The accounting industry is full of great job opportunities. Whether you are looking to get a profession in the industry or you are interested in understanding the different job titles, here is a quick guide to understanding what account executives do within the financial field.
Account Executive Description
When it comes to the job title ‘account executive’, this is in use in many different industries. Therefore, depending on the area you work in, you’ll have different responsibilities. In this guide, we are focused on the financial industry and especially the accounting world.
In accounting companies, an account executive is often the person in charge of the accounts for a specific client or the firm itself. Account executives often deal with the everyday running of the specific account and very often, they only deal with a few accounts at a time.
It is often a senior level position and account executives may be in charge of the biggest clients in the accounting company. Account executives are often in charge of the big decisions regarding the client’s accounts.
Account executives are in charge of many different duties. Naturally, it depends a lot on the amount of clients they look after at any given time. But their day-to-day activities often include things like:
- Reporting – they often write detailed reports to senior staff as well as the client about the accounts. Reports also include suggestions regarding the plan of action and notifications on any recent developments in the field.
- Budgeting – because account executives need to have a great understanding of financial matters, they also help with budgeting.
- Supervising – account executives often help hire in new personnel as well as supervise them. They might also train new accountants and ensure that the new personnel get accustomed to the business.
Although the blog refers to account executives in the marketing industry, this The Admission blog post is great for understanding what a typical day entails for an account executive. There are plenty of similarities in how the account executive deals with clients in both the marketing and the financial world.
Salary and Qualifications
When it comes to the qualifications, you need to have specialist knowledge in the field you want to work in. Often account executives have a degree in Finance and Accounting or another related subject. Previous experience in an account management role is also a positive advantage and you often need a few years of work experience before you can get an account executive role.
The salary prospects are also quite good. According to the Salary Track websites, account executives often make around £31,000, but there are plenty of opportunities for higher earnings as well.
Working as an account executive can be very rewarding. There are plenty of opportunities in the field. If you require an accounting company to help your business, then you might also be in touch with an account executive. Hopefully, the above information helped you understand the position little better, whether you want to work in the field or just want to know who you are dealing with.
If you are interested in more accounting and finance related subjects, then you can look at our resource page for more information.