Entry-Level Accounting Salary
Becoming an accountant can be a tough go, with varying levels of difficulty depending on the kind of accountant you want to be. But no matter what the path, entering the profession requires years of schooling and passing entrance exams. Once you've landed a job as an accountant, you can expect to earn about $50,000, with the potential of being paid upward of $70,000. Salaries can depend on firm and market size.
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Accountant Salary Range
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Typically, an accountant working for a Big Four national firm -- Deloitte, Ernst & Young, PricewaterhouseCoopers and Grant Thornton -- can expect to earn a higher annual salary, but only after working for a number of years. The entry-level salary is generally on par with those of smaller accounting firms or even private practices. Careers in Accounting states that an accountant can expect to earn $55,000 as of 2010, but could earn as much as $70,000.
Industry's Influence on Salaries
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The industry in which an accountant works can greatly affect salary. The Bureau of Labor Statistics reports that accountants working in accounting, tax preparation, bookkeeping and payroll services earn the highest median wage at $61,480. Careers in Accounting explains that government positions pay the lowest average salary to accountants. The BLS says local government accountants can earn $53,3660 annually, while state government accountants earn $51,250 per year.
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Market Influence on Salaries
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The market in which an accountant works will play a significant role in his annual salary when getting into the business. Accountants in the state of New York earn the highest annual salary at $84,280. The District of Columbia followed at $84,390. New Jersey was third, paying an average annual salary $79,620. Maryland was next at $75,870, while Massachusetts rounded out the top five with an average annual salary of $75,030.
Entry-Level Duties
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When an accountant gets his first job, which, according to Careers in Accounting, is usually at a major national firm, he can expect to be working under the wing of an experienced accountant. If he is working in a specialized field, such as forensic accounting or tax auditing, then his duties will primarily stick to that field. However, if he is not specialized, the accountant can expect to be helping complete auditing assignments, reviewing clients' financial information or assisting bosses with larger projects. In a private accounting setting, the accountant will mostly do in-house accounting tasks such as preparing financial statements for review by an auditor.
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References
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