Do you want to work in accounting? Find out more information about qualifications and job outlook as well as salary ranges. Here are the five highest paying accounting jobs. Then, get in touch with us to learn more. We'll help you make the right choice! We will be watching for positions that match your skills and interests. This information will be kept up-to-date as the field changes.
Qualifications
Accounting careers can be very rewarding. However, the pay scales will vary depending on the specialty and your experience. Earning your CPA license can earn you significantly more money and open many doors for advancement. Other professional certifications you may pursue, including the Certified Internal Auditor (CFA) and Certified Fraud Examiner (CIA), will also help increase your salary. A college degree is not necessary for a career as an accountant, but additional certifications and education can help you get a better job.
An accountant may be a good choice if your passion is numbers and you enjoy working with numbers. This profession has steady demand across the country and offers high salaries. You will have many career options if you earn a bachelor's in accounting. You might also consider getting your CPA certification. This usually requires additional college coursework. You might consider a career as forensic accountant depending on your experience.
Salary ranges
There are many different salary levels for accounting careers, but some are more lucrative. The highest salaries are usually earned by senior professionals. The salary range for senior accountants, auditors, and cost accountants is between $70,000 and $120,000 per year. The range may be lower if you are an intern or an entry-level employee. Depending on your education level and experience, you can make between $57,110-$128,680 per annum.
Accounting and Finance professionals earn an average of 117,000 USD per annum. This means that half of Accounting and Finance professionals earn less than this annual salary, and the other half make more. Therefore, the median wage is the middle-ofthe-road wage. Ideally, you want to fall on the right side of this graph. In general, salaries are more competitive if you have more experience. The average annual salary for an Accountant is 125,000 USD.
Outlook for the Job
The U.S. Bureau of Labor Statistics tracks and projects an 11% increase in the number of accountants and auditors by 2021. A strong demand will exist for personal financial advisers, tax examiners, financial managers and tax inspectors. According to the Bureau of Labor Statistics in 2017, the average accounting major salary was $57,250. This number will vary depending on the local job market, your skills, and your experience.
Accounting jobs are well-positioned and the salaries available to them are highly competitive. People with high professional and educational skills have plenty of options. Salary ranges widely between regions and experience is a key factor in determining what you get paid. While salaries can vary between cities, the costs of living in some areas may make it more expensive to live there. The outlook for accountants remains positive. The industry of accounting continues to grow, and technological advances are bringing in new jobs. Students should choose their specialty, the qualifications they require, and the salary range before considering a career in accounting.
FAQ
How do I know if my company requires an accountant?
Accounting professionals are hired by many companies when they reach certain levels of financial success. For example, a company needs one when it has $10 million in annual sales or more.
However, some companies hire accountants regardless of their size. These include small companies, sole proprietorships as well partnerships and corporations.
A company's size doesn't matter. Only what matters is whether or not the company uses accounting software.
If it does, then the company needs an accountant. It doesn't if it doesn't.
What is a Certified Public Accountant, and what does it mean?
A C.P.A. is a certified public accountant. An accountant with specialized knowledge is one who has been certified as a public accountant (C.P.A.). He/she can prepare tax returns for businesses and assist them in making sound business decisions.
He/She also keeps track of the company's cash flow and makes sure that the company is running smoothly.
What does an auditor do?
Auditors look for inconsistencies among the financial statements' information and the actual events.
He confirms the accuracy and completeness of the information provided by the company.
He also verifies the validity of the company's financial statements.
Statistics
- The U.S. Bureau of Labor Statistics (BLS) projects an additional 96,000 positions for accountants and auditors between 2020 and 2030, representing job growth of 7%. (onlinemasters.ohio.edu)
- According to the BLS, accounting and auditing professionals reported a 2020 median annual salary of $73,560, which is nearly double that of the national average earnings for all workers.1 (rasmussen.edu)
- Employment of accountants and auditors is projected to grow four percent through 2029, according to the BLS—a rate of growth that is about average for all occupations nationwide.1 (rasmussen.edu)
- Given that over 40% of people in this career field have earned a bachelor's degree, we're listing a bachelor's degree in accounting as step one so you can be competitive in the job market. (yourfreecareertest.com)
- a little over 40% of accountants have earned a bachelor's degree. (yourfreecareertest.com)
External Links
How To
How to Become an Accountant
Accounting is the science and art of recording financial transactions and analyzing them. Accounting can also include the preparation of reports or statements for various purposes.
A Certified Public Accountant or CPA is someone who has passed an exam and received a license from the state board.
An Accredited Financial Analyst (AFA) is an individual who meets certain requirements set forth by the American Association of Individual Investors (AAII). A minimum of five year's investment experience is required before an individual can be made an AFA. They must pass several examinations to prove their understanding of securities analysis.
A Chartered Professional Accountant, also known as a chartered accountant or chartered accountant, a professional accountant who holds a degree from a recognized university. CPAs must adhere to the Institute of Chartered Accountants of England & Wales' (ICAEW), specific educational requirements.
A Certified Management Accountant or CMA is a professionally certified accountant who specializes only in management accounting. CMAs must pass exams administered by the ICAEW and maintain continuing education requirements throughout their career.
A Certified General Accountant is a member of American Institute of Certified Public Accountants. CGAs have to pass several tests. One test is known as the Uniform Certification Examination.
International Society of Cost Estimators, (ISCES), offers the Certified Information Systems Auditor (CIA), a certification. CIA candidates must complete three levels of study consisting of coursework, practical training, and a final examination.
Accredited Corporate Compliance Office (ACCO), a designation conferred by the ACCO Foundation as well as the International Organization of Securities Commissions. ACOs must hold a baccalaureate or higher degree in business administration, finance, or public policy. Additionally, they must pass two written and one verbal exams.
The National Association of State Boards of Accountancy's Certified Fraud Examiner credential (CFE), is awarded by NASBA. Candidates must pass three exams and obtain a minimum score of 70 percent.
The International Federation of Accountants (IFAC) has accredited a Certified Internal Auditor (CIA). The four-part exam covers topics such as auditing (auditing), risk assessment, fraud prevention and ethics, and compliance.
An Associate in Forensic Accounting (AFE) is a designation given by the American Academy of Forensic Sciences (AAFS). AFEs must be graduates of an accredited college or university that has a bachelor's in accounting.
What is an auditor? Auditors are professionals who audit financial reporting and internal controls of an organization. Audits can be conducted randomly or based upon complaints from regulators regarding the organization's financial reports.