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How to start a career in finance? There are so many possibilities available to one who chooses to build a career in the accounting industry. How to start a career in finance? With corporations going international and others going public, the need for skilled experts at sorting out the business of cash inflow and outflow; distribution of company finances, has a keen eye for details, has good investigative skills; one who employs good; unbiased judgment of the task and who is compliant with and up to date with financial tax rules and laws shall remain a standard demand in the job market.
How to start a career in finance? A good place to begin a solid foundation for a career in finance; and accounting is in high school where one can get the necessary start in the skill sets an accountant would need to develop and possess.
How to start a career in finance? It is important that anyone considering a profession in this industry be aware of the many job opportunities available to them so that choices of specialty can be determined early on. Having a good idea of where you want to begin your accounting career will help you determine the number of years of studies before you can either become employed; or when you can start preparing for licensure exams.
At any rate; the advantages of starting a career in finance; and accounting is that an individual can get into the business by way of starting with an associate degree complemented by actual training; and work experience. Many who start out this way aim to get certified later for specific specialties; and to pass the CPA exams allowing them a wider range of job options based on their qualifications. These accounting jobs list not only the skill set required by the job; the following information also reveals the average annual wage that can be expected by a skilled candidate.
Types of Jobs in the Finance Industry
How to start a career in finance? Make sure that you take advantage of resources that give information about specific employability requirements as required by specific states. There are also specific details on statistics on the data of median wages for each sub-specialty in accounting.
How to start a career in finance? Payroll clerk is given the responsibility of gathering; and posting work hours in order to determine the amount of wages for an employee. A payroll clerk gathers the payroll data information. A person skilled at being a payroll clerk and who has experience; and background in human resources has a higher chance of getting offered more money as annual wage compensation. The annual salary for a payroll clerk ranges between $24,000 and $44,000 annually, depending on experience and background.
Assistant controller helps the corporate controller and maneuvering accounting functions of an organization. These accountants take home and annual salary of about $80,359.
Cost Accounting Manager
How to start a career in finance? The cost accounting manager is responsible for preparing and direct in the use of cost accounting method. The Job requires that the individual have a bachelor’s degree in a related area; and that they have at least seven years of field experience. They need to be in the know and familiar with different practices; and procedures as well as concepts of the field.
Corporate Entertainment Accountant
A corporate entertainment accountant is a CPA who can work for a record company a production company or a studio. The starting salary reportedly earned by a corporate entertainment accountant is at $30,000. Other responsibilities of a corporate entertainment accountant would include:
Apparel Industry Accountants
How to start a career in finance? Apparel industry accountants are those to manage the finances and file for taxes of company brands in the fashion industry. A good springboard position would be with a supply-chain as a finance manager handling the funds of the long term procurement of materials while coordinating the overall budget, headcount analysis, forecast; and financial plans. Apparel industry accountantsearn an annual salary of $40,000.
How to start a career in finance? Cost accountants figure out the price of manufacturing services through the determination of variable; and fixed expenses needed for production including equipment human resources marketing; as well as research and development. All information collected by cost accountants are useful and needed for budgeting purposes; as well as product pricing as these affect the future earnings of a business. Cost accountants typically work with the executive team creating and mapping out a financial plan for the firm.
Cost accountants get offered a starting salary ranging anywhere between $40,000 and $51,000 each year. The Bureau of Labor and Statistics report the median yearly salary of a cost accountant to be $60,340 a year. Gaining a three year experience doing the job can earn an average salary of $45,000 up to $70,000 a year for a cost accountant.
Credit Analysis Manager
A credit analysis manager is an accountant who basically focuses on getting back money; that is owed to their company for services rendered or as payment for a particular product. It is the credit analysis manager who initiates legal action when individuals neglect to pay what is owed to the company. The median annual salary for a credit analysis manager is $61,000. The pay range starts at $40,000 that goes as high up as $80,000.
How to start a career in finance? Treasury analysts are responsible for an organization’s financial activity. They manage the cash flow of the company and they manage the credit levels, liability and income of a company. An individual with experience can earn over $90,000.
Vice President for Finance
Vice President for Finance gives coordination and leadership to the firm’s financial planning budget management and debt financing. A vice president for finance can take home an annual wage pay of about $124, 000 excluding the amount of yearly bonuses.
Chief Financial Officer
The Chief Financial Officer is responsible for overseeing and directing; and organizations and its short and long-term financial budget and goals. They’re accountable for timeliness, reporting accuracy, as well as regulatory and legal compliance of the company’s overall financial reporting. But she financial officer or creates; and implements accounting and financial systems and tools which are aligned with a businesses long-term goals.
