Aside from region and education, factors such as specialty, industry, and employer influence an accountant salary. Pipeline transportation of crude oil ($123,230); computer and peripheral equipment manufacturing ($123,210); other information services ($112,900); securities, commodity contracts, and other financial investments and related activities ($107,610); and the federal executive branch ($107,170) are the top-paying places of employment for this career. Many accountants are full-time employees. Accountants typically have busier schedules during tax season and at the end of each fiscal year.
What are the Top 10 Best Cities for Accountant Jobs?
We’ve identified ten cities where the average salary for an Accountant is higher than the national average. Atkinson, NE tops the list, with San Mateo, CA and Deer Park, CA close behind in second and third place. Deer Park, CA outperforms the national average by $13,392 (23.5%), and Atkinson, NE outperforms the national average by another $27,954 (49.0%).
With average salaries higher than the national average in these ten cities, the opportunities for economic advancement by changing locations as an Accountant appear to be extremely fruitful.
However, another factor to consider is that the average salary for these top ten cities varies only slightly (24% between Atkinson, NE and Petaluma, CA), implying that significant positive wage advancement may be difficult to achieve. The possibility of a lower cost of living may aid in determining the appropriate balance of location and salary for the accountant role.
Salary of an Accountant Based on Years of Experience
The most important factor in determining salary is the level of experience. Naturally, the more years of experience you have, the higher your salary. This is what we discovered after breaking down Accountant salaries by experience level.
Accountants with less than two years of experience earn around $39,000 USD per year.
Someone with two to five years of experience is expected to earn 52,200 USD per year, 32% more than someone with less than two years of experience.
Moving forward, someone with five to ten years of experience earns 69,800 USD per year, 34% more than someone with two to five years of experience.
Furthermore, Accountant(s) with ten to fifteen years of experience earn 83,200 USD per year, which is 19% more than someone with five to ten years of experience.
If you have fifteen to twenty years of experience, you can expect to earn 89,800 USD per year, which is 8% more than someone with ten to fifteen years of experience.
Finally, employees with more than twenty years of professional experience earn 96,300 USD per year, which is 7% higher than those with fifteen to twenty years of experience.
Salary Comparison for Accountants Based on Education
We all know that a higher education leads to a higher salary, but how much more can a degree add to your earnings? In order to compare Accountant salaries, we divided them by education level.
The average annual salary of an Accountant with a High School diploma is 49,400 USD.
A person with a Certificate or Diploma earns 56,300 USD per year, which is 14% more than someone with a High School diploma.
A Bachelor’s Degree earns its holder an average annual salary of 76,300 USD, 36% more than a Certificate or Diploma.
Professionals with a Master’s Degree earn an average annual salary of 96,300 USD, 26% more than those with a Bachelor’s Degree.
Accountant Bookkeeping, Accounting, and Audit Clerk Jobs – Average Salary $45,140
A bookkeeping, accounting, and audit clerk’s job in an organization is to create final records and double-check them for accuracy. These financial professionals also keep financial transaction records and keep financial statements up to date.
The average accountant salary for a financial analyst is $103,020.
A financial analyst advises businesses and individuals on investment decisions. A financial analyst monitors stocks, mutual funds, bonds, and other relevant investments in order to assist clients in making the most informed decisions possible.
Average Accountant Salary for a Financial Advisor: $119,960
A financial advisor counsels clients on all financial matters, including investments, insurance, mortgages, college savings, estate planning, taxes, and retirement. Financial advisors assist clients in planning for life events that will affect their finances and in monitoring their accounts to ensure that they meet their financial objectives.
Average Accountant Salary for a Financial Manager: $153,460
A financial manager’s responsibilities extend beyond simply overseeing an organization’s finances. These financial professionals create financial reports, manage investment activities, and develop long-term financial plans for their company. Chief financial officer, controller, treasurer, finance officer, credit manager, cash manager, risk manager, and insurance manager are all examples of financial manager jobs.
FAQ
Q: What is the average salary for an accountant?
A: In 2021, the lowest-paid accountants earned $47,970 per year, while the highest-paid earned $128,970.
Q: How much does an accountant make in California?
A: In 2021, accountants in California earned an average salary of $92,840.
Accountant Salary vs. Other Best Jobs
In 2020, the average salary for accountants was $81,660. In 2020, comparable jobs earned the following average salary: Financial Managers earned $151,510 per year, Financial Advisors earned $122,490 per year, Financial Analysts earned $96,630 per year, and Bookkeeping Accounting and Audit Clerks earned $44,100 per year.
Q. Why should I study accounting?
Accountants make a difference in both business and society. They prepare and review financial data used by investors, lenders, businesses, and other organizations all over the world. Accountants can also help with taxes, financial planning, information systems, and a variety of other business issues.
Accounting degrees provide students with a highly valuable, versatile, and in-demand skill set, as well as fluency in business language.
Accounting careers range from auditing, tax accounting, and cost accounting to managerial accounting, with several professional certifications available for each. In addition to entrepreneurship, there are opportunities in public accounting, government agencies, and corporations.
Advantages
Towson University’s business administration and accounting programs are both accredited by AACSB International—The Association to Advance Collegiate Schools of Business (AACSB). This dual accreditation is the highest honor bestowed upon a business school and is held by less than 1% of institutions worldwide. It demonstrates that the program adheres to stringent quality standards and is committed to continuous improvement.
Our accounting programs place a strong emphasis on both academics and applied learning. Through case studies, volunteer opportunities, and internships, instructors teach students how to apply what they’ve learned in the classroom to real-world situations. To graduate, all students must complete at least one professional internship.
