How Much Does an Accountant Get Paid an Hour?
- In May 2009 the Bureau of Labor Statistics conducted a survey of employment and salary levels for numerous occupations throughout the United States. During the survey it collected pay data from over 1 million accountants and their close contemporaries, auditors. The bureau concluded that the average hourly salary for the profession was $32.42. This is equivalent to a monthly income of $5,619, and an annual salary of $67,430.
- The bureau also detailed how accountant salaries vary between different sectors of industry. It listed the average wage for positions in accounting, tax preparation, bookkeeping and payroll services as $35.54 an hour. Insurance carriers paid an average of $31.50, while firms dealing with securities and commodity contracts intermediation and brokerage offered $38.84. Accountants also work in government agencies. The bureau listed the average hourly income for an individual employed at the federal level as $42.40, at state level as $25.98, and at local government level as $27.64.
- Another factor that influences an accountant's hourly pay rate is geographical location. The bureau listed New York State and the District of Columbia as lucrative locations, with average wages of $40.52 and $38.46, respectively. New Jersey, Maryland and Massachusetts complete the top five with rates of $38.14, $36.65 and $35.23, respectively. In contrast, Delaware was listed at $33.15 and Colorado at $33.13. The New York-White Plains-Wayne district of New York state topped the table of metropolitan areas, with an average pay rate of $42.28, followed by the Nassau-Suffolk district in the same state at $41.40. By way of contrast, Tallahassee, Florida, was listed at $24.47.
- The bureau expects employment opportunities for accountants to increase by approximately 22 percent in the years from 2008 to 2018. This is a respectable rate of growth given that the expected national rate across all occupations is between 7 and 13 percent for the same period. A growing economy with more and larger businesses will fuel this growth, with accountants needed to ensure that firms comply with changing financial legislation and provide increased transparency to stakeholders. As such, pay rates for the profession are likely to remain very competitive, particularly for those with professional certification.