Adding It All Up: Salary and Compensation for Accountants and Auditors


076/365  I am accountant...
076/365 I am accountant… (Photo credit: david anderson : da-photography)

Via — MastersInAccounting.org

Improving your credentials is a wise investment in almost any career, and that’s certainly true for those who work in accounting and related fields. Let’s explore recent trends in salary and compensation.

$61,690- Median salary for accountants and auditors

16% – Job growth through 2020, which is about average for all occupations

Similar jobs

Positions in fields related to accounting are expected to grow in the next decade. Here’s a look at their median pay rates

Bookkeeping, accounting and auditing clerks – $34,030
Budget analysts – $68,200
Cost estimators – $57,860
Financial analysts – $74,350
Financial examiners – $74,940
Financial managers – $103,910
Management analysts – $78,160
Personal financial advisers – $64,750
Tax examiners, collectors and revenue agents – $49,360
Top executives – $101,250

It Pays to Be the Boss

Accountants and other financial sector workers who advance into management positions can expect to see their paychecks increase. That’s no big surprise, but what may come as a shock is the extent to which earning additional certifications can make an accountant’s wallet especially heavy.

Certified public accountant  – CPA certification is the most common certification in the accounting world, required by most accounting firms, regardless of other certifications.

Certified management accountant – The CMA certification designates a professional in the areas of cost management, internal control auditing, decision analysis and forecasting. CMAs are responsible for choosing and maintaining accounting information systems.

They also analyze reports generated by those same systems.

31% – Additional salary earned by professionals who have certifications vs. those who don’t

Age isn’t a factor:

Certified accountants in the youngest age bracket (19-29) earn nearly $20,000 more in salary than non-certified peers

Staying ahead:

Certified professionals in the 60+ group earn $28,000 more per year than their non-certified counterparts.

Average salary by management level, certification, education and gender

Go West

Accountants’ salaries on average are the highest in the Western U.S. Here’s a look at regional and state-by-state differences.

Regions

West Coast region – $132,423
Mid-Atlantic region – $123,969
Northeast region – $119,059
Plains region – $108,143
South region – $106,451
Midwest region – $105,842
Mountain region – $101,893

State-by-state

  • CT – $93807
  • MA – $117923
  • ME – $103851
  • NH – NA
  • RI – $92750
  • VT – $112169
  • DC – $124180
  • DE – $158211
  • MD – $98107
  • NJ – $147502
  • NY – $123712
  • PA – $118060
  • VA – $113367
  • WVA – $101723
  • AL – $105746
  • AR – $127178
  • FL – $106250
  • GA – $102265
  • KY – $96509
  • LA – $141417
  • MS – NA
  • NC – $118745
  • SC – $94683
  • TN – $93232
  • IA – $101309
  • IL – $131789
  • IN – $87967
  • MI – $104002
  • MN – $106075
  • MO – $100351
  • OH – $103756
  • WI – $98015
  • KS – $134740
  • ND – $93580
  • NE – $90074
  • OK – $102250
  • SD – NA
  • TX – $108573
  • AZ – $100353
  • CO – $93807
  • ID – $107404
  • MT – NA
  • NM – $95729
  • NV – $137375
  • UT – $97586
  • WY – NA
  • AK – $267500
  • CA – $139104
  • HA – NA
  • OR – $111872
  • WA – $107632
  • * NA figures unavailable

SOURCES

– http://www.imanet.org
– http://www.bls.gov/ooh

Adding It All Up: Salary and Compensation for Accountants and Auditors

Source: Adding It All Up: Salary and Compensation for Accountants and Auditors

 

 

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