How is the job market in accountancy?

CHANGE OF PARADIGM

Many uncertainties have been raised regarding the future of this profession. According to a survey by the University of Brasilia, this would be a doomed profession within a few years. In an opposite field, the World Economic Forum, makes it clear in 2020 that the administrative sector is in growing expansion, being the one that employs more people. According to the specialist in this area Jader Borges da Silva, the solution is clear. What is underway is a true paradigm shift in the profession. Technology and automation do not take the work away from accountants but lead them to specialize and use their skills in another way. The vast area of accounting crosses various sectors of the economy and, if before this was a career only associated with tasks related to accounting entries, today the professional profile of an accountant is very closely linked to supporting the financial strategy of organizations.

On the other hand and extending the range to the financial area namely to Portugal, we know that this is an attractive country to work in and that despite Covid19 having had a huge impact to the world economy, Portugal had a historical year in terms of investments, with many international professionals choosing our country to work, namely for positions in the financial area. We believe therefore that an accounting professional has at his disposal a huge range of professional possibilities to explore in the world and, in Portugal.

THE TRAINING

To work in accounting, you can opt for entry level training and explore your skills up to a higher level. Given the demands and competitiveness of the market nowadays, it is essential to recycle your knowledge and keep up with new trends, as it is certain that a better qualification in this area can bring you new and better job prospects and a wider range of opportunities, as well as more competitive salaries.
In Portugal, the educational offer in this area is extensive, with a series of offers at the most varied levels, from free courses at the IEFP - Instituto de Emprego e Formação Profissional (Institute for Employment and Professional Training) to higher and master's degrees at prestigious higher education institutions such as Católica-Lisbon, ISEG and ISCTE Business School.

PROFESSIONAL OPPORTUNITIES

Accounting Technician

An accounting technician has more administrative functions with a more entry-level training, whose activities are associated with accounting entries: processing invoices, registering receipts, IRS payments, payroll, among others.

Chartered Accountant

With functions which may be more associated to consultancy and auditing, the TOC - Official Accountants are higher level technicians who need a degree and to be accredited by the OCC - Order of Certified Accountants to exercise their profession.

Financial Consultants and Analysts

They advise their clients on investments, as well as paying attention to all economic trends so that all decisions are taken in a safer manner. They are therefore specialists in asset management.

THE SALARIES

When we talk about the labor market, we often want to know how much we will earn if we perform a certain profession. In fact, there is no closed answer to this question as it will always depend on the area of work and level of skills but also on the professional experience of each one. We know that the average salary in Portugal is around 1400€/month. If an accountant at the beginning of his career and with an initial training has a salary well below this value, an accountant with a few years of career, with knowledge at degree level, may more than double this value. Therefore, we can affirm that this is a market with various opportunities, which are only possible if each person has the will and the willpower to succeed.

HOW TO LOOK FOR A JOB

The job market is always changing, and it is fundamental that candidates are motivated to keep themselves constantly updated, in a logic of continuous lifelong learning and active in their search for new opportunities. If you are looking for a job opportunity in accounting in Portugal and you are not sure where to start, please contact FED FINANCE, a company specialized in financial professions since 2001. 

Fed Finance gives you all the support you need in your professional project, from the first interview to the hiring of a job. Simply fill in the FORM and a consultant will analyze your application and contact you as soon as possible. You can also access and apply immediately to the JOBS OFFERS in the accounting area available on the FED FINANCE website.