Something every organization has in common is the need for accountants. Whether they work in a large corporate accounting department conducting internal audits or for a small business trying to improve cash flow, they are critical to success.
Their unique skills make accountants strong candidates for jobs beyond traditional accounting and auditing positions. Those who earn a Bachelor of Science in Accounting can work in various alternative careers for accountants with private businesses, nonprofit organizations, and government agencies.
Honing transferable analytical, technical, and organizational skills useful in non-traditional careers ranks as one of the top advantages of earning an accounting degree.
Alternative Careers For Accountants
As noted by Indeed, “With an accounting degree, you can work in any career that requires attention to detail, mathematics, problem-solving and critical thinking.” That opens the door to many options in almost every industry.
The following focuses on five popular alternative careers for accountants that you can do with the skills learned in an online degree program.
Business analysts focus on developing tactics and strategies that make organizations more efficient. They offer advice and build systems that help organizations reach strategic objectives.
Through data analysis and other research, business analysts identify customer needs and develop ideas on how organizations can meet them. Their work focuses on making organizations adaptable and agile in a modern business environment.
Choosing the financial advisor career path allows accountants many options for using their unique blend of skills. For example, larger companies have financial departments that include financial advisors. Big accounting agencies and consulting firms hire financial advisors to provide service to their clients. And those with entrepreneurial ambitions can open their own company and build a client case of individuals and companies.
Financial advisors focus on providing sound advice on investments and other money-related issues. Depending on where they work, this can range from large corporate investments to advising individual clients on personal finance issues. Services can include investment advice, estate planning, and funding college tuition for children.
Many may know investment bankers in their role in initial public offerings (IPO) for companies going public. However, that’s just one among many areas where investment bankers work. Others include mergers and acquisitions or the sale of a company. The detail-oriented, mathematical, and financial skills of accounting lend themselves well to careers in investment banking.
No matter what position they hold, an investment banker focuses on raising money for clients. According to Investopedia, successful investment bankers often move on to venture capital, private equity, and wealth management careers.
Tax consultants focus on helping companies and individuals comply with government regulations on taxes while also finding ways to reduce taxes. They keep abreast of changes in local, state, and federal tax laws and understand how they will impact clients. Tax consultants operate similarly to financial advisors, with the difference being they focus entirely on tax-related issues.
Tax consultants work for large companies or in tax consulting firms. They may also run an independent operation working with individuals and businesses on their taxes.
The Federal Bureau of Investigations and other government agencies, including the Securities Exchange Commission and Internal Revenue Service, hire accountants to help investigate companies and individuals. These forensic accountants use a combination of accounting and investigative skills to search financial records for malfeasance and fraud.
Earning a degree in accounting prepares graduates for more than traditional accounting and auditor jobs. They can find alternative careers for accountants that fit their ambitions, interests, and career goals with their unique skill sets.