Sunrise Consultations Group Business Profession Comparison: Accountant and Human Resources Specialist

Business Profession Comparison Accountant and Human Resources Specialist

Sunrise Consultations Group

Business Profession Comparison: Accountant and Human Resources Specialist

Prepared for: Constantine Morgan Undecided Business Student 345 Lambert Road Glen Ellyn, Illinois

Prepared by: Martin Azarias Career Specialist 3948 Island Circle Hanover Park, Illinois

Date: October 21, 2013

October 21, 2013 Constantine Morgan 345 Lambert Road Glen Ellyn, IL 60137

Dear Mr. Morgan: Here is the completed report that you have requested on October 15, 2013. It has a comparison of the two possible careers choices to help you decide on which to choose. Accountant and Human Resources Specialist are the two choices in the business industry youve requested for. The report contains a comparison of the two career choices in terms of career paths, education requirements, work environment, salary expectations, and job outlook. I have also included a recommendation to help you in your decision as well as other sources that you can look at. Thank you for allowing me to compile this report and for choosing Sunrise Consultations Group. I look forward to your decision and wish all the best in your future endeavors.

Sincerely, Martin Azarias Sunrise Consulting Group Career Specialist

Table of Contents

Introduction ..................................................................................................................... 6 Career Paths .................................................................................................................... 7 Education Requirements ................................................................................................. 9 Figure. 1 .................................................................................................................... 10 Work Environment........................................................................................................ 11 Salary Expectations ....................................................................................................... 12 Figure 2. .................................................................................................................... 12 Figure 3. .................................................................................................................... 12 Job Outlook ................................................................................................................... 14 Analysis and Recommendation..................................................................................... 15 Appendix ....................................................................................................................... 16 References ..................................................................................................................... 17

Business Profession Comparison Accountant and Human Resources Specialist

Introduction

The business industry is a diverse place the work in. There are a lot of options and career paths you can choose from and it is easy to get into them with almost any kind of business degree. However, the career options you have chosen are both completely different requirements, especially if you choose to become an accountant.

You have made it clear that you are undecided on which business major to pursue. Being and accountant and human resource specialist will be analyzed and compared throughout this report to provide enough information to where each degree can branch out and help you make your decision.

Having several career paths is a very important factor in your decision between the two. I will provide you with the education requirements needed for both of these careers and other requirements some employers may want from you. I will also provide information about the work environment you might be getting into as well as how much each career pays. Lastly, I will discuss the job outlook of the two so you can be aware which career you would be better off in the long run.

With all this information analyzed, I recommend that you choose the option of an accountant and this report will demonstrate why. Having more career paths is what matters the most and being an accountant can provide it.

Career Paths
Having several career paths for the degree you complete is a nice thing to have. Knowing that your career has several career paths you can pursue can help make your decision easier and can well prepare for it. Accountants and human resources specialists both deal in two different aspects in business. One deals with financial matters while the other deals with recruitment or employee relations.

Accountants are generally found in two main departments: accounting and auditing. You also have the option to work in a tax firm. If you decide to work in the accounting department of an industry, typical job titles would include accounting associate, budget analyst, director of accounting, etc. A day in the life of an accountant includes making sure that records are in order, taxes are paid, as well as provide financial advice. In the auditing side of accounting, your job is to make sure that companies follow the rules and regulations that the government requires. You also act as a detective to make sure that companies arent being frauds when they prepare their statements. Auditors typically work for the government and usually hold the title of government auditors or internal auditors. In the long run, with the right amount of experience, you can open up your own accounting firm. (Struyk, 2011)

Human resources specialists play an important role in a company because they recruit future employees that would help the company progress. Choosing this degree would most likely end up in the human resources department. Typical job titles in this department include recruiter, payroll specialist, training and development coordinator, etc. A day in the life of a human resources specialist include interviewing and hiring job

candidates, answering employee questions about benefits and compensation, and make sure they have the proper paperwork. (Building Your HR Career Path, n.d.)

Education Requirements
Accountants and Human Resources Specialists both have different requirements in order to get into the workforce. You will have to complete more requirements in order to being an accountant compared to becoming a human resources specialist because of the kind of work they do.

If you choose to become and accountant, you typically need an accounting degree and pass the Certified Public Accountant examination. In order to become one, you need at least 150 credit hours completed at a university. Since most bachelors degrees are at minimum 120 credit hours, youd have to go on to get a masters degree or take extra classes. Its preferred that you have a degree in business because the examination requires a specific number of business and accounting classes. (Accounting CPA Requirements, n.d.). You can take other licensure examinations other than the CPA exam like the Certified Management Accountant (CMA), Certified Financial Manager (CFM), and many more to widen your career paths.

If you choose to become a human resources specialist, you typically need a bachelors degree in human resources management or just an undergraduate degree in general. Some get their degrees in business or public administration. Work experiences plays an important factor when it comes to getting hired in the workforce. Although it isnt really required to have a bachelors degree, you will need it if you want to advance your career and get promoted. There are several certifications as well in this career that can be found on the HR certification institute website.

Figure. 1 Requirement Bachelors Masters Licensure Accountant Yes Yes for Licensure Yes for better jobs HR Specialist Required to advance career Not required Not required

Accounting Coach [Accounting CPA Requirements], n.d.

