Career Prospects for Accounting Students
ฝัง
- เผยแพร่เมื่อ 7 มิ.ย. 2024
- Are you considering a career in accounting? This video tackles the burning question: does accounting have a good future?
We delve into the high demand for accountants in the US, exploring reasons for the current shortage:
Burnout from long hours in public accounting, pushing professionals to greener pastures.
Attractive salaries in finance and tech luring college graduates away from accounting majors.
Perceptions of accounting as boring and monotonous contributing to declining interest.
Despite these challenges, the current outlook remains positive for accountants, with job openings projected to grow, even as the profession evolves.
Watch this video for:
- Insights into the demand for accountants
- Understanding the reasons behind the shortage
- Weighing the pros and cons of a career in accounting
Whether you're a student pondering your future or a professional considering a career change, this video offers valuable information to help you make an informed decision.
0:00 Introduction
0:24 The demand for accountants
1:33 Reasons for the shortage of accountants
3:06 How technology might affect the demand for accountants
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I'm almost 3 years into my accounting career and I can attest to the fact that the work does get mundane. In light of this, I 1000% agree with your take on the skills that the modern/future accountant should possess! With my accounting knowledge & experience, I see myself solving loads of problems using data analysis, and this makes my work exciting.
What an amazing time to be in accounting - where AI is gradually taking away the mundane aspects of our work and encouraging us to become financially proficient, tech-savvy business gurus ☺️!
I'm in a tax senior in public accounting, in a top 10 firm. The shortage is real, recruiting is rough and the biggest issue I have seen is directly linked to salary, but unfortunately management doesn't see it that way. Instead of of paying people more, they would rather have people do the jobs of two to three people and keep pay the same thus creating a worse squeeze of losing people and increasing workloads.
I don't believe it (that the shortage is real)!
I possess a DEEP understanding of the conceptual framework of accounting. I was even certified. And...I couldn't find an accounting job to save my life. That went on for decades. Then I got FED up and altogether quit looking around the year 2018. NEVER AGAIN!
That so called "shortage" is code for " we can't find enough white accountants". That's what it's REALLY all about!
Currently in public accounting, described the current state of this career perfectly! Thank you for the video
I love and respect you Professor! You are the best and thank you for taking the time to teach and guide us through this journey. 😊
Thank you so much for this kind comment Karla!
I graduated a year ago with a Bachelors in account and have been looking for a job in the Bay Area ever since. Maybe it is just a symptom of Northern California, but it seems like nobody wants you until you pass a threshold of 5 years of experience, then you become the hottest commodity on the market.
It's a difficult situation - how do they expect you to have 5 years of experience if no one ever gives you a chance? I hope it works out for you. Maybe you can obtain a remote position outside the Bay area to get some initial experience.
@Edspira Thank you. The system doesn't make sense, but I am hoping that any day now, a firm will let me get my foot in the door.
I'm a current accounting student, and I'm excited to start working in a field that's changing so rapidly and in such high demand!
Welcome to the profession! I hope you have a very fulfilling career.
Love you, sir ❤️
You are the best. I have learn alot things from you
How can the long hours/low pay aspect be addressed? In the UK, working in practice definitely pays less than working in industry, although there is greater cachet. Industry has far more variety too - I enjoyed my time in compliance, but it's repetitive and clients rarely take advantage of the business advisory capabilities of the accountants they hire. Long hours are more a thing working in industry, though. I think much has to be said for the conscientious nature of accountants in this regard - you don't go into the profession if you're just after an easy buck, you do it because you care about detail, honesty, tidiness - and that drive to "get things right" can lead one into some very late nights!
It's only later you realise the exciting directions that accounting can take you, and the value you can add to a business.
Most degrees in the UK cover business analytics and management, not just the core accounting topics. It's definitely the future, and I actually look forward to seeing how AI can take some of the "getting things right" pressure off the job so we can really prove our worth. Would be interested to know your thoughts on this, Mr Edspira!
I agree with you that analytics will (and should be) a key component of accounting programs going forward. I didn't realize this was already the case in the UK. In the U.S., I know Indiana's Kelley School of Business requires that data analytics be a component of each accounting course, and that many other universities are moving in this same direction.
Modern accounts are in a sweet spot between business knowledge and technology.
Insightful 💯
Thank you!
Great!
Thank you!
Tax compliance advisory would be such a beneficial role in Accounting to work for internationally, if tax laws were not locally relative to the countries that they affect.
Agreed!
Tech skills will become hard skills for the future accountants.
Agreed!
Hello, I watched your video for the first time it was helpful. Can you make a video for the Accounting Skills needed before starting work? Can you share a sample of the accounting resume? So that I can make my resume and work in the USA. Thank you in advance Sir 😍😍😍
I previously made a video titled "Skills Needed for Accounting Job" which you can watch here: th-cam.com/video/-pN7K1ErAy0/w-d-xo.html
@@Edspira Thank you so much for answering my question 😍😍😍
One of the problems with industry accounting is Big 4 goons bringing that culture into industry. There is no reason to be working those hours. We are not saving lives and nobody dies based on 10Ks. Accountants have an attitude and culture problem that they refuse change.
Yes, it is difficult when people are asked to give a significant portion of their lives to a company, which may discard them when they are no longer useful.
I feel like strong accountants will be paid well because I heard that 75% of CPAs have reached retirement age in 2020.
Yes there are a lot of retirements on the way!
Accounting jobs are more or less secured from AI because they work in a fairly confidential environment.
AI is nothing but media hype.
Accounting jobs are more or less secured from AI - *for now*. Protecting confidentiality is just another problem that will be overcome. Don't underestimate it - it's here and not going away.
@@bordershader AI already went away. Computers were always streamlining jobs more quickly and efficiently. That's what The media does buy giving it some stupid name called "AI" - isn't changing that game field.
@markmower1746 I work in AI for a large PA firm. I promise you have no idea what you’re talking about.
@@perrybarnacle kid, you think there's 58 genders. You fall for anything the media feed you. Trust me on that one.