Monty Python had a skit about an accountant who went to see a vocational guidance counselor because he wanted to change careers. The counselor had a few ideas in mind but the accountant wasn’t listening. His mind is set on a new career path.
It turns out he wanted to be a lion tamer!
Now, you may not want to be a lion tamer but you might be thinking about switching careers. Here are some career paths where you can still use some of your accounting skills.
Financial Translator
There is an increased demand for the services offered by translation companies today. That’s the result of an interconnected world where borders offer little restriction for doing business. As an accountant, you are uniquely positioned to become a financial translator.
A financial translator converts reports, audits, and other financial documents from one language into another. Because business and finances are international by nature, there is always a need for the services of a translation company in the finance industry.
For this field, you can work in a translation company or you can work on your own. But working under a translation company will give you more opportunities.
Translation companies where you can start your career:
Ecommerce Entrepreneur
As an accountant, you would know that one of the best ways to attain financial independence is to have a successful business. But being an accountant also means you know how difficult it is to build a successful business on your own.
The rise of e-commerce gives you an opportunity to start your own business with less risk compared to a traditional business. You can also start an e-commerce business with a smaller capital. Another thing to consider is that it is possible to run e-commerce wherever you are located. You can be a digital nomad/entrepreneur.
Right now, it is estimated that there are 2.14 billion e-commerce buyers. That’s a very large market and all you have to do is find the right products to sell ( easier said than done but that’s another topic).
In establishing your e-commerce business, you can definitely use your accounting skills. You would know which competitors to check out, you can make a sound estimate of possible costs. But the biggest advantage you have as an accountant is that you can create your own business plan.
As an accountant, you might have helped other entrepreneurs to create their own business plans, so it’s about time you created your own.
Best e-commerce platforms to get your business started:
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- BigCommerce
- Shopify
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Financial Advisor
There is a great demand for financial advisors because of the increased financial literacy. More and more people are seeking professional advice as to what they will do with their money.
A study suggests that a $1 million retirement fund will only last for 19 years. That means when you retire with a million dollars when you’re 65 years old, your money will only last when you’re 84, when you can no longer work and you probably have to spend a lot on medicine.
People are really pressured that they handle their finances really well. As an accountant, you are uniquely positioned to offer sound financial advice to people. You can tell your clients where to invest their money and how much to invest and your advice will be based on facts and your professional knowledge.
You can create a financial plan for each of your clients that has been personalized based on their situation and status. Just because you create a plan for your client doesn’t mean that your service is done. As a financial advisor, you will have to check on them regularly to check on their status.
Companies where you can start your career as a financial advisor:
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- BlackRock
- Vanguard
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Business Analyst
A business analyst uses data to help guide a business in making decisions. A business analyst will give recommendations for changes in the organization and the model followed by a business.
Business analysts look for aspects of a business process that can be improved and made more efficient. The financial side of the business is just one aspect that a business analyst will work on but as an accountant, you will be well trained when it comes to analyzing processes. It’s a common misconception that accountants deal solely with numbers when in reality their work is mostly about analysis.
Companies where you can start your career as a business analyst:
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- Travelers
- Cisco
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Fraud Investigator
If you want a career path with a bit more excitement, then you can consider becoming a fraud investigator. Fraud investigators identify and help prevent fraudulent activities from happening. The analytical skills you developed as an accountant can really come in handy when tracing back fraudulent activities.
Companies where you can start your career as a fraud investigator:
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- Capital One
- J.P. Morgan
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These are just a few of the alternative career paths that you can explore if you want to switch away from accounting. The skills and knowledge you gained as an accountant can come in handy in these fields too.
These career paths can also open up a global career path since these jobs can be done remotely as freelancers, consultants, or even digital entrepreneurs.
Bio: Christian Ray Pilares is a professional writer who has been writing about legal, financial, and language-related topics for ten years now.
