Differences in Pay for Accountants and Senior Accountants
Those entering the accounting field can expect to make higher salaries as they progress through their career. The starting pay for many accountants is low, but for those in a business-related profession, the earning potential remains strong. Differences in pay for accountants and senior accountants are determined by various factors such as location, size of the accounting firm and even the area of accounting specialization.
Other People Are Reading
-
Pay Scale
-
The average salary for accountants in the United States was $68,960 per year, as of May 2010, according to the Bureau of Labor Statistics. The median salary was similar to this at $61,690 per year. However, these salaries do not provide an indication the differences between senior and junior level accountants. Instead, the bureau indicates that the upper 25 percent of those working in the accounting field made salaries from $81,290 and up in 2010. This is the typical pay range for those working as senior accountants. Those who made $47,990 or less occupied the bottom of the pay scale.
Company Size
-
According to the University of Arkansas at Monticello, accountant salaries for both senior level and junior level accountants can vary by company size. According to the university's website, senior level accountants in small companies can expect to make between $47,500 and $59,000 per year, at of the time of publication, while those in medium-sized companies can make between $48,750 and 67,000. Senior accountants in larger companies can expect to make anywhere from $58,250 to $74,000. Salaries for junior level accountants vary from $34,000 to as high as $57,500 per year, depending on company size and years of experience.
-
Experience
-
Experience plays a role in how much the accountant can expect to make. The University of Arkansas at Monticello also notes that first-year accountants made salaries ranging from $34,000 to $46,250, depending on company size. Those with one to three years of experience can generally expect to make about $38,750 to as high as $57,500 per year.
Job Outlook
-
The overall job market for accountants should be favorable through 2018, according to the Bureau of Labor Statistics. The bureau indicates that job growth is expected to occur at a rate of 22 percent above the employment level reported by the bureau. The bureau indicates the emphasis upon accountability in the business world will be one of the primary motivating factors behind this job growth.
-
References
- Photo Credit Jupiterimages/Photos.com/Getty Images
