Accounting

Career Opportunities in Accounting

There are a wide range of career opportunities for accounting graduates and understanding your interests and strengths can help you choose a good fit for you. You can pursue work as an accountant at a corporation or non-profit, accounting firm, the government, or start your own practice. The largest accounting firms, known as the Big Four, are large recruiters of new accounting graduates and were all named to Fortune Magazine’s list of the 100 Best Companies to Work For for 2012. The Big Four includes Deloitte & Touche, Ernst & Young, KPMG, and PricewaterhouseCoopers. Government agencies like the FBI and IRS are large employers of accountants who work to investigate fraud and other illegal financial activities. For individuals who like the freedom and flexibility of being your own boss, starting your own accounting business can be a great option.'

How to Become a CPA

Requirements to become a Certified Public Accountant vary by state but the general requirements are to complete an accounting degree program and earn a certain number of semester credit hours, pass the uniform CPA examination, and acquire a certain amount of work experience in public accounting. Most states require 150 semester hours to sit for the CPA exam which typically requires education above the bachelor’s level. Once you become a CPA, many states have a continuing education requirement for maintaining licensure.

Career Outlook for Accounting Graduates

According the the Bureau of Labor Statistics, accounting jobs are projected to grow by 16 percent from 2010 to 2020 in the United States. This is about average compared to all occupations while Certified Public Accountants should have the best prospects. Total employment was about 1.2 million in 2010 and is expected to reach about 1.4 million in the year 2020.

There are several factors that are driving change and growth in the accounting profession. The Vault Career Guide to Accounting points to rising complexity of corporations, technology innovations, and the growth of international business as factors leading to job growth in the accounting sector.

Here are the top 10 cities in the U.S. for being a CPA according to accounting according to LedgerLink:

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10. Seattle, WA
9. Minneapolis, MN
8. Denver, CO
7. Philadelphia, PA
6. Phoenix, AZ
5. Washington, DC
4. Chicago, IL
3. Boston, MA
2. Houston, TX
1. New York, NY

Salary for Accounting Professionals

The salary for accountants varies depending on location and experience, but the average annual salary in the United States was $61,690 as of May 2010 according to data from the Bureau of Labor Statistics. The top 10 percent of earners made an average salary of $106,880. There are also opportunities for accountants to be promoted to the position of chief financial officer or CEO. For example, Nike CEO Phil Knight and Home Depot co-founder Arthur Blank are CPAs.

Professional Associations for Accountants

Joining a professional association can be a terrific way to enhance your career by growing your professional network, participating in educational opportunities, and volunteering to gain leadership experience.

American Accounting Association – Promotes the excellence of accounting education, research, and practice.
AICPA – The national professional association for CPAs in the US.