An accountant may also work with private individuals to review tax records. Individuals who are trained as accountants may choose to work for a variety of different size companies in either the private or the public sector. Additionally, accountants may opt to work independently in their own firms. The average accountant salary will vary based on the career path an individual chooses to pursue. According Financial Forecasting For Startups to the 2024 Robert Half Salary Guide, hiring trends in accounting and finance continue to favor the job candidate.
How does an accountant’s salary compare to similar occupations?
The American Institute of Certified Public Accountants prepares the CPA exam and designs it to be a challenging barrier to career entry. Consequently, the BLS reports that less than half of the individuals who sit for the exam pass all four parts of the test on the first try. For detailed information about specific state requirements and opportunities, explore our comprehensive guides on CPA requirements by state.
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In recent years, certain industries like Hospitality, Healthcare, and EdTech have been growing and looking to hire more accountants. Sometimes, an advanced certification or a graduate degree in accounting pays off. Payscale reports that an individual with a bachelor’s in accounting earns an average of $77,000 a year, while a professional with an MBA in accounting earns an average of $80,000. These benefits of becoming a CPA clearly indicate that getting your CPA credential is one of the best career decisions you can make as an accountant or accounting student.
Why CPAs Earn More
Salaries for hundreds of positions across the Greater Toronto and Vancouver Areas defined by average, low, and high. For example, the average salary for a General Accountant in 2026 is $77,000. Entry-level salary for a General Accountant starts at $72,500, while most experienced accountants can make up to $87,500 per year. The BLS enrolled agent salary Occupational Outlook Handbook states that employment of accountants and auditors is expected to increase by 4 percent from 2022 to 2032.
You might wonder if the time and expense of earning a graduate degree can make that much difference to your bank account. Some states require 150 college credits for CPA licensure, and pursuing a What is bookkeeping master’s might make sense. But in the states that only require 120 credits, a bachelor’s degree may be sufficient. There is much more to the accounting field than simply crunching numbers. Most junior accountants begin as part of a team to prepare financial statements or audit a client’s financial statements. Public accountants often spend quite a lot of time working face-to-face with clients.
Where Should You Work as a CPA?
For instance, an accountant usually does not possess licensure or state certification. If an accountant has received a Preparer Tax Identification Number or passed the required IRs test, he or she may also prepare taxes. However, accountants may not review financial statements or conduct audits. The average accountant salary in 2025 ranges from $77,250 to $84,890 annually, depending on location and experience. Entry-level positions typically start around $57,200, while experienced professionals can earn $128,970 or more. These sectors often require accounting professionals to handle financial management, tax compliance, auditing, and other related tasks.
Employers: Get the Most Helpful Salary Data
- You may want to consider how they will affect your career—not just now, but also in the future.
- These benefits of becoming a CPA clearly indicate that getting your CPA credential is one of the best career decisions you can make as an accountant or accounting student.
- The average total compensation for a Accountant in New York City, NY is $93,627.
- To get a more specific idea for a potential accounting salary you can search various accounting roles and adjust some of these factors.
- Read on to learn more about what YOU need to know about accountant jobs and salary.
The BLS data below shows the highest average annual pay for accountants and auditors employed in web search portals, libraries, archives, and other information services. This industry encompasses companies such as LinkedIn, Meta, X, West Publishing, and Yelp. The second top-paying industry is manufacturing and reproducing magnetic and optical media, which includes such companies as Atlantic Recording, Sony, and Time Warner.
How much you can make depends on many factors, including industry of employment, specific job duties, your experience, and college education earned. Typically, but not always, areas with higher cost-of-living indexes offer a higher average wage. Many of these less affordable areas consist of desirable and densely populated states and cities on the East or West Coast. The below chart shows information about the average starting salary for accountants as well as what one can expect for other accounting salary ranges, including the average senior accountant salary. Accountants must be able to perform with professional ethics in everything they do in the workplace. Therefore, strong ethics are just as important to the accounting profession as a designation or degree.
- This exam is available to be taken during the first two months of each quarter.
- The length of time you spend as a CPA corresponds to steady average annual wage increases, as shown in the table below.
- In addition to seniority, taking continuing education courses can help you qualify for a promotion into management or leadership and boost your pay.
- Becoming a CPA can benefit you in several ways, including higher pay, job security, and increased demand.
- You might wonder if the time and expense of earning a graduate degree can make that much difference to your bank account.
- Complex tax laws and regulations also will drive demand for accountants.
- Regardless of whether you’re paid hourly or salary, there are strategies to maximize your earning potential.
What’s in the 2026 CPA Salary Guide
CPAs may earn more in large cities and densely populated areas due to a more competitive job market. Web Scribble, a career center platform, provides industry average salary information by compiling data from the U.S. Department of Labor with its own proprietary internet search of thousands of companies’ job postings.