Despite the recession economic recession, there are plenty of job opportunities in the field of accounting. In fact, the recession has fuelled the employment growth for these jobs even more. Financial planners, financial analysts and certified public accountants are needed in good numbers. If you have a keen interest in accounting, you have numerous top paying careers to choose from. The US Bureau of Labor statistics predicts an employment growth of 25% for accounting jobs over the next decade. Given below are 5 top accounting careers for you to consider.

 

#1. Internal Auditor
One of the best paying careers in accounting is that of an internal auditor. If you want to become an internal auditor, you need to obtain certification. Great career opportunities await those who hold certified internal auditor designation. Major job responsibilities of an internal auditor include safeguarding assets, reporting finances, controlling financial operations and adhering to the associated rules and policies. These professionals work closely with the top management of the company and the board of directors providing them expert advice on effective execution of responsibilities.

 

To demonstrate your competency in the industry, you will need to acquire the Certified Internal Auditor (CIA) designation. Educational qualification required for an auditing career is at least a bachelor's degree and a few years of relevant experience. The top accounting career of internal auditing also offers best earning opportunity. The average annual salary that this career fetches ranges between $77,500 and $101,500.

 

#2. Compliance Executive
As the job title suggests, compliance executives are responsible for helping corporations comply with rules, laws and guidelines. Legislation was incorporated in the accounting industry to prevent public from making accounting errors and avoiding fraudulent practices. Since there is a great demand for compliance executives in the corporate sector, you can choose this top career depending on your skill sets and interest. The starting salary for compliance executive jobs is expected to witness an increase of around 14.4% in the corporate sector.

 

Compliance executives who carry US Securities and Exchange commission working experience are in high demand by employers. This is one of the top paying careers in the field of accounting and finance. The median annual salary of a top corporate compliance executive in the US is around $192,569.

 

#3. Financial Analyst
The job position of a financial analyst is yet another high paying accounting career. These professionals help corporations with budgeting and projecting initiatives. Also referred to as investment analysts or securities analysts, these professionals are employed in securities firms, insurance companies and banks among others. Job responsibilities of financial analysts include reviewing a company's financial statements, analyzing the sales, costs and expense and assessing the value of the company in order to project future profits.

 

Due to the increasing demand for the top accounting jobs of financial analysts, the salary for these professionals is projected to increase by 5% - 6%. The career fetches an average annual salary of $61,910. The annual salary of financial analysts can go up to $141,070, one of the highest paying.

 

#4. Staff Accountant
In terms of financial operations, staff accountant are those professionals that constitute the foundation of an organization. These professionals are responsible for applying accounting principles to the accounting area they are assigned. Staff accountants are also required to have knowledge of the rules and policies of accounting to perform their roles effectively. Accountants who carry at least three years of relevant work experience are hired by employers as staff accountants. The staring salary for this top career is expected to increase by %5.

 

#5. External Auditors
Auditors fall into two categories - external and internal. External auditors are those auditors that are called upon from outside into a company for reviewing financial records. The main job responsibilities of these professionals include analyzing the financial statements of organizations and expressing whether the records are free or error and misstatements. In addition, an external auditor's career also involves investigating a range of issues as raised by authoritative or regulatory bodies. The starting salary for this top paying career in accounting is expected to increase by 5.2%.

 

If you have a strong passion for working in the accounting industry, you have a wide range of top careers to choose from. These accounting careers are not only the most popular ones but they also bring in best salaries. Get adequate qualifications and work experience to receive maximum career benefits. Always pick a career which is in tune with your skills, aptitude and talents.

Businesses and organizations always need trained professionals to effectively distribute their limited financial resources. In large organizations where the structure is quite complex, the task can not be completed with the help of budget analysts. Therefore, there is a growing demand for these analysts, who develop, analyze and execute the budget. Becoming a budget analysts is one of the most rewarding careers that accounting offers. To make the most of your career in this occupation, you need to be familiar with all the essential career information including the job description, nature of work, educational qualification, training, career advancement options, earning benefits etc.

 

Job Description
Budget analysts work for a variety of businesses, organizations and institutions. The major job duty of these professionals is to provide expert advice and assistance in the preparation of annual budget. Analysts who work in the private sector analyze the efficiency and find ways to maximize the profit of businesses. On the other hand, those who work for non-profit organizations hold the work responsibility of effectively distributing funds.

 

Budget analysts work in close contact with senior managers and department heads in an organization. At the start of each budget cycle, analysts analyze the proposed financial plans submitted by managers and department heads. These proposed plans include essentials like funding increment, capital expenditures, estimate costs, expenses etc. All these are then reviewed by budget analysts. Analysts check the submitted proposals for precision and accuracy. In addition, budget analysts see to it that the proposed plans are in conformity to the organizational policies and objectives.

