Career Opportunities in Accounting
Some careers will require additional education and experience, which
is one reason the College of Business offers a wide variety of internship
opportunities to expand your skills, preparing you for the best opportunities
after you graduate.
The Employment and Salary Outlook
The wage gap is widening between workers with college degrees and those without. Salaries are commensurate with experience and company size. According to 2009 Salary Guide by Robert Half, the accounting major’s annual starting salary at mid-size public accounting firms in 2008 ranged from $41,500 to $51,000 (Based on Bachelor’s Degree level).Potential career fields for those with a Business Administration Degree with a concentration in Accounting include:
- Auditing
- Budget Analysis
- Financial Accounting
- Management Accounting
- Tax
Career Opportunities in Finance
There are two basic career paths in finance. The first is managerial finance, which involves managing the finance function for businesses in the manufacturing and trade industries. These industries make and sell consumer and commercial products. The second is a career in the financial services industry, which creates and sells intangible financial products or services. Banking, securities, real estate, and insurance are all financial service industries.Managerial Finance
- Capital Budgeting Analyst/Manager
- Credit Analyst/Manager
- Financial Analyst
- Pension Fund Manager
- Project Finance Manager
- Property Manager (corporate)
Financial Services
- Banking
- Loan Officer
- Retail Bank Manager
- Trust Office
- Securities
- Financial Planner
- Investment Banker
- Securities Analyst
- Stockbroker or Account Executive
- Insurance Agent/Broker
- Underwriter
The Employment and Salary Outlook
Below are typical entry-level positions available to recent graduates. Advanced positions are available after a number of years work experience and/or an advanced degree. Although many of the top positions in finance are not available to recent graduates, firms frequently hire new graduates as assistants to these positions.
Finance Salaries
| Banking Title / Experience | 2008 Salary Range |
|---|---|
| Commercial Lender (3+ years) | $63,500-91,750 |
| Commercial Lender (1-3 years) | $47,750-72,750 |
| Commercial Credit Analyst (3+ years) | $50,500-77,000 |
| Commercial Credit Analyst (1-3 years) | $39,250-54,500 |
| Mortgage Underwriter | $36,750-50,250 |
| Financial Analyst | $44,500-63,750 |
| Risk Manager | $56,000-75,250 |
| Loan Administrator | $33,500-51,250 |
| Financial Services Job Title | 2008 Salary Range |
|---|---|
| Portfolio Administrator | $44,750-62,250 |
| Trade Settlement/Reconciliation Specialist | $39,000-55,250 |
| Sales Trader/Assistant | $33,250-51,000 |
| Margin/Dividend Clerk | $33,250-51,500 |
| Shareholder/Client Service Representative | $28,000-35,250 |
| Stock Record/Transfer Specialist | $32,250-41,500 |
| Corporate Finance Job Title | 2008 Salary Range |
|---|---|
| Rookie Financial Analyst (Smaller Firms) | $34,500-40,500 |
| Rookie Financial Analyst (Larger Firms) | $38,250-47,500 |
| Seasoned Financial Analyst (Smaller Firms) | $48,500-61,250 |
| Seasoned Financial Analyst (Larger Firms) | $61,000-77,250 |
| Credit Analyst | $39,500-52,750 |
| Derivative Analyst | $51,500-68,000 |
| Controller (Largest Firms) | $126,750-161,500 |
| Chief Financial Officer (Smallest Firms) | $91,000-122,250 |
| Chief Financial Officer (Largest Firms) | $257,500-370,500 |
Note: Add 10 to 15 percent for graduate degrees or professional certification.
(Statistics taken from 2009 Salary Guide, Robert Half.)
