A Closer Look at Accounting Career Paths
Start planning for your ideal accounting career by exploring entry-level, mid-level, and executive-level positions in the field.
Accounting is the backbone of any successful business, providing a solid foundation for financial planning and decision-making. It's a necessary function of any organization, regardless of industry. Whether you're considering the field or already in the early stages of your accounting career path, it's helpful to familiarize yourself with the various opportunities available.
Keep reading as we walk through the different levels of accounting careers and what you can expect as you progress throughout your profession. Consider all the options so you can begin mapping out your ideal accounting career path.
Establishing your foundation: Entry-level accounting jobs
Like many professions, the early stages on your accounting career path are largely meant for gaining experience. Earning an accounting degree builds a solid foundation but learning on the job and gaining field experience is an invaluable part of your professional growth.
Let’s take a look at some common entry-level accounting careers to consider:
1. Junior accountant
Becoming a junior accountant gives you a chance to finetune practical skills that will be useful throughout your career. This role involves assisting with financial statement preparation, ledger management, and analysis of financial records. You’ll gain a solid understanding of the inner workings of corporate finance and begin building a robust foundational knowledge to advance your career.
2. Accounts payable/receivable clerk
In this position, you’ll play a pivotal role in the financial health of an organization by managing its cash flow effectively. On the accounts payable side, you’ll be responsible for processing invoices and ensuring payments to suppliers and vendors are completed accurately and on time. On the accounts receivable end, you’ll focus on issuing invoices and ensuring timely collections. The skills gained in performing these duties can set you up on a clear pathway for professional growth.
Payroll clerk
Specializing in payroll operations, this position will hone your attention to detail and understanding of compensation, benefits, and tax regulations. Duties include calculating wages, preparing payroll checks, and maintaining accurate payroll records. Working in this position will help you gain an in-depth knowledge of financial regulations and build solid communication and collaboration abilities – skillsets that will serve you well as you continue along your accounting career path.
Progressing in the profession: Mid-level accounting jobs
Having some years of experience under your belt not only helps you sharpen your skills, but it can also provide more clarity regarding the direction you want your career to grow in. Once you’ve gotten a taste of the different types of accounting functions, you’ll get a better sense of what lines up with your skills and interests.
Here is a sampling of mid-level accounting careers to consider:
1. Financial analyst
As a financial analyst, you’ll delve deeper into financial data, employing your expertise to drive budgeting, forecasting, and investment decisions. By interpreting market trends, analyzing financial statements, and using statistical software, you’ll provide the actionable intelligence needed to foster company growth and financial health. This role is ideal for those aiming to influence strategy through insightful financial planning.
2. Certified Public Accountant (CPA)
Earning the CPA designation signifies your expertise and commitment to the highest standards of accounting. This certification can unlock opportunities within a variety of roles, including auditing, tax advising, consulting, and management or cost accounting. CPAs are not only sought after by firms, government agencies, and private companies, but you’ll also have the freedom to work independently if you choose.
3. Forensic accountant
Another option for advancing your accounting career is to specialize in a niche area of the field. Forensic accountants, for example, are the detectives of the corporate world – merging their accounting knowledge with investigative skills to analyze and interpret financial data. In this role, your analytical expertise will help uncover potential fraud or embezzlement, prevent financial misconduct, provide litigation support, and identify financial vulnerabilities within your organization.
Reaching the pinnacle: Executive-level accounting jobs
After gaining extensive experience, completing advanced education, and earning any necessary certifications, you can work your way up to the top level of advanced accounting careers. Your deep knowledge, strategic thinking, and leadership abilities will help you make a meaningful impact in these influential roles.
Learn more about some of these executive-level accounting jobs:
1. Chief financial officer (CFO)
What many would consider the most coveted position in the accounting world, the CFO is the guardian of an organization’s financial health. In this position, your responsibilities encompass a broad spectrum of strategic, operational, and fiscal activities. This includes strategic planning, risk management, financial reporting, investment and capital management, and leadership and development. It's a role reserved for visionaries who can meld strategic insights with financial acumen.
2. Controller
Positioned uniquely within the organizational structure, a controller acts as the financial cornerstone in medium to large companies. The controller is responsible for managing and producing financial reports, ensuring their timeliness and accuracy. You’ll need to be well-versed in budgeting, forecasting, and compliance regulations to succeed in this instrumental role.
3. Director of auditing
Specializing in internal or external auditing, the director of auditing stands at the forefront of corporate integrity and accountability. This advanced position requires an adept ability to navigate complex financial landscapes, ensuring accuracy, compliance, and effectiveness in financial operations and reporting. Through developing strategic leadership, effective communication, and compliance mastery, this influential role could be where your accounting career path leads.
Advance in accounting with Utica University
Now that you have a better understanding of some potential accounting career paths, you can start to reflect on your desired path. Whether you’re already on your way or planning your first steps, it helps to have a destination in mind so you can begin building relevant skills and experience along the way.
At Utica University, accounting students gain real-world experience and expert mentorship while earning their degree, starting them on an upward career trajectory fueled by continuous learning. With online accounting degrees at the bachelor’s and master’s levels, you can maintain a healthy work-life balance while you advance your education in pursuit of your professional goals.
Take the next step on your accounting career path with Utica University supporting you every step of the way. Explore our online accounting programs:
