February 18th, 2013
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Warning! Accounting Careers Can Make You Wealthy
Those who work as an accountants have the job of helping their businesses to manage money properly. In doing so, many focus on providing aid in money management matters such as balancing accounts, monitoring profits and expenses and aid in recording all financial transactions taking place within a business. As a result, their job is often to alert business owners or executives of critical financial concerns. Those that do their job well can earn a very lucrative salary as a result.
An accountant or those working in auditor positions often earn a base salary. In 2010, the median pay in this field was $61,690 per year. That means that about half of those working in this field made more than this and about half made less than it. The lowest ten percent in this career field earned about $38,940 per year. Those in the top ten percent of their field earned $106,880 per year.
What Factors Affect Earnings?
The amount of money that an accountant earns varies for several reasons. In some cases, the earnings are based on the type of company the individual works in. For example, those who work in a small business will likely earn less than those who work in a larger, corporate entity. Those who work in some industries earn more as well, simply because the company is earning more.
Another factor that plays a role in the process is the actual type of job done by the individual. Those who are doing tasks to manage the entire company’s accounting needs will be paid more than those who may only be handling the tax aspects of the job. The more diversification in the field, the less potential earning the individual will have.
Experience also plays a role in this. Those who have more leadership type roles will earn more. Those who are just entering the field will earn less than those who have proven skills. However, the type of education an individual has can also play a role in this process. Those who have a masters degree or hold a CFA designation are likely to earn more than those who do not.
In the United States, most accountants work 40 hours per week. Only about 20 percent work more than 40 hours in any given week. Most of the time, they do work banker’s hours of 9 to 5. However, some will work longer and more hours during various times of the year, such as during tax reporting times and at the budget year-end.
Those who wish to work as accountants will have the ability to earn a sizable salary. Some may receive bonuses when they help the company to excel by properly managing and reporting financials. When compared to other corporate jobs, accountants and auditors tend to earn more than those who are working in other aspects of business and financial operations. They earn nearly double that of the average wage in the country as well. This could be the ideal career path for you.
What is an Accountants Salary?
On average an accountant in the US can expect to earn approx $62,000 per annum.
Top accountants with experience can earn in ecxess of $100,000 per annum.