3 Main Types of Accounting Jobs You Need to Know About
If you are one of those people whose favorite subject is to love solving problems, love dealing with numbers, working as an accountant will suit you just fine. Because accounting jobs are always available, you can find jobs in a number of places such as accounting firms, major corporations, health care, and even law enforcement. Accountants are secure of obtaining one the three major categories of accounting jobs.
Quick Summary of the 3 Main Types of Accounting Jobs
- Some accountants work for one of the four major accounting firms known as the “Big 4” which include PWC, KPMG, Deloitte, and EY. These big accounting firms can be found in several cities all over the United States, and they engage thousands of accountants.
- Other accountants work for local, smaller accounting companies’ such as CPA’s where they deal with local clients.
- Other accountants who are on the lookout for entry-level positions in accounting companies may accept jobs in the accounting section of a company, where they manage all account issues such as all incoming and outgoing cash, taxes, and several other financial transactions.
The Big Four
Accountants who are fortunate to get employed in one of the Four Big accounting firms are viewed to have reached the Zenith of their career. While several accountants prefer working with these big accounting firms for several years, other more ambitious accountants use such companies as stepping stones to starting their private accounting firms or even pick up political appointments or become financial consultants.
Big Four job openings are quite sought-after and extremely competitive, but they are often associated with high pressures and expectations. (You can get more information on accounting job descriptions here). Most of the jobs in these big accounting firms involve carrying out complex auditing duties and tax evaluations, working with large organizations, and several other tasks that require working long hours and having a very keen sense of detail and responsibility.
Salaries at these big accounting outfits are very high, with startup annual salaries as high as $60,000. With about five years of working experience, management positions are possible for accountants with their pay package nearing $110,000 per annum. Accountants who are lucky enough to become partners of these big accounting firms can earn over $1,500,000 per annum which justifies the pressure, long hours and efforts the job requires.
Small to Medium Size Local Accounting Firms, CPA Offices, and Tax Firms
Due to the very high competition in the Big Four accounting firms, most accountants go for local, and smaller accounting companies where there is less competition. Such jobs are abundant all over the United States and can be secured more easily without much competition.
Most tasks carried out by accountants in these jobs involve taking care of taxes, audits, and financial management for both large and small companies and businesses. Salaries are quite encouraging in these firms too, totalling well over $50, 000 per annum, with a much higher pay package for accountants who have either just acquired their CPA designation or are already employed by CPA firms.
While these jobs require less pressure, there are also less opportunities to advance your career. On rare occasions, there are partnership opportunities, but such opportunities may not be available till you have invested several years in the job. For accountants who desire stable jobs, and experience(to boost your CV) with constant work and little pressure, working for one of these accounting firms is a very good choice. You must prepare yourself for carrying out some Excel work!
The Accounting Department of a Company
Apart from working for one of the Big Four accounting firms, or local accounts companies, most accountants prefer to pick up accounting jobs within the accounting departments of a company. Positions in this field vary from accounting officers and bookkeepers to CPA’s and managerial accountants, depending on the accountant’s educational qualifications.
Most high school and college graduates begin their careers as accountants from entry-level positions in order to gather experience while pursuing more advanced academic qualifications and jobs with greater responsibilities. Accountants who occupy such entry-level positions are responsible for calculating company payroll, filing proper taxes for the company, entering the company’s accounts and finances into their systems, balancing of accounts, and several other accounting tasks.
These accounting jobs are readily available without too much competition, but most times, they come with low pay packages depending on who is hiring. Most of these jobs start at $30,000 per annum, and others are part-time jobs and pay less. For any accountant who wishes to rise to the Zenith of the accounting profession, they only work on these jobs for a short period of time till they get better paying jobs with more benefits and advancement opportunities, or till they can be promoted to higher positions in the company.
There are opportunities for you to advance to higher positions within these firms to managers of accounting departments and heads of accounting that partake in taking major decisions with other company executives and heads of other departments. Once you are able to get promoted, your salary will not remain low for a long time.
Now that you have all the information you need about these jobs, go out and grab one of them!
No matter the accounting area you are interested in pursuing, there are several job opportunities that are available to help you gain active experience while fine-tuning your accounting skills and prowess. From little towns to very large cities, job opportunities are always available for educated accountants who are good when it comes to handling figures accurately, and have good business brains.
The moment a company discovers they can trust and rely on a particular accountant, they won’t like to let such accountant go for years. By building strong relationships with the executives of the company where you work, as an accountant you can be sure of enjoying an ever advancing career and a recurrent annual income.