Accounting Job Opportunities

Long gone are the days when public accountants were generalists being exposed to projects in audit, tax and consulting fields. These days, most accounting jobs (especially those at the Big Four) provide specific industry training. Accountants who spend many years working within one department of any given company develop niche competencies needed to succeed within the industry in which they are employed or to whom they provide services. As a result of this specialization, accountants can demand higher salaries within the industry of their expertise. Yet there are fewer job opportunities available to them since their specialized skill set results in a very narrow job search parameter. This is especially true for senior-level accountants.

Most people anticipate this pigeonholed effect and try to expand their expertise by switching jobs every few years. Doing so prevents them from being stuck within a particular industry, as well as increases their knowledge base and provides for a new intellectual challenge. Most importantly, switching jobs within the accounting industry frequently results in a significant bump up in salary. Yet job-hopping accompanied by short duration of employment can be perceived to be a poor reflection of a candidate's overall commitment or dedication, and might be viewed as a red flag on a resume.

Historically, public accounting firms have faced roughly a 25 percent turnover ratio every year. This is still the case, since most accountants working for the Big Four stay with them for only a few years, which is sufficiently long to progress from staff accountant to senior accountant. Those who have worked as senior accountants for at least one year had a chance to supervise staff and to lead engagements, so they can leverage this leadership experience to get a better position and higher pay at a different company.

Working for a public accounting company (especially for one of the Big Four) places individuals on a very lucrative career path. There is a high demand for well-trained accountants; those working for the Big Four often receive multiple calls on a weekly basis from headhunters offering to place them with a different firm. Some of these job offers may be hard to resist, despite the fact that raises in public accounting typically range between 8 to 14 percent. Aside from direct recruitment, industry-specific job boards (such as www.accountingjobs.com.au) are another common way in.