Need to Set a Salary Range for an Accountant? PayScale Fills in Your Compensation Data Gaps
We have received numerous questions from HR professionals and business owners wondering what people in various job positions and industries are paid. So, with this post, we offer you the second in a series of analyses and up-close views we’ll be taking of the salary ranges for many different jobs.
According to the U.S. Bureau of Labor Statistics the “faster-than-average growth of accountant and auditor jobs will result from an increase in the number of businesses, changing financial laws and regulations, and greater scrutiny of company finances.”
With predicted industry growth and change, setting salary ranges for accountants in the future could be a moving target. That’s why it is important to use accurate and up-to-date statistics when developing a formal compensation plan. PayScale’s accounting salary guide helps you determine accountant salary ranges by looking at factors like the type of industry they work in, how big the organization is, and how much you pay someone who has their CPA.
PayScale’s market data reveals that the two cities that pay accountants the most are New York and Los Angeles; however, when you take into account the high cost-of-living in these cities an accountant might want to look for work in Dallas, which comes in as a close third and has a much lower cost-of-living.
The average salary by years-of-experience does not vary much from the lowest bracket of less than one year of experience to the highest of 20 years or more. The difference between the two is roughly $6,000. This means people just starting out can earn a healthy salary, but may need to specialize or take on a managerial role as they continue on in order to up their earnings.
The Federal Government wins out as the highest paying employer in this industry.
For accountants, the larger the company, the more they tend to make.
The cities that pay accountants the most are New York and Los Angeles.
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Are you doing a salary review or compensation benchmarking project? PayScale provides up-to-date, external salary market data you can use right now. And, it is specific to the education, skills set and experience your employees. Give a PayScale demo a try.
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