Tax Consultant Salary Guide

Tax consultants help individuals navigate complicated tax codes and file their tax returns annually. These professionals must know what information to collect, what laws apply, and the best strategies to use for each client. According to PayScale, tax consultants who demonstrate skills in legal research can earn 16% more than their peers. The resource below helps prospective tax consultants understand how much they can make in these positions. Readers learn about the average tax consultant salary, factors that affect pay rates, and job growth projections. Read on to explore potential career paths for tax consultants and resources for conducting more research.

LEARN MORE ABOUT A CAREER AS A TAX CONSULTANT

HOW MUCH DO TAX CONSULTANTS MAKE?

Median Salary

How much does a tax consultant make and what is the average salary of a tax consultant? The Bureau of Labor Statistics (BLS) collects salary data throughout the country. This data combines tax consultants and tax preparers. According to the BLS, tax consultants earned a median salary of $38,730 in 2017. The profession maintains a mean salary of $47,090 annually.

Salary by Experience

An individual’s relevant experience can impact salary. For example, tax consultants with 5-9 years of experience earn an average of $71,000 per year, according to PayScale. The chart below shows the average wages for tax consultants with different experience levels.

Salary by Degree

Higher education can change the average tax consultant salary. Several types of degrees can help candidates work as tax consultants, but accounting degrees often offer the most direct route. The chart below highlights the salary ranges for tax consultants with different levels of accounting degrees.

Accounting Degree Salaries

BACHELOR’S DEGREE

Median Salary: $69,000

MASTER’S DEGREE

Median Salary: $91,000

Career Path Salaries

Tax consultants who complete several successful years in their roles often move into other positions. They may earn their certified public accountant credentials, manage teams of tax consultants, or analyze tax data. See below for some common next steps for tax consultants and the average salaries for these positions.

What Are the Top States for Tax Consultant Pay?

Average tax consultant salaries differ by state. Increased demand and cost of living can cause employers in some areas to pay tax consultants more than others. For example, tax consultants in the District of Columbia earn an average of $107,880 annually. See below for some of the top locations for tax consultants based on average salaries.

• DISTRICT OF COLUMBIA
  Annual Mean Wage: $107,880
• COLORADO
  Annual Mean Wage: $73,740
• MASSACHUSETTS
  Annual Mean Wage: $62,300
• CALIFORNIA
  Annual Mean Wage: $61,970
• OREGON
  Annual Mean Wage: $57,720

What Are the Top Industries for Tax Consultant Pay?

Employers in different sectors offer varying salaries for tax consultants. For example, business management organizations pay nearly $20,000 more per year on average than companies in the computer services industry. Read on to view the top industries for tax consultants based on average pay.

ARE TAX CONSULTANTS IN-DEMAND?

HISTORICAL CAREER GROWTH

Ever since the invention of taxes, individuals and businesses have needed tax professionals to help them navigate these systems. As the population grew and tax laws became more complicated, the demand for tax consultants has grown. Sector growth may continue to increase based on these trends, though state data may differ.

FUTURE CAREER GROWTH

Projections Central projects that the demand for tax preparers and consultants will grow by 10% from 2016-2026. This expansion represents the growth from 95,900 of these positions to 106,200 by the end of 2026.

Top States for Job Growth

As is the case with average salaries, the growth rate for tax preparers and tax consultants varies by state. Experts project extraordinary growth for these professionals in certain states. The chart below highlights the top states for tax consultants based on projected job growth.

Tennessee

40.5% Change from 2016-2026

Utah

36.1% Change from 2016-2026

Nevada

25.4% Change from 2016-2026

Florida

22.2% Change from 2016-2026

Texas

20.4% Change from 2016-2026

HOW DO TAX CONSULTANTS COMPARE TO OTHER ACCOUNTING CAREERS?

Tax consulting is just one of the many accounting careers that candidates can pursue. Before deciding on a career path, individuals should weigh the pros and cons of each possible option. See below for some average salaries for several of the top accounting careers:

• Personal Financial Advisor: $60,712
• Bookkeeper: $41,929
• Forensic Accountant: $65,760
• Auditor: $55,748
• Cost Accountant: $55,710

Candidates should consider job growth, state data, and personal interests before deciding on accounting career paths.

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EXPLORE ACCOUNTING DEGREE PROGRAMS
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LEARN MORE ABOUT TAX CONSULTANT SALARIES AND JOB GROWTH

• Bureau of Labor Statistics
  This segment of the Department of Labor collects data on salary, job growth, and employment throughout the country. Users can find all of this information in easy-to-read formats.
• Georgetown University Center on Education and the Workforce
  Users can find information on average pay based on education. Readers can also use the interactive state map and read the institution’s latest reports.
• Projections Central
  Users can find salary and job growth data by state or the whole country. Readers may also choose between short-term and long-term employment data projections.
• PayScale
  This company breaks down salary data based on factors such as experience, degrees, and skills. Candidates can also find career path information and descriptions of different positions.
• O*NET OnLine
  Users can search for career options based on their military experience, technological abilities, skills, and industries. The site also offers apprenticeship opportunities and detailed job descriptions.