The job of an Accountant is always high in demand. Almost every organization needs an Accountant to keep the records of the monetary accounts. But being an Accountant your job is not merely working with numbers, but much more than that. The job holds a certain amount of respect in the name itself.
Being able to guide others properly in their financial matters gives a lot of satisfaction. But this job to has got some drawbacks as any other job. So, if you are looking forward to taking up the job of an Accountant then you should be well informed about the different benefits and drawbacks that this career has got.
The advantages in the job of an Accountant:
Have a consistent earning
Every organization needs an Accountant. Even small businesses hire Accountants to manage their accounts. So, you can surely land a job for yourself with a good earning. You can work full-time for any organization or you can work as a freelancer according to your own terms and conditions.
There will always be vacancy for the position of an Accountant, and therefore you can expect a consistent income throughout the year. If you work full-time for any organization, then you will also receive all the other facilities that the rest of the employees get. Therefore there is always a scope of extra benefit.
There are good scopes of earning a high salary
As the job is very much in demand so you always have the scope of earning a good figure of salary. Most of the Accountants who are associated with reputed firms and are proficient in their job, draw at least a six digit salary. Even a mediocre in this field earn a good salary at the end of every month.
Like any other field, here also your job will speak. It is your calibre that will decide your salary. So with a good amount of dedication towards your job you can create a good scope of earning well for yourself.
There is a clear vision of the career
If you choose to study Accountancy, then you know what and where your studies can take you to. You can get a clear vision of your career. You learn all the skills of accounting and know to deal with the number. Therefore your job as an Accountant is certain.
This is not the case with the students who graduate with other subjects like physics, chemistry, English, etc. They will have to specialize in any particular field to land a job. But this is not the case with an Accountancy Honors graduate. You can land a job immediately after completing your graduation if you are efficient enough. You will not get confused while choosing the right career path for yourself.
The job is very high in demand
Every organization needs an Accountant. Bigger organizations have vacancies for more number of Accountants. They have a separate department dedicated to Accountants. Small business houses also hire Accountants to manage their profits and losses. Even big shops nowadays are maintaining a position for an Accountant. So you can imagine how much in demand this job is.
There will always be growing in the percentage of vacancies. You can expect to make a living for yourself straight going out of your college. You just need to stay focused on your studies and learn the basics thoroughly. Your good grades can surely fetch you a decent job.
There is a lot of scope in climbing the professional ladder
Anyone strives to grow professionally. There is probably no one who wants to stay in the same position throughout their job career. Like any other profession, the job of an Accountant also has a scope of reaching heights. You may start your career immediately after completing your graduation.
You will be given the post of an Accountant trainee at the beginning and then the post of a Junior Accountant. Then your career can take off high if you can manage to show your skills. If you can get the position of an Auditor, then your growth is very certain. An Accounts Auditor is someone who practically rules the accounts of any company.
Along with gain job experience if you can continue your higher education, then you can reach the topmost rung of the ladder quite fast. If you can become a Certified Professional Accountant, then good jobs with great salaries will be knocking at your door.
You can travel places
If you are a travel lover, then Accountancy will give you the chance to work and travel simultaneously. An Accounts Auditor gets the chance of traveling to different locations. You will have to audit different organizations at different locations. This is consistent throughout your career.
If you want to work in your own office, then you can choose to do so. If you want to go outside your office and audit different other organizations then you have that option too. It is your own choice. But one thing is constant, that is you’re travelling to various locations and meeting new people. You can also choose your location of the job according to your preference as every place in the world has got vacancies for Accountants.
There is no recession in this job
Every employee always has a fear of losing his job due to the recession. It is probably the worst nightmare for any employee. But you will not worry about this if you are an Accountant. This job will never be struck by the recession. There will be a vacancy for you in at least a single concern. As a matter of fact, this profession will only see growth and no downfall.
Any organization cannot do without an Accountant. This is what makes this a very high in demand job. A good Accountant always has his importance, and that can be felt within the organization. The management never wants to let go of an efficient accountant. In fact, he is the one who will save the company from huge losses by managing the accounts effectively.
