By Jeremy Morris, Associate Business Editor, US Daily Review.
Though the national unemployment average is still hovering around eight percent, for those in the finance and accounting field it’s much lower, according to data from the Bureau of Labor and Statistics. In fact, accounting has remained one of the strongest job growth areas through the recession and recovery. As a new crop of college graduates gets ready to enter the workforce, those with a degree in accounting or finance are well positioned to succeed in their job search.
According to Accounting Principals’ research and observations, financial analyst is the top entry-level finance or accounting job for new graduates. With a median salary of $49,700 – $51,000, these professionals are always in demand by investment banks, insurance companies, and asset management firms. In addition, public companies are always looking for financial analysts who can forecast growth and prepare quarterly financial statements.
Accountants are another top entry-level position for new grads in the finance field. The still-unstable economy and increasingly complex accounting regulations have spurred the need for these professionals in recent years. In addition, accounting is a must-have back office function, and therefore an in-demand field in both a strong and weak economy. The median annual salary for this position is $45,000-$55,000, according to Accounting Principals’ 2012 Salary Guide.
“The current economic climate—filled with increasing regulation and scrutiny—means that finance and accounting professionals are more valuable to companies than ever before,” said Mike McNamara, vice president of Accounting Principals. “Entry level candidates with expertise or interest in this field should take advantage of this current demand to find a job that will utilize their talents while giving them the opportunity to grow professionally.”
For high school graduates or college students interested in a finance career, but unsure if it’s the right path for them, pursuing a job as an accounts payable/receivables clerk is a great introduction to the field. These professionals are in high demand because of the essential role they play in any business operation. They provide the support that ensures administrative and financial operations function effectively, accurately, and efficiently. Job seekers interested in this field can expect a median starting salary of $34,600 – $35,200.
A full list of Accounting Principals’ Top Entry Level Finance Jobs includes:
- Financial Analyst
- Accounts payable/receivable clerk
- Credit Analyst
- Mortgage Underwriter
“Accounting and finance is often considered the backbone of a business, and as financial regulations continue to mount, so will the need for qualified finance and accounting talent,” said McNamara. “New grads who begin their careers in corporate finance will quickly learn how this function supports company operations and helps drive business growth, positioning them well for success in any role they choose during the course of their careers.”