Is having a career in accounting worth it?
We’ve spoken a lot about the many potential benefits that come from a career in accountancy. However, in order to try to be balanced, we’re also going to look at some of the challenges you’ll face in what is still a fulfilling career.
When you choose Accountancy as a career
So, what are the different challenges you might face in an accountancy role?
Occasionally, overtime will be required
Accountancy can be a very seasonal role. Typically, the New Year is very busy, with the tax return deadline occurring at the end of January. Inevitably, there will be a lot of work to do in the run-up to the required return day. The positive flip-side of this is that summer can be very quiet – perfect if you want to take a long holiday.
Some elements of the job can be repetitive
There are certain activities that any accountant will be expected to do almost every day. The chances are you’ll be required to communicate semi-regularly with HMRC – especially if you’re doing client work – and some audit work can involve similar tasks. However, one of the beauties of accountancy as a career is that there are a lot of options: if you find agency work less interesting, for instance, there’s nothing to stop you moving in-house.
It’s a competitive industry
Because accountancy offers so many benefits as a career, candidates working in the industry tend to be quite competitive. If you want to climb the ladder in any company, you’ll definitely need to be prepared to work hard and put the effort in.
You’ll need to be able to handle pressure in terms of detail
Accountancy is definitely not the right career for you if you’re not a details person. Any figures you manage need to be absolutely accurate; the consequences for errors can be substantial. It’s crucial to be comfortable focusing, sometimes for long hours. If that doesn’t sound appealing, accountancy might not be for you.
You’re never done studying
If you love to learn and progress, you’ll love accountancy as a career: professional development and staying ahead of the curve are essential. Obviously, the flip side of this is that if you were hoping for a career where you could graduate and then take your foot off the gas in terms of self-study, accountancy might not suit you.
Get in touch, If you’re interested in studying accountancy, get in touch today. We’d love to hear from you.