If you are looking to start a career or change career paths, you may have started off thinking, "what career pays the most money?" While having sufficient income is important, job stability and happiness are important too.
An accounting career does not always have to lead to being a chief financial officer or tax analyst of a major firm. There are a multitude of clever ways to leverage your accounting degree, so you are not stuck as a traditional accountant.
Every day we see more people working from home as caterers, blog owners, thrift store resellers, wedding planners, and online store owners. They may put every waking hour of their day into their business by creating products and building their brand.
Entrepreneurs can have a low startup cost but have many expenses to track. Various costs may include:
- Website hosting
- Paying contractors for assistance
- Emergency repairs
- Vehicle and driving expenses
- Office supplies
- Marketing costs
- Business club associate fees
They will need someone like you to help them manage their finances and prepare their taxes. As a specialized accountant helping entrepreneurs, they know they can reach out to you to keep them on track and ensure they file taxes properly each time.
Real Estate Property Management
Again, let's think outside of the box. Consider targeting vacation rental apartment owners and homeowners with Airbnb properties. You could also target those that flip homes or purchase distressed properties and fix them. Wholesalers would be another niche group to work with. These individuals need help with balancing their portfolio of properties.
If you are good with numbers and research, being a stockbroker is another great and exciting way to put your accounting degree to use. Many people think finance majors are best in the stock market but that is not true.
Stockbrokers need to be analytical thinkers, be knowledgeable of the economy, and have great communication and decision-making skills. If this is you, consider this option. You do have to keep in mind that you'll need additional licenses and certifications as well to act as a stockbroker. However, some companies would be willing to hire you as an entry-level broker and help you obtain these licenses along the way.
These are just three clever options to leverage your accounting degree. Think of some niche areas you have learned about in accounting school or from friends and family members who may run their own business.
To learn more, contact an accounting school in your area.