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published: 05 Jun 2024 in Work

Working in accounting – 3 pros and cons

Kamila Brzezińska
Kamila Brzezińska

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Accounting is often regarded as the backbone of business, providing critical financial insights that inform decision-making and strategic planning. For those considering a career in accounting and wishing to make an informed decision, this article will explore three benefits and disadvantages of working in accounting.
Photo by Sumudu Mohottige on Unsplash

Photo by Sumudu Mohottige on Unsplash

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PROS OF WORKING IN ACCOUNTING


1. High demand and job stability for accountants

The demand for accountants remains consistently high across various industries. Every organization, regardless of its size or sector, needs accounting professionals to manage finances, ensure compliance with regulations, and provide financial insights. This demand translates to job security, making accounting a stable career choice.

Accounting is considered a recession-proof profession. During economic downturns, businesses and individuals still need to manage their finances carefully, often increasing the demand for accountants to help navigate financial challenges. This resilience makes accounting a reliable career path even in uncertain economic times.


2. Career and professional development opportunities

Accountants have a wide range of career opportunities available to them. From public accounting and corporate accounting to roles in government agencies and non-profit organizations, the possibilities are vast. Additionally, accountants can specialize in areas such as tax, audit, and management accounting, which empowers career growth and specialization.

What is more, accountants have the opportunity to pursue various certifications and advanced degrees to enhance their qualifications. Certifications such as Association of Chartered Certified Accountants (ACCA), Certified Public Accountant (CPA), Certified Management Accountant (CMA), and Chartered Financial Analyst (CFA) can open doors to higher-level positions and increase earning potential. Additionally, pursuing advanced degrees such as a Master of Business Administration (MBA) can further boost career prospects.


3. Competitive salaries and benefits

We would be amiss to talk about accounting without mentioning one of its most important aspects – the numbers. Or, in this case, the number you can expect to see on your pay slip.

Accountants often enjoy competitive salaries that reflect their expertise and experience. According to the Hays Poland Raport Płacowy 2024, the average monthly salary for an accountant in Poland was 9000 PLN, with top earners making 12000 PLN on average. This financial reward can make the rigorous educational and certification requirements worthwhile.

Moreover, many accounting firms and companies offer performance-based bonuses and incentives. These additional financial rewards recognize and motivate high-performing employees, providing extra motivation and a sense of accomplishment.


CONS OF WORKING IN ACCOUNTING


1. High stress and long hours

Accounting professionals often face intense workloads. This is especially true during peak periods such as the month-end close – in Poland usually known under a simple term closing – or the end of the fiscal year. The pressure to meet deadlines and ensure accuracy can lead to long hours and significant stress.

Another potentially stressful aspect of the job is the high level of responsibility. Errors in invoices, payments, financial reporting, or tax filings can have serious consequences for businesses and individuals.


2. Work-life balance challenges

The abovementioned stress and prolonged working hours make for a demanding work environment. This, unfortunately, can take a toll on our physical and mental well-being. Maintaining a work-life balance can be challenging for accountants, particularly those working in public accounting or during busy seasons. Overtime can impact our personal life, making it difficult to find time for family, hobbies, and relaxation. This imbalance can lead to burnout and job dissatisfaction.


3. Monotony and limited creativity

There is no getting around this – many accounting tasks are routine and repetitive, involving data entry, reconciliations, and financial statement preparation. The repetitive nature of these tasks can lead to boredom and a lack of job satisfaction for some individuals, especially those who prefer dynamic and creative work environments.

What is more, creativity is precisely the one thing that every accountant should steer clear of, as accounting is a field that requires strict adherence to rules and regulations. Therefore, those of us who thrive in creative and innovative environments may find the structured and rule-based nature of accounting work to be quite restrictive and uninspiring.


The closing balance – should you work in accounting?

There is little doubt that a career in accounting offers numerous advantages, including job stability, competitive salaries, and opportunities for professional growth. However, it also comes with challenges such as high stress levels, repetitive tasks, and a lack of creativity. Understanding these pros and cons can help us make a more informed decision about pursuing a career in accounting. For those who thrive in structured environments, enjoy working with numbers, and seek a stable and rewarding career, accounting can be an excellent choice. However, it is important to be aware of the potential drawbacks and prepare for the demands of the profession.

In the end, it comes down to our personal interests and career goals – after all, there is no accounting for taste.

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