|
Accounting Career Pathing
Accounting as a Career
The Accounting profession has evolved into a dynamic landscape where accountants are integral to strategic decision-making within companies. Today’s accountants are not only adept at data analysis but are also forward-thinking strategists, actively participating in shaping the future of businesses by providing key insights into their financial performance. This evolution has provided accountants with diverse opportunities and specializations, from sustainability to forensics, making accounting a major with a wide array of career paths. With strategic insights and analytical prowess, accounting expertise is crucial to navigating the complexities of modern business environments.
Accounting serves as the footing of business operations, making it a foundational discipline for aspiring professionals. Choosing accounting as a major provides a solid framework of skills highly sought after in the job market, including critical thinking and analysis, problem-solving, data management, and beyond. With its emphasis on financial analysis and strategic decision-making, an accounting background not only prepares individuals for roles within the accounting field but also serves as a springboard to various career paths. For instance, a strong foundation in accounting can pave the way for a future career in finance, where the ability to interpret financial data and assess risks is paramount. Possessing accounting expertise positions individuals for leadership roles such as CEO or CFO, where financial acumen is essential for driving organizational success. Additionally, the skills acquired through accounting studies can empower individuals to become entrepreneurs, as they possess a deep understanding of financial management crucial for establishing and growing businesses.
Accounting as a profession comes with various benefits, including job security, career advancement, salary potential, and overall career satisfaction. The demand for skilled accountants remains consistently high across various industries, providing strong job security even in uncertain economic times. Additionally, accounting is a versatile field with diverse career opportunities, ranging from public accounting firms to corporate finance departments, government agencies, and beyond. This versatility allows for ample opportunities for career advancement, whether through climbing the ranks within a company, pursuing specialized certifications such as CPA (Certified Public Accountant), or branching out into consulting or entrepreneurship. In terms of salary, accountants typically enjoy competitive compensation, with opportunities for salary growth as they gain experience and expertise. Moreover, the analytical and problem-solving skills developed through accounting are highly transferable and valuable in many other professions, further enhancing career prospects and earning potential. Overall, studying accounting lays a solid foundation for a stable, rewarding, and lucrative career path.
Industry Areas, Concentrations, and Salaries
Public Accounting
Public accounting refers to the field of accounting that provides professional services to clients outside of an organization, such as individuals, businesses, and government entities. Public accountants offer services such as auditing, tax preparation, financial consulting, and advisory services to help clients meet regulatory requirements, make informed financial decisions, and maintain accurate financial records.
Top Job Titles
- Audit Associate/Manager
- Tax Associate/Manager
- Assurance Associate
- Forensic Accountant
- Business Valuation Analyst
- Financial Advisor
- External Auditor
- Risk Assurance Associate
- IT Auditor
- Internal Controls Analyst
- Mergers & Acquisitions Advisor
- Environmental/Sustainability Accountant
- International Financial Reporting Analyst
- Global Compliance Manager
- Litigation Support Specialist
- Fraud Investigator
Salary Ranges
Entry Level – $55-70K
Mid-Career – $80-140K
Corporate Accounting
Corporate accounting refers to the accounting activities and processes carried out within a specific organization or corporation. It involves the preparation and analysis of financial statements, management of internal financial records, budgeting, cost analysis, and compliance with accounting standards to provide accurate and timely financial information for decision-making and regulatory purposes.
Top Job Titles
- Corporate Accountant
- Corporate Strategy Analyst
- Financial Services Broker
- Staff Accountant
- Transaction analyst
- Bookkeeping & Accounting Clerk
- Billing Clerk
- Financial Reporting Analyst
- Tax Specialist
- Internal Auditor
- Accounts Payable/Receivable Manager
- Treasury Analyst
- Payroll Manager
Salary Ranges
Entry-level – $50-65K
Mid-Career – $70-110K
Management/Cost Accounting
Management or cost accounting focuses on providing information to internal stakeholders within an organization to support decision-making, planning, and control. It involves analyzing costs, budgeting, performance measurement, and financial analysis to help management make informed choices and optimize resources for operational efficiency and profitability
Top Job Titles
- Management Accountant
- Cost Accountant
- Financial Planning and Analysis Manager
- Budget Analyst
- Trends & Forecast Accountant
- Inventory Valuation Manager
- Internal Auditor
- Treasurer
- Management Reporting Analyst
- Cost Analyst
- Business Performance Manager
- Strategic Planner
- Decision Support Analyst
- Financial Controller
Salary Ranges
Entry-level – $50-70K
Mid-Career – $70-105K
Government
Government accounting refers to the specialized field of accounting that is concerned with the financial management and reporting of public sector entities, such as government agencies, municipalities, and non-profit organizations. It involves maintaining accurate financial records, ensuring compliance with legal and regulatory requirements, and providing transparency in the use of public funds to support effective governance and accountability.
