My nephew has expressed interest in becoming an accountant and wants to have a chat with me about what the career and lifestyle is like. Part of me wants to yell "DON'T" but I'd rather give him a fair chance to make up his own mind. That being said, what advice would you give to a young adult considering a career in accounting? Would you steer them in any particular direction?

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The Cons: You will see people making or losing tons of money. The money won’t be yours.

The Pros: You make money either way.

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I'm going to answer assuming their pedigree doesn't qualify for a banking/management consulting role. I'm also assuming they will go Big4 for accounting. Having a good understanding of accounting will serve you in any business capacity. Having a couple years in public accounting is a great way to professionalize a college graduate. I've seen a lot of talented people use the experience as a launch pad for many different career paths. If you're not sure what path you want to take and you have a general interest in accounting/finance, it's a great way to develop without getting pigeon holed. So many of the skills are transferable. I say this as someone that started in accounting in 2011 and is looking back at his cohort.

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I’m making six figs at 26 in LCOL. Just got early promoted to manager. A lot of people my age can’t say that. I don’t think accounting is bad- I think there’s a lot of opportunity with obtaining an accounting degree. You can take many paths in your career once you have an accounting degree

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I would tell them to go for it. I know a lot of people in our profession like to dog on it but I, even as an auditor - the lowest paid service line, make more than 95% of Americans my age. And I didn’t go to some fancy or expensive school.

I work a lot in Q1 but you can’t beat the flexibility and wlb outside of busy season, and there is a very clear path upwards

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Exactly

I’d try to have them talk with partners or mid-high level positions in industry. Also, try to see if they can get real world experience in some capacity.

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Advice: protect your brain 🧠

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Does your nephew show an interest or passion that might align with another industry or occupation?

I would be fair about the profession. It is a large umbrella after all. There are roles you can find that utilize accounting with a modest work life balance that might be a great fit for your nephew’s potential talent and life goals.

However, if you can expand his vision for what he might pursue, that is probably what you should try to do.

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Thank you everyone for the insight, this is so great! I'll probably have him read through this after we talk :)

My older sister is a nurse. I never had the heart to be around sick people. Took some business classes. Enjoyed accounting and just went for it. Almost 4 years ago, my baby sister was taking science classes to follow my older sisters footprints. Got a part-time job at a hospice. Would cry her eyes out every time someone passed. She became almost depressed seeing elderly being abandoned by their families.

Turns out she didn't have the heart either. She took some business classes. Started asking me about accounting. Now, 4 years later, she has done a few internships and is starting full time in January.

I didn't sugar coat it for her. Told her the good and bad. She made her own decision after I asked her to do research.

Tell him he should invest out his effort into getting into a better university that’s a target of actually good business jobs

“Actually good business jobs” lol

Becoming an accountant was my best move ever! I started out as a staff accountant making like $20K per year in the 80’s. Now I’m a Controller making 6 figures and I have my CPA license

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