Prospective employees pursuing careers as accounting managers and accountants can expect a bright outlook. The U.S. Bureau of Labor Statistics (BLS) projects job opportunities for accountants to grow by 6% between 2018 and 2028.
In addition to math skills and accounting software acumen, accounting managers should prepare to design accounting systems and lead teams of accountants for their organization. Read on to learn more about accounting manager salaries and job prospects across various states and industries, including information on how experience and degrees can impact earning potential.
HOW MUCH DO ACCOUNTING MANAGERS MAKE?
According to the BLS, accountants in 2018 earned a median income of $70,500. Earning potential depends largely on degree level, experience, and location. Even a year of experience in accounting management significantly impact a professional’s salary.
SALARY BY EXPERIENCE
Experience plays a major role in salary increases, and accounting managers can expect to encounter strong upward trends in the early years of their careers. The table below lists average accounting manager salaries by experience level.
Salary by Degree
Many factors can lead to advancement in accounting, and not all accounting managers earn the same education, but a bachelor’s or master’s degree can impact salary levels and leadership opportunities. The table below illustrates earning potential for accounting degree holders.
Median Salary: $69,000
Median Salary: $91,000
CAREER PATH SALARIES
Accounting managers with interest in executive leadership may advance into roles as financial or corporate controllers. They may also elect to move into senior accountant roles. The table below details some salaries available to accounting managers seeking further career options.
|POTENTIAL NEXT STEP||SALARY|
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What Are the Top States for Accounting Manager Pay?
Location plays an important role in considering accounting manager salaries, as specifics vary widely between states. The table below lists annual mean wages for the five top-paying districts in the United States for accounting managers.
- DISTRICT OF COLUMBIA
Annual Mean Wage: $98,130
- NEW YORK
Annual Mean Wage: $96,300
- NEW JERSEY
Annual Mean Wage: $90,400
Annual Mean Wage: $85,640
Annual Mean Wage: $84,890
WHAT ARE THE TOP INDUSTRIES FOR ACCOUNTING MANAGER PAY?
Prospective accounting management professionals should consider the industry in which they want to work. Location, education, and experience demonstrate significant impact on salary levels, but industry also makes a difference. The table below illustrates the annual mean wage for the five top-paying industries for accounting managers.
|INDUSTRY||ANNUAL MEAN WAGE|
|School and Employee Bus Transportation||$109,250|
|Federal Executive Branch||$100,080|
|Securities, Commodity Contracts, and Other Financial Investments and Related Activities||$97,000|
|Other Investment Pools and Funds||$96,770|
|Other Pipeline Transportation||$93,590|
ARE ACCOUNTING MANAGERS IN DEMAND?
HISTORICAL CAREER GROWTH
Short-term projections covering growth in accountant positions from 2018 through 2020 indicate positive changes in all U.S. territories. States with the highest growth potential in the short term include Georgia, Nevada, and Utah.
FUTURE CAREER GROWTH
The accounting is growing rapidly. As the global economy increases and tax requirements become more stringent, accountants enjoy high demand. The BLS projects demand for accountants to increase by 6% between 2018 and 2028 across the United States, with positive trends in every territory.
Top States for Job Growth
With positive trends in demand for accounting managers expected across the United States from 2016 through 2026, most U.S. territories project double-digit increases. The table below details the five top states for job growth for accountants, including accounting managers.
- California: 148,600 employees
- Texas: 115,270 employees
- New York: 110,780 employees
- Florida: 71,940 employees
- Illinois: 53,280 employees
HOW DO ACCOUNTING MANAGERS COMPARE TO OTHER ACCOUNTING CAREERS?
With demand for accountants set to rise by 10% between 2016 and 2026, experience, education, and relevant credentials should equip accounting managers to pursue their desired positions. Projections Central projects the following:
- Demand for managers across other business categories will rise by 8%.
- Demand for financial specialists will rise by 9.6%.
- Demand for bookkeepers, auditing clerks, and accounting clerks will decrease by 1.5%.
TAKE THE FIRST STEP IN YOUR CAREER TODAY
ACCOUNTING MANAGER CAREER OVERVIEW
LEARN MORE ABOUT ACCOUNTING MANAGER SALARIES & JOB GROWTH
- The BLS
The BLS researches occupational trends in the United States and provides detailed, current profiles on each profession. Profiles include information on education, salary, work environment, and prospective growth in the field.
PayScale features a database offering information on salary averages for a wealth of different occupations and projects earning potential for various degrees. It provides detailed job descriptions, potential career paths, and data on common health benefits, job satisfaction, and gender breakdowns.
- Georgetown University Center on Education and the Workforce
In 2015, Georgetown University published the results of its study on the economic value of college majors; this salary data was made available in a searchable format.
Affiliated with O*Net, CareerOneStop provides information for people looking to join the workforce, including specific assistance for career changers, military veterans, and young adults. CareerOneStop offers career profiles, training information, and links to local assistance.
- Projections Central
Funded by the U.S. Department of Labor, Employment, & Training Administration, Projections Central provides a database through which prospective employees can search occupations by state or compare multiple careers on a national basis.
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