Top Job Titles
- Government Accountant
- Financial Manager
- Auditor
- Grants Specialist
- Revenue Analyst
- Cost Accountant
- Internal Control Specialist
- Treasury Analyst
- Researcher
- Internal Revenue (IRS) Agent
- State or Municipal Controller
Salary Ranges
Entry-level – $55-80K
Mid-Career – $60-90K
Non-Profit
Non-profit accounting involves the unique accounting practices and principles applied to organizations that operate for charitable, educational, or public service purposes, rather than for profit. It focuses on accurately recording and reporting financial transactions, managing restricted funds, and providing transparency to stakeholders to ensure the proper stewardship of resources and compliance with regulations governing non-profit entities.
Top Job Titles
- Grants Accountant / Grants Manager
- Fundraising Accountant
- Budget Manager
- Compliance Officer
- Controller
- Financial Reporting Specialist
- Donor Relations Manager
- Payroll Specialist
Salary Ranges
Entry-level – $45-60K
Mid-Career – $55-85K
Education
The field of instructing individuals on the principles, concepts, and practices of accounting. It involves teaching, research, and consulting to impart knowledge and skills related to financial reporting, analysis, budgeting, auditing, and other accounting disciplines to students or professionals, preparing them for careers in accounting and finance.
Top Job Titles
- Accounting Professor
- Lecturer
- Assistant / Associate Professor of Accounting
- Department Chair / Dean of Accounting
- Accounting Education Specialist
- Accounting Program Coordinator
- Accounting Curriculum Developer
- Accounting Education Consultant
- School Business Management
- Financial Aid Officer
- Education Accountant
- Education Policy Analyst
Salary Ranges
Entry-level – $40-60K
Mid-Career – $70-120K
Top Employers
Isenberg
- Deloitte
- PWC
- KPMG
- RSM
- EY
- Grant Thornton
- BDO
- CliftonLarsonAllen
- Marcum
- Dell
- Bose
- Blum Shapiro
- Epsilon
- IBM
- General Electric
- JPMorgan Chase
- Liberty Mutual
- Mass Mutual
- United Technologies
- Wolf & Company
- Goldman Sachs
- Hologic
- MP CPAs
- Oracle
- PKF O’Connor
- Travelers
National
- Accenture
- Amazon
- Johnson & Johnson
- Target
- Walmart
- Wells Fargo
- UnitedHealth Group
- Coca-Cola Company
- Proctor & Gamble
- ExxonMobil
- Verizon
Clubs/Organizations & Professional Organizations
Isenberg & UMass Clubs
- Beta Alpha Psi
- Accounting Association
- National Association of Black Accountants
- Isenberg Undergraduate Consulting Group
- Advancement of Diversity in Business
- Association of Latino Professionals for America
- Isenberg Women in Business
Consider participating in Semester in the Profession Program or the VITA program.
Professional Orgs
- American Institute of CPAs
- Massachusetts Society of CPAs
- Institute of Management Accountants
- Association of Certified Fraud Examiners
- National Association of State Boards of Accountancy
- National Society of Accountants
- Institute of Internal Auditors
- Financial Accounting Standards Board
- National Association of Black Accountants
- American Accounting Association
- Accounting & Financial Women’s Alliance
- Society of Women Accountants
- Young CPA Network
- Association of Government Accountants
Publications
- Accounting Today
- Journal of Accountancy
- This Way to CPA
- AccountingWEB
- The CPA Journal
- Accounting Horizons
- International Journal of Accounting
Skills & Certifications
Hard Skills
- Analytical Thinking
- Data Management and Modeling
- Financial Reporting
- Project Management
- Account Balancing
- Business Management
- Systems Analysis
Soft Skills
- Written Communication
- Problem-solving
- Judgement and decision making
- Leadership
- Organization
- Critical thinking
- Adaptability
- Time management
- Collaboration
Technical Software & Tools
- Advanced MS Excel
- MS Word
- MS Access
- PowerPoint
- PowerBI
- Microsoft Dynamics
- Cloud Computing
- Tableau
- Oracle
- NetSuite
- QuickBooks
- Xero
- Sage 50 Accounting
- Freshbooks
- Adobe Acrobat
- Workday Financial Management
- Bloomberg Terminal
- FactSet
Certifications
- Certified Public Accountant (CPA)
- Certified Management Accountant (CMA)
- Certified Fraud Examiner (CFE)
- Certified Tax Preparer
- Certified Financial Forensics
- Certified Financial Analyst
- Certified Internal Auditor
- Certified Public Bookkeeper
- Enrolled Agent
Four-Year Success Habits for Isenberg Students
Year 1
Explore Vault Guides and Lightcast Research tool on IConnect’s Accounting Major page for an overview of jobs and careers by industry related to Accounting.
