Three Reasons Millennials Should Consider a Career in Accounting
If we’re to paint millennials with a broad stroke, the group isn’t terribly fond of anything perceived as “the system” that is corporate America. The drudgery of a 9-5 desk job (that they likely hate), only to “buy things we don’t need with money we don’t have to impress people we don’t like,” can feel like a fate worse than death. For a group that values time over money, millennials are usually drawn to more entrepreneurial endeavors, particularly when they can marry their passions with their careers. So why would a millennial consider a career in a more traditional field like accounting?
• The U.S. Department of Labor’s Bureau of Labor Statistics shows a steady growth rate for accountants and auditors of 11% through 2024, which is significantly faster than the national average across all other careers. When not only job security, but landing a job at all on graduation, is such a concern for students, accounting offers both stability and growth.
• The median salary for accountants was just over $65,000 in 2014, which is just over 130% higher than the national median average. You may have access to better jobs with more opportunities to advance, particularly if you use your degree to prepare you for additional professional certifications in this dynamic and financially rewarding career.
• Finally, “Millennials want to clearly understand how the work they are doing impacts their organization as a whole, and how their ideas can be communicated to management and potentially implemented.” For example, as an impartial watchdog, an internal auditor will perform their duties largely autonomously and will generally report directly to the CEO of a publicly traded company.
Life as an accountant means more than just crunching numbers – they fill key roles in many areas of a business. Some analyze data and identify opportunities to increase revenues or identify redundancies that can be combined to reduce expenses. Others consult with management teams, advising on product decisions, acquisitions, overhead costs, and more. As a career, accounting has a stable and lucrative history and remains relevant to all sectors of the economy. The growing job market, competitive salaries, and exposure to different areas of a business are all key factors that would make the career a good fit for a millennial.
An online accounting degree from the University of Alabama at Birmingham’s Collat School of Business can help prepare you to pursue an advanced degree or professional certification, such as Certified Management Accountant, Certified Internal Auditor, or Certified Fraud Examiner – all of which will further increase your stock in the job market.