The Average Starting Salary for Accounting
Accounting is a growing field of employment. The starting compensation depends on several qualifications, focusing mostly on education and experience. While careers in both the public and private sectors are rewarding, public accounting careers pay more early on. After obtaining a Certified Public Accountant (CPA) license, the private sector may provide more compensation.
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Accounting Positions
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Accounting jobs can have strict requirements for new employees due to the technical nature of the industry. Many recent graduates with accounting degrees start in public accounting firms, where earning a professional license is a bit easier than a position in a private company.
Non-degree Positions
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Individuals with no accounting education usually qualify for bookkeeping assistants and accounting clerks. These positions are hourly and annual compensation is in the range of $20,000 to 30,000, according to a July 2009 PayScale survey.
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Entry Level - Public
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Entry-level accountants at public accounting firms with no experience earn $50,800, according to the PayScale survey. An accounting degree is required for public accounting firm positions.
Entry Level - Private
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Entry-level positions at private businesses or large corporations start around $41,342, based on the same PayScale survey. A degree is usually required for this position, although several years of bookkeeping service may be substituted.
Staff Accountant
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Most staff accountants have anywhere from 1-4 years of experience. Accountants at public firms earn $52,775, while private firms pay $42,635, according to PayScale's July 2009 survey.
Senior Accountant
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Senior accountants have from 5-9 years of experience and may supervise other accountants. Seniors at public firms earn $63,102, while private firms pay $57,216, based on the July 2009 PayScale survey.
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