Sunday, September 25, 2022

Average Accountant Salary in 2018 – Income, Hourly Wages & Career Earnings

To some people, accounting isn’t exactly the most exciting jobs that a person can do. It can be tedious work, most of it involving sitting at a desk and the mass majority of it involving numbers and math. If you’re someone who likes math normally, however, accounting may seem like one of the most exciting professions in the world. You’re responsible for managing one of the most important aspects of a business, and so you’re pretty much essential to their day to day operations. However, even if you’re enticed by the idea of a career in accounting, you may be hesitant to join this field because it may not make a whole lot of money. Is that true?

It’s very common for people to avoid (or pursue) careers in certain fields due to the average pay that people in that field make. How are accountants affected by that phenomena? In this article, I plan on talking about the average salary of your average accountant. I’ll talk about how much they make and why their paid the amount that they are. I’m also going to make sure to address how factors like location, education, and experience can affect the salary of an accountant. Finally, I’ll discuss what someone has to actually do in order to enter the world of accounting. Without further delay, let’s see if we can’t crunch the numbers on this profession.

Average Salary for Accountants & CPA’s – $48,916

Your average accountant makes $48,916 per year, which is definitely a respectable amount of money for someone to make. Accounting is a sensitive and technical job, so it makes sense that someone working in this field would make this kind of money. However, that’s an average salary, which obviously means that some people are paid more and some people are paid less. What kind of factors can affect this figure? First, let’s consider how location affects the salary of an accountant. Since businesses are managed everywhere, that obviously means that accountants are needed everywhere. However, cities with a larger concentration of businesses and places of work obviously have a great need at this position. If you’re an accountant living in a city like San Francisco, New York City, Houston, or Chicago, then you’ll probably have a better time finding work than someone who doesn’t live in one of those cities. You should also be able to be paid more.

Next, let’s briefly consider how experience can affect the salary of an accountant. Although accounting is a unique field in a lot of ways, it shares a key trait with almost every other profession out there. If you have more experience, then you are paid more. It’s a basic principle, and it’s a very large part of why some people are paid the amount that they are paid. An accountant with more than twenty years of experience can make up to $10,000 more per year than someone with entry level experience. This may not seem like a large difference, but considering the relatively low salary of an accountant to begin with, it’s actually a pretty big jump. When someone pays an experienced accountant more than a less experienced accountant, they’re paying for technical knowledge, field knowledge, and intangible traits that an inexperienced accountant probably doesn’t have. An experienced accountant is a valuable asset, and they’re one that many people would gladly invest in.

Next, let’s consider how education can affect the salary of an accountant. Generally, the minimum requirement to obtain work in this field is a bachelor’s degree in accounting. However, it’s also possible for one to obtain a master’s degree in accounting. Although you’re going to have to put in a lot more work in order to get this degree, you might find that it makes a big difference for you in your career. Not only will you be seen as a more competitive applicant for a position, but you may also be seen as a more competitive candidate for a pay raise. However, the difference isn’t as large as you may think. In accounting, it’s worth a lot more to be a certified public accountant. Being a CPA is considered a large upgrade from just being your standard accountant, and so you can be paid a lot more for it.

How to become an accountant – Do you have to go to school?

If you’ve read all of the information above, then you may still be interested in pursuing a career in accounting. If that’s the case, then you have a good deal of work ahead of you. The first thing that you need to do is finish high school. In order to be an accountant, you’re going to need some form of a college education. Generally, you need to have a high school diploma or its equivalence in order to enter college. So if you’re in high school, keep doing what you’re doing and work on getting into a good undergraduate program. If you had to drop out of high school for whatever reason, then you should be happy to know that you still have a chance. I suggest that you try to get a GED, or some other similar diploma equivalence. As soon as high school is behind you, you can begin work in your undergraduate career.

As I mentioned before, the minimum requirement for most entry-level accounting positions is a bachelor’s degree in accounting. So obviously as you enter undergraduate school, you’re going to want to be studying accounting. If you plan on entering graduate school to get a master’s degree in accounting, then it’s very important that you keep up your GPA. It’s one of the factors that will be looked at during your application process into grad school. Even if you don’t want to go to graduate school, it’s still important that you keep your grades up. You should also spend this time to try and obtain field experience. See if you can’t get involved in an internship or something similar. Employers really like to see applicants that were doing more than just studying and partying in college.

Once you’re through with college, you can either head right into the workforce. Once you’ve become experienced in accounting at an entry level, you have the option of becoming a CPA. A CPA is basically a licensed accountant, and in order to obtain this license, you need to meet a few requirements. First, you need a couple of years of work experience in accounting. You also need to take a few certification exams. It’s a major hassle to become licensed, but it can seriously increase your income as an accountant. If you aren’t interested in going through that process, though, you can still reap the rewards of your labor through “traditional work” in accounting. As long as you have the qualifications and the drive, you can do pretty much anything.

jakedbriscoe@gmail.com'
Jake Briscoe
Jake is passionate about everything tech, film, and gaming related. If he's not writing you can probably catch him at a local sporting event or coffee shop.
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