Accounting Degree Salary: What Can I Expect to Make as an Accountant?
Accounting isn’t for everyone; for the many people out there who hate math, the mere mention of it calls to mind a life of unending drudgery. If you have a strong ability to maintain focus and are good with numbers, though, it can pay quite well, and that general aversion to the field is part of the reason why. No matter which of the many accountant related career paths you may find yourself on, you can expect your compensation to be relatively high and to have to sacrifice little in terms of work-life balance.
What Do Accountant Positions Pay?
Garden-variety accountants make a very respectable median salary of $68,150 a year according to the Bureau of Labor Statistics. Larger, more prestigious firms in urban centers generally pay more, while small, out-of-the way companies can usually only afford less. It should be noted that this salary number pertains to qualified accountants only; similar but lower-level positions like bookkeepers and accounting clerks earn a median salary of only $38,390, clearly illustrating the value of credentials in this field.
Many professional accountants also choose to forgo traditional corporate jobs and instead forge their own career path in the ranks of the self-employed. Self-employed workers generally have higher per-hour wages than salaried workers, but sometimes make less than people make in comparable jobs with permanent positions.
This is not only because self-employed work has no guaranteed hours (you may or may not have a willing customer at any given time), but also because self-employment requires workers to pay out-of-pocket for things like insurance, office equipment and employer taxes. If you can build up a client base, though, this can be a very lucrative route that also allows you a lot of control over things like your hours and working conditions.
What Do Related Jobs Pay?
Because strong finances are so important to both individuals and companies, a strong accountant has many options for more specialized work if they ever feel like making a change. Some, like cost estimator positions, pay nearly the same as conventional accounting work ($61,790) – these workers use their skills to calculate the funds needed for large commercial projects.
Those who want a little more money for their efforts can become financial analysts for $81,760 annually, collecting and interpreting financial data for companies to help keep them fiscally solvent. If you pair your economic acumen with good people skills, you may be able to become a personal financial advisor for an even more impressive $90,530 per year.
Is Accounting Right for Me?
The next question always is; this sounds great, but is this career the right one for me? That question has no easy answers. As you consider your options, remember that salary is everything. If you end up in a job you hate, the salary will rarely keep you plugging along. Do you have a passion for numbers? Do you like seeing everything balance at the end of the day? Are you organized and meticulous? Then you might have what it takes to be an accountant.
Are you interested in the world of accounting? If you want to earn a Bachelor of Science in Business Administration with a Concentration in Accounting, consider ECPI University’s business program. With year-round classes, you could earn your degree sooner and start working faster. For more information about this degree program, connect with a helpful admissions advisor today.
It could be the Best Decision You Ever Make!
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Gainful Employment Information – Accounting - Bachelor’s
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