As with many fields, having a college education can drastically affect the kind of success you have with accountancy. Everything from salary, position, and company you work for can be impacted by the amount of education you have under your belt. This does not mean you cannot succeed without a masters degree, but it will certainly help if you do have a college education.
The reason for getting a college education is to gain knowledge and expertise in the field prior to getting your first job. Throughout the college experience, you may be required to get an internship of some sort along the way. Having an internship allows you to see first-hand what kind of work is done in this particular industry.
Not only is it much more difficult to get a job without going to college, but it can be difficult to get an internship as well. Anymore, internships are highly looked upon within the various professions in the world. It shows a company that you have pursued accountancy and still enjoyed the experience. This gives a company more assurance that you will not back out on them after a few months.
One thing you have to understand is even with a college education, you cannot expect to start at the top. It is a highly competitive industry that does require you to work your way up the totem pole. Many students come out of college thinking they know it all and expect to be making a six-figure income right away. Little do they know what is ahead of them?
Having a college education technically does not even guarantee you a job. It all depends on what openings are available and what kinds of competition you have for the job. You should also be prepared to move out of the state or country to take a position you have been offered. But you do have to realize the odds are in your favor with a quality education.
Companies are going to look much closer at a students resume if they have a college education over a high school education. The same can be said for a student who has a masters degree over a bachelors degree. The more experience and education you have in the field, the less the company has to do to get you going.
When first applying for jobs out of college, you are probably going to look for a starting-level job such as a pay clerk or an account clerk in a company or college. If you do a good enough job with this position, you can expect to be moved up to a much more rewarding accountancy profession. Many times this is a good supervisory job, but you never know what will be open.
The difference between a masters degree and a bachelors degree could mean a quicker advancement. Some coming out of college with a masters degree can start right at a supervisory position and completely skip the account clerk position. Within the supervisory position, you can expect to manage accounting functions prepare reports for the company. After this, you can move on to bigger positions with a higher paying salary.
Over time, it is a goal for most people to become an accounting manager at some big company or business. Being an accounting manager requires you to work closely with all financial departments in the company. You have to have experience with everything so you understand how to deal with any problems that may arise. This is where on the job training, such as an internship, and having a masters degree come in handy.
There is no denying the fact that getting the best education possible can help you succeed in accountancy. If you are not willing to go for a masters degree, it is vital you at least get a bachelors degree in accounting. This will give you the best chance possible to start a quality career.