Study finds accounting still hot
Accounting has been named the most profitable industry in 2016. The rank was assembled by Sageworks, a financial software company, which collects financial information on the private sector by aggregating data from large accounting firms.
In an analysis of privately held accounting-related organizations that included accounting, tax preparation, bookkeeping and payroll services companies, Sageworks found these to be the most profitable. Net profits of these businesses totaled 18.3 percent of sales on average, based on financial statements for 12 months ending June 30th, according to Sageworks’ research specialist Mary Ellen.
For context, accounting finished ahead of legal services and real-estate. You’ve known it’s been a good time to be in accounting for a while now, but perhaps you didn’t know just how good. And it’s nothing new. These businesses also scored at the top in 2014 and 2015, making this one of the best times ever to be an accounting professional.
You can read more about the report via Michael Cohn of AccountingToday.com.
What This Means for You
Accounting professionals have a wealth of options available to them. In a city like Cincinnati, the opportunity is even greater. There are accounting-related positions with companies of all sizes, private and public, in need of talent like yourself. And it’s a candidate’s market, meaning the time is ripe to get exactly what you want out of your career.
Businesses all over the city have openings, but not all of them are listed on the major job boards. If you’re a finance or accounting professional, you should know about them. Those interested in maximizing their earning potential, or simply finding a more optimal work-life balance, should consider connecting with an accounting & finance recruiter.
Interested in finding out what Cincinnati accounting professionals are being paid relative to the rest of the country? Click here.