Accounting Manager Salary Overview

Accounting managers oversee organizations' accounting operations to help maintain their financial health. In return for their valuable work, accounting managers earn some of the highest salaries in the accounting industry.

For example, a 2024 Accounting Today survey found that accounting manager annual salaries ranged from $106,000-$121,000, depending on the size of their firm. These rates amount to about $25,000-$40,000 more per year than the average for general accountants.

Find out more about the salary expectations for accounting managers below, including the factors that can influence earning potential — use these details to make the best decisions for your career.

How Much Does an Accounting Manager Make?

Accounting manager salaries depend on several factors, including education, specialization, credentials, and experience. Wages also vary by company size, location, and industry.

In most cases, accounting managers make some of the highest wages in the field. Their expertise and leadership make them valuable additions to a firm and contribute to their earning potential. However, managers may experience more demanding roles with high-pressure, stressful situations.

Salary by Education

Your level of education can affect your salary as an accounting manager because it helps determine the type of knowledge you have and the services you can provide.

While a bachelor's degree is typically the minimum requirement to become an accounting manager, master's programs offer better preparation for leadership roles. Advanced degrees also help you develop analytical and decision-making skills.

A graduate degree can also allow you to pursue certified public accounting (CPA) certification and state licensure. As a CPA, you can audit and analyze financial statements and prepare tax returns for business clients.

Consider if the increased earning potential from an advanced degree is worth the investment of time, finances, and energy before committing. Note: some of the figures below represent data from fewer than 50 respondents.

Salary by Experience

Experience significantly affects accounting management salaries. You usually need some time as an accounting professional just to enter the management field, but your management experience can help you boost your earnings from there.

According to Payscale data, accounting manager earnings jump about $10,000 per year for every few years of experience. While the average annual salaries appear to plateau after the mid-career range, extra earnings from bonuses, benefits packages, and profit-sharing agreements may be available at these levels.

Managing a successful accounting team or firm could lead to even more substantial earnings.

Salary by Location

Salaries vary based on location and industry. Densely populated states with high living costs and large financial sectors typically pay the most, such as New York, Washington, D.C., New Jersey, and California. Regional demand and other local industries can also play a role.

While rural regions tend to pay lower salaries, they may offer better job opportunities and lifestyles. A lower cost of living can also help offset the low pay. These places may also have more accessible housing prices, low or no income tax, and less competition for jobs.

The Bureau of Labor Statistics (BLS) has no location-based salary data for accounting managers. Still, the agency's reporting on accountants and auditors offers some insight into the cities and states that pay accounting professionals the most.

Where Should You Work as an Accounting Manager?

Despite AI and accounting software automating many routine accounting tasks, the demand for accountants should remain consistent, especially those with analytical and leadership skills. Many organizations need accountants to manage the complexities of international business, such as evolving laws and regulations.

While the BLS doesn't report projected growth numbers for accounting managers in particular, it projects 6% growth for accountants and auditors and 17% growth for financial managers from 2023-2033. Demand in both fields highlights a growing need for professionals who can monitor organization-wide financial health and risk management.

Best Areas

Employers in nearly every city and state need accounting managers, but the demand and salary potential vary by location. While the BLS doesn't track management positions for the field, its figures on the accountant and auditor field can provide a look into the industry's growth potential in certain locations.

Densely populated states and metropolitan regions tend to have more robust business and financial sectors, healthcare systems, and manufacturing industries — leading to more accounting job opportunities. That's why states like California, New York, and Texas, as well as their major metropolitan regions, employ the most accountants.

Cities tend to house many businesses, including their corporate headquarters. While job availability is the greatest in these regions, there's also more competition.

Regarding growth projections, the states with the fastest-growing populations and business sectors lead the way. As the fastest-growing state in the country, Utah's projected accounting growth comes in at nearly 9% higher than the second fastest-growing state, Tennessee. These states may offer a unique blend of career opportunities without the competitiveness and costliness of some of the more prominent accountant-heavy states.

Best Industries

Every industry requires accounting managers, but job opportunities, earning potential, and advancement opportunities vary. Without management-specific data from the BLS, we can look at the accountant and auditor industry to get an idea of the top-employing and top-paying industries.

Most accounting professionals work for accounting firms performing general tax and payroll services, but many accountants also leverage their financial skills to manage companies and work for government agencies. Larger organizations in these sectors typically offer higher salaries but come with more responsibility.

While the core accounting sectors pay strong salaries, BLS data reveals that the highest pay comes from niche industries. Various manufacturing, information technology, and media sectors offer the highest annual wages overall — around $40,000 or more higher than the occupational average salary. These figures highlight the earning potential that comes with an industry specialization.

Questions About an Accounting Manager's Salary