Accounting Job Titles & Salaries
Accounting is a huge field with many different job titles and responsibilities depending on the specific career path chosen by an individual. Accounting affords people the opportunity to work for companies, governments, nonprofit organizations, and even individuals, providing incredible career flexibility and the opportunity for upward mobility through experiential development. As a combination of responsibilities, Education, and experience, accounting job titles and salaries very widely, but each position can prove to be fulfilling and financially rewarding since accounting is one of the most stable occupations.
What does a financial accountant do?
Financial accountants have many different roles and responsibilities depending on the organization and their specific job title. While the career paths vary widely for accountants, some roles remain the same including analyzing data, preparing reports, and ensuring financial records are up to date and accurate to the best of their knowledge. On any given day, accountants will take in financial data and process it, creating organized spreadsheets, ensuring the enterprise resource planning software (ERP) is up to date, and providing advice to the organization by analyzing trends and using accounting principles to solve problems and boost fiscal efficiency.
What options can you get with an accounting degree?
Individuals with accounting degrees can follow many career paths in both the public and private sector with many options in each. Public accounting career paths could include auditing, taxation, government accounting, nonprofit accounting, and advisory services while private accounting could include corporate, management, and cost accounting alongside consulting and financial planning. In addition to these more traditional accounting roles, non-traditional jobs for accountants include teaching, entrepreneurship, finance journalism, banking, and financial investigation.
Many of the jobs in public and private accounting will have similar tasks as those described above; however, the people and organizations you work with will vary widely. Additionally, every organization is different, and the work environment will follow suit, so if you find it difficult to work in one sector, trying a different form of accounting may be beneficial. If you’re not terribly interested in accounting itself, there are plenty of jobs for accountants who don’t want to be accountants. The alternative careers listed above may prove to be more interesting for you if you don’t think the traditional accounting career path is for you.
What is the most needed job in accounting?
Financial accountant education requirements often determine the salary of a job, with higher pay requiring a BA in Accounting and having the qualifications and interest to sit for the CPA exam. However, the most needed jobs in accounting are often those at the entry-level position because there is a large amount of upward mobility due to the flexibility of accounting as a career. Additionally, entry-level accounting jobs perform the tasks that more senior positions rely on including data entry and other clerical tasks.
Accounting jobs with the highest demand position include accountants, financial analysts, auditors, and controllers. Each accounting career is very necessary and crucial to the proper function of companies and organizations. The beauty of accounting lies in the fact that it is incredibly important to the function of society and the economy, and that is a win for job stability!
What do accountants do?
Accountants work in a variety of industries and sectors to keep track of financial information and create reports and generate advice for their organizations. The most important role of accountants is keeping track of the cash flow and ensuring everything is operating successfully and legally. Additional roles of accountants may include keeping track of invoicing, making statements, bookkeeping, and collaborating with other departments to ensure everything within an organization runs smoothly.
It’s important to note that not all accountants perform the traditional roles of specialists in their field. They may also pursue several careers that are only vaguely related to the actual field of accounting. For some accounting majors, pursuing careers in education, journalism, investigation, and entrepreneurship may be more related to their interests. Accounting opens a world of opportunity for people who are passionate about its principles, and there are very few limitations to the career possibilities that one can pursue with an accounting degree.
Accounting job titles and salaries
Accountants can work in a variety of career fields in a more traditional role or in one of the many creative accounting job titles that exist in the modern world. From entry-level to expert, there are jobs available for everyone who’s interested in the field of accounting. Some common job titles in the field of accounting and their salaries include:
- Accounting Clerks, Invoicing Specialists, and Assistants. $45,000-$65,000
- Staff Accountants. $50,000-$70,000
- Senior Accountant. $65,000-$85,000
- Tax Accountants and Cost Accountants. $65,000-$100,000
- Senior Financial Analyst. $85,000-$125,000
- Controller. $100,000-$175,000
- CFO. $125,000-$300,000
- Treasurer. $150,000-$250,000
Even the entry-level positions in accounting are well-paid on average, and they are higher than most entry-level jobs in the United States. As seniority increases due to education, dedication, and years of experience, the salary also increases. These are just average ranges and projections, and salary averages will likely increase as the economy grows and changes. The great news for accounting majors and current accountants alike is that their jobs are crucial to the success of businesses, so there is no threat to their jobs in the foreseeable future.
Is accounting a hard major?
Like most majors and college pursuits, accounting varies in difficulty by person, university, and specific goals. For some people, accounting might be the hardest thing in the world, but it’s a breeze for others. Taking time to self-reflect and understand where you stand in the spectrum of interest and proficiency will help you decide whether the major is right for you. Differing universities also see variation in difficulty of their accounting majors, some colleges have a longer list of requirements and experiential credits while others have a shorter list. Additionally, the level of classes will be different between schools. Researching the major requirements of varying institutions can be helpful in deciding which school and major would be the best fit for you.
