It turns out that accountants ARE exciting after all!
Accountants. You may just think of them as dreary side characters from TV dramas and the musical The Producers. As it turns out, there are some seriously awesome benefits to their industry that most people are unaware of. It's especially hard to ignore these upsides during times of economic unrest. To this end, if you're uncertain about the future, it's worth it to consider going back to school and getting that Masters of Accountancy.
Three of the main reasons are:
The (Exciting) Jobs
If you're like us, you probably did a double-take at the notion of accounting jobs being exciting. After all, when was the last time that you saw an accountant answering an emergency text message and rushing off to do some super-secret accounting mission? What kind of excitement even happens on the job as an accountant? Someone spills coffee on your oversized 1900s adding machine?
As it turns out, there's a lot of awesome jobs that use accounting skills. Forensic accountants are basically crime scene investigators that solve white-collar crimes. In fact, numerous defense sectors in the United States employ accountants to make sure that business transactions between countries are safe and legal. Accountants are also major players in the transformation of the healthcare industry. From theme parks to movie mergers, accountants play a role in making sure that all sorts of awesome business transactions happen.
Remember when Marvel Studios got the rights back to put Spiderman in the Marvel Cinematic Universe? Some part of that involved an accountant literally accounting that deal into existence.
Accountants are always in demand, and the pay for the field reflects that. In addition to a high degree of job security, a Master's degree in accounting starts workers off with solid compensation. The nationwide average salary for entry-level accountants is $52,000 per year, and that number can increase pretty rapidly.
Consistent demand also means that people with degrees in accounting enjoy a good degree of job security. For instance, the Daniels College of Business in Denver boasts that 94% of graduates have full-time jobs in relevant fields within 6 months after graduating with a Master's in Accountancy. Other schools aren't far behind, making this a solid direction if you want to ensure that you never miss a paycheck.
Okay, okay. So we've established that the world of accountancy has some pretty sweet benefits once you get established. But how do you get there? Like all Master's programs, the place where you study can make a world of difference, both in the skills you acquire and the professional network you'll have when you graduate. The main reason that accountants are valued in countless industries is the skillset that they bring to the table. Good accounting programs don't just teach financial math, they teach the wide range of concepts that make the math work. This means that students graduate with a deep, marketable understanding of the business world, along with the larger financial patterns that move it.
Additionally, most accounting programs offer specialized curriculums that help students hone their unique interests and make themselves more competitive within their chosen area. For example, the aforementioned Daniels College of Business offers students a highly customized curriculum that allows them to tailor their study to best prepare them for the industry that they want to work in. From film finance to medical accounting, a good Master's program ensures that you'll be equipped with all the important skills and concepts you need to succeed before you even graduate.
The only thing you can't learn in these programs is how to dress stylishly, a serious shortcoming in the accountant world if television and the musical The Producers is to be believed.
What are your thoughts on financial education? Has 2020 changed your plans in regards to higher education? Let us know in the comments!