Average Salary

The area of accounting currently experiencing strong growth in the number of people employed in the field. In 2004, accountants and auditors held about 1.2 million jobs in the United States. These numbers are expected to grow at a faster than average rate through 2014, mostly because of the increasing number of businesses, but also due to changing financial laws and regulations, as well as increased scrutiny of company finances.

The average salary of an accountant can vary greatly through the many different fields of accounting. An average salary of an accountant depends much on not only which area of accounting the accountant is employed, but also the geographic region in which the accountant is employed. For example, accountants, and especially Certified Professional Accountants (CPAs), in large metro areas will earn more than CPAs in smaller cities nationwide.

According to the United States Department of Labor, the average salary of an accountant, or the median wage and salary earnings of an accountant or auditor, was $50,770 in May 2004. The middle half of the occupation earned between $39,890 and $66,900. The top 10 percent of accountants and auditors earned more than $88,610 annually, and the bottom 10 percent earned less than $32,320. The U.S. Department of Labor also collected median annual earnings from May 2004 in the industries that currently employ the largest number of accountants and auditors, and the average salary of an accountant in these areas is as follows:

Federal Executive Branch of the government and the United States Postal Service - $56,900

Accounting, tax preparation, bookkeeping, and payroll services - $53,870

Management of companies and enterprises - $52,260

Local government - $47,400

State government - $43,400

According to a salary survey reported by the National Association of Colleges and Employers (NACE), candidates for bachelor's degrees, soon to be graduating in the field of accounting, received starting wage offers from a variety of sources averaging $43,269 per year in 2005, and master's degree candidates in accounting were offered $46,251 as an initial average wage.