As tax season ends, everybody from the CPAs to staff accountants to businessmen to an average American, all sigh in relief. Some hired help for their taxes and others asked a friend of a friend. But still, by the end of this season, every one wonders if an accountant’s career is one of the most secure and lucrative in all sectors.
Well, the statement is true to a certain extent. BLS, the Bureau of Labor Statistics, predicts an increase of 22 % in the job market potential for accountants by 2018. Accountants usually hold a Bachelor’s Degree and their main four sectors of employment include public, management and government sector accounting and internal auditing. An accountant handles company finances, public records and taxes, their accuracy, efficiency and timely payment. As the culture of strict financial evaluation of companies increase in society, they are gaining more and more popularity. BLS is predicting perhaps even a bigger boost in their job value for CPAs and other licenses and certification holding accountants having a better comparative salary from their counterparts.
CPA’s have fast turned into the upper echelons of accounting world with their talents clearly well-compensated than a regular accounting professional. A CPA with twenty years of experience will earn from $65,000 to $110,000 while a senior tax accountant with a 20 year experience will expect a $60,000 to $85,000. CPA’s are earning six figure salaries where an average accountant isn’t.
PayScale, Inc. gathered some interesting graphs to reveal important comparative data. We have broken it down with some round figures.
PayScale, Inc. Graphs According To Experience
A CPA earns $50,000 by first four years, the salary range increases to roughly $61,000 by ten years and reaches a nice $80,000 plus by the time they hit twenty years of experience in the field. Soon they hug the great six figure salary, a dream of, well everybody.
PayScale, Inc. Graphs According To Cities
New York ranked foremost in paying CPAs with a nice $69,000 followed closely by Atlanta, Georgia with $65,000. Los Angeles is third with a $64,000 per year in their pockets, with Seattle on their tails with $63,000. While Huston, Chicago and Texas make the list of tail enders with $61,000, $60,000 and $59,000, respectively.
PayScale, Inc. Graphs According To Employment
An expected company salary for a CPA would be $57,000 while private practice pays $58000. Self-employed individuals are earning $65,000 with State and local governments paying $57,000. Federal government employment is much more fruitful with $73,000 and other organizations giving $60,000 per year. Non-profit, Hospitals and universities are surprisingly not far behind with $55,000, $53,000 and$58,000, respectively. Educational institutions, Foundations and contract work are $58,000, $57,000 and $65,000, respectively.
These figures were broken down to scrutinize generally similar looking numbers. And these numbers served to outline a break in the pattern at various points with some companies and cities paying clearly more than others. So, avoid letting these critical employment statistics slipp through the gaps.
Please contact us at 407-344-1012. Freedomtax Accounting’s staff has been providing honest accounting services and tax services for 15 years. Our Orlando accounting and tax firm has its main offices in Kissimmee, FL. Our services are provided nationwide, but mainly in the Central Florida market to areas like Orlando, South Orlando, Kissimmee, St. Cloud, Poinciana, and Hunters Creek, FL. Our tax accountants and IRS enrolled agents (irs ea) specialize in corporate accounting and bookkeeping, tax services, tax preparation, back taxes help, tax debt relief, tax resolution, tax planning, itin numbers, incorporations, and non profit 501c3 tax exempt status applications.