Accounting and financial services to see growth in near future

05.06.2014


Accounting and financial services to see growth in near future
Accounting and financial services to see growth in near future

The accounting and finance sector is seeing a major resurgence in the employment market. Future predictions of strength in the industry may drive the market even further, which would bode even better for employment.

According to the most recent report from the AICPA, the current market outlook regarding optimism for the United States economy from accounting and financial professionals has increased by 9 percent to reach a recent high not seen in years. In addition, the number of financial companies reporting that they are planning to immediately hire recently reached a post-recession high of 15 percent, which is a benchmark only seen once in the last five quarters of the industry. Another 19 percent of companies noted that they have too few employees but are waiting to hire. It's likely that a number of these companies shift their focus in the near future to add more employees to their staffs.

EFinancialCareers adds that a few select positions are especially sought after in today's market. Companies are searching for workers who understand the ins and outs of equity research, while brokerage skills are also heavily sought. Companies are also looking to expand credit officers and electronic banking professional positions in the near future.

Accounting and financial advising top jobs

The Business Administration Information added that the accounting field is seeing large growth no matter the specific discipline or industry a worker chooses to enter. The National Association for Colleges and Employers has listed accounting as one of the top 10 overall bachelor's degrees in demand, as workers can choose to work for individuals, corporations, small businesses or the government. These options, combined with an increasing need for businesses to follow laws and regulations, are helping accountancy gain 16 percent anticipated growth in employment from 2010 to 2020.

Workers with Certified Public Accountant certifications, a designation that shows their advanced skills, will have even more competition in the market from a number of different workers. Any job that requires reporting to the Securities and Exchange Commission, or SEC, will need its holder to have such a distinction.

The news sourced added that financial advisors, who can help others with aspects of financial health from investments and taxes to retirement, are also seeing high potential for industry expansion. Being able to assist others with managing their money has long-term advantages in the job market, as financial advisors have been reported to expect a 32 percent increase in employment through 2020. It's expected that gaining licenses or master's degrees in this section of the industry will draw even more attention from managers.