2024 In-Demand Finance and Accounting Roles and Hiring Trends (2024)

FAQs

What is the job outlook for finance jobs in 2024? ›

The demand for skilled talent in finance and accounting remains high in mid-2024. That means employers must intensify their efforts to hire and retain both long-term and short-term talent if they want to meet their hiring goals in the months ahead.

Technology is transforming the accounting profession. Automation, artificial intelligence and cloud solutions have changed traditional accounting processes.

Job Outlook

Employment of bookkeeping, accounting, and auditing clerks is projected to decline 5 percent from 2023 to 2033. Despite declining employment, about 174,900 openings for bookkeeping, accounting, and auditing clerks are projected each year, on average, over the decade.

Job Outlook

Employment of accountants and auditors is projected to grow 6 percent from 2023 to 2033, faster than the average for all occupations. About 130,800 openings for accountants and auditors are projected each year, on average, over the decade.

As hiring and job growth returns to normal levels and unemployment rates no longer see significant increases, the 2024 job market will look to be one that job seekers and employers alike can look forward to.

Healthcare support occupations and healthcare practitioners and technical occupations are projected to be the two fastest growing occupational groups, adding a combined 2.3 million jobs, about 1 in 4 new jobs.

It's clear that the role of the accountant will continue to evolve into 2024 and beyond, with more strategic decision-making required as computers take over the day-to-day calculations. Ensure processes lean into this by giving a platform to client feedback, and empowering your accountants to use their voices.

Research from the World Economic Forum also agrees that accounting professionals, in the capacity that they serve right now with a few people, are heavily decreasing in demand heading into 2025 largely thanks to the improvement of technology: Want proof of this automation in action?

The Big Three is one of the names given to the three largest strategy consulting firms by revenue: McKinsey, Boston Consulting Group (BCG), and Bain & Company. They are also referred to as MBB. The Big Four consists of the four largest accounting firms by revenue: PwC, Deloitte, EY, and KPMG.

The rise of automation, artificial intelligence (AI), and machine learning is transforming the accounting profession. Many routine tasks, such as bookkeeping and data entry, are being automated, leading to concerns that fewer entry-level jobs will be available for new graduates.

What is the future job outlook for a financial accountant? ›

The U.S. Bureau of Labor Statistics (BLS) projects employment of accountants and auditors to grow 4% from 2022 to 2032, with about 126,500 job openings each year, on average, over this period. This growth is projected on a national level and local growth will vary by location.

With the right amount of experience, being a certified public accountant can mean an eventual position as a chief financial officer (CFO) or a highly-paid tax accountant. A CPA's salary usually reaches the high five figures while senior CPAs in management can earn a six-figure salary.

The Benefits of Working in Finance

The U.S. Bureau of Labor Statistics (BLS) projects that business and finance jobs will be in demand from 2022 to 2032, with 911,400 openings on average each year.

The future of finance and accounting involves minimizing human interference in tasks that can be automated. Senior executives and human resources must lead the change and encourage employees to develop the competencies and mindset that will prepare them for finance transformation and the digital world.

Yes, a finance major is a good major for many undergraduate students. The Bureau of Labor Statistics is projecting 5% job growth in business and financial occupations over the next 10 years. Financial advisor, budget analyst, and investor relations associate are some common careers in the field.

Global growth is projected to be in line with the April 2024 World Economic Outlook (WEO) forecast, at 3.2 percent in 2024 and 3.3 percent in 2025. Services inflation is holding up progress on disinflation, which is complicating monetary policy normalization.

Overall employment in business and financial occupations is projected to grow faster than the average for all occupations from 2023 to 2033. About 963,500 openings are projected each year, on average, in these occupations due to employment growth and the need to replace workers who leave the occupations permanently.

As finance organizations become flatter and more dependent on technology, traditional career paths will become less linear. Those paths might even extend outside of Finance. Instead of moving from a contributor role in accounts receivable to a management role in accounting, a future career might evolve circuitously.