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Median annual earnings of wage and salary accountants and auditors were $54,630 in May 2006. The middle half of the occupation earned between $42,520 and $71,960. The top 10 percent earned more than $94,050, and the bottom 10 percent earned less than $34,470. Median annual earnings in the industries employing the largest numbers of accountants and auditors were as follows:
| Accounting, tax preparation, bookkeeping, and payroll services | $57,020 |
| Management of companies and enterprises | 55,560 |
| Local government | 50,120 |
| Depository credit intermediation | 49,380 |
| State government | 47,200 |
According to a salary survey conducted by the National Association of Colleges and Employers, bachelor’s degree candidates in accounting received starting offers averaging $46,718 a year in 2006; master’s degree candidates in accounting were offered $49,277 initially.
According to a 2007 salary survey conducted by Robert Half International, a staffing services firm specializing in accounting and finance, general accountants and internal auditors with up to 1 year of experience earned between $31,500 and $48,250 a year. Those with 1 to 3 years of experience earned between $36,000 and $60,000. Senior accountants and auditors earned between $43,250 and $79,250, managers between $51,250 and $101,500, and directors of accounting and internal auditing between $68,000 and $208,000. The variation in salaries reflects differences in size of firm, location, level of education, and professional credentials.
In the Federal Government, the starting annual salary for junior accountants and auditors was $28,862 in 2007. Candidates who had a superior academic record might start at $35,752, while applicants with a master’s degree or 2 years of professional experience usually began at $43,731. Beginning salaries were slightly higher in selected geographic areas where the prevailing local pay level was higher. Accountants employed by the Federal Government in nonsupervisory, supervisory, and managerial positions averaged $78,665 a year in 2007; auditors averaged $83,322.
Wage and salary accountants and auditors usually receive standard benefits, including health and medical insurance, life insurance, a 401(k) plan, and paid annual leave. High-level senior accountants may receive additional benefits, such as the use of a company car and an expense account.
Source: Bureau of Labor Statistics, U.S. Department of Labor, on the Internet at http://www.bls.gov/oco/ocos001.htm (visited November 25, 2008). Used by permission.