Accounts Jobs in the Philippines
Date : October 4, 2019 By
The Philippines is the upcoming hub for career and jobs. There are many important industry domains like as Information Technology (IT), Business Process Outsourcing (BPO), Banking and Finance, including Health Care and Nursing, Engineering and other areas which are showing tremendous growth in recent time. All these have opened up a good number of job avenues in the country.
One latest job opportunity that is slowly pacing up along with other jobs is that of account jobs in the Philippines. For Filipinos, who like Mathematics and playing with numerical, can definitely try building up a lucrative career in accounts jobs in the country.
Why Accounts jobs are in demand?
Accounting jobs till a few years back were not so much in demand in Philippines. But in recent time, accounting has become an important aspect of business functions in the country. We present below the top reasons why accounts jobs are prospective in the Philippines:
Increase in the demand for accounts jobs
If you have a qualification in accounting and you have passed out from a recognized institute in the country, there is a good chance of getting good accounts jobs. The reason being, there has been a great demand for accountants, especially by the emerging start-ups and MNCs operating in the country. According to a report by Business Mirror, a leading newspaper daily in the Philippines, there has been a shortage of certified public accountants (CPAs) from the local Filipinos as compared to the demand, and hence expats with relevant experience are given more preference.
Around 7000 to 8000 accountants are getting certified in the Philippines every year but the numbers are few when considered to their demand. Hence, more and more students should opt for a certified accounting course to get into prospective accounts jobs as local companies, including the overseas ones, are looking to hire more Filipino accountants. With small supply and high demand, there is a great scope of growth in accounts jobs in the Philippines for the Filipinos.
Handsome Salary Packages
The salary for finance professionals in the banking and finance industry is very high. These include accounts jobs as well. According to latest news reports, accounts jobs and accounts-related jobs are among the top incomes in the country. Especially, professionals with 1 to 5 years of experience are greatly in demand and they are paid handsome salary packages. Companies are in great need for accountants but the supply is less. That is why, most employers are luring the candidates with better pay packages.
Accounts jobs with 1 to 5 years job experience are given on an average a pay package of P27, 188. An entry-level accountant can get around P21, 345. The country, even now, gives major focus on IT and BPO jobs as a result of which candidates give more focus on these jobs and neglect the prospects of accounts jobs. Hence, those who are pursuing an accounting career can expect a great growth, when everyone else is looking for IT and BPO jobs.
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Different work environments
Another advantage in accounts jobs is that the candidates can opt for working in different industries, be the government sector or the private ones. All organizations/businesses, irrespective of the industry domains, require accounting stuff and accountants to handle accounts-related jobs. With accounts jobs in demand, candidates have the benefits of where they want to work and who they want to work for.
While in the public sector, the Bureau of Internal Revenue (BIR) in the Philippines is a good option to try for jobs, where the candidates can avail many government benefits, working in an MNC in the private sector also has its advantages of many bonuses and incentives.
To Sum up
Thus, in the Philippines, there is a great scope of growth in accounts jobs. With experience and skills, accountants also become experts to handle multiple roles like as audit, software implementation, business process improvements, etc. besides their own roles in financial reporting, analysis, accounts payable, general ledger accounting, and so on.