From the beginning of a child’s life parents always dream of what their kids will grow up and be. Every parent’s dream is for their kid to be very successful and make a good living. Many parents dream of their kids being very rich. Lawyers and accountants make the money parents dream of their kids making. A lawyer as well as an accountant make the big bucks everyone dreams of making. These are two great careers one should explore when thinking about a lifetime job. These two careers are both good choices, but they have their differences. Among these differences are their salaries, education requirements, and skill requirements.
Lawyers and accountants both make great money, but their income can differ. The amount of money one earns depends on several factors. Most accountants coming out of college with a bachelor’s degree earn between $23,000 and $35,000 a year. Senior accounts can earn up to $50,000 a year. Owners and partners of firm can earn $100,000+ a year. These opportunities are rare, but can be reached. An accountant with a major earns considerably more than one with just a bachelor’s degree. A CPA makes more money than all the rest of accountants. Lawyers can make even more money than accountants. Lawyers starting in salaried positions earn an average of $37,000 a year. Starting salaries with the federal government are about $29,200 to $36,000 depending upon their education level and specialization. An experienced lawyer in a private practice earns an average of $115,000 a year, as compared to an experienced lawyer working for the government who earns about $68,000 a year. The potential money is enough to make anyone want to be a lawyer or accountant. But, before making the big bucks, one must first obtain a degree.
College is a must for an accountant or lawyer. The minimum educational requirement for accountants is a bachelor’s degree in accounting. Programs for obtaining a bachelor’s degree are offered throughout the country. Some positions require one to have a master’s degree in either accounting or business administration. One with a master’s degree can earn considerably more money than someone with just a bachelor’s degree. Continuing education courses to renew their license is required for those holding CPA designation. Educational requirements for lawyers include a bachelor’s degree plus three years of law school. In order to get into law school, one must first take an examination called the LSAT (Law School Admission Test). One must also graduate from an American Bar Association, which means it is an approved college or university. After completing law school one must take yet another test. This one is the bar examination. One must take it for the state in which they plan to practice. After passing this, one can begin the law practice. After obtaining a degree, the next step is to find a job.
There are vast areas in which one can practice law or accounting. Employment for accountants is broad. Accountants may work in one of the following areas: public accounting firms, federal government, corporations in an industry, state government, or local government. The 21st century offers great job opportunities for accountants. In Jane Shaddrix’s book The Accountant Today, she says, “As tax laws and other financial matters become more complex, the demand for accountants will grow tremendously”. There is expected to be hundreds of new jobs for upcoming accounts in the next five years. Job opportunities will be easy to find. A good law job is important as well. There are many choices. In Shelly Field’s book 100 Best Careers for the 21st Century, she says, “Careers in law are as varied as the people who work in the field”. Individuals may choose several paths to take. One may work in large firms, small firms, or in their own private practice. They may also work in corporate legal departments or in legal aid offices. There are many areas in which a lawyer can specialize. They may specialize in areas including: criminal law, patents and trademarks, tax law, corporate law, aviation law, maritime law, family law, general law, government law, etc. There is expected to be many job opportunities for the 21st century. Shelly Fields say, “Given the demographics of society, the new century will most likely see specialization in law for the elderly.” One has many opportunities for a job once receiving a law or accounting degree.
When looking for a career, one should explore vast fields of study. Not everyone is meant to be a lawyer or accountant. The ones who do become lawyers or accountants will fulfill their parents dreams of them someday making the big money everyone dreams of. The school is lengthy, but in the long run a job as a lawyer or an accountant can be very beneficial.