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Is this field growing enough so that there's room for someone like me?

#accounting #finance #financial-accounting #business

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Astou’s Answer

Hi Taylor,

I hope all is well! You have nothing to worry about. The accounting profession is still growing and still needs people like you! In fact, according to the Bureau of Labor Statistics, the employment in accounting is projected to grow by 6% from 2018-2028. This is as fast as the average growing rate for all occupations. Besides, as long as there is business, there is always a need for an accountant!

If you are really interesting in learning more about the accounting profession, you can start by thinking about what area of accounting you are most interested in. Some accountants are specialized in Auditing, others in Tax or Consulting. In addition, some accountants work in public accounting firms such as PwC and others work with small businesses or financial institutions such as banks. If you think about what area of accounting you are interested in, it can help you have a more clear understanding of the requirements you need in terms of education or experience to have a job in the accounting field.

When I was in high school, I was interested in becoming an auditor because I liked the fact that auditors made sure that businesses or government provided the right financial information to the public. As I was learning about it, I learned that to become an auditor, I would need to have a degree in accounting or finance. As I was studying accounting, I started to look at companies that I wanted to work for and their requirement in terms of experience. After I had all the information that I needed, I started to work on my resume and I got the experience that I needed. Eventually, I was able to get a job at PwC.

Please let me know if you have any more questions about the accounting field, I would be happy to answer them!

Astou recommends the following next steps:

Figure out what area of accounting you like
Figure out what requirements are needed (Education, Experience)
Thank you comment icon This is a really great answer, Astou! Thank you for sharing stats, tips for entering the field, and your personal experience to get to PwC! yoonji KIM, Admin
Thank you comment icon Thank you for the information! Is there another way I can be able to get in touch with you? I would like to ask other questions concerning this because this is something I’m really considering for my future! Taylor
Thank you comment icon Thank you! Is there another way to reach you? I actually do have other questions regarding this because it’s something I’m looking at for my future career! Taylor
Thank you comment icon Hi Taylor! I would really love to continue helping you as much as I can. I know how challenging it can be to try to figure out what you want to do. It doesn't seem like I can give you another way to reach me as per carreer village policy. However, it doesn't hurt to ask. @YoonjiKim please let me know if I understood the policy correctly. Astou Dembele
Thank you comment icon Hi Astou and Taylor! Yes, that is correct. Since all the information on CareerVillage is open-access, to respect the safety and privacy of our community members, we do not allow the sharing of personal information on the platform. HOWEVER, Taylor, you can post a question and Astou can keep an eye on your profil for any new, relevant questions to her expertise. (Astou, Taylor's profile linke is here: https://www.careervillage.org/users/76546/taylor/)! Hope this workaround is helpful. Please reach out to our "Contact us" button below if you have any follow up questions and our team would be happy to support you! yoonji KIM, Admin
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Molly’s Answer

Absolutely! I know a concern that frequently comes up is regarding technology and the effect it is having on the job market. Will my job be replaced by a robot? From an accounting perspective, the answer is absolutely not! The accounting profession is growing and changing constantly and this growth and change results in new and exciting job opportunities. For instance, a firm may use technology to automate a simple task, so what do our interns and new joiners do instead? They analyze the results of the automation. So instead of repeating a task over and over, you are instead elevated to the role of a reviewer and analyzer. So YES there is plenty of room for you and I encourage you to get out there and look at internships & jobs!
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Ashley’s Answer

Absolutely. The accounting industry is always in demand and will continue to recruit students from campus. Trust me..I am a Campus Recruiter. If you want to make yourself even more marketable or differentiate yourself from your peers, I would recommend double majoring or minoring in a field realted to Comsputer Science/Analytics/MIS. The industry is shifting and the demand for Accounting + Technology is becoming more and more relevant. Good luck!!
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James’s Answer

Lucky for you, the accounting field is always hiring due to a few factors.

One being accounting change and regulation. Everytime a law is passed that affects the accounting profession, new work is created and new jobs will follow suit.

Another factor is turnover. The typical professional stays in public accounting for 3-5 years so there are always new openings and opportunities for advancement.

