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Economic Downturn Affecting Accounting Students
Question: "Do you have any advice for an accounting student in the economic downturn?"
Answer provided by: Joan Kampo, SPHR, Director of Human Resources
jkampo@withum.com
"Thank you for your inquiry. It is a great question, despite all of the negative headlines we hear each day.
The current economic climate is the most severe downturn we have experienced in recent history, and it can be discouraging to job seekers. The experts do agree that financial times are cyclical, and the economy will eventually go back up. Most are predicting a turnaround within 18 months.
However, as a student of accounting you have selected a field that is highly resilient to economic downturns, more so than other industries. In fact, according to HR World magazine, Accounting ranks # 9 on their list of the top 25 careers to pursue in a recession. They note, “Death and taxes are a sure thing. In a recession, people and companies are likely to get desperate for more deductions and a hard look at their books.” Furthermore, if public accounting is not for you, you can look to get a job in the accounting departments of the many other recession-proof industries such as Energy, Utilities, and Education.
If you are approaching graduation and you are concerned about finding a job, one of the most important things that you can do is to make sure that you take full advantage of all of the on-campus recruiting events that your school hosts. Lucky for you and your classmates, Rutgers has many!
Best wishes as you complete your studies."
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