Online Accounting Degree Average Salary
Are you planning a career in accounting or auditing? One way to gauge how far you want to go in the education for your career is to discover wage earnings for various occupations. Although students with accounting degrees can enter many different occupations, there is a way to gauge whether you need a bachelor’s degree for a higher wage or if you need to pursue a master’s degree for top salary options. This information may interest you, as your future wages may offset any funds that you spend on your college education for accounting.
The United States Department of Labor’s Bureau of Labor Statistics is very clear on salary options for accountants. They break down earnings by starting salaries, by specializations and by degree. This information is based upon several sources that focus on each earning tier, and the information shows that the longer an accountant works and the higher the rank an accountant achieves, the more that accountant will realize financial success.
For instance, a salary survey conducted by the National Association of Colleges and Employers showed that bachelor’s degree candidates in accounting usually received starting offers averaging $46,718 per year in 2006. Master’s degree candidates varied little from that starting salary, with $49,277 per year average. But, more years in service to a company can help the master’s degree candidate earn more over the long run. This is especially true for accountants who can achieve management or directorship positions.
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 earned a wide range of salaries depending upon length of time with a firm, the size of the firm, location, level of education, and professional credentials:
- Those entry-level accountants with up to one year of experience earned between $31,500 and $48,250 a year
- Those with one to three years of experience earned between $36,000 and $60,000 per year
- Senior accountants and auditors earned between $43,250 and $79,250 per year
- Managers earned between $51,250 and $101,500 per year
- Directors of accounting and internal auditing earned between $68,000 and $208,000 per year
Wage and salary accountants and auditors also receive many standard benefits, including health and medical insurance, a retirement savings plan and paid annual leave time. Many high-level positions carry benefits such as a company car and an expense account. Beginning salaries and wage earnings also are higher in places where prevailing local pay level is higher as well, such as in larger cities.
The difference between low-end and high-end salaries and the benefits involved with these jobs becomes more pronounced as the years go by, so you might consider earning your master’s degree in accounting at some point during your career. Usually, this degree takes only two years to complete, and online courses can make that effort seem effortless with flexible programs designed to meet the lives of busy professionals.