Read business publications including The Wall Street Journal (some publications are free through the UMass Library!). Employers will surely ask you about your industry knowledge – so, start learning now.
Follow companies of interest on LinkedIn and other social media outlets!
Explore specializations and different areas of Accounting with a Career Coach such as public versus corporate accounting.
Explore Professional Certification Options such as the Certified Public Accountant (CPA) or Certified Management Accountant (CMA) and understand their requirements. Meet with a Career Coach or Academic Advisor to develop your 150 plan, if pursuing CPA path, to meet the eligibility requirements for these certifications.
Discover and get involved in Isenberg and UMass clubs and organizations related to your major, affinity group, and interests. Join student government, residential life, or volunteer with community service opportunities.
Set your preferences in IConnect to receive tailored and relevant information including jobs, blogs, resources, emails, and event blasts based on your major, affinity group, and more!
Get to know the Business Librarian, Allison Messier in 1:1 appointments at Isenberg or via online chats. Learn how these resources can support your future internship and job search activities.
Begin to “professionalize” your experience profile! Gain skills and work experience through a micro-internship/externship (i.e. Paragon One or Parker Dewey), or simulated work experience (i.e. Forage or Bright Networks).
Get started on writing your Isenberg Resume, developing a LinkedIn Profile and building your Competency Inventory.
Familiarize yourself with relevant software tools and technologies used in Accounting. Take advantage of online tutorials, workshops, or certifications to build proficiency in these tools.
Stay Informed: Accounting practices and regulations are constantly changing. Follow accounting news, join professional accounting associations, and attend relevant workshops or seminars to stay up-to-date on trends and changes.
Learn from others. Ask an upperclassman to have coffee with you, get to know your Transitions peers and TAs, or chat with a Career Peer! Practice networking in a casual and relaxed atmosphere. This success habit continues as you move through your professional development process!
Leverage the search terms “freshman” “freshmen and “rising sophomore” in job boards (UMass Handshake, LinkedIn, Indeed.com) if seeking summer internships.
Check out events such as employer series, meet & greet opportunities like tabling in the Hub, and virtual information sessions posted on the calendar through IConnect! Event type varies between virtual and in-person.
Learn how your town’s Chamber of Commerce = Internships (Career Coaches can show you how!)
Get your recruiting feet wet by engaging with employers and recruiters tabling in the Learning Commons (in the Hub)!
Year 2
Check out how credits work for internships at Isenberg.
Learn the difference between externship, internship and co-op. Discover how a Co-op = Resume Booster! (Ask a Career Peer or Career Coach!).
Thinking of Going Abroad? PLAN NOW and meet with a Career Coach to understand how being abroad may impact internship recruiting timelines.
Pay attention to IConnect blasts in your Sunday-evening Isenberg email to stay on top of career-related activities and job postings
Identify SOPHOMORE and Affinity Group focused “Summit”, “Leadership” and other early professional development engagements hosted by numerous employers.
Seek and step into committees and/or leadership positions in your Isenberg and UMass clubs and organizations to allow you to gain skills in project/event/team management.
Apply for opportunities as a Career Peer in the Office of Career Success!
Apply to be a member of Beta Alpha Psi, an international honor society and professional business fraternity for accounting students.
Develop career readiness with the SCH-MGMT 200: Career and Professional Development course. Build your confidence about your resume, cover letter, LinkedIn profile, interviewing skills and ability to use numerous career-focused resources.
Update your Competency Inventory with new skills and accomplishments. Bring to Career Coach appointments to help further progress!
Investigate Early Talent and Diversity and Inclusion programs offered by employers and other organizations.
Interested in participating in a Diveristy Program? Check out Diversity and Inclusion programs and initiatives with major accounting firms such as PwC, EY, Grant Thornton, and more!
Build Technical Skills: Familiarize yourself with accounting software and tools commonly used in the industry, such as Excel and accounting software like QuickBooks or SAP
Befriend and master the Networking/Job Search Excel Template on IConnect and make it yours! This organization tool will be your BEST resource of gathered information about companies, professional contacts, industry keywords and MUCH MORE.
Sharpen focus on interests through attending industry focused sessions, speaker series via clubs and conference events at Isenberg and on-campus.
