Specializing in the accounting profession increases one’s chances of a successful business career. Since accounting, one aspect of the business/financial world, once retained an image of a male-dominated province, many women may wonder what kinds of opportunities there are for women in the accounting profession. In the last thirty five years, the world of business has changed drastically for women; in 1977 28% of women graduated with an accounting degree, while in 2011, that number almost doubled, with approximately 53% of graduating accountants being female. While the profession has yet to achieve complete gender parity, with a noticeable gap between male and female partners and leaders of accounting firms, there are many lucrative employment opportunities for women in the accounting profession.
Accounting Opportunities for Women
Women who wish to become certified public accountants need to earn an undergraduate degree with an accounting major, one to two years of work experience, and a CPA license. A 2012 report released by the BLS shows that the employment outlook for the accounting field is expecting a 13 percent increase by 2022, providing an additional 166,700 job opportunities for certified public accountants. Women entering this profession may earn a median annual wage of $63,550. The Journal of Accountancy notes that while dividing accountants by gender is not desirable or productive, acknowledging that gender-based perspective will enrich a company’s services, that opportunity for promotion and executive position is currently uneven, and that the business world could benefit from schedule flexibility, will mean that more opportunities for women in the accounting profession will arise. If you’re interested in an accounting degree, check out 10 Best Online Accounting Schools for more information.
Career Growth in Accounting
According to a news report by AccountingWEB, Robert Half, a global staffing firm, recently released a survey that showed women who enter the accounting profession have at least 30 percent more career advancement opportunities than 10 years ago. Making great strides to promote female professionals to executive positions, organizations are more focused on retaining a diverse staff and top talent. Women entering this field can choose to belong to a national society for women accountants, such as the American Women’s Society of Certified Public Accountants or the American Society of Women Accountants, to increase their standing in the finance industry and maintain career progression opportunities.
Many new initiatives and industry groups have risen up to increase the focus of career advancements for women, promoting sponsorships for women to obtain positions of power. These organizations include the Massachusetts Society of CPA’s Women to Watch Awards, New England Women in Real Estate, and Accounting & Financial Women’s Alliance. Women who are interested in accounting degrees should investigate financial and scholarship opportunities such as the Educational Foundation for Women in Accounting, which offers funding and support for women who wish to enter the field.
As the world’s reliance on international commerce and global systems increases, the need for accountants continues to grow. What kinds of opportunities are there for women in the accounting profession? With the ever-increasing demand for international and domestic accounting standards, women in the accounting profession can expect numerous job opportunities across the globe.