Accountant Salary: How Much Can You Earn?
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Accountants and auditors earn a median annual salary of $79,880 as of May 2023, according to the Bureau of Labor Statistics (BLS).
However, how much you can earn as an accountant depends on several factors, such as experience, location, and employer.
Your level of education also plays an important role. You typically need at least a bachelor’s degree in accounting, business, or a related field to work as an accountant. However, many employers prefer to hire accountants with a master’s degree, which often also leads to a higher salary.
In this guide, we’ll explore how much accountants earn in different locations within the U.S., how you can increase your chances of getting a raise, and what other professions are similar to accountant.
Accountant Salary Overview
| Percentile | Annual Salary |
|---|---|
| 10% | $50,440 |
| 25% | $62,720 |
| 50% (Median) | $79,880 |
| 75% | $103,990 |
| 90% | $137,280 |
According to the BLS, accountants and auditors earn an average annual salary of $90,780 as of May 2023.
However, the salary range is wide: accountants and auditors in the lowest 10% earn less than $50,440 per year, while those in the top 10% earn more than $137,280 per year, according to the BLS.
Keep in mind that these figures are just averages, though. Location, job title, experience, and employer all play a role in determining your earning potential. For instance, some companies may offer you bonuses based on performance.
Accountant Salary by State
The salary for accountants varies across states, and a key reason for this is cost of living.
For example, according to BLS data, you can earn more as an accountant in a high-cost state like New York or California, where living expenses are higher. On the other hand, you’ll typically earn a lower salary in states with lower living costs, like Alabama or Wyoming.
So, while the pay may look better in high-cost states, it’s important to weigh that against what it actually costs to live there.
Accountant Salary by State
| State⇅ | Annual Mean Wage⇅ |
|---|---|
| Alabama | $65,930 |
| Alaska | $78,580 |
| Arizona | $78,060 |
| Arkansas | $62,570 |
| California | $92,160 |
| Colorado | $84,200 |
| Connecticut | $81,560 |
| Delaware | $82,050 |
| District of Columbia | $101,940 |
| Florida | $76,480 |
Source: BLS
How to Get a Salary Raise as an Accountant
There’s no single guaranteed way to get a raise. However, these tips can help set you on the right path toward increasing your salary:
- 1
Get a Master’s Degree
Earning a master’s degree is one way to boost your salary. By earning a master’s degree in accounting, finance, or business administration (MBA), you’ll gain specialized knowledge and skills that can help you qualify for promotions and leadership positions with higher earning potential.
- 2
Gain Additional Certifications
Obtaining certifications such as Certified Public Accountant (CPA) and Certified Management Accountant (CMA) can help you stand out to employers and boost your earning potential.
According to January 2025 Payscale data, CPAs earn an average annual salary of $79,944, and CMAs earn an average annual salary of $67,941. By contrast, accountants as a general group earn an average annual salary of $58,546, according to Payscale data from the same time period.
Other certifications you can pursue include Certified Fraud Examiner (CFE), Certified Internal Auditor (CIA), and Chartered Financial Analyst (CFA). These credentials can help deepen your expertise in specialized areas, which may also lead to increased earning potential.
- 3
Develop Your Technical Skills
Developing your technical skills can help make you more efficient and valuable in your role. Whether it’s learning data analysis tools, accounting software, or Microsoft Excel shortcuts, building these skills can give you an edge when it comes to promotions or raises.
- 4
Consider a Specialization
You can make yourself more attractive to employers by specializing in high-demand areas, such as forensic accounting, auditing, financial analysis, and tax strategy.
Focusing on a niche not only sets you apart but can also lead to better job security and higher earning potential. However, keep in mind that you may need to work in these roles for a while to build credibility before you can qualify for a higher salary.
- 5
Ask to Lead More Projects
Try to show drive and initiative at work by taking on more responsibilities, like leading auditing projects. You can also mentor junior accountants to increase your reputation as a leader and an expert.
More Jobs Like Accountant
Here are some additional jobs similar to accountant, with education requirements as well as salary and job outlook data from the BLS:
Auditor
- Minimum Education Required: Bachelor’s degree in accounting, business, or a related field; some employers may require a master’s degree
- Median Annual Salary (May 2023): $79,880
- Projected Job Growth (2023-2033): 6%
Auditors ensure the accuracy and integrity of financial documents. As an auditor, you may work internally to examine financial statements. You can also be an external auditor with an auditing firm, where you’ll inspect clients’ financial accounts to confirm they comply with regulations.
Financial Analyst
- Minimum Education Required: Bachelor’s degree in finance, business, or a related field; some employers may require a master’s degree
- Median Annual Salary (May 2023): $99,890
- Projected Job Growth (2023-2033): 9%
As a financial analyst, you’ll analyze financial data like investment portfolios and financial statements to determine a company’s value and performance. You’ll create reports and make recommendations that help companies make strategic decisions.
Budget Analyst
- Minimum Education Required: Bachelor’s degree in business, social science, psychology, mathematics, or a related field
- Median Annual Salary (May 2023): $84,940
- Projected Job Growth (2023-2033): 4%
Budget analysts help organizations assess and manage their finances by writing budget reports and tracking spending. You’ll also collaborate with different departments to ensure financial goals align with an organization’s overall priorities.
Frequently Asked Questions About Accounting Salaries
Accountants and auditors earn an average annual salary of $90,780, according to 2023 BLS data. However, income can vary depending on several factors, such as experience, location, and the industry in which you work.
For example, accountants and auditors who work in accounting, tax preparation, bookkeeping, and payroll services earned an average annual salary of $93,060 in 2023, according to the BLS. By contrast, professionals who work in local government — excluding schools and hospitals — earned an average annual salary of $79,220 in 2023, per the BLS.
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