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Top 4 Benefits of an Accounting Diploma

An Accounting Diploma program benefits you by providing courses designed to get you into some of the most valuable and popular professions in Canada. Financial accounting and payroll personnel are vital members of any Canadian company, making them a necessity in our ever-growing economy.

In the time of Covid-19, accounting or payroll administrators maintained a secure position in the workforce despite an overall increase in layoffs, due to their essential roles and responsibilities.  

What are the Benefits of an Accounting Diploma?

Here are four reasons why you, just like many, will benefit from a diploma in accounting and payroll.

1. Available Advancement Opportunities

Getting a diploma in accounting can definitely give you a head start in your financial career. Starting out in the industry as a part-time accounting clerk or working in accounts payable, accounts receivable or in payroll while pursuing a bachelor’s degree can boost your chances for a promotion and advance you to management positions.

A bachelor’s degree, however, is only one option to advancing your career. Graduates of accounting and payroll programs can also become payroll administrators, who process payroll and determine the pay and benefit entitlements of employees. When enough work experience has been gained in this field, payroll administrators usually advance to supervisory or management positions. The Canadian Payroll Association also offers a Certified Payroll Manager program that helps experienced administrators in their advancement endeavours.

2. Competitive Salary

Accounting and related clerks can earn an average hourly rate of $25.80 in Alberta, with the highest hourly rate recorded anywhere between $34.62 to $49.00. Payroll administrators, on the other hand, earn an average hourly wage of $29.35, a rate that can go as high as $32.41 per hour. These professions are some of the highest-paying jobs in Canada that also have a strong career outlook.

3. Wide Range of Employment Options

The accounting and payroll sector is an essential part of any organization. Members of this profession are employed by all types of public and private sector organizations, and by contractors that manage the payroll responsibilities of companies that do not have payroll departments. This can make the job search easier for graduates, who will have the opportunity to work for a wide range of companies after post-secondary.

4. Flexibility

A career in payroll is a great opportunity for any professional to add a bit of flexibility into their lifestyle. Many companies hire external contractors to do their payroll work, requiring personnel to go in on irregular days or hours of the week. Virtual opportunities are also available in this day and age with specialized software like Quickbooks that give payroll employees remote access to their work.

Whatever your situation may be, a career in the financial industry may be right for you. Discover more of what it takes to become an accounting professional by viewing the course components required to get your foot in the door of this booming industry. 

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