Favorable Outlook for 2017 Accounting Graduates
This year’s accounting graduates face a favorable job market. The U.S. Department of Labor reports 11 percent growth from 2014 to 2024 for auditors and accountants, a growth rate that is faster than the average growth rate for all other occupations. The Bureau of Labor Statistics projects that during this time period 142,400 accounting jobs will be created.
Many factors contribute to the growth of available accounting jobs including a growing economy and increasingly complex financial regulations. Stricter laws and regulations, particularly in the financial sector, and tighter lending standards contribute to demand. New graduates can also expect to see organizations place an emphasis on audits as stricter lending standards require firms to prove their creditworthiness. While IPO’s have slowed in recent months, any companies preparing to go public must have adequate accounting staff on hand to prepare legally required financial documentation.
Graduates looking to pursue professional recognition in the form of a Certified Public Accounting (CPA) or a Certified Management Accountant (CMA) designation will have the best long-term job prospects compared to their peers. Those with a master’s degree in accounting or a master’s degree in business with a concentration in accounting will also have an advantage when looking for employment opportunities or career advancement.
Mike Garelli, Managing Partner of Marco & Associates – an accounting and finance recruiting firm based in Chicago – states “The continued high demand for accounting professionals is evident as companies are increasingly challenged with financial professionals leaving their current jobs for higher pay, better work life balance, and stronger company cultures. Hiring managers looking for accounting talent are just now starting to understand that the war for talent is real. They have seen key employees leave in response to offers which include sign on bonuses and 3-4 weeks of vacation time. New accounting graduates will benefit from the current state of the labor market as companies must compete for accounting and audit talent.”
For more information on accounting opportunities please visit our Opportunities page. To discuss your career outlook with one of our representatives, please contact Marco & Associates at 312.546.9800 or via e-mail at email@example.com.