By: Chris Carlson
The stock market isn?t the only market worth watching these
days. Tenured professionals and those now entering the ?real
world? can find tremendous value in keeping tabs on the
employment market and understanding shifting employment trends.
Just as understanding the stock market can help investors make
financial decisions, understanding the job market will help
professionals make career decisions.
According to The Bureau of Labor Statistics (BLS), three of the
top eight professions expected to experience above-average
growth during the next decade include accounting, information
technology, and management. Combined, these professions are
expected to add approximately 1 million new jobs to the market
by 2014. Other professions tapped for growth include nursing,
nursing aides and orderlies, postsecondary teachers, and
elementary school teachers.
High earning potential and new online degree resources make jobs
in accounting, information technology, and management more desirable
than ever. But what?s the reason behind the surge in these
industries and what does this mean for those currently in the
The BLS reports that employment of accountants and auditors is
expected to grow faster than average for all occupations through
the year 2014. To meet the demand, according to an aol.com
article, the American Institute of CPAs cites 11 percent more
accounting degrees were awarded in 2003 than the previous year.
A 2005 salary survey by the National Association of Colleges and
Employers reported that these degreed accountants could expect
starting earnings averaging $42,940 a year.
The hype surrounding accounting in recent years can be
attributed to several factors: Primarily, accounting scandals
flooding the news, including the collapse of Enron and the
subsequent demise of Arthur Anderson, sparked interest in the
field, while the creation of the Sarbanes ? Oxley Act in 2002,
stemming from said corruptions, increased the demand for
well-trained accountants and created new jobs.
The media generated interest in accounting helped to highlight
the important role accountancy plays in business and the
profession has started to look sexy, dangerous and challenging
says Eva Rosenberg, MBA, EA, publisher of TaxMama.com, and
author of ?Small Business Taxes Made Easy?.
To capitalize on the surge, universities expanded their
accounting programs and began offering more online resources to
accommodate the working professional who is only able to take
The technology industry continues to grow as does the number of
individual fields that require highly skilled information
technology (IT) professionals. Fast-growing fields such as Web
design and development, systems engineering, and database
management connect driven cyber-savvy professionals to the
digital world and opportunities that are exciting, cutting-edge
A 2004 report indicated that median annual earnings of computer
systems analysts were $66,460 and the highest 10 percent earned
more than $99,180. Since computing is here to stay, with an
estimated 357,000 new IT jobs projected by 2014 according to the
BLS, the demand for qualified professionals continues to soar
making well educated IT professionals worth every penny.
More and more IT professionals are taking advantage of
certificate programs and online classes to learn additional
technologies and continue their education. As Web-based
classrooms become more advanced more schools become accredited
and are accepted by employers making it easier for working
professionals to get a quality education without disrupting
their existing careers.
Executives at the top of their field are among the highest paid
workers, according to the BLS?s Occupational Outlook Handbook,
and employment growth for top executives within professional,
scientific, technical, administrative, and support services is
expected to be much faster than average.
This is good news for those intrigued by all things business and
addicted to ?The Apprentice?. Climbing the corporate ladder
appeals to many, but how do you get to the top? According to
David A. Wilson, president and CEO of the Graduate Management
Admission Council, an extensive formal education, specifically
study toward an MBA, can help one achieve success. Often, the
reward of one?s education comes in the form of career
advancement and then mobility.
Advanced study is especially impressive in the boardroom and MBA
earners are consistently courted by corporate bigwigs. ?In an
era where people don?t stay with a company or job track for
their entire career, the MBA allows them to take control of
their career and change course when they want or need to,? says
Although the boardroom is usually accompanied by long hours,
extensive travel, and intense pressure, salaries are often in
line with such hard work, experience and educational attainment.
What it All Means
As interest in Accounting, Information Technology and Management
increases, so does the opportunity for advancement through
educational means. Take advantage of the online resources and
Web courses offered to ensure the salary and position you desire
is available for you.