Everyone wants to make money, right? Earning an accounting credential can be just the boost you need to start taking control of your financial future and increase your earning potential.
Whether you choose to pursue a career path toward becoming a Certified Public Accountant, Certified Management Accountant, Certified Internal Auditor, Certified Information Systems Auditor, Enrolled Agent, Charted Financial Analyst, Certified Fraud Examiner, or any of the other accounting certifications out there – the average salary for a finance professional can vary greatly depending on many variables including an individual’s accounting experience, years of experience they have within their field or industry, the job market within their region, and demand for the position within their location within the United States or around the world.
If you’re about to complete or have just completed your Bachelor’s degree or Master’s degree and you’re preparing to embark on your first accounting job as an entry-level employee, it’s very likely you will not be earning close to as much as accounting professionals that have years of experience within their field. Don’t let this discourage you – most CFOs and other C-Suite Executives, partners, and senior-level employees have started from the bottom at some point. Part of the journey toward reaching your maximum earning potential is gaining work experience at every level; every work experience is valuable throughout your accounting career.
Do some research to determine which career path is best for you, fulfill your experience requirements, and get started on the journey toward a financially, professionally, and personally fruitful career as an accounting professional.
Visit the Robert Half Salary Guide to learn more about in-demand accounting careers and their associated earning potentials.
Which accounting credential are you thinking about pursuing?
Let us know in the comments!
Joshua “JJ the CPA” Jenson: Joshua Jenson, CPA, here. If you’re thinking about pursuing an accounting designation – take it from me, JJ the CPA – you are on the path toward a really lucrative career. From entry-level accountant to the chief financial officer, you’ll be in a unique position to use your financial expertise to help both individuals and businesses alike. Not to mention you have an opportunity to earn a pretty good annual salary which only increases as you gain years of experience and build on your skill set.
According to the 2019 Robert Half Salary Guide, financial professionals are in high demand. Some of the most sought after positions include accounting manager, controller, financial analyst, internal auditor, payroll manager, senior accountant, and staff accountant. Some of the most in-demand technology skills include knowledge about artificial intelligence, cloud-based systems, Excel, Quickbooks, and real estate software including MRI and Yardi. Some very valuable and highly sought after soft-skills include adaptability, flexibility, cross-functional collaboration, and strong work ethic. While some of these hard skills may not apply to every financial position out there, these soft skills are invaluable to professionals at every level, in every position!
It’s important to keep in mind throughout this video – these salary ranges will change depending on where you are in the United States or around the world. The city, town, state, and country you’re in will impact your starting salary and annual salary. Each region has its own unique cost of living and demand for certain roles. This means while you might earn $46,000 as a starting salary in one place, your starting salary in a more populated area – or an area where that position is in higher demand – could be $65,000. Do some research to find out what other people in the position you’re going for, with the same years of experience that you have or comparable, are making in your region.
So – let’s get down to it. How much can you actually make in one of these roles?
An accountant with 1-3 years of experience can make anywhere from $51,000 to $96,500. Those with 3-5 years of experience can make anywhere from $59,750 to $113,250. More than 5 years of experience can earn you $68,000 to $129,250.
An IT auditor with up to 1 year of experience can earn anywhere from $42,250 to $80,250. Those with 1-3 years of experience can earn anywhere from $62,250 to $119,000. Senior level internal auditors can earn anywhere from $72,750 to $145,750 annually.
If you’re interested in working in any one of the country’s government agencies, there are a ton of positions there as well. Financial Reporting Analysts working within SEC – or the United States Securities and Exchange Commission – can earn anywhere from $67,750 to $129,000 per year.
Accounting salaries range greatly depending on job title and, as mentioned, job demand and location. We’ve only named a very small fraction of the jobs on this salary guide, so feel free to check out Robert Half’s 2019 Salary Guide for yourself.
So, I got a question: what position are you thinking about going after? Let us know in the comments!
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