Accountancy Jobs continue to be in great demand in the market as this function is crucial to the working mechanics of any firm. Whether it is something as basic as book-keeping or more advanced like strategising on the basis of accounting reports; a company’s success depends on this financial information. It is no wonder then, that with a growing economy, the market for Accounting Jobs is also experiencing a major boom in the current times and the future subsequently looks very bright.
The Job Scenario
Accounting jobs never go out of demand as the economy is always growing and also due to the important nature of this work. This has been proven time and again that despite economic downturn and depression, hiring in the accounting field has never stopped.
Jobs in accountancy have been on an upward spiral in the past decade and accountancy jobs are expected to rise by 22% in the current decade from 2010-2020. This makes the scenario lucrative for people who are currently studying within this arena.
Whilst candidates were chosen on the basis of their merit and specialisation during the hiring stages, the recent hiring patterns have seen a paradigm shift; where interpersonal and communication skills have been a major part of the selection criteria and if the not the most critical.
Starting from an accounts executive to a managing director, the possibilities in the field of accountancy are endless. Whilst a graduate has chances of joining at an executive level with a small firm, an experienced professional with the right skill set can reach the higher hierarchical levels of becoming CFO (Chief Finance Officer) of a company or corporation.
The different arenas of accountancy can be briefly categorised depending on the nature of work performed and each one has a lot of potential in terms of growth; as well as monetary rewards.
Government Service: Positions are usually at the local, county or National level.
Commerce and Industry: Positions held can be of CFO, Finance Director, Financial Controller, Finance Manager, chief accountants, cost accountants, internal auditor or ledger officers. Responsibilities differ in terms of the position itself and size of firm.
Public Practice: Accountants in such areas offer services of their own, hire staff or enter into partnerships. Services are provided for individuals, businesses and governments.
Education: Appointment takes place for researchers, professors and reviewers, these are not and exhaustive list.
Another facet is that each of these segments is experiencing a boom as more and more expertise is required. The reasons for this can be roughly attributed to the following:
- Increased globalisation
- Increasing businesses
- Securitisation of companies’ finance
- New rules and regulations in the financial sector
The most demanded profile continues to be that of a Chartered Accountant in which an individual can provide services as a freelancer or work as an Online Commodity Trading Company employee of a firm while getting a superb pay package and other benefits. Specialised courses for this are available and there are a sizeable number of people enrolling for them each year, further reiterating the fact. MBAs or finance post graduates are also in great demand as their analytical skills serve the function of a Financial Researcher while CFAs are being demanded for the role of Financial Advisors.