Being a number crunching accountant can be a demanding career, however, dealing with digits for long hours doesn’t mean you won’t have time to spare.
Here are five side jobs that accounting professionals can do on their free time to make extra money.
Do you love sharing your knowledge about the challenging field of accounting? If so, being a lecturer could be the perfect job you can do on the side. One of the highest paid college professors in the United States, Graeme Rankine, is an accounting professor. Earning a massive $493,000 per year, he made it onto the list of the most expensive lecturers at Thunderbird School of Global Management back in 2013.
You probably will not make as much as Rankine, but you can still earn a decent amount, especially if you have a higher degree. With Maryville’s Master of Science in Accounting, for instance, you can fetch a higher payout compared to someone with only a Bachelor’s degree and comparable experience.
- Business Consultant
If there’s someone who can provide valuable advice, especially in finance and government compliance for businesses, it would be an accountant. If you have extensive experience in business and you love helping business owners solve issues with their business processes, you can look for a consultancy job.
Depending on what the business needs, you could be involved in finance, budgeting, tax matters, and auditing.
If you are an accountant with a regular eight-to-five job, you can still do accounting work on the side for other clients. Of course, you need to observe ethical obligations, but it’s not unusual for accounting professionals to handle other clients’ finances. By doing this you can help businesses manage various accounting tasks without having to hire an accounting firm.
- Write for an Accounting/Finance Blog
This side job can pay well depending on which platform you write on. Many publications will pay top dollar for articles written by professionals in the field. If you are writing for your own blog and you are just starting out, don’t expect to make much money in the beginning – it is hard to make real money for new bloggers. If you already have a solid following, it is far easier to monetize your blog.
Needless to say, there’s a market out there for accountants with impressive writing skills.
- Start Your Own Business
Every business needs an accountant. If you are an accountant with a proclivity for entrepreneurship, you will be able to save the accountancy cost by doing your own accounting within your own business. As an accountant, you also know the ins and outs of taxation, how to finance business operations, and compliance with government regulations.
Starting a business on the side is a promising career prospect which has the potential of growing into your main focus in the future.