Accountants are the keepers of the accounts. They are employed in almost all sorts of offices, firms and institutions. Accountants are the backbone of any business and everybody knows that the world loves to do business and where there’s a business, there are accountants. Having such a large scale employment opportunities, the trend to become accountant has always been a preference for those looking for professional careers. This factor raises a question in everyone’s mind that how much do accountants make? Well you’ll get the answer real soon!
Production and Certification of the Accountants
Becoming an account requires special qualification and practical exposure of work as well. Various countries of the word have introduced special accountancy programs, available in degrees and diplomas. They may range from one year to 4 year duration. Special internship is also required in most of the countries to validate their knowledge and credentials. Keeping in view of the sensitive and the most responsible portfolio of an accountant, education from certified institutions is required. Generally speaking there are two types of education available in most of the countries in accountancy; CA and ACCA.
Global Population of the Professional Accountants
As there’s a lot of businesses organizations in the whole world, so are the accountants. According to statistics, there are more than 178,000 accountants as of now and they have 455,000 accountants in the pipeline i.e. as the students! A huge population means that there’s a huge competition out there in the market for the newbies in this field. The fact is that the ever rising entrepreneurship and investments have generated a huge population of the business concerns in the world, so the newbies have got playgrounds to book their slots into them and the packages are the heavyweights. It is also noteworthy that with the rise of business and commerce in the world, accountants all over the world have also seen a tremendous rise in their income as well as in career opportunities.
The accountants play vitally important roles in the business world. No organization can be run without a team of accountants. Their job slots are akin to the size of a business concern as well as the economic activity there. Thus, the number of accountants in the team depends upon how big the organization is. But in general estimation, the posts of accountants are available around the globe with lucrative packages.
Finally! How much do accountants make? The earnings that the accountants make vary in different regions of the world. Even within a country, they could vary, depending mainly on the economic activity and profit ratio in various markets.
The prime matter of concern for the accountants these days is not to find a job, but to find the job in the appropriate region or more accurately in the best market. In past few years, the salary statistics have shown encouraging trends for accountants in various big markets of the world. The international surveys conducted in the year 2012 show an income of $49,700 per year. In 2013, there was further rise of 7.2 in yearly salaries of accounts $53,300. The statistics of the United States display even more enhanced income per anum i.e. $72,500.
In past few years, the salary statistics have shown encouraging trends for accountants in various big markets of the world. The international surveys conducted in the year 2012 show an income of $49,700 per year. In 2013, there was further rise of 7.2 in yearly salaries of accounts $53,300. The statistics of the United States display even more enhanced income per anum i.e. $72,500. In the UK, the salaries of the accountants on an average range from £26,000 to £50,000+, making it a true heaven for the Accountants! These statistics on how much do accountants make suggest that if you’re an accountant and if you want to make healthy money, the true heavens for you are the United Kingdom and the United States! Because these are the countries where the accountants make the most!
Various Types of Accountants
The word accountant refers to a number of job statuses and a variety of assignments in the field of accountancy. Tax and cost accountants are the prime examples of this variety. There are further categories as well. It is important to note that with every niche in accounting, the financial prospects change. Thus some of the categories have promising financial opportunities in comparison to the other. At the top of the list of various types of accounts are tax accountants that earn fairly more than others. The categories of book-keeping and payroll accounting services are the other well-paid types.
There are ample chances of career improvement in the field of accountancy. The upgrade comes from experience which is achieved by working in bigger organizations. The other chances of upgradation come from improving professional qualification. Different specialization programs are available across the globe in various institutions where the Accountants do their specializations in various relevant fields. There are associate diplomas and certifications are also available for various types of accountancy work. All this contributes a lot in broaden chances of further increase in yearly pay and enhance one’s job status as well as job security. Some of the well-reputed and internationally recognized surveys also maintain that there is a rising trend in the salaries of accountants of the world in coming years. With every passing year upto 2020, there is a continuous rise upto 14%.
Because of a whole team of accountants usually working in almost all the organizations and bodies, the work hours of the accountants are not way too much, they’re just nominal and not hectic at all. Average work timing of the Accountants, except for the busy days, may vary from 8 to 9 hours. In some countries, they have to work from 0900 hours to 1700 hours (8 hours) whereas in some countries it is from 0900 hours to 1800 hours (9 hours). The timing may vary according to the organizations as well, not necessarily the countries.