From renewable energy startups to movie studios, accountants are in high demand for a staggering variety of careers
In the accounting field, one thing is becoming clear: There is no “typical” accounting job. Alumnus Ryan Hess (Ph.D. ’21) worked with the Internal Revenue Service to improve tax compliance via automation. Alumna Megan Light (BBA, MPA ’06) works in investor relations in the natural resources field.
For both graduates, their day-to-day is far from the image some people have of accountants: worker bees who enter and move numbers around a spreadsheet. Over the years — and in recent years, especially, as data has ballooned along with new technologies and ever-changing regulations — accounting has evolved into an even more vibrant field that spans industries and requires a broad and well-balanced skill set. Accountants dabble in math, yes — but today they must also have advanced communications skills and an affinity for new technologies.
An accountant might find work uncovering financial fraud, helping a shipping company operate more efficiently to improve its bottom line, or managing production budgets and royalty distributions for a movie studio.
Accountants’ bread and butter is assessing and reporting on a company’s financial position so the business can make forecasts about the future and manage risk. They prepare budgets and forecasts, analyze expenditure and revenue, and identify where a company can invest, save money or afford to spend more. Accountants also present financial information — and often provide financial advice — to managers or to clients.
Accounting is a perfect field for people who enjoy working with numbers and technology, analyzing data, thinking critically to solve problems, and communicating outcomes.
A WIDE VARIETY OF JOB OPPORTUNITIES
Accountants are a vital part of every organization and every industry — from large corporations to small startups and nonprofits, from high-tech energy companies to sports teams and entertainment production studios. Accounting skills are also essential for people who ultimately choose to work in investment banking or financial consulting.
Meanwhile, some accountants carve out creative side-gigs for themselves too. For example, UT accounting Ph.D. program graduates and professors Lisa De Simone (Ph.D. ’13) and Bridget Stomberg (Ph.D. ’13) with Indiana University’s Kelley School of Business started a podcast called “Taxes for the Masses” to break down tax concepts into simple terms.
STABILITY AND GROWTH
While other professions have seen a slump, accountants continue to be in high demand despite economic fluctuations. And, according to the Bureau of Labor Statistics, globalization, a growing economy, and a complex tax and regulatory environment are expected to continue driving a strong demand. The field provides job security, and it equips people with skills that translate across industries and geographic regions.
TRANSFERABLE SKILLS
Successful accountants require a variety of skills and knowledge, such as:
- Ability to analyze data.
- Ability to think critically and problem-solve.
- Budgeting, forecasting, financial statement preparation.
- Communication skills.
- Proficiency in technical software.
- Leadership aptitude.
These are skills students learn as they earn a degree in accounting and continue to refine throughout their careers.
TEXAS MCCOMBS MASTER IN PROFESSIONAL ACCOUNTING PROGRAM
Did you know that the one-year Master in Professional Accounting degree program at Texas McCombs is open to students with a bachelor’s degree in any discipline? Join us for an upcoming virtual info session to learn more!
