Career Change from Accounting: Ultimate Guide + 26 Great New Job Ideas

Moving on from an unsatisfying job isn't easy. But, a career change for accountants might be easier than you think.

In this article, you'll learn how to recognize signs of job frustration, assess what you want from your new career, and find a new job. To help you along the way, contact Hidden Gem Career Coaching for a free consultation.

Tired of your accounting career?

Its possible to change no matter what phase of your career you’re in.

Identifying the Need for a Career Change

An unsatisfying job can decrease your quality of life. But, it can be hard to pin down exactly what's making you feel unhappy at work.

Signs It’s Time to Leave Accounting Behind

Some red flags that it's time to leave your job behind include:

• You feel overwhelmed. If accounting doesn't have the same spark for you anymore, you might consider a new career.

• Your skills aren't developing. Growth is integral to the human experience. If you're not able to strive for improvement at work, you may feel unfulfilled.

• You aren't compensated enough. With the cost of living rising, compensation is a legitimate reason to switch jobs.

• You aren't passionate about your work. If you don't see the bigger picture in your day-to-day, then it might be time to move on.

• You feel burned out. Whether the demands of accounting or the workplace itself, burnout can be a good reason to find work elsewhere.

Common Reasons Accountants Seek a New Career Path

Feeling overwhelmed at work is common, but it can be an issue when it becomes routine. A study by the University of Georgia (UGA) and FloQast showed that 99% of accountants experience burnout. Some contributors to the study were overworking, toxic environments, and a lack of control over work. Younger accountants are also more susceptible to burnout. The constant stress at work was a strong encouragement to find another career path.

Emotional and Mental Impact of Staying in an Unfulfilling Job

Staying in a job you hate can have detrimental effects, including:

• Poor workplace performance

• Less job fulfillment

• Tension with coworkers

These effects compound and can infect your personal life. Region 5, a public behavior and crisis support platform, reports that "76% of workers say that their workplace stress impacts their personal relationships. 66% say that their stress has caused sleep deprivation."

Self-Assessment: Understanding What You Want from Your Career

Decision paralysis is no joke. When you're at a crossroads, it's hard to answer the simple question: "What do I want?" Here are some helpful considerations to find your next career.

Analyzing What’s Missing in Your Current Accounting Role

First, start by evaluating what's missing from your current job. Try asking yourself these questions:

• Is my job missing the human element?

• Am I detached or isolated from my coworkers?

• Is accounting satisfying work for me?

• Am I getting intrinsic enjoyment from my work?

• Is this work meaningful to me?

These questions may be different for each person, but they can help you pin down what you want to avoid in the future. People who have intrinsic motivation tend to be more productive, satisfied, and creative. Satisfaction should come from the art of doing as much as the finished product.

Defining Your Passions, Interests, and Values

Before you start thinking about your career change from accounting, define what drives you. Your dream job is where your talent meets your passion. Take a moment to jot down your core values, interests, and passions. Keep these in mind as you move forward, and you'll have an easier time narrowing down jobs that are right for you.

What Motivates You at Work? Identifying Key Career Drivers

Career drivers can thin the herd when changing jobs, helping you make informed decisions. A career driver is a personal motivation to succeed and is unique to you. You can best discover these by asking yourself the question "How do I want to make an impact?" Some common career drivers include:

• Becoming an expert. You have a drive to be the best at what you do.

• Fostering creativity. You need creative expression and freedom in your work.

• Influencing people. You want to bring about positive change through your career.

• Supporting others. You aim to bring out the best in your coworkers.

• Providing structure. You strive for organization and efficiency.

These career drivers aren't all-encompassing. You can experience a drive for some, or even all of these motivators. In practice, your "I want to..." statement says a lot about what you want from your career and can help you in your job hunt.

The Importance of Work-Life Balance in Your Career Satisfaction

To have a fulfilling career, you need to leave room for your personal life. But, not everyone has the same definition of work-life balance. Elaine Hollensbe, Professor of Management at the University of Cincinnati, comments on this. "There's a certain group of people who really like to keep those areas of their life separate. They've almost erected a boundary between their work and home. There are other people who are quite comfortable having work and home just mix, and they're integrators. They don't need a separation."

With that in mind, it's wise to establish your desired level of personal boundaries and set expectations before entering a new job.

Transferable Skills: Leveraging Your Accounting Experience in a New Career

Many of your developed abilities as an accountant are transferable. You can leverage them to increase your chances of getting hired.

