<p>so according to the above accounting thread here, it seems like accounting is an amazing career. Good salary and employment opportunities without an intensive/exhausting life style or having to go into debt for grad school. If this is true, accounting must be one of the golden tickets into the middle class life. What if everyone goes into accounting like they did with law and the whole market in 10 to 15 years becomes saturated with accountants? What makes accounting so different from law that it will be in demand continuously?</p>
<p>I'm considering accounting as a career, from research, reading about it on CC, etc. But now I'm concerned with the idea that there is going to be a huge rush to get into the field because it seems so ideal, as is suggested here.</p>
<p>There is not 1 business person that doesn’t use a lawyer or need some understanding of law. Even drug dealers need lawyers.</p>
<p>Small businesses often go years without an accountant. It depends on the owners ability to handle legal and accounting matters. Both subjects come up and one has to know enough about accounting and law to know that they don’t know nearly enough for the business to survive certain stages of growth and or crisis. It’s better to use attorneys to avoid a crisis than to use them to survive a crisis. Survival mode is more expensive. An accountant would tell you that</p>
<p>It’s already saturated. As taxguy says, you need a strong GPA, but the average intermediate grade is curved to a C unless you go to a privileged school.</p>
<p>Most companies can use a lot more accountants than lawyers.</p>
<p>That said, I do think accounting will continue to grow more competitive and the top accounting programs will likely continue to see more dramatic differences compared to an average program for exit opportunities of their students like they have recently. It’s unlikely that accounting will ever get as competitive as finance or law, even if it’s simply because society requires more auditors than venture capitalists or judicial clerks.</p>
<p>The key here is that it is still one of the surest majors to guaranteeing at least a middle class salary at an average university where simply having a degree is becoming less impressive.</p>
<p>The question is whether you can still do things with your accounting or law degree beyond the obvious once the demand for obvious jobs is met(i.e. specific law or accounting jobs). You can probably do other basic business jobs as an accountant, particularly if you have a double major or maybe a minor in something else. I don’t know about what lawyers can do besides be lawyers…teach “Government 101” at community college? Graduates of expensive law schools need high paying lawyer jobs to pay their student loans. Accountants can put on brown shorts and drive trucks for UPS and probably still pay off their loans, if they have any.</p>
<p>thanks for the responses guys. What is an “exit opportunity”? seems like accountant jargon.
Also, I have no interest in law, I’m just concerned that accounting is going to become flooded with people just like in law.</p>
<p>“Exit opportunity” is business jargon. Just like you make a strong entrance when you enter the room you should have a strong exit. To do that requires timing and the ability to recognize an opportunity.</p>
<p>A strong exit in business is one where you exit from one situation into another that leaves you better off. Usually you’re better off in position and/or money. The perceived strength of your exit depends on your own values and goals. A poor exit may be leaving a job and joining unemployment as a disgrace, or prison.</p>
<p>Business, in general, can be a dry topic if you don’t like it. It’s all math and logic. Even marketing has some quantitative elements to it. You aught to pick a major you like.</p>
<p>I just spent the last hour reviewing a policy document issued by the Feds that summarized the “Foreign Corrupt Practices Act”. I think it’s a form designed as a cure for insomnia. It’s exciting because of what it represents. A step for my business in in international trade and finance and the prospect for great profits.</p>
<p>You’ll take at least 1 law related class in business school. Law and business are intimately related. For example Contract Law, Tort Law, Tax Law, International Law, the Uniform commercial Code, Securities Law, The Foreign Corrupt Practices Act,
Administrative Law, Employment Law. Within any business there is policy and procedure, By-laws (Operating Agreements, Partnership Agreements), Employment Contracts, Notes for leases and loans, Trade Mark laws and Intellectual Property laws (You don’t want people stealing your next great thing do you?). It’s endless. So is the need for accountants. Look in the room you’re in. Everything in there was counted, priced, taxed, and sold.</p>
<p>On exit opportunities…being President is a lot of work and pays poorly(good perks). However once you do it, you have great exit opportunities. Bill Clinton has reportedly cleared somewhere in the 100 million dollars range mostly from speaking fees in the past decade. Being an NFL player would be the opposite. You might make a lot up front but once you are done, you aren’t qualified to do much more than coach high school kids. Exit opportunities are something to consider when looking at entry level salaries in particular.</p>
<p>If you’re concerned about oversaturation in accounting…</p>
<p>Can you say, “India”?</p>
<p>Before the college student know-it-alls and the forum experts who haven’t worked on a Fortune 100 client for decades arrive in here to argue with me, let me just say I left Big 4 practice this year. I’ll leave it at that.</p>
<p>acaden, god knows how many people reading these boards are from India anyway. </p>
<p>My understanding is that Deloitte Consulting is even more overrun with people from Region 10 than the rest of the company. I think lots of business school type jobs are going that way, not just accounting.</p>
<p>My sister is an accountant, and from what I can tell the reason why I don’t think finding a job in accounting will be tough in the future is mostly because accounting is one of the driest fields out there… Its not like lawyers who actually like law, accountants like job security. To be an accountant, you have to be devoid of any human happiness and only go in for job security…should be noted I’m majoring in accounting</p>