For Indian accountants aspiring to build successful careers in the dynamic US public accounting landscape, choosing to pursue a Master’s in Accounting (MS in Accounting) in the USA is not just a strategic move—it’s a transformative journey! So, what makes this decision so compelling and career-defining?
Accounting has been recently designated a STEM field in the US. In August 2023, the AICPA and 54 state CPA societies nominated six accounting-related degrees for inclusion on the STEM Designated Degree Program List. Some MS in Accounting programs now qualify as STEM degrees, offering eligible international students extended visa options, including Optional Practical Training (OPT).
Key Subjects for STEM Designation in Accounting:
The STEM designation hinges on the program curriculum, specifically emphasizing subjects within the accounting courses that align with STEM criteria. Recognized subjects include:
- Mathematics: Integration of advanced mathematical concepts.
- Statistics: Application of statistical methodologies in accounting contexts.
- Data/Business Analytics: Emphasis on data analysis and business analytics.
- Technology: Integration of technological tools and applications within accounting practices.
Programs incorporating these subjects robustly into their accounting curriculum are more likely to receive STEM designation.
However, beyond the academic qualification, acquiring specific skill sets is crucial to stand out in a competitive job market. This article highlights the top 5 skills that will equip you for success as a future US accountant:
Top 5 Attributes US Recruiters Seek in Accountants:
In one of the episodes of ‘What Recruiters Want?’, we had the opportunity to speak with Amanda Kugler, Talent Acquisition Manager at SB & Company, LLC, one of the top public accounting firms in the US, along with Akhila Chandrashekar, Vice President of US Placements at MilesEducation. Amanda delineated the key skills recruiters seek in candidates and provided valuable tips on how you can secure your first job in the US with a starting salary exceeding $60,000, equivalent to over 50 lakh rupees.
Here are the essential skills that will prepare you for success in your future role as a US accountant
- Strong Academic Foundation:
- Maintaining a strong GPA is pivotal for aspiring accountants aiming for opportunities in the USA, particularly for Indians seeking accounting jobs in the USA. Public accounting firms highly value candidates with a demonstrably strong academic record in accounting, as it reflects proficiency in core accounting principles and a commitment to academic excellence. This emphasis on educational achievement underscores the significance of a solid foundation for Indian professionals aspiring to excel in the dynamic field of accounting in the USA.
- Gain Practical Experience:
- Prioritize internships/part-time jobs: While pursuing your MS, actively seek internship or part-time job opportunities, preferably in the service industry. This experience provides valuable client interaction skills – a critical aspect of success in public accounting. Observing and participating in client interactions equips you with the necessary interpersonal skills to navigate client relationships effectively.
- Develop Leadership Qualities:
- Hone your leadership skills: Public accounting firms often value individuals with strong leadership capabilities. This could involve taking initiative in group projects, participating in leadership development programs, or assuming leadership roles in student organizations. Demonstrating initiative and the ability to manage and motivate others are highly sought-after qualities.
- Master Communication Skills:
- Refine your communication skills: Whether written or verbal, effective communication is vital in the accounting profession. You will be expected to communicate complex financial information clearly and concisely, both to clients and colleagues. Actively participate in class discussions, seek opportunities for public speaking, and refine your writing skills to ensure you can articulate complex ideas effectively.
- Proficiency in Accounting Software Tools:
- Master accounting software tools: Familiarity with commonly used accounting software like QuickBooks, Microsoft Excel, and specific software utilized by the firm you’re targeting is crucial. Demonstrating proficiency in these tools signifies your ability to adapt to professional settings and efficiently handle essential accounting tasks.
Key Takeaways:
By actively developing these five skill sets alongside your MS in Accounting, you can position yourself as a competitive candidate for public accounting firms in the USA. Remember, consistent effort, continuous learning, and a commitment to excellence are key to achieving your dream career in the US accounting landscape.
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