Accounting gets a bad rap more often than not – but it’s so much more than math nerds holed up in their offices all day. Read on as we bust some of the top accounting myths.
First things first. What exactly is accounting, anyway?
Accounting is the language of business. Accountants know how businesses work, how they function and how they present themselves to the world... through their financial statements.
Accounting is just for math wizards.
Reality: If you can add, subtract, multiply and divide, you’re good.
Accounting isn’t about being the best math whiz; accounting is about interpreting what numbers and data say. The majority of the math accountants use is basic – and with the help of a calculator.
Accountants only work at accounting firms.
Reality: Every business needs accountants.
Accountants have the unique ability to work in any industry they are interested in because every business needs an accountant. Interested in sports? Every professional sports team needs accountants. Want to work in healthcare? Accountants are needed at hospitals! Interested in owning your own business? A background in accounting will set you up for success.
Accountants just do taxes.
Reality: Many accountants never touch a tax return.
While some accountants do work on taxes, many never touch a tax return that isn’t their own. Instead, they work on budgets, analysis, strategy and more. Basically, there’s a place and path for you in the profession that can meet your interests!
Accountants have low earning potential.
Reality: Accountants have unlimited earning potential.
Not only can you make a great living, the accounting profession is known to be one of the most stable careers. Even accounting interns are making bank: Many interns make $25+ an hour (as college students)!
Average salary ranges* include:
- Corporate:
Staff Accountant: $60k-$90k
Finance Director: $125k-$230k
CFO: $200k-$480k
- Public:
Tax Associate: $55k-$70k
Audit Manager: $90k-$140k
Partner: $160k-$330k
*Average salary ranges are taken from the latest Robert Half guide.
Introverts make better accountants.
Reality: All personality types can thrive in accounting.
Just like any other position in a company, many types of people and personalities are needed in accounting – whether loud or quiet, outgoing or reserved, and more.
Accountants are stuck in their office.
Reality: Many accountants have travel opportunities.
Travel opportunities can be many or few, depending on the role – like to client or corporate locations, conferences, training and more.
Want to learn more about how you could thrive in accounting? Plan your path today.