In 1998, the median annual earnings of accountants and auditors were $37,860. The middle half of the occupation earned between $29,840 and $49,460. The top 10 percent of accountants and auditors earned more than $76,160, and the bottom decile earned less than $23,800. Accountants and auditors earn slightly more in urban areas. In 1997, median annual earnings in the industries employing the largest numbers of accountants and auditors were: Accounting, Auditing, and Bookkeeping $38,100
State Government, except Education and Hospitals 35,900
Federal Government 43,100
Local Government, except Education and Hospitals 36,400
Commercial Banks 35,700
According to a salary survey conducted by the National Association of Colleges and Employers, bachelor’s degree candidates in accounting received starting offers averaging $34,500 a year in 1999; master’s degree candidates in accounting, $36,800.
According to a salary survey conducted by Robert Half International, a staffing services firm specializing in accounting and finance, accountants and auditors with up to 1 year of experience earned between $26,000-$36,250 in 1999. Those with 1 to 3 years of experience earned between $29,250-$41,250. Senior accountants and auditors earned between $34,750-$51,000; managers earned between $41,750-$68,500; and directors of accounting and auditing earned between $56,250-$91,000 a year. The variation in salaries reflects differences in size of firm, location, level of education, and professional credentials.
In the Federal Government, the starting annual salary for junior accountants and auditors was about $20,600 in 1999. Candidates who had a superior academic record might start at $25,500, while applicants with a master’s degree or 2 years of professional experience usually began at $31,200. Beginning salaries were slightly higher in selected areas where the prevailing local pay level was higher. Accountants employed by the Federal Government in nonsupervisory, supervisory, and managerial positions averaged about $58,200 a year in 1999; auditors averaged $62,500.
Please note that the earnings and salary data listed here is usually from government sources and may be dated, so please make adjustments accordingly. If you would like to access current salary data for literally thousands of occupations.
Answered By: DesiKuri - 12/11/2008