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Accountants are well-compensated compared to other professions with similar education requirements, though the salary that you can earn as an accountant is dependent on several factors, including your geographic location and level of education and experience. In this article we have given a glance on Accountant Salary in United States and their average salary.
The Bureau of Labor Statistics (BLS) notes that candidates with a master’s in accounting may have an advantage in the job market. Certified public accountant (CPA) or other certifications like chartered financial analyst (CFA) or certified internal auditor (CIA) can also increase a candidate’s base salary and provide opportunities for promotion. Additional factors that may determine your compensation level include your negotiating skills, the size of the company, and the industry you work in (e.g. insurance, tax preparation, healthcare, and so on).
A person working as an Accountant in United States typically earns around 65,700 USD per year. Salaries range from 32,900 USD (lowest) to 102,000 USD (highest).
This is the average yearly salary including housing, transport, and other benefits. Accountant salaries vary drastically based on experience, skills, gender, or location.
Average base salary
The median, the maximum, the minimum, and the range
Accountant salaries in United States range from 32,900 USD per year (minimum salary) to 102,000 USD per year (maximum salary).
The median salary is 65,700 USD per year, which means that half (50%) of people working as Accountant(s) are earning less than 65,700 USD while the other half are earning more than 65,700 USD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Accountant(s) are earning less than 44,400 USD while 75% of them are earning more than 44,400 USD. Also from the diagram, 75% of Accountant(s) are earning less than 83,800 USD while 25% are earning more than 83,800 USD.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated.
How Much Does an Accountant Make?
Accountants made a median salary of $73,560 in 2020. The best-paid 25 percent made $97,530 that year, while the lowest-paid 25 percent made $57,110.
The BLS reports that the median annual wage for accountants and auditors nationally was $71,550 as of May 2019.1 The top-earning 10% of accountants and auditors earned more than $124,450, while the lowest-earning 10% earned less than $44,480.1 The top-paying industries for accountants and auditors were accounting, tax preparation, bookkeeping, and payroll services ($83,460 per year); management, scientific, and technical consulting services ($81,730 per year); and real estate ($77,830 per year).
Source link: https://www.mastersinaccounting.info/
Salaries by years of experience in the United States
An Accountant with less than two years of experience makes approximately 39,400 USD per year.
While someone with an experience level between two and five years is expected to earn 52,200 USD per year, 32% more than someone with less than two years experience.
Moving forward, an experience level between five and ten years lands a salary of 69,800 USD per year, 34% more than someone with two to five years of experience.
Additionally, Accountant(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 83,200 USD per year, 19% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 89,800 USD per year, 8% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 96,300 USD per year, 7% more than people with fifteen to twenty years of experience.
Salary Comparison by Years of Experience
Top companies for Accountants
Average salary difference by education level
Salary Comparison by Gender
Male Accountant employees in United States earn 4% more than their female counterparts on average.
Where do Accountants earn more in the US?
More critical skills and qualifications that pay well
Frequently asked questions
How much does an Accountant in the United States make?
The national average salary for an Accountant is $60,057 per year in the United States. Filter by location to see an Accountant’s salaries in your area. Salaries estimates are based on 26210 salaries submitted anonymously to Glassdoor by Accountant employees.
What is the highest salary for an Accountant in the United States?
The highest salary for an Accountant in the United States is $87,779 per year.
What is the lowest salary for an Accountant in the United States?
The lowest salary for an Accountant in the United States is $41,091 per year.
Accountants (s) in the United States are likely to observe a salary increase of approximately 11% every 15 months. The national average annual increment for all professions combined is 8% granted to employees every 16 months.
- Salary Guides from Robert Half: Provides data and analysis of starting salaries, hiring environment, and general financial services trends.
- Association of International Certified Professional Accountants: AICPA is a membership-driven organization that provides professional development and career and salary information specifically for CPAs.
- National Society of Accountants: The NSA provides career resources for working professional accountants in various sectors of industry.