The present landscape of public accounting jobs in the USA is robust and dynamic. Every Industry in America ranging from finance to healthcare rely on skilled public accountants for accurate financial reporting, auditing, and advisory services. Hence, this is leading to a huge demand for accountants in the United States!
Statistics and Figures from AICPA and BLS on the Accounting Job Landscape:
According to the AICPA, approximately 75% of current accountants in public accounting are projected to retire within the next 15 years. This impending scarcity arises from several contributing factors, including the imminent retirement of the baby boomer generation, a reduction in the enrollment of undergraduate accounting majors, and the escalating intricacy of the accounting field.
The Bureau of Labor Statistics projects a significant increase in demand for accountants in the coming years, as per the data derived by them, employment of accountants and auditors is projected to grow 6 percent from 2021 to 2031, about as fast as the average for all occupations. Hence, this is a prime time to consider pursuing a career in accounting. According to their predictions, the workforce will require new accountants annually to meet the growing demand.
Benefits of Pursuing an Accounting Career in the USA:
High Earning Potential and Competitive Salaries: The USA offers a lucrative landscape for accountants, with competitive salaries that reflect the importance of accounting expertise in the business world, especially amid the prevailing shortage of accountants in the US. Due to this, they can expect to earn a starting salary of $60,000+ (INR 50,00,000). This reflects their critical role in financial management, analysis, and decision-making processes across various industries.
Job Stability: Since the demand is soaring and the availability is less, the need for accountants in the US will remain resilient in the coming years. Businesses rely on the expertise of accountants to maintain accurate financial records, ensure compliance, and provide strategic insights. This inherent need for accounting oversight translates to a consistent demand for accounting professionals, offering job security even during uncertain times.
Long-Term Career Prospects: The US accounting field presents a pathway to long-term career growth. Starting from entry-level positions, individuals can progress through various stages of their careers, such as becoming senior accountants, controllers, or even CFOs. This trajectory is backed by the constant requirement for accounting expertise and leadership roles within organizations.
Pathways to Launching Your Accounting Career in the US with Miles Education:
While the scarcity of accountants may appear daunting, it presents a significant opportunity for those aspiring to embark on an accounting career in the US. This holds particularly true for Indian accountants seeking careers abroad. Recognizing the demand for skilled accounting professionals in the USA, Miles Education has crafted its US pathway. The pathway is actively facilitating its accomplished alumni in securing prominent jobs within leading American accounting firms.
Becoming a part of the Miles alumni community assures accounting jobs in the US along with a 3-year work permit and starting salary $60,000+ (INR 50,00,000). Additionally, we regularly organize placement drives, enabling both enrolled and non-enrolled candidates to connect with top-tier public accounting firms in the US, thus offering valuable placement assistance.
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