How Much Do Accountants Make?

How Much Do Accountants Make

An accountant’s job is to manage the financial records of a company. They typically make a median salary of $70,500 a year.

Explore this Guide:

What Do Accountants Do?

Accountants can also be called auditors or bookkeepers. They are the ones that make sure a company’s financial records are correct. They are also often in charge of a company’s budgeting, expenses, investments, taxes, and payroll. Accountants will also create reports to assess a company’s financial wellbeing and advice a business on how they can do better.

How Much Do Accountants Make with a Bachelor’s Degree

1. Get a Bachelor’s Degree

+4 year

The first thing you’ll want to do if you want to become an accountant is get a bachelor’s degree. The typical bachelor’s degree takes about 4 years. You will want to major and/or minor in accounting or a similar field like business, business administration, mathematics, or internal auditing.

But you can also start working at a company as a junior accountant without a college degree. Then you can work your way up in the job to someday become a full accountant after gaining real-world experience. However, receiving a bachelor’s degree will allow you to move upward in your career much faster.

2. Become a Certified Public Accountant (CPA)

As an accountant, you might need to file reports with the Securities and Exchange Commission (SEC). If this is the case for you, then you’ll need to be certified by law as an accountant.

Even if your job doesn’t involve the SEC, you might want to get certified as an accountant anyway. Becoming a certified accountant will help you get better, high paying jobs.

To become a certified accountant, go to your state’s Board of Accounting to take the national exam, the Uniform CPA Examination from the American Institute of Certified Public Accountants (AICPA), and meet any other state requirements. Many states require their accountants to do 150 semester hours of college coursework, which is an extra 30 hours more than a 4-year degree.

Ask your school if they offer a 5-year program to combine a bachelors and masters to get that 150 credit hour requirement. You can also use work experience to count as these hours. To keep your license you have to continue your education while you practice accounting as well.

How long does it take to become an Accountant?

Accountants can start working as junior accountants right now. But if you want the best-paying jobs, you’ll want to go through the time of getting your degree and accounting license. If you do this, becoming an accountant can take about 5 years total.

Skills Accountants Need

Analytical Skills One of the primary skills accountants need is the ability to analyze records and data. They need to have a keen eye for spotting errors and coming up with financial solutions and advice. They might need analytical skills to detect and prevent fraud or to ensure taxes are done correctly.

Organizational Skills Accountants work with a lot of documentation, files, and information. They need to be able to accurately and effectively organize all of this information. Organization is especially important for accountants because their main job is to ensure accuracy in their files.

Mathematics Accountants need to be able to do math. They work with analyzing, comparing, interpreting, and calculating numbers all day long. Their math skills particularly need to be geared toward finances and accuracy.

Different Kinds of Accountants

How Much Do Accountants Make

  • How Much Do Finance and Insurance Accountants Make? $74,690
  • How Much Do Account Managers Make? $73,180
  • How Much Do Tax Accountants Make? $70,640
  • How Much Do Government Accountants Make? $68,420
  • How Much Do Forensic Accountants Make? $150,000
What do forensic accountants do?

Forensic accountants work for the government. They are investigative accountants that look into “crimes against property.” Forensic accountants investigate fraud and can work for government departments, accounting firms, corporate security, law firms, and financial consulting firms.

Forensic accountants might have to give testimony in court trials, provide evidence, and work in civil disputes that have to do with property and other assets.

If you want to become a forensic accountant then you’ll need some specific credentials from the Association of Certified Fraud Examiner (ACFE), Certified Fraud Examiner (CFE), the American Institute of Certified Public Accountant (AICPA), and the Certified in Financial Forensics Credential (CFF).

How much do forensic accountants make?

Forensic accountants have a lot of earning potential. Entry-level forensic accountants generally start by making about $50,000, but as they progress from analyst to manager to supervisor they can make as much as $150,000 a year.

How Much Do Accountants Make a Year?

How Much Do Accountants Make

  • How Much Does a Accountants in the lower 10% Make? $43,650 per year
  • How Much is an Accountant’s Median Salary? $70,500 per year
  • How Much Does a Accountants in the highest 10% Make? $122,840 per year

How Much Do Accountants Make a Month?

How Much Do Accountants Make

  • How Much Does a Accountants in the lower 10% Make? $3,637 per month
  • How Much is an Accountant’s Median Salary? $5,875 per month
  • How Much Does a Accountants in the highest 10% Make? $10,236 per month

How Much Do Accountants Make a Week?

How Much Do Accountants Make

  • How Much Does a Accountants in the lower 10% Make? $575 per week
  • How Much is an Accountant’s Median Salary? $808 per week
  • How Much Does a Accountants in the highest 10% Make? $1,196 to $1,355 per week

How Much Do Accountants Make an Hour?

How Much Do Accountants Make

  • How Much Does a Accountants in the lower 10% Make? $14.38 per hour
  • How Much is an Accountant’s Median Salary? $20.21 per hour
  • How Much Does a Accountants in the highest 10% Make? $29.90 to $33.89 per hour

Accountants Pay by Location

How Much Do Accountants Make

  • How Much Do Accountants Make in Texas? $79,360
  • How Much Do Accountants Make in California? $83,910
  • How Much Do Accountants Make in Florida? $72,630
  • How Much Do Accountants Make in NYC (New York City)? $98,650
  • How Much Do Accountants Make in Ohio? $73,380
  • How Much Do Accountants Make in the District of Columbia? $103,930
  • How Much Do Accountants Make in New Jersey? $91,960

Accountants Pay by Experience

How Much Do Accountants Make

  • How Much Do Entry Level Accountants Make? $46,250
  • How Much Do Accountants Make with 1–4 years of experience? $49,212
  • How Much Do Accountants Make with 5–9 years of experience? $54,957
  • How Much Do Accountants Make with 10–19 years of experience? $56,008
  • How Much Do Accountants Make with 20 or more years of experience? $57,564

 

Some accountants can even work from home! Working from home can have a lot of perks, but if you need help covering expenses while you figure out where you want to take your career, consider taking out a Check City Personal Loan in the meantime.


Sources


US Bureau of Labor Statistics. “Accountants and Auditors.”

US Bureau of Labor Statistics. “An Overview of Forensic Accounting.”

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