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An internet presentation of the Occupational Outlook Handbook plus related career guidance information

Occupational Outlook Handbook, 2004-05 | All Occupations

The section of the ocouha website contains the text of the 2004-05 Occupational Outlook Handbook. This information is no longer being updated. For more recent information, start at the ocouha homepage www.ocouha.com.

Business and financial operations occupations

  • Accountants and auditors
    • Most jobs require at least a bachelor’s degree in accounting or a related field.
    • Overall job opportunities should be favorable, although jobseekers who obtain professional recognition through certification or licensure, a master’s degree, proficiency in accounting and auditing computer software, or specialized expertise will have an advantage.
    • An increase in the number of businesses, changing financial laws and regulations, and increased scrutiny of company finances will drive growth of accountants and auditors.
  • Budget analysts
    • Almost half of all budget analysts work in Federal, State, and local governments.
    • While a bachelor’s degree generally is the minimum educational requirement, many employers prefer or require a master’s degree.
    • Competition for jobs is expected.
  • Claims adjusters, appraisers, examiners, and investigators
    • Adjusters and examiners investigate insurance claims, negotiate settlements, and authorize payments; investigators deal with claims where there is a question of liability and where fraud or criminal activity is suspected.
    • Most employers prefer to hire college graduates.
    • Competition will be keen for jobs as investigators, because this occupation attracts many qualified people.
  • Cost estimators
    • Over half work in the construction industry and another 20 percent are employed in manufacturing industries.
    • Growth of the construction industry will be the driving force behind the demand for cost estimators.
    • In construction and manufacturing, job prospects should be best for those with industry work experience and a bachelor’s degree in a related field.
  • Financial analysts and personal financial advisors
    • A college degree and good interpersonal skills are among the most important qualifications for these workers.
    • Although both occupations will benefit from an increase in investing by individuals, personal financial advisors will benefit more.
    • Financial analysts will face keen competition for jobs, especially at top securities firms, where pay can be lucrative.
  • Insurance underwriters
    • Because insurance is considered a necessity for people and businesses, there will always be a need for underwriters.
    • Most large insurance companies prefer college graduates who have a degree in business administration or finance with courses in accounting; however, a bachelor’s degree in any field — plus courses in business law and accounting — may be sufficient to qualify.
  • Loan counselors and officers
    • Loan officer positions generally require a bachelor’s degree in finance, economics, or a related field; training or experience in banking, lending, or sales is advantageous.
    • Average employment growth is expected for loan officers despite rising demand for loans, because technology is making loan processing and approval simpler and faster.
    • Earnings often fluctuate with the number of loans generated, rising substantially when the economy is good and interest rates are low.
  • Management analysts
    • Thirty percent are self-employed, about one and a half times the average for other management, business, and financial occupations.
    • Most positions in private industry require a master’s degree and additional years of specialized experience; a bachelor’s degree is sufficient for entry-level government jobs.
    • Despite projected faster-than-average employment growth, intense competition is expected for jobs.
  • Tax examiners, collectors, and revenue agents
    • Tax examiners, collectors, and revenue agents work for Federal, State, and local governments.
    • A bachelor’s degree in accounting is becoming the standard source of training; in State and local government, an associate degree in accounting or related tax and accounting work experience may be sufficient.
    • Employment is expected to grow more slowly than average over the 2002-12 projection period.
    • Because of the relatively small number of openings, jobseekers can expect to face competition.
  • Business operations specialists, all other
  • Financial specialists, all other

See the Occupational Outlook Handbook in print.