While the Accounting and Finance sector does rely heavily on numbers, you may be surprised to know that you don’t need to be a mathematical genius to break into this in demand, and potentially lucrative industry.

With the training that TAFE NSW provides, anyone who is detail oriented, enjoys solving problems, and has excellent communication skills and a desire to help drive business or manage and mentor a team, will be in high demand and capable of enjoying a wonderful career in a range of accounting and finance roles, across nearly all industries.

Spotlight on industry: Employment levels

It is predicted that employment levels in the accounting and finance sector will increase between 2018 and 2023. Accountants make up the largest proportion of the industry, with over half of all workers in this industry in this occupation. And according to findings, 32% of employers intend to increase their permanent accountancy and finance staff levels.

Accounting and Finance continues to face a major skill shortage, with employers always looking for perfectly presented, qualified, bright and driven candidates, and demand will remain high for management accountants across the public sector. Commercial analysts are in extremely high demand, and business and financial analysts are also sought. In other areas of demand, management accountants and financial accountants with strong reporting, analytical and business partnering skills are being sought.

Spotlight on sought after skills

On top of all the necessary qualifications for a career in this industry, employers look beyond the technical skills, for candidates who possess strong soft skills. To give yourself the best possible chance, you should try to develop strong communication, collaboration, interpersonal, and business relationship building skills. Additionally, people who are comfortable embracing change are also highly regarded.

The following are the most sought after skills in the accounting and finance sector:

• financial skills
• data analytical skills
• digital skills
• communication, teamwork and collaboration skills
• detail oriented, planning, and problem solving skills
• compliance and risk management skills
• stakeholder management skills to build effective relationships
• customer service and marketing skills
• adaptability skills to embrace new technologies and ways of working

Spotlight on industry occupations

Expertise in accounting and finance is essential for success in business, as well as every enterprise throughout every industry sector. So people with strong skills in this area are widely, and highly sought after, with the top five accounting and finance occupations in demand are:

• accountants
• auditors, company secretaries and corporate treasurers
• financial investment advisers and managers
• management and organisation analysists
• finance managers

Spotlight on industry career: Accountant
 
Providing services to organisations and individuals, related to financial reporting, taxation, budgeting, cost management, planning and decision making, as well as providing advice on associated legal, compliance, and strategic governance, accountants are a highly crucial element to any, and all, businesses.

There were 2,165 job ads listed in NSW over the last three months
Average salary: $73,000
Relevant qualification: Diploma of Accounting (FNS50217)

Spotlight on industry career: Finance Manager

Finance managers plan, organise, direct, control, and coordinate the financial and accounting activities within a wide range of businesses and organisations. Conducting research, and then based on the research, financial managers decide what sort of capital to invest in, to fund a company's assets and maximising the value of the firm for stockholders.

There were 675 job ads listed in NSW over the last three months
Average salary: $108,090
Relevant qualifications:

Advanced Diploma of Financial Planning (FNS60415)
Bachelor of Business (HE20514V01)

TAFE NSW has Bachelor Degree options in this career area

TAFE NSW Degrees are taught by industry experts in dynamic, progressive learning environments. You don't need an ATAR, but you will graduate with a qualification that will change your future.

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Sources: Industry employment forecast, job advertisement, top skills, and employer data have been provided by TAFE Strategy. Employment forecast data was sourced from Deloitte Access Economics in February 2017. All job advertisement data was sourced from the Burning Glass Technologies’ Labor Insight™ Real-time Labor Market Information tool and is based on online job postings over the 12 months to October 2018 unless stated otherwise. Average salary data has been sourced from the Commonwealth Government’s JobOutlook website.