{"id":1000897374,"date":"2024-10-10T13:04:41","date_gmt":"2024-10-10T17:04:41","guid":{"rendered":"https:\/\/www.goingconcern.com\/?p=1000897374"},"modified":"2024-10-10T13:06:45","modified_gmt":"2024-10-10T17:06:45","slug":"bold-move-listing-lucrative-compensation-as-one-of-five-reasons-to-pursue-accounting-montclair-state","status":"publish","type":"post","link":"https:\/\/www.goingconcern.com\/bold-move-listing-lucrative-compensation-as-one-of-five-reasons-to-pursue-accounting-montclair-state\/","title":{"rendered":"Bold Move Listing ‘Lucrative Compensation’ As One of Five Reasons to Pursue Accounting, Montclair State"},"content":{"rendered":"\n

In a post published on October 7th by Montclair State University titled “Top 5 Reasons to Transition to an Accounting Career<\/a>” that can be best described as a thinly veiled advertisement for their Master’s program, the university explains “why making the leap into accounting might be the best move you ever make.” This should be good.<\/p>\n\n\n\n

High Demand and Job Security<\/h2>\n\n\n\n
\n

In today\u2019s competitive job market, few professions offer the level of stability and demand as accounting. Every business, regardless of size or industry, requires skilled professionals to manage finances, prepare taxes, and provide strategic guidance. And with an annual projected demand of over 125,000 new Accounting positions over the next decade, the time has never been better to make a change.<\/p>\n<\/blockquote>\n\n\n\n

OK, we’re with you. Granted firms have been laying off people left and right lately — and that’s not even getting into the more insidious silent layoffs — but generally speaking this is true. It could definitely be worse.<\/p>\n\n\n

\n
\"\"
According to layoffs.fyi<\/a>, 139,534 people have been laid off from tech companies so far in 2024. <\/figcaption><\/figure><\/div>\n\n\n

Related 2022 post that aged like milk: At Least We Aren\u2019t in Tech, Boast Smug Accountants Who Didn\u2019t Get Laid Off Today<\/a><\/p>\n\n\n\n

Also the job market sucks right now for a lot of people unless you’re someone with an accounting background living in Manila but you know what, let’s move on.<\/p>\n\n\n\n

Global Opportunities<\/h2>\n\n\n\n

Here’s what they have to say about the global opportunities afforded to the chosen few who take the blessed path of accounting:<\/p>\n\n\n\n

\n

Accounting is a truly global profession, with opportunities to work and collaborate across borders. As businesses expand their operations internationally, the demand for accountants with a global mindset and cross-cultural competence continues to rise. Whether you\u2019re interested in working for a multinational corporation, a global accounting firm, or an international NGO, an accounting career can open doors to exciting opportunities around the world.<\/p>\n<\/blockquote>\n\n\n\n

The biggest global opportunity afforded to accountants in 2024 is interacting with the ever-growing offshore team<\/a>.<\/p>\n\n\n\n

Diverse Career Paths<\/h2>\n\n\n\n

One of the most appealing aspects of an accounting career is its versatility, they said.<\/p>\n\n\n\n

\n

Accountants can choose from a wide array of career paths, ranging from public accounting firms to corporate finance departments, government agencies, non-profit organizations, and beyond. Moreover, within each sector, there are opportunities for specialization in areas such as tax planning, forensic accounting, auditing, financial analysis, and managerial accounting. This diversity allows individuals to tailor their career trajectories to align with their interests, skills, and long-term goals.<\/p>\n<\/blockquote>\n\n\n\n

Alright, we’ll give them this one. Get through the public accounting gauntlet for two years and you can go do something better.<\/p>\n\n\n\n

Intellectual Challenge and Continuous Learning<\/h2>\n\n\n\n

Do you ever wonder if they get paid off by the AICPA to say stuff like this?<\/p>\n\n\n\n

\n

Accounting is far from a monotonous profession.<\/strong> It requires analytical thinking, problem-solving skills, and a knack for attention to detail. As regulations and technologies evolve, accountants must stay abreast of changes and innovations to remain effective in their roles. This constant learning and intellectual challenge ensure that no two days are alike in the world of accounting, making it an ideal field for individuals who thrive in dynamic environments and enjoy tackling complex problems.<\/p>\n<\/blockquote>\n\n\n\n

It’s also a great career for people who enjoy doing the same thing year after year after year after year after year.<\/p>\n\n\n

\n
\"\"
Sauce<\/a><\/figcaption><\/figure><\/div>\n\n\n

Alright, here’s what we’re here for…lucrative compensation!<\/p>\n\n\n\n

Lucrative Compensation<\/h2>\n\n\n\n
\n

Beyond job security, accounting offers attractive financial rewards. The combination of high demand and specialized skills often translates into competitive salaries and benefits packages. The average annual salary for those with a Master\u2019s degree in accounting is $80,000, whereas Accountants without a Master\u2019s degree only average about $57,000 per year.<\/p>\n<\/blockquote>\n\n\n\n

Hmm. Lucrative…<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n
\"\"<\/figure>\n\n\n\n

$80,000 isn’t a bad deal for someone from 2010 living in a LCOL city clocking a straight 9-5 five days a week. Lemme bust out a handy dandy chart here:<\/p>\n\n\n

\n
\"\"
Source: “Why No One\u2019s Going Into Accounting<\/a>,” Wall Street Journal<\/em> October 6, 2023<\/figcaption><\/figure><\/div>\n\n\n

Oh.<\/p>\n\n\n\n

Here’s another analysis that @kleib323 did<\/a> on how much accounting salaries have increased since 2019 for partners and professional staff<\/a>. Y’all are accountants so we don’t need to explain what the minus sign means in the % change column.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

They would have been better off using lifetime<\/em> earning potential in their argument, the math maths a lot better.<\/p>\n","protected":false},"excerpt":{"rendered":"

In a post published on October 7th by Montclair State University titled “Top 5 Reasons […]<\/p>\n","protected":false},"author":11,"featured_media":1000897408,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,13433,36,5796],"tags":[257,11463,9044],"class_list":["post-1000897374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-career-center","category-education","category-salaries","category-serious-questions","tag-compensation","tag-fuck-you-pay-me","tag-obvious-lies"],"yoast_head":"\nBold Move Listing 'Lucrative Compensation' As One of Five Reasons to Pursue Accounting, Montclair State - Going Concern<\/title>\n<meta name=\"description\" content=\""The combination of high demand and specialized skills often translates into competitive salaries and benefits packages," they said unironically\" \/>\n<meta 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