The Fulfilling Journey of a Bookkeeper: Insights and Opportunities

After spending 45 years supervising bookkeepers and accounting clerks, I find the role reversal more refreshing than monotonous. The routine becomes almost zen-like once you know what to expect, a walk in the park, until the unexpected emails arrive, such as missed invoice payments looming 90 days in arrears. Training and staying sharp are paramount.

The High Demand for Accountants

Accountants are in high demand not only in the finance sector but across various industries including government sectors. Moreover, this is a career for those who seek challenges and excel in analytical thinking. A career in finance and accounting offers great opportunities for growth, especially if you possess the right qualifications and skills. Over 55 percent of accountants have had different career experiences before landing in their current roles.

Job Market and Growth Prospects

According to the Bureau of Labor Statistics (BLS), there will be more than 1.4 lakh job openings in accounting and finance fields by 2026. This sector is among the fastest-growing in the world, with a projected growth rate of approximately 10 percent from 2016-2026. The unemployment rate in the accounting field is only 2.45 percent, which is very negligible when compared to other fields. As the world economy influences employment in this sector, it's expected that the percentage of job openings might decrease in the coming years.

Work-Life Balance and Job Satisfaction

The average working hours of an accountant in 2016 were 40 hours per week, with overtime hours typically accruing only during tax sessions and the end of the budget year. The percentage of job satisfaction in the accounting field is more than 88 percent, indicating that it is one of the coolest professions in terms of employee satisfaction. The average salary for an accountant is $69,350 per year.

A number of top accounting firms contribute to this thriving field, including Deloitte, Grant Thornton, Crowe Horwath International, Nexia, and BDO Binder Dijker Otte. These firms not only drive the demand for accountants but also provide opportunities for professional growth and development.

Landing a role in bookkeeping or accounting can be incredibly rewarding, offering a blend of routine and unexpected challenges. With high demand, excellent job security, and growth potential, these careers represent a fulfilling journey for those passionate about numbers and finance. Whether you are making a career change or are a seasoned professional, the field of accounting and finance is undoubtedly worth exploring.