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In my opinion automation is decreasing the need for many general ledger accounting and bookkeeping positions. There will always be a need for people doing this type of work but the numbers won't be increasing over time. In other words it isn't a career field with growth potential.
On the other hand there are many other opportunities for people with degrees in accounting. Cost accounting, business analysts, inventory accounting, financial analysts, business valuation, auditing, tax and other types of accounting.
BTW- Demand isn't really that high in accounting. There is an over supply of qualified people and wages reflect that. I have seen advertisements in the Nashville area for CPA's offering 40 to 45 thousand a year. This is very low considering the 150 credit hour requirement for the CPA. I have seen A/P and A/R jobs offered at 12 bucks an hour requiring a degree.
Since most W2 employees file their taxes on tax act or turbo tax they don't really need an accountant. Big companies and self employed/small business owners need accountants to help with their books and taxes. In order to be successful in accounting you have to get in with a large accounting firm or in an accounting department with a large fortune 500 company. Since accounting is such a popular major at colleges competition is fierce for decent paying accounting jobs. My friend from college just graduated with an accounting degree back in December with me and for the first 6 months out of school he worked a temp accounting job for 6 months until the contract ended and the firm told him the work load decreased. 2 weeks later he got a temp to hire position for Georgia Power and hopes he gets a full time position with them. I won't say accounting is dead but I do believe it is saturated. Your first two years out of school you will be paying your dues working crappy temp accounting jobs until you gain enough experience in the field to be hired by the big 4 or a large firm. Getting your CPA would help a lot. Like another poster said this degree has a lot of flexibility as you can Work in other business sectors and the experience you gain can be transferred over.
Your first two years out of school you will be paying your dues working crappy temp accounting jobs until you gain enough experience in the field to be hired by the big 4 or a large firm. Getting your CPA would help a lot. Like another poster said this degree has a lot of flexibility as you can Work in other business sectors and the experience you gain can be transferred over.
Usually the "Big 4" hire students directly out of college. They only hire students from schools with well respected accounting programs. You are not likely to be offered a big 4 job after working low level temp jobs.
There will always be a need for accountants. Most people aren't going to get rich with their degree, but it will open up different areas of opportunity. Not every accounting major wants to be a CPA and work Big 4. You also don't have to work for a Fortune 500 company to do okay. Automation may provide efficiencies in some areas, but we aren't likely to see the SEC relax their rules. Companies still need quality people.
Usually the "Big 4" hire students directly out of college. They only hire students from schools with well respected accounting programs. You are not likely to be offered a big 4 job after working low level temp jobs.
That sucks. At least in my profession after working a year or two years as a temp you can use that experience to transfer into a full time permanent chemist position with a large pharmaceutical company or large chemical company. So if you don't go to a top accounting school and maintain A average grades you are screwed in the accounting field?
That sucks. At least in my profession after working a year or two years as a temp you can use that experience to transfer into a full time permanent chemist position with a large pharmaceutical company or large chemical company. So if you don't go to a top accounting school and maintain A average grades you are screwed in the accounting field?
No, it means you won't be working at one of the big 4 accounting firms. You might have a shot at a regional accounting firm. You might have a shot at a large corporation. The big four hire almost exclusively from their target schools. If the big four do not send recruiters to your school it is probably not one of their target schools.
In my opinion automation is decreasing the need for many general ledger accounting and bookkeeping positions. There will always be a need for people doing this type of work but the numbers won't be increasing over time. In other words it isn't a career field with growth potential.
On the other hand there are many other opportunities for people with degrees in accounting. Cost accounting, business analysts, inventory accounting, financial analysts, business valuation, auditing, tax and other types of accounting.
BTW- Demand isn't really that high in accounting. There is an over supply of qualified people and wages reflect that. I have seen advertisements in the Nashville area for CPA's offering 40 to 45 thousand a year. This is very low considering the 150 credit hour requirement for the CPA. I have seen A/P and A/R jobs offered at 12 bucks an hour requiring a degree.
People are flocking to Nashville en masse. Part of the problem is that payscales in Tennessee are just trash overall.
Since most W2 employees file their taxes on tax act or turbo tax they don't really need an accountant. Big companies and self employed/small business owners need accountants to help with their books and taxes. In order to be successful in accounting you have to get in with a large accounting firm or in an accounting department with a large fortune 500 company. Since accounting is such a popular major at colleges competition is fierce for decent paying accounting jobs. My friend from college just graduated with an accounting degree back in December with me and for the first 6 months out of school he worked a temp accounting job for 6 months until the contract ended and the firm told him the work load decreased. 2 weeks later he got a temp to hire position for Georgia Power and hopes he gets a full time position with them. I won't say accounting is dead but I do believe it is saturated. Your first two years out of school you will be paying your dues working crappy temp accounting jobs until you gain enough experience in the field to be hired by the big 4 or a large firm. Getting your CPA would help a lot. Like another poster said this degree has a lot of flexibility as you can Work in other business sectors and the experience you gain can be transferred over.
Accounting is definitely fiercely competitive. You better have high GPA, and have internships and campus activity. Being clean cut and good looking helps. You will work crazy hours. Passing the CPA exam will cost a year of your life. However, once you get into the big firms and large companies, with 3-5 years experience you're golden.
Getting your CPA license opens the doors. You have experience, 5 years of school, continuing education, and have passed one of the most rigorous exams in the world.
Maybe low level routine accounting work and bookkeeping will go away. High level work tackled by CPA's is going no where. Computers can't do what CPA's do. The biggest threat to professional services is it being shipped to India.
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