Average Starting Salary for Accountants
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The document provides information on average starting salaries for accountants in the United States based on data from Robert Half International. Starting salaries can range from $26,750 to $121,250 depending on factors like position, years of experience, company size, location, and certifications. Having a CPA certification or graduate degree can increase salaries by 10-15%. Internship experience and technology skills are highly valued for entry-level candidates.
Average Starting Salary for Accountants
- 1. Average Starting Salary for Accountants What is the average starting salary for accountants? The information below was taken from the Robert Half 2008 Salary Guide: Accounting & Finance. This information is based on thousands of job searches conducted through the US offices of Robert Half International. The salary ranges are based on actual starting compensation for 2007 and an extrapolation of current data into 2008. These starting salary ranges are representative but may vary from those in your geographic area. Factors that affect salaries are type of industry, company size, the local economy, employee benefits offered, and the education and experience of the job candidate. Corporate Accounting Information Technology Auditor Position Small Company Medium Company Large Company (0-1 year) 43,250 – 52,500 45,500 – 56,250 48,500 – 60,750 (1-3 years) 49,500 – 65,000 54,750 – 69,000 57,750 – 75,500 Senior 63,500 – 82,750 68,250 – 86,500 77,000 – 99,750 Manager 75,250 – 97,250 82,500 – 108,000 89,750 – 121,250 Internal Auditors Position Small Company Medium Company Large Company (0-1 year) 38,500 – 46,000 40,000 – 49,750 42,250 – 50,500 (1-3 years) 41,750 – 56,500 47,000 – 59,750 50,500 – 64,250 Senior 53,250 – 67,250 58,250 – 74,500 65,000 – 84,000 Manager 64,250 – 81,500 71,250 – 91,500 81,500 – 109,500 Cost Accountants Position Small Company Medium Company Large Company (0-1 year) 34,000 – 40,750 37,000 – 43,250 38,250 – 46,000 (1-3 years) 38,750 – 48,750 41,000 – 52,250 44,500 – 55,750 Senior 47,500 – 59,000 51,250 – 64,250 56,500 – 72,000 Manager 54,500 – 69,500 61,500 – 78,750 70,000 – 91,000 1
- 2. Tax Accountants Position Small Company Medium Company Large Company (0-1 year) 34,000 - 39,750 37,250 – 43,750 38,250 – 46,250 (1-3 years) 38,750 – 47,250 42,250 – 52,500 43,750 – 57,500 Senior 47,500 – 59,000 48,750 – 67,000 58,250 – 74,000 Manager 54,000 – 69,500 63,000 – 81,750 72,000 – 97,000 Operational Accounting Position Small Company Medium Company Large Company Credit Manager 40,750 – 54,000 49,000 – 64,250 61,250 – 83,250 Assist Credit Mgr 34,750 – 43,000 39,750 – 49,500 48,500 – 63,250 Collections Analyst - - 39,250 – 49,500 Collections Clerk 27,500 – 33,750 28,500 – 35,750 31,250 – 38,750 Bookkeeper 31,000 – 50,500 31,000 – 50,500 31,000 – 50,500 Accounting Clerk 26,750 – 34,500 26,750 – 34,500 26,750 – 34,500 AR/AP Manager 36,250 – 46,250 41,000 – 53,750 46,500 – 64,000 AR/AP Clerk 26,500 – 34,250 28,500 – 36,500 29,000 – 37,500 Payroll Manager 36,250 – 45,750 41,500 – 55,750 49,500 – 70,500 Payroll Clerk 27,000 – 33,500 29,000 – 36,750 29,750 – 37,250 Purchasing Mgr. - 41,000 – 53,500 45,500 – 63,500 Inventory Clerk - 27,000 – 34,000 28,250 – 35,500 Public Accounting Audit, Tax & Management Services Position Small Firms Medium Firms Large Firms (0-1 year) 40,000 – 47,250 41,500 – 51,000 47,500 – 57,500 (1-3 years) 44,750 – 53,250 48,750 – 59,500 54,500 – 66,250 Senior 52,000 – 66,500 57,500 – 76,250 64,000 – 83,000 Manager 66,250 – 82,000 74,250 – 93,500 80,000 – 106,250 Sr. Mgr./Director 80,750 – 105,500 88,250 – 129,250 98,750 - 151,500 Small companies/ firms = up to 25 million plus in sales; Medium companies/ firms = 25 to 250 million in sales; Large companies/ firms = 250 million plus in sales. 2
- 3. Advanced Careers Position Small Company Medium Company Large Company CFO, Treasurer 91,000 – 138,250 121,250 – 170,250 177,750 – 370,500 V.P. of Finance 81,500 – 137,250 126,250 – 171,750 162,000 – 311,000 Director of Finance 82,500 – 119,750 97,500 – 132,500 114,500 – 191,500 Director of Acctg. 71,250 – 107,500 92,000 – 122,250 111,250 – 169,500 Controller 64,250 – 99,000 88,500 – 117,000 102,500 – 161,500 Tax Director - 93,250 – 138,000 125,250 – 217,500 Tax Manager - 71,500 – 95,250 88,500 – 123,750 Internal Audit Dir. 92,500 – 125,500 111,250 – 156,500 140,500 – 213,750 Compliance Officer 66,500 – 84,000 80,000 – 101,750 85,250 – 88,000 Regional Differences The salaries for accountants working in the South Atlantic region (Delaware, District of Columbia, Florida, Georgia, Maryland, N. Carolina, S. Carolina, Virginia, W. Virginia) are typically higher-paying than the U.S. average. In larger cities such as Miami, the salary range is currently averaging up to 15% higher and in Orlando, 4% higher. Keep in mind that the smaller cities and rural areas typically fall below the U.S. average. Fastest-Growing Industries in the Positions in Demand in the South Atlantic: South Atlantic • Healthcare • Internal auditor • Commercial real estate • Staff accountant • Financial services • Senior accountant Value of Certification Having a professional certification such as a Certified Public Accountant (CPA) or graduate degrees can increase your salary by 10% to 15%. 3
- 4. The CPA designation remains the most in-demand accreditation for a variety of positions. The CPA credential paired with an MBA degree is a sought-after combination for controllers and chief financial officers as well as for senior financial analysts. Employers also seek candidates with designations such as the certified credit executive (CCE), certified fraud examiner (CFE), certified internal auditor (CIA), certified information systems auditor (CISA), certified management accountant (CMA), and certified payroll professional (CPP). In addition, businesses are hiring accountant who can assist the information technology (IT) department with projects such as systems conversions, enterprise resource planning (ERP), software implementations, and internal controls. Getting the Job Most Valuable Attributes for Entry-level Job Candidates: (source: Robert Half survey of 1,400 CFOs) 50% - Internship experience 24% - Referral from trusted contact or employee 8% - College or university attended 5% - Grade point average 1% - Work experience / previous experience 10% - Other / don’t know Most Valuable Attributes between Competing Candidates with Similar Skills: “If two candidates interviewing for an accounting or finance position had similar skills, which one of the following additional qualifications would you find most valuable?” (source: Robert Half survey of 1,400 CFOs) 41% - Internship 33% - Software/ technology knowledge 15% - Certification or advanced degree 7% - Multi-lingual skills 3% - International experience 1% - Personality/ people skills Source: 2008 Salary Guide: Accounting & Finance from Robert Half International ® Compiled by: The Florida Institute of Certified Public Accountants, 2008. 4