ACCOUNTING AS A CAREER CHOICE

The Best Places to Launch a Career


Why? Enormous demand. Tremendous opportunities. Exciting appeal. Excellent pay. More flexible work culture. Bringing value.

In a capitalistic society there is no more valuable college academic major than accounting…that is if you have the aptitude and attitude suited to pursue it. It is not a major for those who just want to ‘get by’ in college. It does require a commitment to hard work and focus. But for those who pursue this major, and succeed in meeting its challenges, the career rewards are significant. It allows you to be considered in the group of the ‘Premier Professions’ à medicine, engineering, law, scientific research, computer technology, and higher education. It also provides substantial earning potential with salaries ever on the increase.

No matter if your long-term goals are to be a Partner in a Public Accounting Firm, Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Operations Officer (COO), Treasurer, Tax Director, Financial Planner, Wealth Manager, HR Leader, Attorney, FBI Agent, Consultant, Entrepreneur, Professor…or a host of other career possibilities…accounting is the foundation of everything that goes on in a free-enterprise system. If the CEO does not have an academic background in accounting, it is a good bet the person closest to him / her in the organization does have. Those who lead organizations always need to know where the money comes from…and where the money is going. When a leader loses sight of this, their future, or their organization’s future is short lived. (Reference ENRON; TYCO; WORLD COM.)

One of the real beauties of entering the field of public accounting is that it grants you an opportunity to do ‘extended career exploration’ while you gain valuable experience and, at the same time, get paid! When you enter the field of public accounting not many people will expect you to stay in that career field for your entire career. (It is in your personal / professional best interests to remain for 5 to 6 years or until you have been a ‘manager’ for one full year. Only then will you truly have experienced public accounting. Leaving the profession after only 2 to 3 years is not fair to you, or to the respective firm. The world is full of ‘two-year’ public accountants. Being a ‘manager’ in a public accounting environment is a different story, however. Managers can command some pretty significant roles in the corporate sector). During this 5- to 6-year timeframe you will be exposed to the best in technical and leadership training, invaluable on-the-job coaching, a variety of industries and clients, a diverse field of personalities and leadership styles, some of the brightest professionals in the field of business, and an ‘up-close and personal’ perspective of the inner-workings of capitalism. This profession provides you with ample time and opportunities to find the perfect long-term career for you. That career might turn out to be ‘public accounting’…or one of a multitude of attractive ‘off-shoots.’

From a hiring perspective the recruiting professionals from all the public accounting firms in this country scour the earth each year searching for the best and the brightest accounting grads. The real story is that there are not enough of these professionals to go around.

Several reasons for this:

Lack of career information related to the profession. For the most part high school and college students know little about the profession of accounting. Unless they are fortunate enough to know someone who is in the field, students are totally unaware of the challenges and rewards associated with accounting. College students who I have recruited over the years many times are introduced to accounting by having taken a ‘bookkeeping’ class in high school. Bookkeeping is not accounting. It is only a peek into the profession. Something more substantive needs to be offered to those high school students curious about the accounting profession.

Public accounting firms, by their nature, do not spend much time promoting themselves. There was a time many years ago when they shied away from any type of advertising…and were very careful about taking other firms’ clients. Recruiting was even a war fought with ‘gloves on,’ for the most part. To self-promote seemed distasteful, and many accounting professors worked hard to discourage any of the firms from trying to get a ‘leg up’ on another firm when it came to recruiting their students. Those days have vanished. The accounting profession now uses a number of forums to advertise their wares. However, their attempts to reach deeply into the talent stream are not necessarily bringing the results desired.

The rumor is the ‘Public Accounting’ image may be tarnished. Although the image of the accounting profession took a direct hit immediately following the ENRON debacle and the government-directed shutdown of public accounting giant Arthur Andersen, the longer-term impact has been a significant enhancement of how individuals perceive the profession, and those who inhabit it. The impact of those unfortunate events of the early 2000s have made very clear the critically important role accountants play in protecting the financial well-being of American citizens, whether they be investors or everyday employees counting on a fair retirement return for their years of dedicated work.

Accountants are too often painted as ‘techies.’ Although accountants are by definition technicians, their ‘modus operandi,’ or, mode of operation, extends far beyond the technician role. No longer can accountants only be ‘number crunchers’ or ‘bean counters.’ The day of the pure accounting technician is over. Now accountants must offer not only technical expertise, but they must bring forward superior client service satisfaction; they must be seen as true business advisors; they must embody servant leadership qualities; and, they must excel in the areas of relationship building and marketplace eminence. I have been an HR leader in the public accounting arena for 25+ years. I have recruited, trained, and coached thousands of accounting professionals over this period of time. They are the ‘best of the best.’ Bright, self-motivated, respectful, and ambitious to succeed.

