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Job Outlook in the Finance and Accounting Sector Is Strong
March 13, 2007
by Francine L. Huff
Business Programs Columnist
The field of finance is hot right now and the job outlook is expected to stay strong, making this an ideal time to get started on a finance or accounting degree that can help you break into this lucrative field. The number of jobs in finance and insurance are expected to grow 8.3% by 2014, according to the Bureau of Labor Statistics (BLS). Jobs in securities, commodity contracts, and other financial investments are expected to increase 15.8 percent by 2014. Accounting jobs are expected to grow faster than the average for all occupations, reports the BLS.
Baby Boomers Need Help With Finances
So what's driving growth in the finance field? More baby boomers are nearing their peak savings years and looking for help managing their money. Also fueling growth in this industry is an increase in credit intermediation and related services (including banks), which are expected to see employment grow 5.4 percent by 2014 and add a third of all new jobs in the finance and insurance area, according to the BLS.
Accounting Majors in Demand
For the accounting profession these are definitely boom times. People with an accounting degree--specifically, a bachelor's degree in accounting--were expected to be the most sought-after graduates in 2007, according to a National Association of Colleges and Employers survey. Economics and finance majors were in the number 10 spot. According to the survey, public accounting, commercial banking, petroleum and allied products, and utility firms are the employers most interested in accounting majors.
Strong Earnings Potential
Financial jobs can pay well, especially if you find one that offers bonuses and other perks. Accounting, finance, and banking professionals earned an average salary of $60,125 in 2005, according to the 5th Annual CareerBank.com Salary Survey Report.
If you enjoy working with money and investments, a finance or accounting degree can help you get started on the path to an in-demand career. Choose the right online or on-campus degree program for your goals.
Sources
About the Author
Francine L. Huff is a freelance journalist and the author of The 25-Day Money Makeover for Women. She has appeared on a variety of TV and radio shows.
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