With the realization of impending skills shortages, the accounting sector across Canada is showing a greater attraction to both younger students and those acquiring new skills to enter the accounting field. This group represents a real solution to the upcoming needs of each firm and industry for the days ahead.
As a result of economic growth, employment in British Columbia is expected to grow by an average of 1.8 percent each year through to 2019, creating a total of 450,000 new jobs. Approximately 676,000 additional jobs will become vacant due to retirements. In total, there will be an expected 1,126,000 job openings over the next decade. Interestingly, 77% of all these new jobs will require some post-secondary education.
Source: BC Labour Market Strategy to 2020 (p5) http://www.workbc.ca/WorkBC/media/WorkBC/Documents/Docs/Skills_for_Growth_Strategy.pdf
For BC accountants it is estimated there will be over 20,000 job openings by 2020, 67% of which will be due to retirement and 33% due to expansion.
Source: http://www.workbc.ca/Navigator/occupations/1431
These openings will be filled by a combination of new graduates, international students and new immigrants. The candidates who land these jobs will have their success, not by education alone, but by performing an active job search and communicating their new education effectively along with any relevant skills they have demonstrated in any role.
New graduates, or anyone adding new education to their portfolio of skills, must be ready to communicate the strength and relevance of their education with confidence within networking conversations, information interviews, cover letters, resumes, interviews and even follow up. The DAP program stands out as a premier program in Canada for preparing students and providing a successful bridge to prepare for the CPA designation. In fact, during the CPA recruiting activities alone, DAP students continue to secure employment at a much higher ratio than their undergrad counterparts. However, it is important to be aware, having a specific degree or diploma does not guarantee anyone a job. It takes additional efforts to get a job. Relying solely on education without being active in job searching strategies results in extended unemployment. Alternatively, leveraging the education to market a preparedness for the field has great benefit.
In order to get the best out of your education experience consider the following:
- Learn well. Grades will help you get noticed and may be used as part of the screening criteria and/or when final selections are made.
- Document learning and create marketing statements to prove your understanding of core competencies.
- Create two line descriptions of projects or “case questions” you worked on and your successes for use on your resume and/or cover letters
- Remember to bring the best out of your undergrad education as well, even though it may be from a different faculty and discipline. There is value there worth communicating to your new potential employer.
- Start your job search experience at the beginning of your education experience. If you have already delayed, START NOW!