The accounting profession was among the 20 most profitable industries over the past 12 months, according to a study by Sageworks Inc., a financial-information company. Sageworks combed through the financial statements of thousands of privately held companies to identify the most profitable for this study.
On a pretax basis, services-based businesses have been the most profitable. Topping the list is “other financial investment activities,” with a 16.26% pretax net profit margin (see chart). This category excludes securities dealers and commodity contracts dealers, but includes other sellers of financial contracts and could include portfolio managers and those who provide trust, fiduciary, and custody services.
Dentists, accountants and bookkeepers, legal services, office administrative services, technical and trade schools, and other health practitioners (including chiropractors, physical therapists, and podiatrists) are listed among the top 20 most profitable industries. Outpatient care centers and death-care services, or funeral homes, also made the list.
Employment in these key industries is expected to grow as the economy perks up and companies strive to make up for years of recessionary pressures. Prospective job candidates that target the accounting and other profitable industries are likely to find greater employment prospects, higher wages, and longer-term employment opportunities in the new economy.
Image via Sageworks
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