Salaries for Accountants

Do Accountants Earn High Salaries?

If you are considering a new career in the field of accounting or finance, you may be asking yourself “how much money do accountants make compared to other business-related jobs?”  Many career tracks in the business world can be extremely lucrative, but with the constant, high demand for accountants and their specialized knowledge and training, accounting is one of the highest paying careers in any industry today.

Average Accountant Salaries

Starting salaries for entry-level positions in accounting, like accounting clerk, average approximately $33,000 per year, while mid-level accountants earn in the mid- to upper-40’s. But with the proper blend of education, experience, and talent, certified accountants, CFOs, and company treasurers working in the corporate world can easily earn over $100,000 annually.

But, given the need for in-depth training, education, and specialized knowledge, a career in accounting requires serious candidates to continue their education throughout their lives. In fact, the key to earning a high salary as an accountant is to advance your education through undergraduate and graduate programs in accounting and finance. If you are just getting started, an undergraduate degree in accounting can open the door to a wealth of opportunities in the field, providing the footing for a successful career, but the accountants who make the most money generally hold graduate degrees. For example, a Master of Business Administration (MBA) or Master of Science (MS) in accounting can increase your earning potential and attractiveness to possible employers exponentially.

Highest Earning Accountants

The top earning accounting professionals generally possess additional credentials like the Certified Public Accountant (CPA), Certified Management Accountant (CMA), Certified Internal Auditor (CIA), Certified Financial Planner (CFP), Enrolled Agent (EA), and Forensic Certified Public Accountant (FCPA) designations and have put serious time and commitment into their careers.  While earning these certifications requires an investment of time and money, in the long run, they allow professionals to command significantly higher salaries than those who forego continuing education.