11 Slabs Of Salaries Of Accountants

It is now an established fact that accountants are indispensable to their employers because they are the custodians of the business' finances, which is considered its lifeblood. Today more than 1.5 million auditors and accountants hold responsible jobs in the USA. This of course, is sure to grow considerably by 2014 because of changing economic laws and more regulation coming in. Salaries of accountants, therefore, vary from one sphere of specialization to another as also on geographical locations.

*Certified Professional Accountants (CPAs): CPAs in the large metros of the US earn more than their counterparts in smaller cities. According to figures published by the US Labor Department, an accountant's average salary in 2004 was $50,770. Those in the middle management rung had salaries ranging from $39,890 to $66,900, whereas the top ten per cent had an income of an amount in excess of $88,610 per annum.

Bachelor's degree holders started receiving around $43,269 per annum in 2005 while master's degree holders were given around $46,300 as an initial wage on an average. The lowest rung picked up annual paychecks of less than $32,320. The other pay scales given to accountants (either qualified or non-qualified) working in various capacities in other US government departments are as follows:

*The US Government's Federal Executive Branch: $56,900 per annum.
*The US Postal Service - $56,900 per year
*Tax preparation, payroll services, bookkeeping, and accounting: - $53,870 yearly
*Management of companies and enterprises - $52,260 yearly.
*Local government - $47,400 per annum.
*State government - $43,400 per year.

*Salaries of Accountants: Independent Surveys: In the US, an independent body called Robert Half International conducted a survey in 2005 and revealed that auditors and accountants having one year's experience commanded salaries between $28,250 and $45,000 per annum. Those having one to three years' experience were offered salaries between $33,000 and 52,000 annually. Seniors on the other hand were earning between $40,750 to $67,750. This included accounting managers with annual pay packages of $48,000 and $90,000, as also accounting and audit directors having annual paychecks ranging from $64,750 -- $200,750.

*Federal Government Accountant Salaries: A junior accountant or auditor in federal government service started at around $24,677, while master's degree holders with more than two years' work experience earned about $37,390 annually. Federal government accountant's managerial or supervisory positions earned about $74,907 yearly while auditors' paychecks were to the tune of $78,890 in 2005.

Self employed accountants or auditors' earnings are dependant on their firm size, geographical location and volume of clients serviced.