Are you trying to be a future accountant? Then you must have many questions in your mind. Questions like “how much do accountants make”, “how much do accountants make an hour”, or maybe “how much do accountants make out of college” are very common for someone trying to get into the accounting profession. We are going to discuss average accountants salary and educational qualification here for the future accountants’ convenience.
So, how much do accountants make a year really? Before we answer that, you must understand the face that salary for an accountant may vary for many reasons. These reasons include experience, certification, work based competency and knowledge of accounting protocols and procedures. It also depends on the economic condition and the current hiring trends. It is obvious that an entry level graduate fresh out of college will make less money than a certified accountant. The demand for accountants is based on clients’ needs and requests. As a result, if you can provide the clients with what they want, there is a high chance of growth in this profession. Moreover, the educational experience also plays a vital role in determining the salary.
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So, now let us get into the basic question “how much do accountants make”. For entry level positions, the employees fresh out of college usually make about $45,000 to $69,000 per annum. Positions like public accounting, auditing and taxation fall under this category. Also, this depends on the overall size of the firm you are working in. If the firm is big, then your salary will be substantially bigger. For more experienced positions like the manager and directors, the firms usually pay around $84,000 to $160,000 per year. This is because they are more experienced, handle the most difficult cases. If you are a partner at a public accounting firm, then you can easily make as much as $200,000 per year, or even more.
How much do accountants make in commercial capacity
So, now let us focus on how much do accountants make in commercial capacity. Usually, if an accountant is hired by a commercial firm, then he or she will make $60,000 per year on average. Again, this depends on the size of the firm. A big and renowned commercial firm will pay their employees substantially bigger salary. Also, the partners of a commercial firm can make up to $300,000 per year. Moreover, sometimes accountants are paid on an hourly basis. Usually, they can earn $20 to $35 per hour depending on their experience and the complexity of the job. An accountant with one to three years work experience can make a very good living with the salary he or she gets from the job.
So, now that the “how much do accountants make” question is out of the way, let us talk about the training and certificates for this job. Having a certificate in this field will make your journey to the top easier. If you want to do well, then passing the certified public accountant exam is a must. Clients are more likely to hire a certified public accountant than someone with no certificate.