 

After completing the review of the proposed financial plans, budget analysts then work to consolidate the different departmental budget into capital financial summaries. After the budget summaries are consolidated, they are submitted to the senior management group or the elected officials for approval. After conducting a scrutiny of the proposed budget plan, the organization head or the chief operating officer makes the final decision of approving the plan.

 

The job of a budget analyst is not over yet. Even after the entire budget plan has been finalized, approved and put into work, analysts periodically monitor the budget throughout the entire year. They ensure that funds are being used exactly in the way they were allocated. In case, there are some discrepancies in the approved budget and actual payout, budget analysts prepare reports citing the reasons that may have caused the expense to arise. Analysts may also give recommendations for making adjustments in the proposed budget to avoid any kind of deficit.

 

Working Conditions
Budget analysts perform their work indoors in comfortable office environment. Professionals usually need to work additional hours during the initial budget planning and the final review of the proposed financial plans. So, they usually work more than the standard 40 hours a week. In case of special budget requests, there may be an interruption in the work schedule of analysts. Depending on individual organizational requirements, budget analysts may be required to travel.

 

Educational Qualification & Training
To become a budget analyst, candidates should at least possess a bachelor's degree in areas like accounting, finance, public administration, business, economics or any other relevant field. A master degree in a relevant field would be required for advanced career opportunities. In addition, candidates also need to be well versed with various software package related to the budget analysis. Excellent verbal and written communication skills, analytical skills, an ability to work under time constraints are the essential job skills required by budget analysts. Many employers also provide formal training for entry level job positions. Additional certifications like the Certified Government Financial Manager (CGFM) will be required to work with government agencies.

 

Annual Salary
The salary of budget analysts would vary depending on their work experience, geographic location and the type and size of the employer. The annual salary in this occupation ranges between $45,170 and $70,530. Those who are employed with the federal government earn an average salary of around $61,640 annually. With increasing work experience and skills, budget analysts can earn as high as $87,380 annually.

Are you ready to make a career in the finance industry? Well, the industry offers aspiring candidates a host of career options. If you have a keen interest in working for financial institutions and banks and handling financial transactions, you can consider becoming a financial examiner. Since financial institutions have to abide by multiple laws and rules, financial examiners are called upon to see to it that these institutions work in compliance with the laws that govern them. Private corporations, federal government agencies and state agencies - all of them offer employment opportunities for financial examiners. Read on to know more about the job description, typical responsibilities of these examiners, educational qualification required and career prospects that await you in this field of banking and finance.

 

Job Description
Depending on where they work or are employed, the job responsibilities of financial examiners may vary a little. For example, examiners who work for private companies hold the responsibility of examining the company's tax documentation before filing the same. While performing their duties with financial institutions, examiners ensure that the records and authentic and in appropriate order. They are responsible for checking the tax return to make sure the deductions are accurate and legitimate.

 

Job duties of a financial examiner will also vary depending on their job position. Sometimes, these professionals are also called upon to manage accounting procedures for large computer accounting systems. Examiners who join at entry level positions may need to perform some clerical task including entering tax information into the computer system.

 

Typical job duties of a financial examiner includes -

 

Evaluating and examining bank owned securities, cash reserves etc
Preparing procedural guidelines and policies in compliance with revised regulations
Analyzing the minutes of meetings for directors, stock holders etc
Ensuring legality of financial transactions and operations
Recommending necessary actions complying with laws and regulations
Ensuring that various financial activities conform to regulations
Investigating the activities of financial institutions to remove errors
Maintaining the overall financial integrity of banks and financial institutions

 

Depending on their work roles, financial examiners may specialize as internal auditors, compliance analysts, compliance specialists, compliance officers etc. They work closely with bank directors, accountants, trustees of a financial institution, consultants etc.

 

Educational Qualification & Licensing Requirements
To become a financial examiner, candidates should possess at least a bachelor's degree in accounting or a related field. Besides having an accounting degree, candidates also need to be quite well versed with computer databases and various accounting and auditing software programs to perform their work efficiently. Licensing requirements for financial examiners vary from one state to another. Employers prefer hiring candidates who possess certifications like CPA, CISA etc.

 

Job Outlook
According to the BLS reports, financial examiners occupied around 27,000 jobs in 2008 in the United States. The occupation is projected to show a faster employment growth, as compared to other job positions that require a bachelor's degree. The employment growth for these finance jobs is dependent on the economy situations. Job growth will be driven as the economy gets better more and more. On the other hand, private companies offer good employment prospects for financial examiner jobs.

 

Major Employers
State agencies, federal government agencies and private financial institutions offer good employment opportunities for professionals. Other major employers featuring excellent job prospects include companies that are engaged in security and commodity contracts.

 

Annual Salary
Salaries of financial examiners will vary depending on the employment sector they work in. In the year 2008, these professionals earned a median annual salary of around $70,930. Highest salaries are offered to those who work for employers like federal executive branch, investment pools, Central Bank, commodity industry, securities etc.