Build relationships with advisors, faculty, and staff. They can provide you with insights and understanding that could influence your choice of a major or pursuit of a career. They may also become a key part of your professional network.
Network with UMass Alumni in various OIM careers through LinkedIn or Connect UMass. Consider setting up an informational interview with them to ask questions and gain valuable advice!
Look for on campus internships or jobs on the Student Job Board and UMass Handshake. Connect with students and employers on Handshake to find out more about specific opportunities.
Realize the efficiency of using Handshake filters! You can refine your job/internship search and find opportunities that align with your preferences and qualifications. Remember to adjust the filters as needed to tailor your search to your specific needs and career goals.
Use “Sophomore” as keyword in job board searches (Handshake, LinkedIn, Indeed).
Many firms will recruit sophomores for internships in advance starting in the Spring semester. Engage with on-campus recruiters: participate in career fairs, information sessions, 20 minutes with sessions, and firm-sponsored events to learn more about opportunities and the recruitment process.
Year 3
Explore internships and co-op options early to prepare for early fall deadlines. Find postings on Handshake, LinkedIn, industry specific job boards, and direct company sites.
Make time in your weekly schedule for Career and Professional Development Activity! Another success habit to grow!
Stay Informed about Accounting Industry Trends: Stay updated on latest innovations and technologies shaping the field. Subscribe to industry newsletters, follow relevant blogs or social media accounts, and engage in discussions with peers and faculty members.
Study Abroad or Experience a Domestic Exchange. Remember, you can still meet with a Career Coach virtually for any career questions and concerns!
Stay positive. Maintain a positive attitude and be flexible and realistic. The internship/co-op search can take time – Have at least one focus area, but pursue alternatives.
Consider completing a Winter internship through Isenberg’s Semester in the Profession Program, while receiving academic credit.
Identify and participate in Case and Pitch Competitions, and on campus conference events to expand your resume and skills!
Develop your professionalism – enhance communication and time management skills, practice business etiquette, seek mentorship, join a professional organization, maintain a professional online presence, and more!
Utilize your Competency Inventory and experiences to draft “STAR” examples for interview questions. Practice interviewing on Big Interview and make time to mock interview with Chase Career Coaches.
Update and refine resume and LinkedIn to amp up keywords with specific coursework and projects
Attend Isenberg Career Days (September) and Career Blast (February) in addition to other OCS events for career development in your specific area of interest.
Identify and request information from alumni in target fields/companies on LinkedIn and Connect UMass. Prioritize time for building connections, networking, and maintaining relationships. Continue to collect all information in your Networking/Job Search tracking document.
Expand your network with Isenberg seniors and recent graduates to learn about possible internships/co-ops and contacts.
Pay attention to IConnect blasts in your Isenberg email to stay on top of career-related activities, events, and job postings.
Expecting an internship or early full-time offer? Learn how to manage multiple offers and offer response deadlines. A Career Coach can show you how to manage these situations.
Participate in Fall On-campus recruiting for winter and summer internships! Review the Accounting Recruiting Agreement for policies and expectations
Year 4
Don’t panic if you’re still not sure what you want to do! Meet with a Career Coach for guidance!
Stay open to new possible career or employer options, continue to learn about career paths in different areas of your industries.
Planning to go to Grad School to meet the CPA 150 credit requirement? Discuss this with a Career Coach or discuss alternatives for meeting the requirement.
Seek a research project with professors to add interesting content to resume.
Celebrate and highlight leadership accomplishments in interviews and while networking such as club leadership, significant work or academic role!
Schedule time for job search activity – Heavy emphasis for accounting majors in FALL semester
Tailor resume with industry specific keywords and make sure it speaks to the job you are applying for by analyzing the job description; add major coursework and projects for depth.
Highlight Commonwealth College Thesis on resume, if relevant.
Practice and advance interview confidence! A career coach can be an invaluable asset in this activity!
Prepare for professional exams, such as the CPA. Research the requirements for your desired accounting certifications and create your study plan. Utilize review courses and study materials to help you prepare!
Engage with corporate representatives at Business Innovation Hub events.
Expand network in specific areas of interest. Update Networking and Job Search Tracking Sheet.
Complete the Isenberg Senior Survey in the Spring semester and contribute your placement information to Isenberg’s data!
Update LinkedIn profile with accomplishments and employment news. Commit to maintaining an updated profile beyond graduation.
Regularly assess Sunday emails full of opportunities from the Office of Career Success!
Gain insight into job offer evaluation and the protocol around accepting and declining opportunities.
Add new employers to your Networking and Job Search Tracking document. Leverage your research to find the best opportunity!
Go beyond on campus postings and employers to discover additional opportunities.
