A career in accounting can be very rewarding, but it isn’t the right choice for everybody. If you are considering the prospects of completing your masters of accounting course, then the first thing you need to figure out is if you are ready for the career path that this line of education will lead you on. The key to doing that lies in considering the pros and cons, which we are going to discuss here.
Definite and Clear
An online masters degree in accounting from the reputed Maryville University will teach you a set of very useful and real life skills that will allow you to crunch numbers, analyze financial data, and increase the financial efficiency of every business investment. What this means is that whether you start a business of your own or work for someone else, you will have the necessary knowledge to make a career out of what you learned during the course. The job of an accountant is very clear cut and practical, which leaves little space for confusion in regard to your career path.
Growth and Earning Potential
Both the growth opportunities and the earning potentials are very good for an accountant. Consider the fact that the Bureau of Labor Statistics (BLS) has estimated employment in the field of accountancy to grow by as much as 11% by 2024. In terms of earning potential, the lowest paid accountants in the US earn a minimum of $41,000 (approx.), while the best-placed accounting professionals often cross the $120,000 mark. The average accountant’s salary hovers somewhere around the $70,000 mark.
The Perfect Degree for an Entrepreneur
In case you have plans of starting something of your own, simply taking up an online masters of accounting program can benefit you greatly. You will always have that option of opening your own accounting firm once you have gained the necessary years of experience in the field, but that’s not all. As a trained accountant, you will be able to handle and direct your business’s every financial move better than most others, irrespective of the nature of the business you choose to start.
Accounting mostly consists of financial investigations and a whole lot of math; if you are not comfortable with numbers, accounting is not for you. It’s not the most glamorous career out there, and for many people, it might also seem quite boring. On the other hand, if you have a sharp mind and you always found mathematics to be an interesting subject, you will probably like facing the daily challenges.
The Job is Stressful
Beginning on January 1 and lasting until April 15, most accountants find that they need to stretch their 9-to-5 jobs well beyond 5 PM. Tax season is a stressful time for all accountants and especially so if you are in charge of a large company’s financial records. The good news is that the stress often relaxes significantly after April.
Go through the points discussed here and see if you find any of the points to be a deal breaker. The truth is that if you are reading this, you are probably good in math and you have a sharp enough mind to be an accountant. The only question is will you enjoy the challenges that come with the territory?