Why 1.5 Million Professionals Choose Accounting: Your Route to Become an Accountant in 2024

The accounting profession continues to attract ambitious professionals seeking stable, lucrative careers. With nearly 1.5 million accounting and auditing positions across the United States as of 2021, the sector remains one of the most accessible pathways for those willing to invest in proper credentials. But what exactly makes this field so appealing, and what does the journey to become an accountant really involve?

The Financial Appeal: Numbers That Make Sense

Let’s address the obvious draw first: compensation. The U.S. Bureau of Labor Statistics reports that accountants and auditors earned a median annual salary of $77,250 as of 2021—substantially more than $30,000 above the national median wage across all occupations. This figure varies significantly by geography and specialization. Accountants in high-tech hubs like the San Jose area command nearly $36,000 more than the national median, while those in computer manufacturing sectors earn over $50,000 annually above their government accounting counterparts.

Career progression amplifies earning potential considerably. As accountants advance into financial controller positions—managing entire accounting departments—median salaries jump to $131,710, with projected job growth of 17% through 2031.

Job Security in an AI Era

One common concern about accounting careers involves automation. Won’t artificial intelligence and cloud computing eliminate these roles? The short answer: not likely. While technology will increasingly automate routine tasks, businesses, nonprofits and government agencies will continue requiring skilled accountants to oversee these systems and provide strategic financial guidance. As global economies expand and tax regulations grow more complex, accountants remain indispensable.

The BLS projects steady 6% job growth for accountants and auditors between 2021 and 2031—matching the average growth projection across all occupations. This sustained demand reflects the profession’s resilience and relevance.

What Modern Accountants Actually Do

Beyond the stereotypical image of spreadsheet specialists, accountants wear multiple hats. Their responsibilities span preparing financial statements and reports, evaluating organizational risk, ensuring compliance in record-keeping, and developing budgetary frameworks. Many serve as financial strategists, advising executives on major decisions, presenting findings to stakeholders and interpreting complex financial data for non-specialist audiences.

Success in these roles requires more than numerical aptitude. Strong communication skills are essential, as accountants must translate technical information into actionable insights. Detail orientation and analytical thinking form the foundation, though the profession attracts increasingly diverse talent. According to Zippia, 35.4% of U.S. accountants come from non-white backgrounds, 8% identify as LGBTQ and women comprise 61.8% of the field—though gender representation in leadership positions remains unequal.

Specialization Paths: Tailoring Your Career

The accounting umbrella covers numerous specializations, each suited to different interests and career objectives. Tax accountants focus on tax planning and return preparation. Cost accountants optimize operational expenses to boost profitability. Staff accountants maintain broad responsibilities including record maintenance, payroll processing and financial statement preparation. Managerial accountants function as financial strategists, interpreting data to shape organizational strategy.

Sector specialization offers additional routes—healthcare accounting, tech finance, government accounting and nonprofit accounting each present distinct challenges and opportunities.

Your Pathway to Become an Accountant: Step-by-Step

Step 1: Earn Your Foundation Degree

Most entry-level accounting positions require a bachelor’s degree in accounting or business administration. These four-year programs—typically 120 credits—establish foundational knowledge and practical skills. However, since Certified Public Accountant (CPA) candidates need 150 credits, many schools now offer five-year concurrent bachelor’s-master’s programs. A master’s degree in accounting, requiring approximately two years of additional study, substantially improves career prospects and is often preferred by employers and essential for CPA qualification.

Step 2: Gain Hands-On Experience

Internships during your final undergraduate years or immediately post-graduation provide invaluable real-world experience. These roles develop professional competencies, offer networking opportunities and sometimes convert into permanent positions. Public accounting firms, corporations, nonprofits and government organizations regularly offer accounting internships. Your college’s career services or academic department can help identify opportunities.

Step 3: Pursue CPA Credentials

While not all accountants must become CPAs, the credential significantly enhances career prospects and earning potential. CPAs possess exclusive privileges: they can represent clients before the IRS, serve as external auditors and file Securities and Exchange Commission reports. Requirements vary by state but generally include rigorous education, a qualifying examination and minimum two years of public accounting experience. Most states mandate continuing education for license maintenance.

Is This Career Right for You?

Prospective accountants should possess detail-oriented, analytical mindsets with comfort working extensively with numerical data. Strong communication abilities—often underestimated in this field—prove equally critical. If you enjoy problem-solving, precision and making meaningful contributions to organizational success, accounting offers fulfilling long-term prospects.

The journey to become an accountant typically spans six years: four years for your bachelor’s degree and two additional years for master’s study or accumulating work experience toward certification. While demanding, this investment yields substantial returns through above-average salaries, diverse career specializations and consistent job security. With technological disruption unlikely to diminish demand and economic complexity ensuring continued relevance, accounting remains a strategically sound career choice for the next decade and beyond.