The Average Salaries of Management Accountants
Management accountants work for major corporations and accounting firms. They record and analyze the financial results for their firms or clients, including revenue, direct costs and capital investments spent on office equipment and other large expenditures. These professionals also establish company budgets and assist with major projects like new product introductions. Management accountants also write reports for managers, executives and shareholders. They typically earn annual salaries. Some also receive incentives like bonuses and profit sharing.
Other People Are Reading
-
Annual Median Salary
-
Management accountants hold various titles in companies. CFOs or chief financial officers, the highest-ranking management accountants, earned median salaries of $61,207 to $233,766 per year, according to 2011 data from PayScale.com. Median salaries appear in the middle of salary lists and can vary somewhat from average salaries. Finance directors earned annual median salaries between $69,463 and $170,949. And management accountants earned median salaries of $48,124 to $96,738 per year. PayScale often uses ranges for median salaries, which, in this case, represent incomes for the middle 50 percent of all management accountants; or those in the 25th and 75th percentiles.
Median Salary by Experience
-
All management accountants typically earn significantly more as they gain experience. For example, those with less than a year of experience earned annual median salaries of $45,000, per PayScale.com. Those with one to four years of experience earned median salaries of $53,354 per year. With five to nine years of experience, these professionals earned median salaries of $70,813 annually. Those with 10 to 19 years of experience earned annual median salaries of $90,053. And with 20 or more years of experience, management accountants earned median salaries of $102,575 per year.
-
Median Salary by Industry
-
Management accountants' salaries can vary significantly by industry. For example, those in the food manufacturing industry earned the highest annual median salaries, among those listed, at $100,561, according to PayScale.com. These financial professionals earned their second-highest median salaries in the information technology or IT services industry at $95,484 per year. Those in the IT services industry help companies transmit and receive data, text and images by Internet or other communication media. Management accountants in manufacturing and distribution earned comparatively lower median salaries at $76,181 per year.
Median Salary by City
-
Management accountants earned their highest annual median salaries, among those listed, in Los Angeles at $97,436, per PayScale.com. Those in New York City earned the second-highest median salaries at $95,883 per year. These professionals earned significantly lower median salaries in Atlanta, Chicago and Minneapolis at $82,349 $81,654 and $81,022 per year, respectively. Management accountant salaries often vary by city because of living standards. For example, the cost of living in New York City and Los Angeles are higher than other areas of the country.
-
References
- Photo Credit Hemera Technologies/PhotoObjects.net/Getty Images
