The Average Income of Accountants
Accountants analyze financial information, budgets and tax information for individual clients and corporations. The accountant ensures records are kept accurately and tax documents are filed correctly and on time. Professionals in this field provide organizations with cost management, performance evaluation and budgeting. The average salary of an accountant is from $35,542 to $51,476, as of December 2010, according to Payscale.
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Education
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Employers usually require a minimum of a bachelor's degree to work in an accounting position. The education of the accountant can factor into the salary she earns. Accountants with a Master of Business Administration degree earn salaries of $40,279 to $56,511, while those with a Bachelor of Arts in accounting earn a salary range of $38,168 to $50,021, according to Payscale. An accountant with a Bachelor of Business Administration earns a salary of $38,834 to $54,094.
Experience
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Accountants with the greatest number of years experience in the field earn the highest salaries, Payscale shows. For example, accountants with 20 years of experience or more can earn a salary range of $40,480 to $57,276, while those with less than a year as an accountant earn a lower salary range of $34,281 to $45,159.
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Employer Type
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Accountants work in the accounting department of a company, for the government or for a private firm. Accountants can also be self-employed and work for businesses and individual clients. The highest-paid accountants work for the federal government with an average salary range of $42,560 to $59,898, as of December 2010, according to Payscale. Professionals working in a company earn an average of $38,393 to $51,745, while self-employed accountants earn a salary range of $31,394 to $49,818.
Location
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The salary of accountants varies by location because of the cost of living and demand for accountants. For example, accountants in California earn a salary up to $57,798, while those in Pennsylvania earn an average salary up to $47,950. The cost of living is 23 percent higher in Los Angeles than in Philadelphia, according to My Salary.
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References
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