A person who has the authority to verify and review the accuracy of financial records and make sure that the company complies with tax laws is known as an auditor.
An auditor may work in many capacities within different industries. In simple words, an auditor is a person who is appointed to inspect the books of accounts of a company.
Pros and Cons of Being an Auditor
|Advantages of being an auditor||Disadvantages of being an auditor|
|As an auditor, you can work on many other projects||1. As an auditor busy sessions can be stressful|
|An auditor can build a strong network||2. A auditor’s work-life balance is rather limited|
|An auditor can work for many other clients||3. Other jobs pay better for similar work|
|An auditor can earn a decent amount of money||4. Auditors have to work long hours|
|An auditor can work indoors||5. Student loan debt is rather common|
|An auditor has a high level of job security||6. Being an auditor can be boring|
|Good exit option||7. Auditors are often not fully independent|
Advantages of Being an Auditor
As an auditor you can work on many other projects:
It is an advantage to being an auditor that you can work on many different projects in your career. You can work on a project for some weeks or months and then move on to the next project.
Doing rather exotic audits often only lasts for a few weeks. Hence, being an auditor, you can see many types of projects in a short period of time and this makes you gain knowledge a lot.
An auditor can build a strong network
As an auditor, you can work for many clients, and so you will build a strong network. That is why in the future there may be many doors open for you. Your customers will try to headhunt you as they would like to have you in their companies.
Moreover, as an auditor, you can meet with another auditor in a company and you will know how to deal with them in a proper manner.
An auditor can work for many other clients
Being an auditor, you cannot only work on many types of projects but also you can deal with many different clients.
It is common that an auditor to work for a client for a certain period of time and then move on to the next client for a different project. It will be challenging for you to meet new projects and new people and you can learn so much from this.
An auditor can earn a decent amount of money
Being an auditor, you can earn a decent amount of money in your career. The average salary of an auditor is around 70k in US dollars.
Some auditors may have an income in six figures. Hence, you can afford many nice things and also can live a decent lifestyle.
An auditor can work indoors
Another advantage of being an auditor is that you can work indoors. There are many other people who have to go out for work in cold or hot summers.
But you as an auditor can avoid those situations to work outdoors as you can work indoors and the weather condition will not matter to your working days.
An auditor has a high level of job security
There is a kindly regular change in rules and regulations which are related to financial audits. Hence, there are chances to have a lot of work to do in the future.
Almost every year new guidelines and regulations are introduced and the companies have to struggle to deal with these things.
Good exit option
As you can learn so many things from new and different projects, you will be experienced enough to do any similar job. If you are a good auditor then you can easily get job offers every week and you can have many choices to change your field for this job as an auditor.
Hence, with this increase of work, you will have high job security in the future in this post of auditor.
Disadvantages of Being as An Auditor
As an auditor busy sessions can be stressful
Apart from the advantages of being an auditor, there are some disadvantages too. One among them is, being an auditor you have to take a lot of pressure and it is quite stressful work.
Especially, during the busy time when you will have to work on different types of projects.
An auditor’s work-life balance is rather limited:
As an auditor, you have to work at least 10 hours per day. This means there will not be much time for you to spend with your family or friends or to spend time with yourself.
Thus, you have to sacrifice your own time. If you are not willing to sacrifice your time then you should seek some other job.
Other jobs pay better for similar work
While being an auditor you can earn a decent amount of money but on the other hand, a similar job often pays more than this.
While you are working for more than 10 hours a day, other people in another job can earn more than you working for 10 hours. If money is really important to you, then you should change your profession.
Auditors have to work long hours:
As you have to handle many different types of projects at a time, you will have to work for pretty long hours, even if it could take double shifts.
While on the other hand your friend or other people in other jobs can leave work in the afternoon as per their shifts. But in your case sometimes the night shifts will also be necessary. Hence, before making the decision of being an auditor, make sure that you are a hard worker.
Student loan debt is rather common
It is also the biggest disadvantage that some of the auditors have to pay back a large number of student loans. As it is common to take a student loan for middle-class people to afford education on this subject.
While student loans make your college time more enjoyable because you do not have to worry about the amount of your college period, but with the letter, you have to pay back the debt.
Being an auditor can be boring
Being an auditor can be boring because you have to work on different types of projects and you will not get enough time for yourself. You have to read pages and pages to find the information which you are looking for.
After a while, many auditors become tired of their work and try to do something else for leaving.
Auditors are often not fully independent
Even if you work for the best auditing firm, then also you will not have full freedom. As the best or big auditing companies also offer consulting services, these companies do not want to lose their clients so they have huge work pressure and in the chain system, you also have to take the pressure.