Core Skills Gained from Accounting That Are Valuable in Other Fields

Accounting requires acumen from different fields. As an accountant, here are some abilities you may have that will look good on your resume:

• Accounting

• Organization

• Decision-making

• Communication

• Management

• Microsoft Office/Excel

• Attention to Detail

• Risk Management

• Technology Proficiency

• Project Management

How to Market Your CPA and Financial Expertise in a Career Transition

Accountants usually have financial expertise. These talents are in high demand for many careers, but the onus is on you to market them. First, make sure your qualifications are on your resume. Mention them in cover letters and interviews. Even if you're not acting as a CPA or financial advisor, you can sell yourself as a problem solver. 

Financial compliance is a problem that you can solve. You can tackle organizational problems with detail-oriented solutions. For example, budgeting is no match for your creativity.

To put this into practice, jot down some of your accomplishments. Note how you solved problems for your past employers. Good marketing of one’s abilities goes a long way in landing a new job.

Examples of Transferable Skills: Communication, Analytical Thinking, Problem-Solving

You can transfer more than just financial literacy from your workplace experience to a new job during your career transition. As an accountant, you're used to communicating with a team. You're also good at solving problems unique to your employer. These abilities are not isolated, and you can use them across many careers.

How to Highlight These Skills on Your Resume and During Interviews

To make these strengths obvious, put them on your resume. Whether you use a resume builder or custom design, write down what you accomplished using strong action verbs. Use data to support these claims. Hiring managers aren't interested in fluff. Instead, they want quantifiable improvement. Jobscan reports that resumes with quantified achievements were 42% more likely to land interviews. Some examples of strong claims might include:

• Developed a sustainable budget that decreased operational costs by 7%.

• Identified budgeting inconsistencies, saving the company $10,000 in financial compliance fees.

• Collaborated with a team of 20 employees to improve organizational structure.

Be sure to highlight any awards you've received or notable statistics from your work. Ground these claims in data. During interviews, don't be afraid to toot your own horn a little. Just be mindful not to take credit for others' work. Cite your achievements using strong "I" statements. "While working for X, I accomplished Y." Doing so makes you stand out during make-or-break interviews.

Exploring Alternative Careers for Accountants

Now that you know how to cite your achievements, here are some jobs to transition out of accounting.

Careers in Finance:

1. Financial Planner

A financial planner manages money for a person or business. In this role, you'll create personalized financial plans and manage investments.

2. Financial Analyst

A financial analyst looks at financial data for businesses. With this data, you can help companies make smart decisions. You can also use this data to personalize investment strategies.

3. Financial Consultant

A financial consultant advises on financial matters. This includes financial planning, risk management, and investment strategies.

4. Risk Manager

A risk manager aims to reduce risks to an organization's assets and develop strategies to mitigate them.

5. Compliance Officer

A compliance officer ensures that a company sticks to financial regulations and policies.

6. Investment Banker

An investment banker helps raise capital for businesses. They also handle mergers or acquisitions.

7. Wealth Manager

A wealth manager offers strategies to help businesses keep and grow their wealth. This includes planning, investing, and wealth preservation.

Transitioning to Advisory Services: A Natural Shift for CPAs

If you want a CPA career change, advisory services may be right up your alley. A CPA (Certified Public Accountant) fills out and reviews financial documents. By contrast, advisors analyze documents so businesses can make informed decisions.

8. Tax Advisor

A tax advisor helps businesses with tax compliance. They also offer advice to reduce tax liabilities.

9. Business Advisor

A business advisor focuses on growth. They give data-driven advice so businesses can achieve their goals.

10. M&A Consultant (Mergers and Acquisitions)

M&A Consultants help companies navigate mergers and acquisitions, including valuation, negotiation, and integration.

11. IT Advisory Specialist

IT advisory specialists offer guidance for IT systems to ensure they align with business goals. These focus on integration and cybersecurity.

Corporate Roles:

12. Business Analyst

A business analyst studies business data to make a business run better.

13. Internal Auditor

An internal auditor makes sure the company's controls are effective. This includes compliance, governance, and risk management.

14. Controller

A controller oversees accounting operations, including financial reporting, budgeting, and compliance.

15. Chief Financial Officer (CFO)

A CFO heads financial planning for a company. This includes how the company manages money and mitigates risk.

16. Operations Manager

An operations manager works with the day-to-day operations of a company. They make sure processes are in line with company goals.