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Work Environment
Accountants and human resources specialists have similar work environments. They both work in offices and are full time employees. Work attired is usually business casual.

Accountants work in a very fast paced and detailed oriented workplace. Work hours are usually 40 hours a week, 45 hours if you work in a public accounting firm, and 55-80 hours during busy tax seasons. (A day in the life of an accountant, n.d.)

Human resources specialists also work in a similar workplace but they also attend job fairs, college campuses, and manage other recruiting events outside of the office. They usually work 40 hours throughout the year.

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Salary Expectations
One thing to consider when choosing a profession is how much it pays. Although it is recommended that you pursue a degree that you are most passionate in, you should also try to think about todays economy and being practical is key. Accountants and human resources specialists both pay pretty well and ensure that youd live comfortably.

Accountants with the proper licensure (CPA) made an average of $62,850 per year in the year 2010. The lowest 10% made around $39,640 while the highest 10% made around $109,870 (Gay, n.d.). Figure 2. Salary Range 2011 for Accountants 75th Percentile Median 25th Percentile Gay [Accountant], n.d. $83,210 $62,850 $48,920

Human resources specialists made around $54,310 per year in the year 2010. The lowest 10% made around $29,850, while the highest 10% made around $94,700. (Moeller, n.d.) Figure 3. Salary Range 2011 of Human Resources Specialists 75th Percentile Median 25th Percentile $73,490 $54,310 $39,960

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Accountants do make a bit more in starting salary compared to other business professions because of the extra requirements it demands in order to be certified.

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Job Outlook
The job outlook for both professions both will grow in the next two years. This is also a factor youd want to consider because its good to have a secure job in the years to come without worrying of being laid off. Its also going to be cheaper in the long run because you wouldnt need to go back to school if you find out in the end that there arent any jobs for the degree youve finished.

The accounting profession expects to increase by 16% in the next 10 years. Jobs available for accountants in 2010 were 1,216,900 and its expected to grow up to 1,407,000 jobs by the year 2020. Competition in this profession is very strong, especially in the bigger firms, so having the proper certification would be a great way to market yourself in the industry (Accountants and Auditors, 2012).

The human resources profession expects to increase by 21% in the next 10 years. Jobs available for human resources specialists in 2010 were 442,200 and it is projected to be 532,900 by the year 2020. One thing to consider is that companies are slowly starting to do recruiting online that in person. Increase in software in this industry can do jobs more efficiently. However, opportunities should still be in your favor as long as your have complete knowledge of different programs, employment laws, and information systems (Human Resources Specialist, 2012).

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Analysis and Recommendation

This report was done to provide a comparison between the two professions: accountant and human resources specialist. They were both compared in the areas of career paths, education requirements, work environment, salary expectations, and job outlook. They both are very similar when it comes to work environment, but they differ when it comes to the other areas we compared them with.

With all the information gathered in this report, I recommend that you consider getting a degree in accounting and take the licensure exam to become a certified public accountant. Although it would take at least 5 years in school, it should pay off in the end because of the salary expectations and job outlook. With an accounting degree, you can take several other examinations that can open the doors to more career paths which is one of the most important factors in your decision between the two career options.

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Appendix

1. Accounting Coach - Careers http://www.accountingcoach.com/careers/ 2. CPA Exam Requirements http://www.cpaexam.com/cpa-exam-requirements/#.UmX6lSTwxJ8 3. Accounting Certifications http://www.accountingmajors.com/accountingmajors/articles/certifications.html 4. HR Institute Certification http://www.hrci.org/ 5. Monster - Jobs http://www.monster.com/ 6. Linked in http://www.linkedin.com/

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References

Accountants and Auditors. (2012, August 31). Retrieved October 21, 2013, from Bureau of Labor Statistics website: http://www.bls.gov/ooh/business-and-financial/ accountants-and-auditors.htm#tab-6 Accounting CPA Requirements. (n.d.). Retrieved October 21, 2013, from Accounting Coach website: http://www.accountingcoach.com/careers/cpa-requirements.html A day in the life of an accountant. (n.d.). Retrieved October 21, 2013, from Career Explorer website: http://www.careerexplorer.net/day-life/day-life-accountant Building Your HR Career Path. (n.d.). Retrieved October 21, 2013, from All Business Schools website: http://www.allbusinessschools.com/business-careers/article/building-your-hr-career-path Gay, C. (Ed.). (n.d.). Accountant. Retrieved October 21, 2013, from U.S. News website: http://money.usnews.com/careers/best-jobs/accountant Human Resources Specialist. (2012, March 29). Retrieved October 21, 2013, from Bureau of Labor Statistics website: http://www.bls.gov/ooh/business-and-financial/ human-resources-specialists.htm#tab-6 Moeller, P. (Ed.). (n.d.). HR Specialist. Retrieved October 21, 2013, from U.S. News website: http://money.usnews.com/careers/best-jobs/hr-specialist Struyk, T. (2011, August 23). A Look At Accounting Careers. Retrieved October 21, 2013, from Investopedia website: http://www.investopedia.com/articles/financialcareers/08/accounting.asp

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