Times have changed and much has happened in the world of accounting and finance, all of which have contributed to changing job trends and a rapid evolution of an accountant's role in today's workplace. You need to stay alert of what's happening around you and what the future holds. Knowing and understanding the current trend will help tremendously in your career planning.
Job Trends
| | Year 2009 - 1st Half |
| RANKING |
Top 5 Specialization |
| 1 |
Finance - General/Cost Accounting |
| 2 |
Marketing/Business Development |
| 3 |
IT/Computer - Software |
| 4 |
Clerical/Administrative Support |
| 5 |
IT/Computer - Network/System/Database Admin |
| | Year 2008 |
| RANKING |
Top 5 Specialization |
| 1 |
Finance - General/Cost Accounting |
| 2 |
IT/Computer - Software |
| 3 |
IT/Computer - Network/System/Database Admin |
| 4 |
Marketing/Business Development |
| 5 |
Clerical/Administrative Support |
| | Year 2007 |
| RANKING |
Top 5 Specialization |
| 1 |
Finance - General/Cost Accounting |
| 2 |
IT/Computer - Software |
| 3 |
IT/Computer - Network/System/Database Admin |
| 4 |
Marketing/Business Development |
| 5 |
Clerical/Administrative Support |
In terms of job posting numbers, the hard times have not spared accounting and finance jobs as we see a general decrease in the hiring numbers across the country. Even then, these charts (above) showcase the top 5 specializations in demand for each year and clearly, the need for finance/accounting positions have not waned since 2007. The recent years have seen marketing positions moving upwards in ranking but finance positions remain strongly rooted on top. It should also be noted that out of all the jobs posted, 36% of them listed CPA/Professional Qualified Accountants as part of the requirements.
How much are you getting?
Whether you are a fresh graduate or a senior manager, it's also important to know where you stand in terms of salary. Above is our salary report which shows the minimum and maximum pay of each position according to their fields. Typically, executives earn below RM4,000 with managers and senior managers earning up to RM12,000. The difference in the minimum and maximum amount each position level receives varies little in positions which are executive (with differences of up to RM1,500). It only widens at managerial positions where the differences are around RM 5,000 and above.
The Evolution of an Accountant's role:
As businesses go global and transform in light of technological advances, so does the role of an accountant. Where accountants of old were used to a localized business environment, today's accountants have to deal with an increasing demand to be more specialized in a dynamic and global business world.
Yet another interesting development is how an accountant's role has become more strategic rather than operational role. As a result, accountants today are required to be more dynamic, proactive, business savvy, strategic, and possess high business intelligence. All this is a far cry from accountants before where cautiousness and standard routines were common practice.
Conclusion
In a nutshell, would-be accountants today must realize that today's businesses need accountants to be more than merely accountants. They need to be strategic partners in an organization, a valuable arm of the institution capable of addressing issues or problems in creative and flexible means. Companies are still hiring, and those who are CPA/Professional Qualified Accountants will find themselves in a favorable position.