17. Project Manager

A project manager sets up and ensures projects run on time and within budget.

18. Human Resources Manager

An HR manager oversees recruitment, training, and development for employees according to labor laws.

Non-Financial Career Paths:

If you don’t want to work in anything to do with finance anymore, here are some career changes for accountants that put you on a different path.

19. Teaching

As a teacher, you can educate students in accounting, finance, or business.

20. Performance Marketing

In performance marketing, you can work to improve marketing efforts in a data-driven way. With your experience, you may oversee technical data and metrics like clicks, sales, and leads. Some roles in this field include PPC Manager, SEO Manager, and Analytics Manager.

21. Entrepreneurship

You can use your knowledge to start and run your own business. You already have a head start with experience in operations and finances.

22. Data Scientist

As a data scientist, you'll need your math skills and great attention to detail. You'll analyze and interpret complex data to drive company decisions.

23.  IT Systems Analyst

This is another technical field that requires data proficiency. Here, you'll design and implement IT systems that meet business needs. These systems often try to improve efficiency and security.

24. Management Consultant

A management consultant works with company leaders on a variety of levels. They offer insight into strategy, structure, management, and operations.

25. Corporate Trainer

A corporate trainer brings employees up to speed. This includes programs to help employees develop their competence.

26. UX/UI Designer

A UX/UI designer works with online business components. They focus on the design and user experience of websites and digital products.

Success Stories: Real-Life Examples of Accountants Who Made the Switch

Switching from accounting can be daunting, but there are real people who've segued their accounting into entrepreneurship. One example is Phil Knight. 

Knight graduated from the University of Oregon with a business degree and went on to Stanford. In his early career, Knight worked as an accountant at multiple firms including Price Waterhouse. 

After he graduated from Stanford, he traveled to Japan, where he forged a deal to sell a shoe company's product in the U.S. Five years later, he quit his accounting job to focus on developing the company. Knight moved on from accounting to create Nike, a company known around the world.

Career Change Preparation: Steps to Transition Out of Accounting

Moving on is never easy, but if you're ready, here are some steps to help you learn how to get out of accounting.

Researching Potential Careers and Aligning Them with Your Skills

Start with some research on alternative careers for accountants that match your talents and interests. Hopefully, the list we provided above has sparked some interest.

Gaining New Qualifications: When and Why You Might Need Them

While many abilities transfer, you may need new ones. If you transition to teaching, for example, then you may need to take courses in education. Once you've narrowed down some careers you like, look into the qualifications you'll need to excel.

Networking and Building Connections in Your Desired Industry

Adapting takes time, but you can often leverage your time in accounting to help you. If you're going from accounting to advisory work, for example, some of your current connections might be able to help you. If not, then you'll want to set a goal to build meaningful connections. 

Try these steps to develop your network:

• Learn more about your target industry

• Create a LinkedIn profile (or optimize your existing one)

• Join communities in your niche

• Attend relevant events

• Connect with local businesses and vendors

Utilizing Career Coaching and Mentorship for a Successful Transition

Career coaching is vital to increase the odds of a smooth transition from one industry to another. Not only can a coach connect you with industry professionals, but they can also make your talents stand out. A career coach can help you define your career goals, acclimate to new industries, and optimize your resume.

Ready to take the next step in your career journey? Let Hidden Gem Career Coaching’s career transition service be your guide to a successful transition. Discover how we can help you unlock your full potential and thrive in your new industry.

Overcoming Challenges in a Career Change from Accounting

Nothing worth doing is easy, and a career change from accounting comes with some hassle. You can expect a learning curve as you adapt. It's much easier to deal with mentally though, if you're expecting it.

Dealing with Fear and Uncertainty During the Transition

Fearing the unknown is very human, but it can lead to decision paralysis. You can try the following to make the transition smoother:

• Acknowledge your emotions. Uncertainty is inevitable when you're changing jobs, but it's better to recognize the negative emotions you are feeling rather than bury them.

• Embrace the unknown. Having an attitude of acceptance generally improves receptiveness to new experiences.

• Focus on the positive. Cultivating an attitude of positivity can reduce stress and strengthen your resilience to change.

Financial Considerations: Managing the Impact of a Career Change

It's smart to think about your financial situation before you quit your job. First, make sure you are tracking your spending. If you don’t, budgeting and planning are very difficult. Next, try to set up an emergency fund with 3-6 months of living expenses. This can be a good fallback plan while you search for work.