The salary of a chief finance officer hinges primarily on the industry of the business. Salary also depends on location of the organization, extent of professional experience, company size; as well as the level of education attained by the individual. Data collected put the average median annual salary of a chief financial officer at around $173, 000; but it is probably safe to assume that most CFO’s of big companies earn more than that amount.
With many companies going worldwide; and doing business internationally; and because of an increasingly competitive global market, international accountants are needed more and more to carry about these tasks. International accountants are those who handles the financial balance sheets, they are the ones concerned with company cash expenses; their skills allow them to scrutinize and review financial company records and make projections. They know and comply with local and international taxing laws. They are responsible for keeping abreast with international laws of trading and financing of which they are compliant.
How to start a career in finance? International accountants are able to analyze; and determine exchange rates between collection dates and selling dates that may result in significant profit gains; or losses which they record. International accountants are pivotal in international companies because they’re able to understand and abide by different country tax laws and regulations. The median salary of an international accountant is about $54,000. Candidates who have gained ample experience and expertise in international accounting laws earn a much higher annual salary of $94,000 a year.
Personal Financial Advisor
A personal financial advisor to the stars is an accountant who finds work in the traditional field of accounting but get to do it for people who are famous and known.
Managerial accountants are those who prepare financial information for the internal customers of a company, such as executives and managers. The aim of this area of specialty focuses on the examination of a company’s financial data in order to make forecasts. The average annual salary a managerial accountant takes home ranges between $45,000 to about $70,000.
How to start a career in finance? They are the ones given the task to analyze the financial information of the organizations where they work. They are also tasked to record and organize these financial documents.
All information about financial findings prepared by managerial accountants for the organization is only meant to be seen by the company’s internal clients like business managers. Management accountants usually work on performance evaluations. They evaluate the organization’s budget. The organization they work for in determining the budget of a business.
Management accounting is a field that focuses on the affair of gathering accounting information for the purpose of internal operational reportage. This involves areas like target costing and cost accounting. A management accountant can typically lead up to a controller position. It can also meet up with a host of other specialty positions like billing clerk, cost accountant, payroll clerk and payables clerk.
Spectator Sport Accountant
An accountant employed in the spectator sport industry is another position which promises great perks and rewards should the candidate have the proper skills and education to back them up. The Bureau of Labor and Statistics reported that accountants employed in the sporting industry were paid and average salary of $68,070 in 2011. A big edge for an individual seeking employment as a spectator sport accountant possesses an MBA. Perks, like front-row center seats to your favorite team’s matches are just one of the many for those who get their foot in the door.
Senior Financial Analyst
How to start a career in finance? A Senior Financial Analyst is usually employed by big, international companies who have a large enough population that would require a financial team. Accountants who hold positions as this in a company can earn an annual salary of $74,000.
A senior financial analystis the one tasked to review the finances of the company. They give recommendations to management about the company and how they can lower operating costs without taking away from the quality of the service or product. Makes recommendations on how the company can improve its financial stance
These MBA accountants lead a group of financial analyst who work with company funds spent and made in all areas of the business.
Accountants in this position prepare reports and review them as well. Senior financial analysts typically lead a team of lower – level financial analysts. Accountants in this position report to the director of finances. Their tools to carry out the trade are computers, statistical and financial software, a phone and other usual office supplies.
Accounting Software Developer
How to start a career in finance? An Accounting Software Developer supports teams of developers and managers of a software firm.
An individual with a master’s degree has a better edge on landing this job, but there are many who start with a PhD. or a bachelor’s degree and work their way up or continue on with leveling – up themselves through further studies. Those who have a background in and are hired specifically to develop reportedly earn an annual salary of $89,000.
A finance director position requires the candidate to possess and advanced degree in academic studies and a minimum of at least 10 years working experience in the field. The candidate should be familiar with the concepts of the field and its diversities in practices and procedures.
Information Technology Accountants
How to start a career in finance? Information Technology Accountants are specialists who are equally skilled in both computer and accounting systems of organizations they work for. There are many positions in this field and the education requirement, the job outlook, certification options and salary are diverse and variable. An Information technology accountant could earn an average yearly wage of $103, 910.
The median wage for a corporate controller according to the Bureau of Labor and Statistics in the United States is $112,000. Corporate controllers are those; who have a say on how company funds are spent. They lead rank and file employees who work in the finance departments of the company.
Want to be a Professor?
How to start a career in finance? In order to be a professor to teach accounting to those who want to build a career in the industry, they will have to earn a doctoral degree in accounting. An accounting professor is the individual who researches and imparts learning to students of accounting. They are also those individuals who teach fellow accounting professionals helping keep the professionals in the business abreast with local and international financial laws and taxing regulations.
Accounting professors are usually given an annual starting salary offer of $127,400 whilst an assistant professor takes home $113, 800 annually. A full time accounting professor earns about $137,800 each year whilst and associate accounting professor takes home $114,900 every year.