Managers supervise multiple engagements and assume administrative responsibilities (e.g., scheduling and performance evaluation) as well as maintaining client relationships. In the past, staff accountants were often charged with performing the most tedious and time-consuming tasks, e.g., vouching cash disbursements. Staff accountants now start off running—analyzing data sets, meeting with clients, and writing algorithms to identify high risk transactions.

• As per the Accounting Today magazine, the entry-level CPAs make anything between $40,000 and $60,000, based on the magnitude of the company.
• In fact, as the business world continues to evolve, professionals like CPAs will be needed to help companies adapt to new conditions.
• Senior directors and partners are the highest paid CPAs in public accounting with salaries over $200,000 per year.
• According to the 2023 Robert Half Accounting & Finance Salary Guide, the average CPA salary is $122,000 per year which is a 2.3%-5.8% increase from the previous reporting year.
• While pursuing a career in auditing or tax, it’s essential to understand the salary expectations that come with these roles.
• So if you’re a professional accountant and decide to earn your CPA designation, this can help you boost your average annual salary by 10 to 15%.

How Does Remote Work Impact CPA Salaries?

CPAs in non-management positions can expect to earn up to 15% more than their peers but can also expect long hours and added responsibility and pressure. Certified public accountants are in demand and often more educated than general accountants, but they work long hours, especially during tax time, if they work in taxation. The higher salaries often mean more responsibilities at work, which could cause stress, but it depends on the individual. If you are an accountant, you’ll find a CPA salary is higher because this designation enhances your role.

Adtalem Global Education is not responsible for the security, contents and accuracy of any information provided on the third-party website. Note that the website may still be a third-party website even the format is similar to the Becker.com website. A CPA in New York could make over $100,000, but a junior accountant in a different average cpa state might only make a median salary under $50,000. Candidates must complete 150 semester hours of education, as well as any other specific state requirements.

What is a staff accountant salary?

The Robert Half Salary Guide provides figures for an average public accountant salary based on several factors. You will note that in the following charts, the accountants salary figures have been divided into 25th-95th percentiles. The average salary of an accountant can vary at small, medium, and large CPA firms, so that accounts for the range in figures. The range is also due to the local cost of living and candidates’ unique qualifications that can affect an overall salary. CPAs in consulting advise businesses on financial management, operational improvements, and strategic planning.

• These can include performance bonuses, profit sharing plans, retirement plan contributions, healthcare benefits, and paid time off.
• Choosing between these paths can significantly impact your CPA salary and career growth as a CPA candidate.
• State differences also play a role; some regions offer higher compensation due to demand.
• This provides a normalized cost-per-thousand-impressions figure that can be benchmarked across creators, platforms, and paid media channels.
• The salaries in the upper range would usually be available to candidates who have specialized expertise as well as additional certifications that are relevant to the job.

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Large metropolitan areas tend to offer higher average CPA salaries due to the higher cost of living as well as the greater demand for accountants in those areas. To give you an idea, here are the top paying states and metropolitan areas for accountants followed by the states that offer the most accounting jobs according to the Bureau of Labor Statistics (BLS). Some large organizations are willing and able to compensate well in order to attract better talent. The more staff, assets, or clients a company has, the more complicated certain accounting responsibilities become, and an accountant’s compensation does reflect this.

Strategies for Maximizing Take-Home Pay

If you’re asking, “How much do CPAs make?” consider that specialization can elevate your earning potential, especially after passing the CPA exam and gaining valuable experience. Average starting salaries, salary progression over the years, and bonus structures can significantly influence your overall earnings. Let’s explore how these various industries impact CPA salaries and uncover some high-paying opportunities. California boasts an average CPA salary that often exceeds $80,000 per year, making it one of the most lucrative states for accounting professionals.

As accountants climb up the career ladder and become senior accountants, assistant managers, and managers, most firms award them with increased salaries every year. The work-life balance promoted by this company leads to high job satisfaction for CPA candidates, general accountants, and other financial service professionals. The Occupational Outlook Handbook stats show projected job growth of 6% over the next decade. Although this is average in terms of job outlook, lots of job openings within top-paying industries and high job satisfaction make the accounting profession one to explore. Each experience, skill, and connection strengthens your foundation, allowing you to grow taller and reach higher.

These dynamic fields require CPAs to stay informed on industry trends and regulatory changes, which can translate into higher earnings. Employers of accountants are classified into two general areas—public accounting and private accounting. Public accounting involves working for a CPA firm while private accounting includes working for companies, not-for-profits, and governments. Bureau of Labor Statistics (BLS), accountants and auditors earned a median annual pay of $78,000 in May 2022.

CPAs must have a minimum of 150 hours of education, pass all four CPA exam sections, and then continue their education after the first licensure by concluding CPE. Ultimately, the advantages of becoming a CPA are exciting and can continue to increase with subsequent years of experience and education. Keep in mind that pockets of higher salaries can be found even in low-paying states. The goal of the firm is to provide superior 1-on-1 tutoring at an affordable price. After meticulously analyzing the CPA exam market, Vishal felt a lot of the CPA review courses didn’t do so. Investing in your CPA career can significantly enhance your financial success and open doors to countless opportunities.

A corporate accountant’s primary task is to analyze data, manage financial reporting, and to ensure compliance with regulations. Corporate accountants are usually responsible for preparing the reports that are used by senior management to make decisions. Many CPAs also work as tax professionals or business consultants; their expertise and training ensure that they can command high salaries. Consequently, most companies do their best to retain their accounting talent by providing regular salary hikes and bonuses. The location of a CPA’s practice plays a crucial role in determining their salary.

Deloitte Salaries

For instance, a CPA in California makes on average $96,210 while a CPA in Georgia makes $86,200, according to the Bureau of Labor Statistics May 2022 report. So, before we can talk about specific salaries and compensation plans, we have to look at why CPA salaries fluctuate so much. Of course, these averages are just that—averages that factor in entry-level salaries to high-level salaries. But still, you can see that overall, an accounting degree salary can be higher if you have an advanced degree.