Introduction

A career in accounting provides individuals with a competitive entry-level salary and long-term growth potential--particularly those who have earned CPA certification.

According to the Robert Half guide, public accounting salaries ranged from $30,000 - $43,000 (small firm) to $36,000 - $50,500 (large firm) for individuals with one to three years of experience. Individuals with a master's degree and/or CPA certification earned five and ten percent more on average, respectively. Within business and industry, those with one to three years experience in accounting positions earned salaries ranging from $34,000 - $42,750 (small company) to $38,500 - $49,500 (large company). Individuals with a master's degree earned 10 percent more on average; those with the CPA certification earned 10 percent more on average, as well.

As for long-term growth potential, starting partners in public accounting firm's average about $150,000, with the potential to earn much more over time. Managers/directors can expect salaries of $78,500 - $116,500 (large firms), $68,250 - $93,250 (medium firms), and $64,000 - $85,250 (small firms).

Within business and industry, chief financial officers and treasurers can expect salaries ranging from $85,250 - $110,500 (company with up to $50 million in sales) to $247,250 - $353,750 (company with more than $500 million in sales). At this level, bonuses and incentives reflect an increasingly large part of overall pay. Salaries for corporate controllers range from $56,750 - $76,500 (company with up to $50 million in sales) to $106,000 - $147,000 (company with more than $500 million in sales). Salaries for corporate tax managers range from $65,000 - $87,000 (company with $50 to 250 million in sales) to $78,000 - $119,000 (company with more than $250 million in sales).

Although Robert Half does not compile salary data for accountants in government, the National Association of Colleges and Employers (NACE) (www.jobweb.org) publishes a quarterly newsletter that examines starting salaries for a wide range of professions. According to the Fall 2002 NACE Salary Survey, entry-level salaries for accounting positions in government averaged about $33,468* (federal government) and $33,245 (local/state government).
* The information is based on a limited sample size.

Accounting educator salaries increase significantly as individuals advance. An annual study conducted by The Association to Advance Collegiate Schools of Business (AACSB) reveals the high, low, mean, median and mode salary ranges for accounting faculty based on status. Assistant accounting faculty received a mean salary of $86,100 from accredited colleges during the 2001-2002 academic year. The mean salary of associate accounting faculty was $88,100 at accredited colleges. Full accounting faculty received a mean salary of $107,000 from accredited colleges. Individuals with doctorates received higher salaries than those with other types of degrees.

It's important to note that factors such as geographic location, length of experience, level of education, CPA designation, and the size of the employer all play a role in determining salary.

Salary Information

Public Accounting--Audit, Tax, and Management Services (Large Firms) (a)

Experience/Title 2003 Salary Range
to 1 year (b) $36,000 - $42,000
1-3 years (b) $41,000 - $50,500
Senior (b) $48,500 - $61,250
Manager (b) $62,500 - $81,500
Manager/Director (b) $78,500 -$116,500
(a) $250+ million in sales
(b) add 5% for a graduate degree; add 10% for a CPA

Public Accounting--Audit, Tax, and Management Services (Medium Firms) (a)

Experience/Title 2003 Salary Range
to l year (b) $32,000 - $38,500
1-3 years (b) $35,750 - $42,250
Senior (b) 44,500 - $56,500
Manager (b) $56,750 - $72,750
Manager/Director (b) $68,250 - $93,250
(a) $25 to $250 million in sales
(b) add 5% for a graduate degree; add 10% for a CPA

Public Accounting--Audit, Tax, and Management Services (Small Firms) (a)

Experience/Title 2003 Salary Range
to l year (b) $30,000 - $36,500
1-3 years (b) $34,250 - $43,000
Senior (b) $41,750 - $53,750
Manager (b) $52,250 - $66,750
Manager/Director (b) $64,000 - $85,250
(a) up to $25 million in sales
(b) add 5% for a graduate degree; add 10% for a CPA

Corporate Accounting-General, Audit Cost Accountants (Large Companies) (a)

Experience/Title 2003 Salary Range
to 1 year (b) $33,000 - $40,500
1-3 years (b) $38,500 - $49,500
Senior (b) $48,000 - $61,500
Manager (b) $59,000 - $78,750
(a) $250+ million in sales
(b) add 10% for a graduate degree, an additional 10% for a CPA, and an additional 5% for substantial travel

Corporate Accounting--General, Audit & Cost Accountants (Medium Companies) (a)

Experience/Title 2003 Salary Range
to l year (b) $31,500 - $37,500
1-3 years (b) $35,750 - $45,750
Senior (b) $43,500 - $55,750
Manager (b) $52,750 - $68,500
(a) $25 to $250 million in sales
(b) add 10% for a graduate degree, an additional 10% for a CPA, and an additional 5% for substantial travel

Corporate Accounting-- General, Audit & Cost Accountants (Small Companies) (a)

Experience/Title 2003 Salary Range
to 1 year (b) $29,500 - $35,000
1-3 year (b) $34,000 - $42,750
Senior (b) $41,000 - $51,000
Manager (b) $47,500 - $61,000
(a) up to $25 million in sales
(b) add 10% for a graduate degree, an additional 10% for a CPA, and an additional 5% for substantial travel

Financial Management-Financial, Budget & Cost Analysis (Large Companies) (a)

Experience/Title 2003 Salary Range
to 1 year (b) $33,250 - $41,000
1-3 years (b) 42,000 - $52,750
Senior (b) 53,000 - $66,250
Manager (b) $65,250 - $82,500
(a) $250+ million in sales
(b) add 10% for a graduate degree, an additional 10% for a CPA, and an additional 5% for substantial travel

Financial Management--Financial, Budget & Cost Analysis (Medium Companies) (a)

Experience/Title 2003 Salary Range
to l year (b) $32,500 - $38,750
1-3 years (b) $38,500 - $48,500
Senior (b) $47,500 - $60,000
Manager (b) $58,750 - $74,000
(a) $25 to $250 million in sales
(b) add 10% for a graduate degree, an additional 10% for a CPA, and an additional 5% for substantial travel

Financial Management-- Financial, Budget & Cost Analysis (Small Companies) (a)

Experience/Title 2003 Salary Range
to l year (b) 30,000 - $36,500
1-3 years (b) 34,750 - $44,000
Senior (b) $40,500 - $54,000
Manager (b) $51,250 - $65,000
(a) up to $25 million in sales
(b) add 10% for a graduate degree, an additional 10% for a CPA, and an additional 5% for substantial travel

(SOURCE: 2003 Robert Half and Accountemps Salary Guide)