Most high schools do not have an academic ‘introduction’ program, or ‘prep’ program, for students who might, if only they were exposed to it, have a genuine interest in the accounting profession. For this reason many students feel as long as they are good in math they will be good in, or like, accounting. This does not always hold true. There is much more to accounting than ‘numbers.’ A total business understanding is crucial to success in the field. The ability to ‘reason,’ to bring various parts together in forming a whole, to see the black and white and gray areas of a situation, to gain perspective through research and consulting, to work well with people, to lead, to market…these all are important components to the well-educated professional accountant. A curriculum in high school that emphasizes math, logic, philosophy, ethics, human behavior, sociology, psychology, history, economics, and marketing…and structured to center on effective accounting principles…would be a better precursor to majoring in accounting in college than, let’s say, bookkeeping. Accounting is not bookkeeping. Bookkeeping is a minor element of accounting. Many high-performing students will not take bookkeeping because it is seen as a ‘general’ class, as opposed to an ‘academic’ or ‘college preparatory’ class. Therefore, in many instances, those high school students who would make excellent professional accountants will never get an opportunity to ‘test’ accounting before they get to college. (It is fair to say that an increasing number of high schools are beginning to offer ‘accounting’ courses.)

In contrast, most bright or academically successful high school students are indirectly or directly exposed to the higher professions of medicine, engineering, computer technology, and the research sciences through mainstream curriculums designed with these ends in mind. As well, parents, teachers, academic advisors, and college and career counselors have these professions firmly in mind as they advise students.

The ever-decreasing population. Demographics play a major role here. Simply stated, as the ‘Baby-Boomer’ generation moves into retirement mode, there are fewer people alive to take their places. Critical career fields such as accounting are the first to feel this pinch.


There has never been a better time for someone to pursue a career in accounting. By all measures majoring in accounting is one of the very best ways you can assure yourself of a challenging, personally satisfying, prestigious, secure, and financially-rewarding career. Of special note are the modifications the profession has made to make what was once considered a ‘sweatshop’ and ‘up-or-out’ working mentality into one of balance and support. Some of these modifications:

o Flexible Work Schedules: Allowing people to work schedules in line with their work and their personal demands.
o Mentoring: More senior professionals proactively coaching more junior professionals toward success.
o Women Leadership: Women are increasingly moving into key leadership roles.
o Leadership Training and Coaching: Professionals are receiving intense training and coaching in the areas critical to leadership effectiveness à ‘Strategic Partner’ value proposition.
o Diversity Initiatives: A more diverse population is moving into the professional ranks of accounting firms.
o More Flexible Partner Career Tracks: Those aspiring toward partner are given more latitude related to a ‘flexible’ work schedule.
o Having Input Into Decisions That Directly Impact You: Professionals have more of a say related to selection of function (audit / tax / consulting), travel, industry specialization, hours worked, and relocation.

It has become, to a certain degree, a ‘sellers’ market. This is not to say there will not be demands placed on those who enter this profession; there will be for certain. But the atmosphere is much more democratic than in generations before.

The biggest ‘secret’ in the business world today is the dynamic and exciting world of accounting. Before you dismiss accounting as a career ‘not for you,’ please take some time to read through this book. I have designed it specifically to dispel the ‘myths’ around the profession, and to open up the terrific opportunities that rest within.

Some ‘highlights’:

· Professional Profile: Seen as ‘Protectors of the Public Trust and of Shareholders’ Primary Interests.’
· 10%-20% growth rate in job opportunities.
· 50,000 accounting graduates each year.
· Annual salary range for those in the field, generally speaking à $45,000 to $1,000,000.
· 110,000 professionals sit for the CPA Exam annually.
· Leads to numerous and various career opportunities:
o In Chapter 2 you can read about a number of professionals who majored in accounting…and where they are currently in their careers.
· Variety of personalities attracted to the field:
o Phil Knight…CEO and founder of NIKE
o Arthur Blank…CEO and founder of Home Depot
o John Grisham…author (The Firm; Shoot to Kill; The Pelican Brief)
o Tiger Woods…#1 golfer in the world
o Jack Greenberg…former CEO of McDonald’s
o Bob Newhart…comedian
o Nearly 1,400 of the FBI’s special agents are accountants (#3 man at the FBI, Assistant FBI Director Thomas Pickard, is a CPA)