How much money does an accountant or CPA make as annual salary?
According to the U.S. Bureau of Labor Statistics, the median annual wage for accountants and auditors in 2021 was $73,560. The lowest 10% earned less than $48,290, and the highest 10% earned more than $125,210.
Certified Public Accountants (CPAs) earn a higher median annual wage of $82,070. The lowest 10% of CPAs earned less than $53,620, and the highest 10% earned more than $128,530.
The annual salary of an accountant or CPA can vary depending on several factors, including:
- Experience: Accountants and CPAs with more experience typically earn higher salaries.
- Education: Accountants and CPAs with advanced degrees, such as a Master of Business Administration (MBA) or a Master of Science in Taxation (MST), typically earn higher salaries.
- Industry: Accountants and CPAs who work in certain industries, such as finance or healthcare, typically earn higher salaries.
- Location: Accountants and CPAs who work in large cities typically earn higher salaries than those who work in rural areas.
According to the AICPA's 2022 Salary Survey, the median annual salary for CPAs in the United States is $127,102. The median annual salary for CPAs with 0-3 years of experience is $73,568, while the median annual salary for CPAs with 10+ years of experience is $170,358.
The AICPA's 2022 Salary Survey also found that the median annual salary for accountants in the United States is $78,624. The median annual salary for accountants with 0-3 years of experience is $56,762, while the median annual salary for accountants with 10+ years of experience is $106,688.
Here is a table showing the median annual salary for accountants and CPAs in different industries, according to the AICPA's 2022 Salary Survey:
| Industry | Median Annual Salary for Accountants | Median Annual Salary for CPAs |
|---|---|---|
| Accounting firms | $76,877 | $118,329 |
| Business and industry | $78,084 | $127,082 |
| Government and nonprofit organizations | $76,918 | $120,613 |
| Education | $71,985 | $108,443 |
| Financial services | $85,123 | $131,566 |
| Healthcare | $81,278 | $127,314 |
| Information technology | $82,541 | $129,999 |
| Manufacturing | $78,476 | $124,744 |
| Retail | $73,946 | $113,977 |
| Wholesale trade | $79,105 | $125,626 |
These are just some of the factors that can affect the annual salary of an accountant or CPA. For more information, please refer to the U.S. Bureau of Labor Statistics or the AICPA's Salary Survey.