $60,000, and the top 10% make an average of $100,000 annually. The bottom 10%, though, makes only $37,000 a year. This is why it’s important to earn as many certifications and licenses as possible. It is especially useful to be a Certified Public Account or CPA. The employment opportunities are much more available to CPA’s than ordinary graduates with a bachelor’s degree in accounting.
Are There Jobs Available?
Speaking of employment opportunities, those who take up accounting can be assured that there are many jobs available for the taking. Accounting professionals are always in high demand, and there is a projected 20% increase in executive accounting jobs available in the next decade. The rate of employment growth is much faster than average because of the number of starting businesses. There is also the issue of changing financial laws; this requires companies to hire the services of accountants to adjust to them. Of course, we cannot discount the fact that there has been increased scrutiny of company finances lately. All this leads to more jobs for prospective accountants.
Getting Certified
Despite the surplus of accounting jobs that are available, getting the right accounting education is still of utmost importance. You don’t even have to go to a physical school; there are numerous online accounting programs that you can choose from on the web. These programs will usually come with some sort of accreditation and/or certification to certify that you have completed the course. Of course, like previously mentioned, nothing compares to being a CPA.
Of course, being a CPA is only just the beginning of your accounting career. A lot of accounting firms actually place more weight on your training and experience. However, to gain that experience, you will have to at least be a CPA. It’s just one of those things that go hand in hand.
Data provided by the Bureau of Labor Statistics
The salary range for Executive begins around $60,000 and usually tops out around $100,000, with a mean in the neighborhood of $80,000. This is about 84% higher than the national average for annual salaries.
In order to qualify for most Executive positions, you typically need to have a Bachelor's Degree or higher.
Data provided by the Bureau of Labor Statistics
The growth outlook for Executive careers is estimated at about 20% while the estimated growth for all career fields over that same span is at about 10.12%. Over the next six years, Executive jobs are expected to grow at a 98% higher rate than the national average for annual salaries.