There is great news for accounting students!
Salaries for accountants are anticipated to rise in 2016 approximately 2.4 percent, based on a 2016 Salary Guide by the recruiting firm Accounting Principals. The article states the increase will be closer to 5 percent over the next several years due to the high need for accounting professionals – supply and demand is at work in the economy!
This release was analyzed by the U.S. Bureau of Labor Statistics. It reviews the data to determine the highest projected job growth in the industry. The results found among the expanding accounting jobs through 2022 are expected to be accounts payable and receivable specialists (15 percent), staff accountants (13 percent) and bookkeeping, accounting and auditing clerks (11 percent).
A higher starting salary results with additional skill sets. These skill sets can be in terms of IT competence paired with accounting experience, additional business understanding or a second language. Employers are gaining confidence in their rising profits and are investing it in their employees.