Accounting is one of the most rewarding subjects to study, but it also has a lot of competition in terms of jobs in the market. More than 6 million people are working in related careers in the US alone—and that number keeps growing every year.
To stand out from your peers and land an accounting job at a top firm, you’ll need to be able to demonstrate your skills with strong analytical thinking and problem-solving abilities. On average, accountants in the US make around $53,668 annually. But there are many different jobs in the field of finance and accounting. Here are a few accounting jobs you can consider.
Tax consultants help clients with tax planning and preparation for all types of businesses, including individuals and small businesses. They typically work with various clients – from large corporations to sole proprietorships – and can specialize in one area, such as estate planning or business structuring. Tax consultants are usually lawyers or CPAs who have passed the highest levels of their respective state licensing exams. Tax consultants review their client’s finances regularly while working with them to provide recommendations based on what is best for the client. Their services can help clients save money by reducing their tax liability and planning for the future. On average, tax consultants in the US make around $71,138 per year.
This position is most likely to be found in the public sector, where you’ll have access to a wide range of people and their needs. You need to understand what is the primary role of a government accountant to find out if this job is better suited to your needs or not. Government accountants are responsible for managing public funds, investigating white-collar crimes, performing audits for government agencies, and researching emerging economic issues. They have the important duty of managing the use of federal, state, and local taxpayer dollars. They ensure that governmental bodies are ethical, efficient, and transparent in their use of funds.
Staff accountants are responsible for assisting the accounting department in companies. Their main goal is to ensure that all accounting tasks are completed successfully and on time and that they’re done right the first time. The staff accountant is often asked to do many things at once: handle some basic accounting tasks such as entering invoices into QuickBooks, analyzing data from other departments within an organization, creating graphs and charts based on these analyses/reports, etc. Staff accountants make around $56,527 annually on average in the US.
Forensic accountants are often called upon to help in criminal investigations. They work with law enforcement agencies, insurance companies, and government agencies to examine financial records and determine whether someone has committed a crime. A forensic accountant will look at bank statements, company ledgers, tax returns, and other documents that can provide evidence of money laundering or fraud. The examiner will also use their knowledge of accounting principles to explain how certain transactions could be interpreted as fraudulent activity on the part of the accused. Forensic accountants make about $79,912 per year in the US.
If you have a knack for math and are interested in working in an industry that requires financial analysis, cost estimator is the right job for you. Cost estimators determine how much products or services should cost and how much profit companies can make. They also help businesses ensure they’re not overcharging customers. Cost estimators analyze costs to determine where money is being spent to improve efficiency within their company. In other words: They help companies save money! As a cost estimator in the US, you can expect to earn $66,029 on average.
Payroll clerks are responsible for preparing and maintaining payroll records. They also calculate salaries and wages, prepare payroll checks, file tax returns, and prepare tax payments. Payroll clerks are required to keep employee records up-to-date so that they can be used in the preparation of wage statements or other documents necessary for employees’ employment rights. Payroll clerks are also responsible for calculating and processing payroll tax deductions, such as Social Security and Medicare taxes. They also record all employee data and input the information into a computer system. The average salary of a payroll clerk in the US is $47,074 per year.
Financial analysts analyze financial data and make recommendations based on their findings. These professionals typically work in teams and must have strong communication skills. Many financial analysts are expected to have a good understanding of business operations, accounting, and finance, including taxes, as well as other areas such as management and economics. Financial analysts, also known as business analysts, guide companies toward a more successful financial future. They provide financial ramifications for any decision so that the management can make data-driven decisions to improve the organization’s finances. You can expect an average salary of $71,618 a year as a financial analyst.
Actuaries are highly trained professionals who use statistics to assess risk and uncertainty. They work in the insurance industry for insurance companies. Their job is to calculate the premiums insurance companies need to charge to cover their costs and make a profit. Actuarial science is a scientific discipline within accounting that applies mathematics, statistics, and probability theory in analyzing financial data from an actuarial perspective. This is why it is a highly-paid job with an average salary of $110,983 a year in the US.
There is a wide range of accounting-related jobs you can apply for to progress your career in the field. Each job comes with a unique niche, dynamics, and rewards. Once you find one that matches your professional goals, prepare a roadmap that will help you get there.