Hope this is helpful
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Justin’s Answer

Personally I think the field is growing and there is room for all those who are interested in accounting! Technology is allowing accountants to take a more indepth look into the data they are analyzing which allow them to add value to their clients. Overall it is an exciting time to be an accountant with the new emerging technologies.

Best of luck on your pursuits!
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Ivan’s Answer

As a commercial lender, I meet with partners and senior management from many accounting firms (small and large). They are always discussing the challenges of recruiting recent graduates with accounting degrees. In addition to accounting firms, accounting graduates are being recruited by public and private companies, finance companies, and private equity firms. Whichever path you decide, I recommend joining a large firm/company for exposure to the different departments and aspects of the profession. Enjoy the journey!
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Solmaira’s Answer

This is definitely a growing field with lots of opportunities for someone like you. I recommend looking into a minor or double major in management information systems as the IT audit field is vastly growing and the demand for IT audit professionals is on the rise. Professionals that have both an accounting and technology background are very sought after and are exposed to a lot more opportunities.

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Emilio’s Answer

I think the accounting field is growing a lot in recent years and will continue to grow. There are so many different paths you can take as an accountant and with this big technological push there will always be a need for someone to crunch the numbers and solve problems.
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Iman’s Answer

Yes, absolutely. If you are looking for a job in accounting, there are always jobs available in the field. I would recommend looking into Big 4 accounting firms, as well. They are always hiring on a very regular basis in all major cities, including many cities in Texas for you!
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Gianna’s Answer

Hello Taylor,

The accounting industry is of high demand for jobs all of the time. If you are interested in accounting, I would also suggest looking into getting another major or a minor in MIS/Analytics, or something in that nature. The future of businesses is heading towards more use of analytics, so having a major/minor in this would allow you to have an advantage over others that do not.
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Kiana’s Answer

While the accounting industry is constantly growing and developing, especially technologically, the industry will still need people to analyze and deal with complex problems. Data automation and other new programs are being used to help minimize the tedious and routine tasks that don't require a lot of human analysis, but technology will not replace the need for accountants' analysis in the profession. Therefore, you will still be needed in the accounting workforce.
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Timothy’s Answer

Hey Taylor! The accounting profession is so diverse with many different opportunities. There is public accounting, corporate accounting, tax accountants, forensic accountants, and financial planning to name a few. People with accounting degrees are very marketable in the workforce, and as mentioned in previous posts, there is a growing need for them. I am certain you will find your way in this field.

Timothy recommends the following next steps:

Find a strong college accounting program (if you are not in one already).
Reddit (website) has an accounting thread (r/accounting). You can see a ton of different questions and conversations about accounting and careers.
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Natalia’s Answer

Operational finance is essential in every economy: on global level, country level and on enterprise level. Whilst some sectors of finance work are being automated they're lots of new opportunities especially in areas like risk management, audit & control , programming for finance, etc. There's always room for innovative and adaptable people willing to learn.

Good luck in your career!
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Danielle’s Answer

Hi Taylor,

One of the best things I like about working at PwC is how inclusive it is!

The accounting field continues to grow and there are many opportunities out there. I would encourage you to take an accounting class to see if you like it.

Best wishes on your journey!
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Tony’s Answer

Hey Taylor,

Hope you are doing well, short answer, Yes, the field is growing fast and there is room for you!

I am an auditor and I majored in Accounting in the college, so I will talk more on the accounting side. You might heard this before, Accounting is the language of business. And it is the basis of business, it provides the rules on how a business should operate on the number/monetary side. Every business needs accounting/accountant, as long as the economy is growing, accounting industry will not stop growing.

I strongly agree to Solmaria's idea on studying both IT side and Accounting, as the industry and the world is moving toward a more digital direction. Digital application, data, and technology will change how business and accounting operate. Courses related to ERP system, information system, database system, etc will help future auditor/accountant get more prepared for any challenges and opportunities in the career.

Good Luck to you and let me know if you have any other question.
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Kevin’s Answer

Absolutely, and it is always evolving. Technology is enabling us to automate more of the transactional work, but it is also making the work much more meaningful. There is always a need for people who understand how value is created in a business, how to account for value transfer and how to communicate this information to stakeholders. The foundational knowledge is critical, but your success will come from developing skills outside of the traditional 'accountant' stereotype.
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