The economy sucks and the job market is weakening. The government just decided to pass nearly $1 trillion in corporate bailouts. But I'm not the least bit worried. A
graduate student in a Masters of Accounting Program, I've done my research and know what is in store. After crunching the numbers, the job odds are in my favor.
One year graduate programs have nearly a 95 percent job placement rate. I'm sure in some schools it is closer to 100
percent. In an economy with such uncertainty, this program is prospering. The program's job
placement rate is one of the highest in the nation.
The demand for accountants is growing, regardless of the current economic state.
Kitchen summarizes that whether the job market is strong or weak, taxes and audits aren't
going away.
"Pair that with the fact that many accountants are at the point of retirement and you have the
perfect work opportunity," he said.
In 2002, with the collapse of Enron and the Arthur Andersen Public Accounting Firm, it was
an unfavorable period for the accounting sector. Surprisingly, the long-term effect turned out
to be positive for accountants.
"Even though the company went under and a public accounting firm went under, it actually
increased the need for accountants," Lisa Ottinger, the director of a Masters of
Accounting Program said, referring to the Arthur Andersen Public Accounting Firm. "Also,
there was so much publicity about it that students became interested in the profession. It's
kind of an interesting turn out."
Ottinger said this required companies to enforce a lot of regulations to try and prevent
something like Enron from happening again. Because of the fallout, the Sarbannes and
Oxley Act was passed by Congress in 2002. This federal law imposed stricter regulations on
public businesses.
"That act changed the accounting and auditing regulatory environment," Heintz said. "It
ramped up the requirements. That act has caused an explosion in the demand for
accountants- beyond what we had before."
Ottinger said KU's Masters program, a 30-hour curriculum (five years to receive both a
bachelors and masters) has grown 50 percent from last year. In addition, the student is able
to sit for the CPA exam. The three tracks offered are audit, tax and information systems.
"I enjoy everything about accounting," Kitchens, the masters student, said. "I enjoy
crunching numbers. I enjoy the work that goes into it."
Kitchens would like to work for one of the big four accounting firms: KMPG,
PricewaterhouseCoopers, Ernst & Young, or Deloitte. He'd like to start out in Kansas City
and eventually move to Seattle.
Kitchens is keeping his options open.
Mize, Houser and Company, a tax services and accounting firm in Lawrence, has seen the
necessity for accountants.
"With accounting, you don't want to do it yourself. You need a specialist's help," Paige
Hatfield, an accountant for the firm said.
