27/05/2024

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Did You Know That Accounting Salaries Can Range From $45,000 to $160,000?

Did You Know That Accounting Salaries Can Range From ,000 to 0,000?

Accounting salary is not a one-size-fits-all as it depends on a number of factors ranging from certification to the present economic conditions and the hiring procedures. And salary can vary from the entry level accountant to someone with more qualifications and experience.

You can even expect a good salary with the adequate accreditation and experience in these tough times. People wrongly believe that salaries for accountants have nosedived after the meltdown.

Type of firm and operations

The market is the ultimate decider for the job of accountants and to kick start the economy, more capital and money is pumped in. It would require some real time services of accountants and an entry level accountant salary can range from $45,000 to $70,000 a year. The job can require public audits, looking after accounting procedures and tax management. The salary will also depend on the type of firm you are joining as well as its area of operations.

Many firms with a global presence pay more and your salary could depend on economic conditions of the country you are posted in. If you are in the US, you get paid according to living conditions of the country and in the event of being shifted elsewhere; the host nation would have a bearing on your salary structure.

Salary also varies between a small, medium and a large sized firm. Senior accountants can also make $90,000 to $160,000 a year.

It is the nature of the accounting job that decides the payment and if you are into public accounting, you can expect fatter pay packets. Your experience would also come into play when a salary is offered and the level of portfolios you would be assigned. For public accounting jobs, you can expect a great pay structure and that would also depend on the type of company you would be working for. Larger firms are also known to pay more than the rest.

Certification and experience

It is the comfortable salary that is attracting many young men and women to accounting jobs. And unlike sales jobs, you don’t have to travel continuously and would be required to stick to your system or notebook.

Even if you are working for three years as an accountant, you can easily increase your earnings by getting more accreditation. Certification usually enhances accounting salary like all other jobs and the more you are adept at raising your chances the better.

If you are CPA, you can make more money unlike those without certification. Your field experience will come into play also while deciding on salary. If you are specialized in a particular area of accounting and can cater to a niche job market, you could be up for grabs. Your best bet would be with private companies as government jobs however big, offer low accounting salary.