Salary & Employment Outlook for Accountants
If you're considering getting an online degree in accounting, then the U.S. Bureau of Labor Statistics has good news. You should have no trouble finding a job. The bureau predicts that employment opportunities for accountants and auditors will increase by 22 percent through 2018, representing a total increase of about 280,000 jobs.
Employment Outlook
As the number of new and growing businesses continues to increase throughout the U.S., there will be more and more positions available for accountants to do the books, prepare taxes, and give financial advice to management. Accountants will also be needed to help deal with the growing volume and complexity of international business transactions. Additionally, the increased scrutiny and transparency placed on businesses is also creating a need for more accountants and auditors.
Accountants who are certified, especially Certified Public Accountants (CPAs), will have the best job prospects, followed by those who possess a master's degree in accounting or a master's degree in business administration with a concentration in accounting. Accountants who are skilled in interpersonal relations, accounting software, and written communication will also have improved job prospects.
You may be concerned that your online degree will be discounted by employers, even if your degree is from a rigorous, accredited online university. This is a legitimate concern, but online degrees are becoming more acceptable in the eyes of employers. According to the Sloan Consortium, a non-profit organization that studies online education, recently found that the number of people participating in online education is growing at a rate of 19.7 percent, compared to a growth rate of 1.6 percent for the number of students taking higher education classes. The direct result of this is that more and more people are entering the workforce with online diplomas.
Many graduates from online schools choose to take junior accounting positions with the hopes of one day advancing within the company by demonstrating their skills on the job. They also pursue certification, including the Certified Public Accountant designation, in order to demonstrate that they are highly competent as an accountant.
Salary Outlook
In 2008, according to the U.S. Bureau of Labor Statistics, the median annual salary of accountants and auditors was $59,430. The bottom 10 percent of accountants earned less than $36,720, and the top 10 percent earned more than $102,380 per year.
A salary survey conducted by the National Association of Colleges and Employers found that people with bachelor's degrees in accounting received an average starting offer of $48,993 per year, while those with master's degrees in accounting received an average offer of $49,786 per year.
Article Resources:
U.S. Bureau of Labor Statistics
The Sloan Consortium
Eduventures
Glad you liked it. Would you like to share?
Sharing this page …
Thanks! Close
Add New Comment
Showing 0 comments