With a bachelor’s degree in business administration, you can choose from among many different career paths. One of the most popular fields in business administration is finance. A finance career is an ideal path because it offers relatively high-paying and stable job opportunities. Yet a career in finance is not one single path; there are many different directions in which you can go. Three excellent career choices in finance are:
- Auditor
- Analyst
- Accountant
What is a financial auditor?
A financial auditor is responsible for examining the financial records, statements, and documentation of an organization to ensure accuracy, compliance with regulations, and adherence to accounting standards. Their main objective is to assess the financial health and integrity of the organization. One of an auditor’s major responsibilities is to ensure a company’s financial statements comply with the generally accepted accounting principles (GAAP).
Some of the day-to-day duties for financial auditors is to perform audits, evaluate internal controls, identify financial risks and irregularities, and provide recommendations for improvement. Financial auditors may work in public accounting firms or within the internal audit departments of companies or government agencies.
What is the average salary for a financial auditor?
According to ZipRecruiter, the average salary for a financial auditor is $73,791. This data was collected at the time this article was published.
What is a financial analyst?
A financial analyst conducts financial research to provide insights and recommendations for companies to make informed investment decisions, financial plans, and risk management decisions. They perform their research by looking at market trends, economic factors, company financial statements, and industry performance.
As a financial analyst, you may also develop financial models, prepare forecasts, monitor financial performance, and communicate findings to stakeholders, such as senior management or clients. There is flexibility to work in various sectors, including banking, investment firms, corporations, and consulting companies.
What is the average salary for a financial analyst?
The median annual salary for a financial analyst is $95,570 according to the Bureau of Labor Statistics. This data was collected in May 2021 for financial analysts.
What is a financial accountant?
Another career path in finance is that of a financial accountant. Financial accountants are responsible for recording, analyzing, and reporting financial transactions of individuals, businesses, or organizations. They maintain financial records, prepare financial statements, and ensure compliance with accounting principles and regulations.
The daily routine for accountants usually include tasks such as bookkeeping, payroll processing, tax preparation, and financial statement analysis. They may also guide financial strategies, budgeting, and cost control. As an accountant, you could work in a variety of different companies including public accounting firms, corporate finance departments, government agencies, or as independent professionals serving multiple clients.
While accountants may sound similar to auditors and the two professions are often confused for each other, they are different jobs. The main difference is that auditors verify the accuracy of financial statements and tax filings, whereas accountants work on the day-to-day bookkeeping and prepare and file tax forms. Auditors and accountants may work closely together when there is a case of figures not adding up in financial statements.
What is the average salary for a financial accountant?
According to Indeed, the average salary for a financial accountant is $71,706. This data was collected at the time this article was published.
Pursuing a Bachelor’s Degree in Business Administration
If you’re looking to pursue any of these career paths in finance, you’ll need a bachelor’s degree to get started. Pacific Oaks College’s B.S. in Business Administration program provides a broad background of practical business knowledge to jump-start your financial career. With both in-person and online learning available, this program offers the flexibility you’ll need to complete your degree.