What is the highest salary of financial accountant?
In the working world, salaries are highly variable depending on the sector of concentration and the seniority of the position held. Types of accounting jobs and salaries are highly correlated with relevant education and experience received before application to a specific position. Accounting is a great career for people of all experience levels due to the statistically higher average salary for even entry-level positions. Entry-level accounting job salaries range between $45,000-$62,000 while the managerial accountant salary ranges between $80,000-$150,000 depending on the organization and specific title.
Financial accounting is a career with many opportunities for upward movement as more experience and education is gained through working in the field and pursuing higher levels of education and certification. Additionally, the financial accountant growth rate is holding steady, so it is a very stable career to pursue and develop. Achieving the highest salaries in financial accounting will take quite a bit of time, dedication, and commitment to education, but it is a very attainable goal with the right work ethic!
What is a side hustle for accountants?
Many people have side hustles to make extra cash to spend on vacations, savings, hobbies, desserts, or as a general supplement to their main income. While some people don’t have time to spend on side hustles due to family, work, or other reasons, they can be a great option if you happen to have a little extra time and some accounting skills. Side hustles can be an added job title for accountants that allows them to explore their passions outside of their main careers. Some of the most popular side hustles for accountants include:
- Freelance Accounting. You can provide bookkeeping and accounting services to businesses and organizations that do not require a full-time accountant and need your services as a contractor.
- Consulting Services. With the education you have attained as an accounting major, your opinions are very valuable to organizations who wish to improve their financial standing.
- Financial Advising. Helping individuals achieve their financial goals can be a great way to make some cash on the side and provide an invaluable service to the community.
- Teaching and Tutoring. As an experienced accountant, you know the ins and outs of the educational requirements, sharing with the next generation is a win-win situation.
- Writing and Journalism. Writing for your local newspaper or even national publications is possible as you have an expert opinion on accounting matters afforded by your education and experience.
It is important to remember that side hustles are not for everyone as they require a significant amount of time entirely separate from work and family. Additionally, some side hustles require permits, tax registrations, and marketing. If you are interested in starting a side hustle, doing research into your specific interest is important so you can consider all the potential benefits and risks in a realistic manner.
What is the least stressful job in accounting?
The least stressful jobs in accounting are entry-level positions where your responsibilities remain regular, and the daily tasks are consistent throughout the job. These positions are often less stressful because there is little need to adapt to changes as data entry, report creation, and ERP usage remain consistent. The stresses in these positions are usually minimal, though it is often good to be prepared in the case of emergent situations. In truth, staying prepared and up to date on education and training is the best way to avoid stress in any position within an accounting department.
Additional strategies to avoid stress in an accounting job include staying on time and current with the financial data, giving your eyes breaks from the screen, asking questions to your superiors, and communicating with the department. Stress is a component of any career, and these strategies are not foolproof, but consistent effort and flexibility can be lifesavers in any stressful situation.
What is the easiest job with an accounting degree?
There are many different qualifiers that determine the ease of a position including technical skills and education required, size of workload, and number of responsibilities. The easiest job in accounting is different for each person. Some people may be better at data entry while others excel at providing advice, writing reports, or projecting trends. This natural variation in aptitude and experience allows accounting departments to function smoothly. You may find challenge in a position where others find ease and vice versa. Thankfully, discovering easy jobs within the field of accounting is possible, though maintaining a reasonable level of challenge is often more beneficial to your individual growth.
Regarding jobs that require fewer technical skills and less education, those would be more entry-level positions including accounting clerks, assistants, and bookkeepers. These are great examples of jobs for accounting students to introduce them to the work accountants do daily. These jobs would also generally have a shorter list of responsibilities and a smaller workload. However, if you are seeking advancement in the field of accounting, it is necessary that you face challenge and grow from overcoming the difficulties posed by increased responsibility within your department or organization.
Final Thoughts
As it can be seen, the sky is the limit for accounting jobs, and there are many opportunities available for growth, development, and flexibility within the field. Aspiring accountants, accounting majors, and current accountants can celebrate the fact that they are working in a field that offers job stability and flexibility which are often hard to find in coexistence elsewhere. If you are interested in accounting or any related fields, it is a great idea to do your research and explore the opportunities and jobs afforded to you by accounting.
Accounting does not limit you to any one job, but it can complement any career or side pursuit you choose, and gathering experience within the field can boost you to new heights. Whatever your goals may be, if you’re interested in accounting, the skills you learn can help you achieve any level or job title so long as you have enough work experience, tenacity, and the right amount of education.