The disadvantages in the job of an Accountant:
There is a rigorous unending process of learning
This job is very demanding and challenging. You will have to keep yourself updated. You need to keep on learning all the new changes in the market trends. There is a constant upgradation in the various rules and regulations of the market. The government brings in some new changes in various laws now and then. As an Accountant, you are expected to be familiar with all of these changes.
If you are not up to date then your company may have to face the consequences. The process of managing accounts effectively is constantly seeing an improvement. So you have to learn those processes thoroughly. This can be a very draining task as your learning process is never-ending. You cannot bid adieu to your studies after graduation. In fact, your real learning process will just start after entering a job.
You should get the best certificates to earn the maximum
There are many certificate courses that an Accountant can choose to do. These are not mere courses to gather certificates but are the key to your success. They can get you good jobs if you are not satisfied with your previous one. They can also attract great salaries if you are planning to ask your boss for a hike.
But do not expect that you can encash a single certificate throughout your life. You have to get a new one with every new change in the market trend. These certificates showcase that you are trained in a particular subject and therefore your employer will decide your worth accordingly.
This process can get into your nerves after a certain point of time. Nobody wants to attend classes for learning a new course throughout their life. This can be fun at your younger ages but can be very challenging to cope up with your increasing grey hair. Some of the courses are very nerve-wracking. So it is difficult to get them completed successfully with growing age.
The job can be monotonous at times
Working with numbers for a long time demands a lot of attention. It drains a lot of energy if you are working throughout the day. You may feel tired sitting in the same position for the whole day and staring at numbers. Working with spreadsheets for longer sessions can be really boring. Therefore the job may not be as interesting later as it seemed earlier.
Doing large calculations, working with complex digits and cracking complicated formulas for all your life can make you feel dull after a certain point of time. If you can manage to get the job of solving various economic problems then you still can feel better. But the job of an Accounts Manager is surely monotonous. You have no scope of showcasing your creativity in this field if you are a creative person. Better to say this job is not meant for you.
There are heavy workloads for a certain period of time every year
As an Accountant, you can expect to have steady working hours on a daily basis. But there is a season that comes every year that will just drain you. This is the year ending period or the taxation period. This extends for a good three to four months of the year. In those months you cannot expect to have a personal life of your own. You will have no fixed working hours.
You will have to stay for long hours in the office. You will also be spared of weekend leaves. Your office becomes your first home and your real home takes a backseat. Your family tends to forget your face for a few months as they can hardly get to see you at home. This can be a big issue if you have a small kid at home or an ailing family member. You will be unable to take care of any responsibilities at home.
The higher positions in this job are very demanding
If you have just joined as an Accountant, then you enjoy the perks of the job. But with time if you are getting promoted to higher positions, then you should be ready to face the challenges and the extreme level of stress there.
It is a known fact that with success comes responsibility. But the responsibilities of an Accountant at a higher position in any organization are huge. If you are made the in-charge of the financial department of an organization then you have to take up a lot of responsibilities. Your job is a risky one as the total finance of the organization has to be managed efficiently by you. You will be highly paid but you will have to pour out yourself completely for the job.
The extreme level of workload can take a serious toll on your health. It can affect you both mentally and physically. If you are able to handle them tactfully then you can continue with your job. But if your nerves are weak and cannot survive the pressure then you will fail miserably. You will have to let go of the small tensions at the workplace and handle the bigger problems tactfully.
After going through all the advantages and disadvantages of the job, now you can decide whether you can pull off the job of an Accountant or not. You can get to see good days and bad days in this job as any other profession. So you must decide wisely. You should be able to do justice to your post if you are taking up the responsibility.
The author Evelyn W. Minnick is a very good online tutor who is known for solving various queries of her students efficiently. She is very knowledgeable and helpful. She has a degree in MBA and has been working for the past 6 years with the Duke University. You can seek her assistance if you have any study-related problem. She is always available to render help.