While you plan, aim to pay off any debt you have so it's not a burden for you during the transition. Lastly, take care of yourself during the change. If you're healthy and happy, you're better equipped to handle the impact of a career change.

How to Handle Potential Setbacks and Stay Motivated

Not every step of the way will be smooth sailing. Setbacks and dead ends are bound to be a part of your new career path. Some conscious steps you can take to keep motivated include:

• Expecting dead ends

• Focusing on the end goal

• Leaning on family and friends

• Being grateful for the journey

Implementing Your Career Change Plan

Now that you know where to focus on transitioning and how to tackle expected challenges, here's how you can put your accountant career change into action.

Developing a Step-by-Step Action Plan

First, set actionable goals. These goals should be specific, achievable, and measurable. Once you've got something in mind, write it down. A study by Psychology Professor Dr. Gail Matthews showed that 76% of people who wrote down their goals and reported their progress to friends achieved them; by contrast, only 43% of participants who didn't write their goals achieved theirs.

You might frame your goals in the form of questions like "Who am I going to reach out to this weekend?" or "What industry am I going to research tonight?" By the end, you should have a step-by-step plan of action.

Applying for Jobs and Preparing for Interviews

Next, the actionable part of job hunting: applying. Touch up your resume with your accomplishments (like we described above) and get ready for interviews. If you have connections to similar fields, make sure to leverage them to build rapport within the industry.

Prepare for interviews by practicing your answers. Recognize your value and speak with clarity and confidence. Make sure you have a few citable achievements where you were integral to solving the problem and bring them up during the conversation.

Navigating the First Few Months in Your New Career

Adjusting to a new job always involves change, but with the right mindset, you can make the process easier. Here are some steps you can take to gear toward long-term job satisfaction.

Don't Assume You Know Everything

When you're transitioning to a similar job field, it may be tempting to take the reins and run with them. Instead, you should listen carefully during onboarding. Follow company protocol as best you can. If you have the chance to work with an experienced employee, communicate with them often to make sure you’re on the right track.

Take Your Time

Acclimating to a new job can take up to a year. As you get used to the new environment, ask plenty of questions. Check-in with your coworkers or supervisors often to ensure you’re maintaining a high-quality standard of work.

Continuous Learning and Professional Development in Your New Role

A new job means new growth opportunities and professional development. As you step into a new role, actively consider what you can develop as you progress. Consider getting involved in workshops, collaborations, or networking events that progress your career goals.

Embracing Your New Career Path with Confidence

In the long run, an unfulfilling job can be miserable. Embracing change with confidence can empower you to find work that lets you progress your personal goals. With careful planning, you can navigate a career switch with confidence.

Additional Resources for Career Changers

Books, Websites, and Tools to Support Your Transition

There are a plethora of resources for people changing jobs. The Wall Street Journal recommends these books:

• The Road Less Traveled by M. Scott Peck

• The Good Enough Job by Simone Stolzoff

• Make Your Contacts Count by Anne Baber and Lynne Wayoon

• Dedicated by Pete Davis

• What Color is Your Parachute by Richard N. Bolles

You can also check out my book about careers, The Hidden Gem Within.

You may also want to set up or strengthen your LinkedIn account. Not only does this give you a professional presence, but you can also read posts from others who have changed jobs and connect with people in the same boat as you. Some additional tools you can use to learn more about yourself include:

• The Myers-Briggs Type Indicator (MBTI)

• The Holland Code (RIASEC) Test

• The Career Change Readiness Quiz

Professional Networks and Organizations for New Career Paths

Making connections is a great way to start transitioning jobs. You can use resources like LinkedIn or Indeed to find some reputable professional networks in your niche. In the best-case scenario, these connections can help you land a job. At the very least, these associations are proof of your presence in the industry and your commitment to growing within your niche.

How to Stay Updated with Industry Trends in Your New Field

Industry trends change, so you'll want to adapt and find resources in your new field. Start by familiarizing yourself through social media, podcasts, industry leaders, and professional organizations. Study your competition to see what they're doing differently and attend conferences to expand your knowledge. You can take this information to experiment, gather data, and collaborate with your colleagues. Staying in the loop makes you informed and valuable in your new field.

Free Career Change Consultation

If you're planning on changing careers, consider consulting with a career coach. We can help you touch up your resume, build meaningful connections within the industry, and make yourself invaluable to hiring companies. 

Get in touch with us today for a free consultation or visit us at https://www.hiddengemcareercoaching.com/ to see how we can help you make the switch.