Pros and Cons of Accounting
As long as people and businesses make money, they will need other accountants to manage it for them. Simply put, an accountant is a person who manages or inspects financial records.
There are several jobs an accountant can perform including: perform audits, preparing taxes for individuals, preparing taxes for corporations, and the government. However the question is; is accounting a good job? This article reviews some pros and cons of accounting.
Pros of Accounting
- You know your path
Unlike those other jobs such as social work or political scientists, accountants have a clear vision of and career path.
- Potential for growth
Progression is fast for accountants; people start supervising other accountants within a couple of years. Many associates move up as managers, tax directors, partners, and can even open up their firm.
- Accountants are in high demand
Accountants are essential in keeping businesses within their budgets. Companies everywhere need accountants; accountants aren’t necessarily tied down to a particular location. Therefore, if you’re looking to relocate to a new city, accounting is can allow you to do so.
- Accountants are paid well
In the US, the median annual salary for an accountant in 2012 was $63,550. In addition, accountants have a relatively high job security. In addition to the generous salary accountants receive; full-time accountants may also receive health care benefits, great pensions, bonuses, among other benefits.
- Accountants have several career paths to choose from
Another advantage is the variety of career options found in the field. Accounting has many career areas in fields such as finances, management, taxes and auditing. As a result of this diversity in career paths, an accountant has many options to choose.
Cons of Accounting
- Getting certified
One con of accounting is getting certified. Certified Public Accountants, or CPAs, earn more and have the potential to advance higher in their careers than non-certified accountants. It takes approximately six months to a year to study and pass all four parts of the tough exam that has a 50% pass rate.
- It is not an exciting career
Monotony is common in accounting. If you like repetitive, meticulous and clear-cut work, then it may be right for you. You also have to be a problem-solver and possess a thorough attention to detail to avoid errors.
- Work-life balance
Another disadvantage is the levels of stress that come with the job. Accountants work from 9-to-5 and sometimes put in extra hours in the office.
Having gone through the Pros and Cons you are now in a better position to answer the question; is accounting a good job?