Five questions for accountants

Why do we ask kids what they want to be when they grow up? Kids don’t know anything. They have no idea what the job market looks like now, let alone what it’ll look like in 15 years when they’re going to be shoved out into it. This is why so many kids say they want to be firefighters, or president of the United States, when every adult knows that fire departments will be disintermediated by 2035, and that the executive branch will shortly afterward be taken over by an AI trained in China.

Instead, we should only start asking people what they want to be once they’ve had a few years in the workforce and learned some of the grim realities, so they can make informed decisions. Unfortunately, time is an arrow, so by the point that we’re really ready to decide what we want to be, most of us are already stuck with being something. At that point, since you can’t ask “What do I want to be?” anymore, the best you can do is, “How do I want to be what I’ve already committed to?”

This is a less terrifying question for accountants, since they’ve often chosen their profession for good, well-thought-out reasons (as opposed to blindly grabbing the first job that came along post-graduation, like the rest of us — or me, at least), and because it offers a wide range of attractive options. With that in mind, we’ve broken that broad question down into five narrower questions that accountants should be asking themselves at any stage in their career:

1. What do I want the rest of my career to look like?

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You have more control over your career in accounting than most previous generations of accountants. The flipside of that is that you also have more responsibility for your career than most previous generations, and you need to think very carefully about it. That means doing the research to understand your full range of options, and then doing a little soul-searching.

2. What skills will I need to be successful?

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I’d suggest some degree of tech-savviness, as well as skills in leadership, project management, communication and business development, but you’ll also want to know the specific capabilities that are expected for the positions you hope to hold, at your firm or elsewhere.

3. What are the opportunities where I am now? And what do I need to do to take advantage of them?

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Accounting firms have more internal opportunities than most of their employees know; they’re just bad at communicating them. Find out what’s available — and if they’re open to suggestions for new opportunities from you — and what you need to do to fit those opportunities.

4. What is my firm’s long-term strategic plan, and how can I fit into that?

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This assumes your firm has a long-term strategic plan (which is not always the case, and should be a warning sign). Identifying the value you can bring to the firm, and what they’ll be looking for in the future, can help shape your path.

5. What are the hottest areas in accounting?

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The best places to turbocharge your career are in brand-new areas of growth. Since they’re new, the playing field is level: There are no partners with 30 years of experience in, say, cryptocurrencies or cannabis, and you can become your firm’s foremost expert as quickly as anyone else.

Repeat

Finally, it’s worth revisiting these questions every few years; while kids only grow up once, you’ll end up being you for the rest of your life.
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