The Complete Accounting Career Path: From Entry-Level to CFO

The financial health of any organization relies on the meticulous and strategic work of accounting professionals. Known for long-term stability and high market demand, an accounting career path offers dynamic opportunities to shape business decisions at the highest levels.

This blog post will cover everything you need to know about the accounting profession, from initial entry-level roles to executive leadership.

Is Accounting a Good Career?

To understand accounting as a career, it helps to understand the core responsibilities of the accountant role. When looking at what an accountant’s job entails, the U.S. Bureau of Labor Statistics (BLS) explains that accountants and auditors prepare and examine financial records, ensure taxes are paid properly and help operations run efficiently.¹ In addition to basic record-keeping, these professionals identify potential areas of opportunity and risk for their organizations.¹

The accountant career outlook remains highly positive. The BLS reports there were nearly 1.6 million accountant and auditor jobs in 2024, with employment projected to grow by 5% from 2024 to 2034.¹ This steady growth translates to about 124,200 openings each year.¹ For those seeking reliable accountant career information, the salary expectations are equally compelling. The median annual wage for accountants and auditors was $81,680 in May 2024, significantly higher than the $49,500 median for all occupations.¹ Furthermore, the highest 10% of earners in the field brought in more than $141,420.¹ With strong job security for CPAs and long-term career prospects, this field can be a lucrative and stable choice.

Types of Accounting Career Paths and Options

There is no single route to success, as accounting career paths branch into several distinct sectors. Depending on your interests, accounting career options include public accounting, management accounting (corporate finance), government accounting and internal auditing.¹ The specific career opportunities in accounting differ across these fields, meaning professionals can align their work with their personal and professional goals.

For example, government accountants ensure that revenues are received and spent according to laws and regulations, while forensic accounting in legal contexts involves investigating financial crimes such as embezzlement and securities fraud.¹ A 2024 report by the Association of Certified Fraud Examiners (ACFE) found that organizations lose roughly 5% of their revenue to fraud each year, highlighting the critical need for experts who can investigate and prevent these losses.² Considering the impact and variety of these roles, those wondering what type of accounting career is right for them will find that each sector offers unique challenges and rewards.

Public vs. Corporate Accounting

Two of the most common avenues for professionals are public and corporate (or management) accounting. Public accountants serve external clients ranging from individuals to large corporations, often providing tax, audit, consulting and advisory services, as well as financial planning and wealth management services.¹ In contrast, corporate accountants produce financial information for internal business managers to guide strategic decision-making.¹

The daily expectations and long-term trajectory of these two paths differ significantly. Public accounting provides extensive career opportunities for CPAs and faster advancement tracks, but professionals often sacrifice personal time (such as during busy season hours) for professional experience and salary growth.³ Conversely, corporate accountants often value and experience a better work-life balance while still maintaining competitive compensation and steady mobility.³

The Accounting Career Progression: Entry-Level to CFO

The career accounting timeline typically follows a clear and rewarding progression. Professionals often start as staff accountants, earning an average U.S. salary of $65,652.⁴ As they gain experience and demonstrate attention to detail, organizational skills and math proficiency, they can advance to senior accountant roles, which command an average salary of $87,096.⁵

Mid-level positions such as accounting manager or corporate controller require stronger communication and analytical skills.¹ At this stage, advanced education and CPA licensure become critical differentiators. All states require 150 semester hours of college coursework for CPA licensure, a credential that is mandatory for filing reports with the SEC.¹

The pinnacle of the accounting career path is the Chief Financial Officer (CFO) role. CFOs oversee the entire financial operation of an organization, leveraging years of expertise to drive strategic growth. Reaching this executive level requires exceptional leadership capabilities and a deep understanding of corporate finance. For their expertise, CFOs earn an average U.S. salary of over $172,000 per year.⁶

Advance Your Accounting Career Path With an Online Master’s in Accountancy From DePaul University

The financial sector is full of diverse and lucrative opportunities, and the right education can help you unlock your full potential. Whether you want to climb the corporate ladder to CFO or specialize in fraud examination, you can prepare to advance your career with DePaul’s Master of Accountancy online program. Designed for individuals who hold a bachelor’s degree in a non-accounting discipline, the program allows you to transition seamlessly into this thriving industry.

Through flexible, 100% online coursework, you can complete the 12 required courses and prepare for the CPA exam in as little as 12 months. The curriculum is designed to prepare you for the complexities of the field and to equip you with the skills necessary to succeed as an accounting professional—no previous accounting degree required. Additionally, you can benefit from DePaul’s deep connections to the Chicago business ecosystem and gain access to Ledger & Quill, one of the nation’s premier accounting alumni societies. Exploring the comprehensive program details and robust careers and professional development resources will show you how this degree may help you transform your professional trajectory.

Don’t wait to start building a stable, high-level career that can elevate your life and leadership potential. To get started, learn more about our admissions requirements. Questions? Contact us directly.