Senior Accountant Salary Range

As accounting professionals advance through the ranks, they often begin the journey as an accounting clerk. These professionals move into a position as a staff accountant, then move up to senior accountant. As these professionals enter the accounting field, they might wonder how to prepare for their futures as senior accountants, and what their expected salaries will be.

Work Experience

Senior accountants typically spend several years working in the accounting field before earning this title. At the beginning of their careers, they spend time filing paperwork, entering transactions into the accounting system or verifying data. As the employee advances into senior positions, he creates journal entries, reconciles financial accounts or creates reports. According to the Institute of Management Accountants, senior accountants with more than 15 years in the field earned an average salary between $109,000 and $118,000.

Industries

Senior accountants work in a variety of industries, including manufacturing, finance and medical services. In the manufacturing industry, these accountants analyze efficiencies and determine product costs. In the finance industry, senior accountants consider the profitability of lending money to specific customers. In the medical services industry, senior accountants review the cost impact of serving clients with various types of insurance. Compensation levels for this position vary with each industry. Senior accountants working in the manufacturing industry earn an average salary of $108,000, according to the Institute of Management Accountants. In the finance industry, senior accountants earn an average salary of $103,000. In the medical services industry, senior accountants earn an average salary of $104,000.

Certification

Senior accountants receive their initial training by attending college and earning a bachelor's degree in accounting. Many senior accountants further develop their qualifications by pursuing certification as a certified public accountant or a certified management accountant. Certification requires the accountant to pass a national exam in addition to earning a degree and working in the field. According to the Institute of Management Accountants, the average salary for a certified senior accountant ranged from $106,000 to $122,000.

Compensation

Senior accountants typically receive a competitive compensation package in exchange for their services. According to the Bureau of Labor Statistics, the salary range for an accounting professional was between $45,000 and $78,000 in May of 2008. Senior accountants also receive standard benefits, such as medical insurance, life insurance and vacation time. High-ranking senior accountants sometimes receive company vehicles or individual expense accounts.

References

• United States Department of Labor Bureau of Labor Statistics Occupational Outlook Handbook, 2010-11 Edition: Accountants and Auditors
• United States Department of Labor Bureau of Labor Statistics: Accountant
• "Strategic Finance"; IMA 2009 Salary Survey; David L. Schroede, Lee Schiffel and Kenneth A. Smith, CPA; June 2010.