If you read a headline saying that 80% of people in a particular career or industry reported having high satisfaction levels with their employers, which jobs immediately come to mind? International models? Firefighters? Ice-cream testers?
How about accountants?
Despite the stereotypes pushed by media, accounting has been shown to be one of the most satisfying careers out there today, and it’s not just because they can learn to file their own tax returns (although that is quite useful).
Accountants have their pick of job across virtually every industry
Whether it’s a small business running a stall at the local markets, or a multi-national business dealing with billions of dollars in revenue, virtually every business will require the services of an accountant in one way or another. This means that accounting is one of the most in-demand and reliable careers in the modern world – and not just for helping balance books either. As technology has improved, accounting as a job has moved more and more away from the stereotype of an office worker in a green visor typing away at an adding machine, and more as a jack-of-all trades business expert that provides their expertise to help organisations of all kinds reach their goals.
In fact, according to recent research conducted by Chartered Accountants Worldwide and Edelman Data & Intelligence, Chartered Accountants rank as the most trusted finance professionals, ahead of bankers, financial advisers, economists and insurance brokers.
Perhaps it then comes as no secret that accountants enjoy an above-average salary, with lots of headroom for growth as they gain additional qualifications, build their skills, and continue to specialise. We know from our research that a high income and career growth remain as strong pull factors for any young person looking for a career, especially as the cost of living continues to increase. While working as a writer is plenty of fun, there are times that I wonder how things may have turned out if I’d picked a career in accounting.
Accountants use their work to pursue their passions
As we mentioned before, virtually all businesses interact with accountants on some level, which means that if your child is purpose driven, they can bring their desire to support the businesses, industries or causes they care about to their careers through accounting.
If your child is interested in industries such as sports, entertainment, video games, health and fitness or tech, accounting represents a fantastic pathway to landing a position in these areas, where they can help them achieve their financial and strategic goals. The added advantage to pursuing a career in accounting is that this also allows them to move from one industry to another as their interests and priorities change.
For example, while they could get a job in the tech sector by becoming an app developer, if they decide to pivot to working in healthcare, they might have a harder time adapting their skillset to a new industry compared to an accountant.
Accountants enjoy some pretty great lifestyle perks too
A great career isn’t just about what happens at work – true fulfilment comes from how work can support them in their everyday life. One lesser-known perk of being an accountant is that your child could save thousands on their mortgage through a LMI (Lenders’ mortgage Insurance) waiver. If they were taking out an $800,000 loan, this could save around $17,699 if they’re a Chartered Accountant or equivalent. That’s because lending organisations recognise that due to the high salaries and job security and their excellent money management skills, accountants have some of the lowest default rates in the country (source: ANZ)
Many accountants also enjoy a strong life-work balance. Recent advancements in technology have allowed them less time on labour-intensive jobs such as data validation, and more time providing meaningful insights and strategic advice to businesses and organisations. Plus, accountants work in a range of firms of different sizes and cultures, meaning that if your child is someone who values working in a high-performance culture alongside the best in the business, or prefers to work in a community-minded smaller firm, they can find the lifestyle that suits them best.
How can my child find out more about accounting?
Despite there being so many great things about a career in accounting, our research has revealed that many young people aren’t aware of what working in accounting really looks like. That’s why Year13 and Chartered Accountants ANZ have teamed up to create Business Class, a free, interactive fun short course that shows Gen Z that there’s more to accounting than meets the eye.
Help your child fuel their passions
Whether your child is obsessed with sports scores, hardcore gaming, saving the planet, or something else – CA ANZ are giving them the chance to win 1 of 10 $1,000 Visa gift cards to make epic things happen in an industry they love. T&Cs apply. Share this website with them to enter: MakeEpicThingsHappen.com
