Wages for Accounting
Accountants hold a variety of positions, says the U.S. Bureau of Labor Statistics. For instance, public accountants handle financial and tax activities for their clients. Managerial accountants handle cost and efficiency for business clients. Forensic accountants combine accounting and legal experience to examine illegal activities. Accountants' salaries may be increased by bonuses and profit sharing.
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National Average Wages
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As of 2010, the national average wage for accountants is between $37,000 and $51,000 a year, according to PayScale. Bonuses add anything between $700 and $3,500 annually, and profit sharing can add another $1,000 to $3,300 annually. The U.S. Bureau of Labor Statistics states that the top 10 percent of accountants earn $102,000 a year.
Wages Based on Experience
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National data collected by PayScale proves experience influences accountants' salaries. For example, an accountant with only a year or less of experience can earn between $34,000 to $45,000 a year. However, an accountant with 10 years of experience can earn as much as $55,000, and an accountant with 20 years in the industry can make $57,000 annually.
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Work Environment
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Most accountants work in the usual office setting, says the U.S. Bureau of Labor Statistics, though accountants who work for multiple firms may have to travel between them to provide their services. About half reported working 40 hours a week, as of 2008, while the other half reported working beyond those hours.
Job Prospects
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The U.S. Bureau of Labor Statistics anticipates a job increase of 22 percent over the 2008 to 2018 projection decade. These opportunities are expected to be driven by the growing number of businesses, combined with increasing tax complexity and a greater emphasis on financial accountability.
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References
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