Let's start out with the cold, hard facts.

Accounting is part of every business, nonprofit or government organization. A career in accounting offers a high level of job security, opportunities for advancement and a low unemployment rate. You can work as an auditor, bookkeeper, tax accountant, financial analyst, controller, accounting manager, you name it.  The U.S. Bureau of Labor Statistics shows that employment of accountants is projected to grow 10 percent to 2026, faster than the average for all occupations.

Good pay and benefits come with most accounting jobs, and salaries are rising, with sign-on bonuses and other incentives also increasingly common. Below are the current salaries you can expect for different accounting roles:

1. Staff accountant — These professionals do everything from maintaining general ledgers to meeting with clients to discuss real estate tax liabilities. The staff accountant salary midpoint for someone with up to a year of experience is $45,000. That increases to $60,000 in starting salary for one to three years of experience.
2. Forensic accountant — These specialists investigate fraud, such as money laundering and embezzlement, by analyzing an organization’s financial records. The projected salary for forensic accountant jobs is $90,000 at the midpoint
3. Accounting manager — They are responsible for a team of accountants in maintaining the general ledger system, preparing financial statements, coordinating the budget process, and so on. The latest research shows the midpoint salary for an accounting manager is $90,000.

Aside from great pay, a job with a major accounting firm will almost always offer a great benefits package, including paid vacations, good health insurance and 401K matching.

Now let's talk about the more emotional side of becoming an accountant. For one thing, accounting is a widely respected profession. Also, a good accountant with the specific skills and education required can pretty much write their own ticket. You will be in high demand, and if you choose you can move up the ladder quickly.

Then there is the fact that you can always choose to start your own accounting firm at some point. With an entrepreneurial spirit and the skills, you acquire while getting your accounting degree and working for an accounting firm, you could become highly successful in your own firm at some point.

As you can see, a career in accounting is a very good idea. We hope this blog post has helped you make a final decision. The Rules of Thumb blog from MoneyThumb would love it if you shared this post on your social media page so that your fellow aspiring accountants can take advantage of the information it contains.

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Pick a Public Accounting Path

"The biggest decision [accounting] graduates need to make is public versus private accounting," explains Mary Feeney Bonawitz, Ph.D., CPA, assistant professor of accounting at Pennsylvania State University, Capital College, and past president of the American Society of Women Accountants.

"Staff Accountant or junior auditor are typical entry-level positions in public accounting, whether the firm is large or small," says Clar Rosso, director of communications for the California Society of Certified Public Accountants. In your first few years on the job, you'll assist senior auditors and prepare for the CPA exam.

At a Big Four firm such as Ernst & Young, you would work as a staff auditor for a year or two and then move up to a senior-level auditing post, then manager, then senior manager and ultimately to partner level. "The accounting function is the backbone of the financial markets," says Lisa Young, a partner at Ernst & Young in New York City. "When you come into public accounting, the most exciting thing is what you learn about commerce, the flow of business and understanding business overall."

To land the job and keep moving up the ladder, "you need to be a well-rounded individual with strong scholastics, demonstrated leadership capabilities and outside interests," Young says. "Public accounting is about relationships and understanding technical issues. It's about being able to work with a variety of people from all different walks of life."

Pick a Private Accounting Path

If you decide to go the private accounting route and work for a corporation, your first job will likely be in the controller's department. You might do monthly reports or internal audits of your own company, which could send you traveling to job sites in other states or countries.

People who follow this accounting track typically seek additional education or credentials to boost them into a job as an assistant controller, then controller and eventually chief financial officer. Options include earning a master's degree in accounting or MBA or becoming a CPA or a Certified Management Accountant.

Many people with accounting degrees also choose to start their own private accounting firm. A lot of the readers of the Rules of Thumb blog from MoneyThumb are owners of their own accounting business. Some are simply private bookkeepers from clients, all the way up to huge accounting firm members who read our blog.

Pick Government or Non-Profit Work

Accounting graduates have at least two other options: government or nonprofit work. Uncle Sam and his cousins at the state level hire accountants and auditors to prepare and analyze financial reports, as well as to review and record revenues and expenses. Auditors investigate agencies and programs looking for fraud or waste. Tax examiners decide how much businesses and citizens owe, and then they collect those funds. Purchasing agents buy supplies, while management analysts handle efficiency issues and may suggest solutions to management problems.

If you choose to take the nonprofit route with your accounting career, you can expect to earn less than your fellow grads who choose for-profit employers, but you may have the opportunity to make the world a cleaner, safer or better-educated place in which to live.

No matter which avenue of accounting you choose as your career path, the Rules of Thumb blog from MoneyThumb wants you to know that we are proud you have chosen the profession of accounting. We hope you will continue to find our information on our blog helpful to you. One great help we offer accountants, no matter what type of career path they have chosen, is the use of our PDF financial file converters. These are the best on the market.

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