If an estimated employment growth of 11 percent and generous salaries aren’t enough to get accountants excited, a recent study may do the trick.
For the third consecutive year, accounting was named the most profitable industry in 2016 by Sageworks, a financial information company that provides financial analysis to accounting firms and private companies. The study is based on a financial-statement analysis provided by privately held companies.
The study found that privately held accounting companies (accounting, bookkeeping, tax preparation, and payroll service companies) averaged a net profit margin of 18.3% over a 12-month period ending on June 30.
Legal services firms and real-estate leasing companies tied for second and third in profitability with a 17.4% net profit margin followed by outpatient career centers (15.9%).