A career in accounting is rewarding, with many growth opportunities. Several options can help you professionally succeed, depending on your intended career path. But, before we jump right onto the various roles that you can pursue with an accounting degree, let’s discuss in detail why you should even consider entering the accounting world in the first place.
First and foremost, regardless of the economic state, accountants are always in demand. Businesses, for instance, always need a qualified individual to oversee the finance department. Accountants play their role by providing critical financial data to the head that helps them in decision-making.
Unlike other professionals, individuals pursuing a career in accounting enjoy an excellent work-life balance. The accounting field is flexible in terms it offers part-time to full-time jobs. Contrary to popular belief, being efficient with numbers isn’t a primary requirement for becoming an accountant.
Today, with technological advancements like software and computers doing most of the work, accountants ensure that numbers add up. What matters for an accountant is to have numbers in hand and offer the best advice to companies.
With an accounting degree, you can also work in various industries, from restaurants to sports, because accountants are in demand wherever financial management is concerned.
If you want to advance your career in accounting, enrolling in educational programs without prerequisites would be the way to go. For instance, a masters in accounting online no GMAT required degree would be an ideal choice if you’re keen on taking accounting as a career. These degrees will help you avail opportunities crucial to professional growth.
With organizational and analytical skills, individuals holding an accounting degree also have the freedom to pursue non-traditional career pathways. A few of them are mentioned below.
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1. Fraud Investigator
Working as a fraud investigator, you will oversee the special investigations unit. You analyze fraud claims and evidence by interviewing people, gathering relevant information and documents, and testifying in court.
Strong analytical skills are required to investigate potential fraud threats like trademark infringement. Other fraud investigations include identity, tax, healthcare, and insurance fraud. As a fraud investigator, you work in a team or independently.
These professionals adhere to the relevant security standards, legislative requirements, and internal and external procedures. One of the significant roles of an investigator is to work closely with law enforcement agencies to ensure that the established cases are prosecuted to a criminal standard.
Besides identifying risks, fraud investigators enforce and implement fraud prevention and detection processes. Other responsibilities involve assessing transaction reports to detect suspicious activity and take immediate action.
Various skills distinguish a qualified fraud investigator from the rest. These skills are leadership skills, effective cost management abilities, in-depth knowledge of fraud types, and the ability to work under pressure.
2. Financial Advisor
Every company, regardless of its size, has short-term and long-term financial goals. Having a financial advisor on board aids in achieving these goals. According to the client’s requirement, a financial advisor advises regarding saving or investing money.
Other aspects of financial management that advisors go through with clients include estate planning, insurance plans, taxes, and retirement savings.
As a financial consultant, you stay updated with the current financial market trends and plan strategies accordingly. The key aspect of regulating the financial department within the organization is complying with all the rules and regulations governing the financial industry.
A financial advisor must be proficient in Microsoft excel, financial planning, and database management software. Solid critical thinking skills are essential in understanding the client’s needs. As a financial advisor, you must ensure the insurance products you work with are licensed.
If working with a small firm, advisors should be registered with state regulators, whereas those working with bigger firms are registered with the securities and exchange commission.
3. Business Analyst
Using data, business analysts assist companies in making decisions that streamline operations. With time, the demand for business analysts is increasing across industries due to evolving business needs requiring expert handling.
The most common techniques are SWOT analysis and mind mapping to procure desired outcomes. With the help of business information systems, these professionals resolve issues within the organization.
An analyst’s key role is ensuring the company is aligned with the ongoing changes in the corporate world. They implement technological expertise in the areas lacking updates pivotal to a company’s sales revenue.
The critical skills required to become a qualified business analyst include research, technical, problem-solving, and solid communication skills. Analysts use such expertise to create initiatives per the client’s requirements and develop projects.
The key to an organization’s success is constantly reviewing and analyzing the ongoing operations and making suitable changes. To ensure all that, an exceptional business analyst must be on board.
4. Investor Relations Manager
A respective investor relations manager is responsible for establishing communication between the company’s management department and its shareholders. Communications involve keeping the investors of the company updated about its financial position.
These professionals work with departments from legal to the executive management team to discuss matters related to public relations. As the leading head of the investor relations department, these individuals develop policies for collecting and formatting the data, which is later shared with investors.
It is ensured the policies developed are aligned with the regulations, principles, and business goals. Besides enforcing policies, the investor relations manager checks employees’ performance and improves underperforming areas.
The goal of a relations manager is to keep investors in the loop regarding any financial information. They do so by scheduling meetings with the investors.
In matters of public relations, the head provides the public’s feedback on products or services to the investors. It helps decide whether to proceed as it is or come up with new strategies to gain customers’ interest.
5. Sales Representative
A sales representative is assigned the job of bringing in as many customers as possible. The representative help customers in finding what they are looking for. Sales representative pitch and demonstrate products and address customers’ concerns.
You work as a sales representative in retail, technology, and the pharmaceutical industry. To attract customers, a sales representative must have an in-depth knowledge of the product they sell. That way, there is an increased likelihood of generating sales for the company.
Before finalizing a purchase, customers are more interested in gathering relevant information regarding a product. A representative must have solid customer service skills to answer all the queries to satisfy them. An exceptional salesperson should be confident in cold-calling customers, the most common type of marketing in the sales world.
Conclusion
From high earning potential to a fulfilling career, the accounting field offers many opportunities to help you accomplish your goals. Since many professions stick to one route, choosing a pathway that allows you to explore other options is overwhelming. In that case, an accounting degree offers plenty of professional freedom.
You cannot limit yourself to dealing with figures only. With an educational background in accounting, you can still pursue other roles like sales representative, business analyst, or financial advisor. It’s about where your interest lies and how much time and effort you invest to succeed professionally.