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is accounting a good profession to go into for jewish living standards? our cost of living is so high.
If your cost of living is more than you can afford, you need to be more frugal and more modest. If you are living better than a kollel family with poor connections, no supportive parents and a spouse who spends most of her time doing childcare, you need to cut back expenses.
If you like economics, businesses and math, accounting is fine. If you want to get filthy rich, you’ll have to move over to management. Pays well but is soul crushing. Note that if Ha-Shem really wanted you to be rich, your parents would have left you a trust fund.
It has to fit your personality. It is not just math, it is knowing numerous government rules, and then following them through and explaining/reminding your clients about them. I would first look at accountants you know and see if your personality is similar. Then talk to them about what they do during the day.
The good part of the lifestyle is that you can be an independent contractor serving multiple clients and be in control of your time, so that you can be there for your wife. children and hevrusa
As an accountant I can tell you this- if you open your own business the sky is the limit but so are the risks.
An accountant’s income starts at 75k and caps at around 150k. (where I live)- do your research in your community and decide if you can live on that.
The income greatly increases were you to use your accounting knowledge and experience in a specific field to become a CFO. (which is currently my goal).
Note- not all accountants do public accounting/ tax returns. Every business needs an accountant and there are many career options.
Regarding personality, I don’t think all accountants need to have the same personality, in my case, I enjoy math, numbers, probably solving, working with complicated spreadsheets for hours, and explaining difficult concepts. On the other hand, I am a very social and outgoing person, not the typical “accountant” personality.
Hope this helps and good luck!My husband’s friend is an accountant in Lakewood and they have parnasah problems with the usual maybe 5 or 6 kids. My friend is an accountant but got promoted to something else and she seems to be doing very well, but not superrich, with her husband working as a therapist.
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