Are you considering a career in accounting or finance? Ohio’s job market offers a wealth of opportunities in these fields, catering to various skills and education levels. Whether you’re just starting out or looking to advance your career, understanding the landscape of accounting and finance careers in Ohio can help you chart a successful path. This blog explores job opportunities in accounting and finance in this midwest state.
Understanding the Landscape
Ohio’s economy is diverse, with industries such as agriculture, manufacturing, healthcare, education, technology, and finance leading the state’s economic engine. This diversity creates a stable demand for accounting and finance professionals across the state. For example, Ohio’s unemployment rate for accountants and auditors was only 1.3% in 2023, indicating strong job security in the field. According to Tech Republic, hiring within the business services industry accounted for over 40% of all finance and accounting jobs, totaling more than 200,000 positions in 2023 .
Accounting and Finance Careers in Ohio
What sort of accounting and finance positions are particularly sought after in Ohio? With its diverse economy and growing business sectors, the state offers a wide range of opportunities for accounting and finance professionals. Here is a list of some of the most sought-after positions in the state, including typical qualifications and average salaries.
**Note: Salary requirements vary widely depending on the company, location, and industry and are based on averages across the entire state.
- Certified Public Accountant (CPA)
- Role: CPAs handle a variety of accounting tasks, including auditing, tax preparation, and consulting.
- Education & Certification: A bachelor’s degree in accounting and passing the CPA exam are required.
- Average Salary in Ohio: Approximately $75,000 per year.
- Financial Analyst
- Role: Financial analysts assess the performance of stocks, bonds, and other investments, providing guidance to businesses and individuals.
- Education: Bachelor’s degree in finance, accounting, or a related field.
- Average Salary in Ohio: Around $70,000 per year.
- Management Accountant
- Role: Also known as cost accountants or industrial accountants, these professionals work within companies to manage financial records, budget analysis, and cost management.
- Education: Bachelor’s degree in accounting or finance.
- Average Salary in Ohio: Approximately $65,000 per year.
- Internal Auditor
- Role: Internal auditors review and monitor their organization’s financial and operational activities to ensure compliance with laws and regulations.
- Education: A bachelor’s degree in accounting or finance is required, and certification such as CIA (Certified Internal Auditor) can be beneficial.
- Average Salary in Ohio: About $60,000 per year.
- Tax Examiner/Collector
- Role: These professionals work for the government to review tax returns, conduct audits, and collect overdue taxes.
- Education: Bachelor’s degree in accounting.
- Average Salary in Ohio: Around $55,000 per year.
- Financial Planner
- Role: Financial planners help individuals manage their finances by creating budgeting, saving, and investing strategies.
- Education: A bachelor’s degree in finance or a related field, with certification such as CFP (Certified Financial Planner), is advantageous.
- Average Salary in Ohio: Approximately $70,000 per year.
- Budget Analyst
- Role: Budget analysts help organizations plan their finances by preparing budget reports and monitoring spending.
- Education: Bachelor’s degree in accounting, finance, or a related field.
- Average Salary in Ohio: Around $65,000 per year.
- Forensic Accountant
- Role: Forensic accountants investigate financial discrepancies and fraud, often working with law enforcement.
- Education: Bachelor’s degree in accounting; certification such as CFE (Certified Fraud Examiner) is helpful.
- Average Salary in Ohio: About $75,000 per year.
- Controller
- Role: Controllers oversee the accounting department, ensuring accurate financial reporting and compliance.
- Education: Bachelor’s degree in accounting or finance; often requires CPA certification.
- Average Salary in Ohio: Around $90,000 per year.
- Chief Financial Officer (CFO)
- Role: CFOs are senior executives responsible for managing the financial actions of a company.
- Education: Bachelor’s degree in accounting or finance, often an MBA or other advanced degree.
- Average Salary in Ohio: Approximately $150,000 per year.
- Senior Accountant
- Role: Senior accountants manage complex accounting tasks, lead teams, and ensure accurate financial reporting.
- Education: Bachelor’s degree in accounting or finance; CPA certification is often preferred.
- Average Salary in Ohio: Around $80,000 per year.
- Accounting Manager
- Role: Accounting managers oversee a team of accountants, ensure accurate financial statements, and manage budgeting and reporting processes.
- Education: A bachelor’s degree in accounting or finance and a CPA or CMA certification are advantageous.
- Average Salary in Ohio: Approximately $85,000 per year.
Ohio presents a dynamic and promising environment for accounting and finance professionals, and the outlook is expected to continue its growth trend despite recent economic fluctuations. Specific roles, such as financial analysts and accountants, are seeing increased hiring, driven by the need for financial planning and analysis, financial reporting, and compliance roles. Additionally, flexible work arrangements are becoming more critical, with companies offering adaptable work schedules having a distinct advantage in attracting top talent.
With various roles available and a positive job outlook, individuals with the proper education and certifications can build rewarding careers in this state. Whether you’re analyzing investments, managing budgets, or ensuring compliance, Ohio’s diverse economy and vital business sectors offer a solid foundation for success in accounting and finance.
