The average starting salary of an accountant can range depending on the experience and style of the individual. However, there are many factors that usually affect the starting salary of an accountant, such as your degree, what field you work in, your title, and your location. After reading this article, you’ll have a better idea of how much money to expect from employers.
Accounting professionals have entered the hottest job market in history. The Bureau of Labor Statistics (BLS) reports a 6-9% increase in accounting occupation projections from 2016 to 2026. Accountants should rejoice in this projected growth, as it is incredibly difficult for a profession to hold such growth during a time period. This means that the demand for accountants will continue to pour in as ever-growing businesses need the services provided by an accounting professional.
Average starting salaries for accountants
The average starting salary for accountants at major companies and departments is $40,240. Of course, some of these places also offer additional benefits such as medical coverage, retirement plans, daycare assistance, etc., which can vary widely.
If you hold a bachelor’s degree, the average starting salary for accountants is $38,400. This also includes bonus pay and commissions. The top paying states for accountants are Alaska, California, New York, and Texas. However, location is not the only factor in determining salaries. Some factors that can determine salaries include the industry an accountant works in, their title or position within an organization (a junior accountant will have a different salary than one who is more senior), field of study at university and having an MBA degree.
While most companies offer average salaries, there are some in certain industries and regions that exceed the average for affordable accounting salaries. Other factors which impact an accountant’s salary include the experience of the accountant, geographic location and seniority. We will examine these factors to give you a better idea of what you can expect as an entry-level accountant.
If you are unsure of what to look for in a good accountant, we hope we answered most of your questions. Happy researching!
Accounting majors leave college earning the most money, although those with a degree in engineering or nursing earn even more. Other majors such as political science or art earn a surprisingly good salary for their first job. There is no doubt that majors such as political science and art pay off for college graduates, but why are engineering and nursing paying off so much compared to other college majors?
