You’re interested in learning what is the average salary for an accountant – you’ve come to the right place. There’s a lot more to it than this, but those are my three main takeaways. Let’s first answer the question “How much do accountants make?” – and then have a little fun by taking a look at 11 outrageous facts about accountants that you may or may not know.
Many beginning students often wonder what is the average accountant salary? The AICPA actually provides a comprehensive breakdown of how much accountants make in each state. They also include a breakdown of state by city. For example, Chicago’s average accountant salary is $77,000.
According to the Bureau of Labor Statistics, accounting majors make an average of $43,790 a year. If a starting accountant wants to know how long it will take them to go from entry-level to senior, they would need to know how much they can expect their salary to increase every year. Knowing this information is also beneficial because it makes it easier for people who want to decide whether or not they should pursue a career in accounting.
What is the average salary for an accountant
Introduction
The average salary for an accountant is $$$. Accountants can earn more as they gain experience, but this number also varies based on location and other factors.
Per-hour salary
The average wage for an accountant is $44.44 per hour. This figure includes all types of accountants, including those who work on tax forms and those who work in public accounting firms. The hourly wage can be broken down further into year-round, full-time earnings of $89,380 (or $41.36 per hour), which comes out to about $22 per hour for someone working a 40-hour week every week throughout the year. If we were to consider more accurate figures for part-time employees, we’ll see that someone working 30 hours per week would earn about half as much as their full-time counterpart—about $45,000 annually or about $18.50 per hour each week in earnings over 52 weeks (assuming they don’t take any vacation).
Annual salary
You may have read about the average salary for an accountant in the United States, but what about Australia? Or Canada? And what about India? It’s important to keep in mind that there are huge discrepancies between countries and regions when it comes to salaries. In general, though, this is what you can expect:
- The average annual salary for an accountant in the United States is $71,000. This figure includes both salaried accountants and self-employed accountants who work freelance or as independent contractors.
- In Australia, the average annual salary for an accountant is AU$80,000 (AU$70k/year if you’re a certified public accountant [CPA]).
- In Canada and Europe, CPAs earn more than their peers who aren’t certified—but not by much: €70k/year ($73k) versus €50k/year ($52k).
Location
Location is a factor in salary, and the location of your job can either help or hurt your salary as an accountant. Location can affect the salary of an accountant in either positive or negative ways. For example, if you are working for a company located in New York City, this would be considered one of the highest paying locations because there are so many companies that do business in New York City and therefore have higher salaries across the board for their employees. On the other hand, if you work for a company located somewhere like Georgia, which is one of those states with lower taxes than New York City but still offers good jobs to accountants and other professionals alike; then their salaries may not be as high as some might expect them to be simply because they live near where they work rather than having better opportunities available elsewhere (such as say California).
These things make all kinds of sense when we think about how important it is when choosing where we want our lives – but what about something less tangible like happiness? We all know how hard it can feel sometimes just getting through each day without feeling overwhelmed by everything else going on around us: stress at school or work; frustration over relationships with friends or family members; anxiety over self-image issues…the list goes on forever! Sometimes those feelings become so overwhelming that they start affecting our ability both physically & mentally – making us feel depressed & even suicidal at times.”
Company size
If you work for a small company, you can expect to earn less than if you work for a large company. The average salary increase from one size business to another is about $10,000 per year.
While most companies offer accounting-related positions, there are some that specialize in specific areas of finance and accounting. For example, an investment firm or bank might only hire accountants with knowledge of the financial markets or real estate development firms might hire only those with experience in rezoning property or eminent domain issues. As such, it’s important to learn what type of careers exist within your field before applying for jobs so that you can focus on applying where they match up best with your qualifications.
Work experience
Work experience is the most important factor in determining an accountant’s salary. An experienced accountant will earn more than a new hire, and the longer you’ve been on the job, the more money you can expect to make.
If your education is focused on accounting and finance, then it’s time for you to start looking for an entry-level job as an accounting assistant or accountant trainee. You’ll have plenty of experience at this point since we’ve already discussed various work scenarios related to these positions earlier in this guide (you can refer back if needed).
Education level
In the US, the average salary for a CPA is $73,000. However, this number can quickly increase if you have more education and/or experience in your field. For example, CPAs with at least one year of experience as an accountant earn an average of $67,000 per year; those with five years of experience earn roughly $90,000; then accountants who’ve been practicing for more than 20 years receive about $132k annually.
However, what is considered “more” education? It’s important to remember that there are different types of degrees: associate’s degrees (two-year programs), bachelor’s degrees (four-year programs), master’s degrees (either two or three years long) and doctoral degrees (five years or longer). Each degree level requires varying amounts of coursework and fieldwork—and therefore tends to pay higher salaries.
location, education, and experience all make a difference in an accountant’s salary
Location, education, and experience all make a difference in an accountant’s salary. If you’re in a high-cost-of-living city like New York or San Francisco, your salary will reflect that. In rural areas with lower costs of living, the same job title might pay much less. The same goes for location within a state: an accountant working near the shoreline may earn more than one who lives in the middle of nowhere. Most accountants have at least some college education—but more schooling means higher salaries and greater opportunities down the road (such as being able to perform specialized tasks). Finally, more experience leads to more skills and better titles: Junior Accountants make less than Assistant Accountants but more than Entry-Level Accountants do; Senior Associates earn substantially more than those below them on their respective career paths.
Conclusion
Accountants have a wide range of responsibilities, and as such, their salaries can vary wildly. The good news is that there seems to be strong demand in this field right now, so if you’re interested in the accounting profession you shouldn’t have much trouble finding a job. And while it’s true that some schools offer better education than others, it doesn’t seem necessary to go to a prestigious school—you just need a solid foundation in accounting and business principles. Finally, don’t forget about the importance of location: as we showed above, moving from one city or region to another can make significant differences in your salary.
