A commonly perpetuated myth on college campuses is that if you study accounting, the only career in your future is that of accounting. While many graduates holding a bachelor’s degree in accounting will go on to become accountants and even CPAs, also known as certified public accountants, that is far from the only option.
Investigate five interesting careers perfect for those who graduate with a degree in the field of accounting.
1. Tax Adviser
Both individuals and businesses want to learn how to minimize their tax payments while still adhering to the letter of the law, which is why there is such a huge demand for tax advisers.
Different from a tax preparer, an adviser is someone who can recommend where and how to place assets or spend income in order to reduce a tax liability.
For example, a tax adviser might suggest to a young professional that they place the full amount allowed each year in an IRA, or independent retirement account, because these investments are tax-free. Or, a business tax adviser might calculate how much of a donation to charity will be tax-deductible.
After earning a degree in accounting and focusing on subjects like business computer skills, economics and statistics, some graduates decide to head into the field of banking.
You might work as a loan officer in a bank helping customers directly, or you might work in a corporate banking capacity where you help financial organizations spend their own budget or manage assets.
3. Financial Analyst
If you are looking for a career with enormous salary potential, then working as a financial analyst can be a great use of your accounting degree. The role of a financial analyst is to make recommendations based on the financial climate and the state of the economy.
A financial analyst might suggest to a client that now is the right time to invest in gold, or they might suggest that a business expand in a particular country due to significant growth in the region.
4. Payroll Supervisor
At the root of accounting is the idea of comparing expenditures with deposits and balancing the books. If you enjoy handling financial documents, then working as a payroll clerk or supervisor might be ideal.
As a payroll professional, your job would be to write checks to employees each pay period, ensure that all staff are receiving the correct bonuses and providing reimbursements to staff for things like business travel.
5. Internal Auditor
In corporations, political parties and government agencies, budgets can run into the billions easily. With so much money in play, tracking every dollar is a vital job. Internal auditors pore over expenses, payroll and more in order to find out where all the money is going as well as how some of it can be recouped.
An internal auditor might recommend switching suppliers to a company gearing up for expansion, or they could suggest that a financially struggling company change their marketing tactics and work with a more affordable firm.
Earning a degree in accounting doesn’t mean you are destined to become an accountant. There are a variety of careers open to graduates holding a college degree in accounting.