Accounting Assistant Salary Guide
| Accounting.com Staff
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If you want to pursue a career as an accounting assistant, you'll encounter an evolving job market. New technology has changed the way accounting assistants perform essential financial recording tasks. Consequently, the Bureau of Labor Statistics (BLS) projects reduced demand for bookkeeping, accounting, and auditing clerks through 2028. However, despite the projected decline in employment, professionals can take advantage of an influx of job openings as workers leave the field.
Use this guide to explore how to land a job as an accounting assistant. You can also learn the average salary of an accounting assistant and top states for accounting assistants when it comes to pay rates.
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HOW MUCH DO ACCOUNTING ASSISTANTS MAKE?
Median Salary
How much does an accounting assistant make? An accounting assistant's salary depends on many variables. College experience, career background, and location all influence pay. Salaries also vary depending on an accounting assistant's employer and industry. Bookkeepers, accountants, and auditing clerks earned a median annual salary of $40,240 in 2018, according to the BLS. Browse more detailed career information below.
Salary by Experience
As you gain accounting experience, you will probably gain more responsibility and a bigger paycheck. An entry-level accounting assistant starts at an hourly salary of about $14.51, while a professional with 10-19 years of experience can make $17.63. Although actual salaries differ, the chart below highlights detailed projections of the average salary of an accounting assistant by experience level.
| EXPERIENCE | SALARY |
|---|---|
| Entry Level (0-12 Months) | $14.51 an hour |
| Early Career (1-4 Years) | $15.47 an hour |
| Mid Career (5-9 Years) | $17 an hour |
| Experienced (10-19 Years) | $17.63 an hour |
Salary by Degree
With a higher degree, data shows that an accounting assistant's salary increases. Professionals with a bachelor's degree typically take home larger salaries than accounting assistants with only an associate degree. This is not to say that earning a higher degree is the only way to increase your salary. View the table below for more salary information by education level.
Accounting Assistant Salaries
| DEGREE LEVEL | MEDIAN SALARY |
| Bachelor's Degree | $69,000 |
| Master's Degree | $91,000 |
Career Path Salaries
A career as an accounting assistant can be a stepping stone to high-level positions. Ambitious working professionals can earn higher salaries through promotions. Here are some common upward career trajectories for accounting assistants and their average salaries.
| POTENTIAL NEXT STEP | SALARY |
|---|---|
| Staff Accountant | $50,000 |
| Accountant | $51,000 |
| Accounting Manager | $70,000 |
What Are the Top States for Accounting Assistant Pay?
Location influences an accounting assistant's salary. Below you can explore the top locations for accounting assistants in terms of pay rates. While certain states pay more according to BLS data, keep in mind that other factors also influence salary.
| State | Annual Mean Wage |
|---|---|
| District of Columbia | $54,970 |
| Alaska | $48,640 |
| Connecticut | $47,890 |
| California | $47,750 |
| Massachusetts | $47,020 |
What Are the Top Industries for Accounting Assistant Pay?
Education, location, industry, and experience all affect how much an accounting assistant earns. Accounting assistants work in a variety of different settings, including accounting, real estate, and management companies or in local government. Here are a few of the top industries for accounting assistants.
| INDUSTRY | ANNUAL MEAN WAGE |
|---|---|
| Accounting, Tax Preparation, Bookkeeping, and Payroll Services | $42,960 |
| Management of Companies and Enterprises | $43,160 |
| Local Government, Excluding Schools and Hospitals | $43,130 |
| Real Estate | $43,050 |
| Credit Intermediation and Related Activities | $41,160 |
ARE ACCOUNTING ASSISTANTS IN DEMAND?
Historical Career Growth
In 2016, the top states with the highest concentration of bookkeepers, accountants, and accounting clerks included California, Texas, New York, Florida, and Ohio. All states except California increased jobs in accounting from 2016-2018.
| STATE | 2016 | 2018 |
|---|---|---|
| Texas | 125,140 | 131,250 |
| New York | 115,270 | 104,580 |
| Florida | 94,170 | 97,300 |
Future Career Growth
The BLS doesn't project significant long-term career growth for some accounting jobs. However, many states should see significant growth in accounting employment on a short-term basis. The top five states with projected job increases through 2019 include:
- Arizona with a 6.9% increase
- Utah with a 6.4% increase
- Georgia with a 5.6% increase
- Nevada with a 5.3% increase
- North Carolina with a 5% increase
Top States for Job Growth
Despite changes in the accounting field that could result in employment cuts, Projections Central projects accounting jobs to increase by 10% through 2026. Other states with notable projected increases in jobs for bookkeeping, accounting, and auditing clerks include:
- Arizona with a 4.1% change from 2016-2026
- Utah with a 3.9% change from 2016-2026
- Georgia with a 3.8% change from 2016-2026
- Nevada with a 3.6% change from 2016-2026
- Washington with a 3.3% change from 2016-2026
HOW DO ACCOUNTING ASSISTANTS COMPARE TO OTHER ACCOUNTING CAREERS?
Salaries differ depending on your accounting job title. Accounting assistants primarily perform administrative tasks. They typically hold an associate degree or a bachelor's and make an average annual salary of $40,022, according to PayScale. Compare that to financial clerks, who typically only have high school diplomas and make a median annual salary of $39,570.
On the higher side, accountants and auditors -- who usually hold at least a bachelor's degree -- make a median annual salary of $70,500. Different positions in accounting also project different growth rates. While the BLS projects that jobs for accounting clerks will decline through 2028, jobs for accountants and auditors are projected to grow 6%. This growth is on pace with other careers.
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