What is the Average Salary for an Accountant?
No matter what the economy is like, the job outlook for accountants is good. Not only are accountant jobs extremely stable, but you’ll also be able to make a lot of money in this field, depending on factors such as location and employer. Let’s take a look at just how much money you can expect to make in this field.
Base Salary as an Accountant
Although there are tons of factors that can affect the salary you earn, the average salary for accounts is $68,960 or, for part time workers, $33.15 per hour. Most accountants make between $47,990 and $81,290 annually, according to the Bureau of Labor Statistics, but a sex-figure salary is definitely possible. the top ten percent of accountants make an average of $106,880 annually.
Accountant Salary by Location
Location is one of the factors that affects salaries most in any industry. Where are accountants in high demand? In most cases, this is where you’ll earn the most. According to reports, the states where you can expect to make the most:
- New York: $85,230
- District of Columbia: $84,390
- New Jersey: $79,620
- Maryland: $75,870
- Massachusetts: $75,030
More specifically, you can earn more if you work in a major city than if you work in a more rural area. Some of the top paying metropolitan areas for accountants are as follows:
- New York-White Plains-Wayne, NY-NJ: $89,220
- San Jose-Sunnyvale-Santa Clara, CA: $88,750
- Nassau-Suffolk, NY: $87,000
- Newark-Union, NJ-PA: $84,600
- San Francisco-San Mateo-Redwood City, CA: $84,590
- Haverhill-North Andover-Amesbury, MA-NH: $82,420
- Washington-Arlington-Alexandria, DC-VA: $82,360
- Bethesda-Frederick-Gaithersburg, MD: $80,850
- Oakland-Fremont-Hayward, CA: $80,160
- Edison-New Brunswick, NJ: $79,420
Looking for a high-paying job in a more rural area? Some of the top locations in the country, in terms of pay, include East- Central New York, Southwest Massachusetts, North Idaho, and North Central Colorado; in all of these locations, you can expect to earn an average of $75,000 or more!
Earning a Degree to Make More Money
Undoubtedly, one of the fastest ways to make more money as an accountant is to earn your master’s degree. you can get started in this field with just a bachelor’s degree in accounting, but by earning a master’s degree, your starting salary will be much higher and you’ll qualify for more jobs. In most areas, you need a master’s degree to qualify for the CPA exam, and being certified in the accounting field definitely allows you to make more money.
