12 In-Demand Finance and Accounting Careers

Posted in CategoryCareer and Jobs
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    Iheonu Nkechi Gloria 2 years ago

    Monica Borgida, faculty lead for Northeastern’s admits that the term “accounting” doesn’t always conjure up excitement for prospective students. But she believes it should. While people frequently use buzzwords like “bitcoin” and “cryptocurrency,” she says, they fail to realize that what underlies these exciting technologies are tried-and-true accounting principles.

    These buzzwords are key examples of how the finance and technology industries—together referred to as “fintech”—are beginning to intersect. Along with globalization and increasingly complex regulatory frameworks, the growth of the “fintech” industry means the demand for finance and accounting professionals will continue to rise for the foreseeable future. According to the  employment for financial occupations is expected to grow 10 percent by 2026, introducing more than 773,800 new jobs to the marketplace.

    As the financial industry evolves, Borgida says, companies are racing to find new finance and accounting talent, making it an opportune time for students to upskill and break into the field. According to the  here are 10 of the most in-demand finance and accounting careers for bachelor’s degree holders in today’s market.

    Top Finance and Accounting Jobs

    1. Controller

    Controllers and assistant controllers prepare financial statements and reports that summarize and forecast a business’s activity and financial position. They may also develop internal policies and procedures for an organization’s budget administration, cash and credit management, and accounting functions.

     

    10-Year Projected Growth: 16%

     

    2. Financial Manager

    Financial managers are responsible for the financial health of an organization. They generate financial reports and develop strategies to help meet the long-term financial goals of their organization.

     

    10-Year Projected Growth: 15%

     

    3. Management Consultant

    Management consultants, also known as management analysts, propose improvements for operational efficiencies, in an effort to make organizations more profitable through reduced costs and increased revenues.

    10-Year Projected Growth: 14%

     

    4. Personal Financial Advisor

    help their clients understand the health of their finances and make personal investment decisions. They monitor the state of clients’ investments and finances and can provide advice on insurance, mortgages, college savings, estate planning, taxes, and retirement.

    Average Salary: $87,850

    10-Year Projected Growth: 4%

     

    5. Financial Analyst

    They examine an organization’s financial data. By analyzing past financial and investment data, as well as estimating future revenues and expenditures, they can provide guidance to businesses making investment decisions and forecasting for the future.

     

    10-Year Projected Growth: 5%

     

    6. Treasury Analyst

    Treasury analysts monitor an organization’s financial activity, including cash flow, liabilities, and assets. They analyze budgets, expenses, and future investments to decide whether payments coming to and from the company are being processed properly.

     

    10-Year Projected Growth: 6%

     

    7. Accounting Manager

    Accounting managers oversee the operations of an organization’s accounting department. They analyze and report financial information, assist with tax processing, and create financial statements to present to the company’s board of directors.

    10-Year Projected Growth: 16%

     

    8. Budget Analyst

    Budget analysts help companies organize their finances, prepare budget reports, and monitor institutional spending. They regularly review an organization’s financial plans for completeness, accuracy, and conformance with regulations and organizational objectives.

     

    10-Year Projected Growth: 3%

     

    9. Senior Tax Accountant

    Tax accountants prepare federal, state, and local tax returns for individuals, businesses, or other organizations.

     

    10-Year Projected Growth: 6%

     

    10. Accountant

     prepare, maintain, and examine the accuracy of financial statements for an organization. They ensure all financial records, such as balance sheets, income and loss statements, cash flow statements, and tax returns, are compliant with federal laws, regulations, and generally accepted accounting principles (GAAP). They are also responsible for identifying and resolving any discrepancies in records, statements, or documented transactions.

    10-Year Projected Growth: 4%

     

    11. Auditor

    Internal auditors and audit managers identify financial and business risks and assess compliance with government regulations. They evaluate existing internal controls, identify areas for improvement, and may coordinate the implementation of internal improvement efforts.

     

    10-Year Projected Growth: 4%

     

    12. Credit Analyst

    These professionals review and analyze financial information from sources such as reporting services, credit bureaus, and bank branches to evaluate the profitability of loan requests and approve or deny loan applications.

    Average Salary: $67,844

    10-Year Projected Growth: 8%

     

    Skills for Finance and Accounting Careers

    Borgida says that the key to success in any of these careers is to develop an interdisciplinary skill set that focuses on finance, technology, and communication.

    “Successful professionals in the field are critical thinkers,” she says. “They’re analysts, problem solvers, and effective communicators that combine financial knowledge, technical aptitude, and interpersonal skill to solve complex business problems.”the skills in greatest demand among financial professionals include:

      • Financial analysis
      • Accounting
      • Sales
      • Financial management and reporting
      • Project management
      • Technology skills
      • Data analytics

    Borgida notes that even for those who have already been in the industry for some time, emerging technologies are requiring people to sharpen and update their skill set. One way to gain the necessary skills, she says.

    After earning a Borgida’s former students now work at leading financial institutions and consulting agencies, such as Citibank, Accenture, KPMG, Capital One, PWC, New York Life, Deloitte, and JP Morgan.

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