subject: Accounting/finance/banking Careers [print this page] Introduction Introduction
The Language of business or accounting is by far one of the most promising and most lucrative of job types in the current market. This is owing to the fact that the basic requirement of the mushrooming businesses is somebody to take care of its financial side. Accountants serve as the vehicle for information between various entities like management, shareholders, creditors, government agencies, financial analysts, economists and vendors. The allocation of assets by investors that affects time value of money is taken care of by persons dealing with finances. They project into the future, speculate on risks and profits, and advise management on investments to be made. Banks are actively involved in restructuring the financial sector. They are the heart and soul of commerce, trade, and industry, linking people who need money with those who have surplus of it.
Educational Requirements
At least a Bachelors degree in finance, business or associated field is a must before trying to step into any of the openings in financial and banking sectors. Each state in the U.S. has a statutory body that licenses Certified Public Accountants (CPA) who can practice there. A 150-credit college degree program is essential for appearing in CPA exam. Opportunities for high-end jobs in finance improve with a Masters degree which coaches students rigorously in either marketing, finance or project management. The CFA (Certified Financial Analyst) Institute is another governing body which certifies students to work in the field. The successful completion of any relevant programs or experience will enhance prospects of people looking for higher pay, responsibility and authority.
Income Potential
People employed in any zone concerned with finances have the brightest potential for income. The job range in finances is very wide and hence, the pay potential varies greatly. Income depends upon education and experience. The annual average salary for accountants and auditors was around $61,690 in 2010 according to Bureau of Labor Statistic. The trend in the current economic scenario depicts that the number of all finance related jobs will continue to swell and the income is likely to grow exponentially. The pay scale of entry level jobs in accounts, finances, and banks is between $10,000 to 30,000 per annum, with a broad berth for further development. It is essential to build a strong track record in order to climb the ladder of remuneration in finances, accounts, or banks.
Career Outlook
The horizon for any person employed in accounts, finances or banks is expected to grow larger than average of all others in the coming years. This could be attributed to increase in number of businesses, changes in global laws, growth in international trade, retirement or transfers of current employees, and increasing scrutiny of company finances. As the volume of information expands, so does the need for the number of personnel to handle taxation, book keeping, auditing, expenditure, mergers and acquisitions, investments and controlling all the fiscal processes. Today there is an urgent need for qualified and talented people who have the expertise to take care of monetary transactions at a global level. Financial scandals, frauds, embezzlement, and bribery need capable hands to curb the ills. Aspirants have a favorable future in the world of economics and should strive to work their way into it.
by: ronald f perez
welcome to Insurances.net (https://www.insurances.net)
