Thuy Ta has a little more than six months until graduation.Like many undergraduates, the accounting senior has been weighing her options. But even though The Wall Street Journal has deemed accounting graduates among the least likely to be affected by the recent economic downturn, Ta is concerned she won’t be able to break through the competitive job market and weak economy.”I think the economy is going to be better in two years,” Ta said. “The market is going to have a lot more to offer, and I’m going to have a lot more to offer to the market.”Sara Crow, Career Services manager, said students traditionally apply for graduate school in higher volumes in times of economic hardship. True to tradition, Crow said Career Services counselors and advisers have seen the increase while reviewing students’ personal statements. Whether it’s because of the economic crisis or because of the growing popularity of graduate school, students are applying for graduate school in higher volumes. “What we’re seeing right now is concern from students, particularly students near graduation,” she said.Samuel Tiras, accounting department chair, said accounting is historically a profession with few ties to the economy, but the “size of departments actually swell in accounting across the country” in times of economic downturns.He said an influx of students transferring from engineering to accounting usually occurs when the economy takes a downward turn.”In any sort of discipline, there’s a lot of uncertainty about funding,” Tiras said. “People are pessimistic. I think it’s going to be a good, long ride before people are optimistic enough to take a lot of chances.”Tiras said as opportunities for accounting graduates increase, opportunities for finance graduates decrease.The 2008-09 Occupational Outlook Handbook ranks personal financial advisers and financial analysts within the top 15 of the 30 “fastest growing occupations” through 2016.Carlos Slawson, finance department chair, said in an e-mail that University accounting graduates and finance graduates have very similar skills.”Bright students who know they want to go the [Certified Public Accountant] route should get an accounting degree,” he said. “I advise students who want to be a chartered financial analyst or a certified finance planner to specialize in finance.”Slawson said many finance jobs in the corporate world see accounting and finance graduates competing with each other. Crow said Career Services hasn’t witnessed any December 2008 graduates unable to find jobs.Regardless of the state of the economy, Crow said students should “know [their] own industry,” which she said includes knowing the projected growth of careers in the major they choose.”If one thing that comes out of this bad economy for LSU students is that they are more focused on choosing majors, then that’s a nice thing to have had happen,” Crow said.—-Contact Lindsey Meaux at [email protected]
Accountants among least affected by weak economy
November 18, 2008