Accountant Salary and CPA Outlook by State

Here is a breakdown of the US states that are expected to see the greatest increases. Accounting.com is committed to delivering content that is objective and actionable. To that end, we have built a network of industry professionals across higher education to review our content and ensure we are providing the most helpful information to our readers.

How much does a CPA make in the U.S.?

More specifically, the CPA average salary range⁵ is between $60,874 and $150,612, while the non-CPA average salary range⁶ is between $47,138 and $82,167. Certain niches within the CPA profession can command even higher average salaries, as reported in a 2024 hiring trends survey⁴ and seen below. To increase your CPA average salary, https://www.bookstime.com/articles/bookkeeper360 consider developing skills in the following areas. Certified Public Accountants (CPAs) and advanced degrees lead to higher earnings. Geographic location also plays a crucial role, with urban areas offering higher salaries. While salary is an essential factor, it should not be the sole consideration in career decisions.

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While education helps people obtain CPA licensure and higher salaries, experience also impacts earnings. According to data from PayScale, the average salary for CPAs increases steadily with more experience. Whatever you invest in your CPA training, you’ll likely earn back through salary, earning potential and career options. Geographic location also plays a crucial role, with accountants in urban areas and financial hubs earning more than those in rural areas due to higher costs of living and increased demand. Some large organizations are willing and able to compensate well in order to attract better talent. The more staff, assets, or clients a company has, the more complicated certain accounting responsibilities become, and an accountant’s compensation does reflect this.

Big 4 Accounting Firm CPA Salaries

Virtually all unauthorized immigrants living in the U.S. entered the country without legal permission or arrived on a nonpermanent visa and stayed after it expired. In 2022, the number of unauthorized immigrants in the U.S. showed sustained growth for the first time since 2007, to 11.o million. The U.S. foreign-born population reached a record 46.1 million in 2022. Growth accelerated after Congress made U.S. immigration laws more permissive in 1965. In 1970, the number of immigrants living in the U.S. was less than a quarter of what it is today.

How much does the average Accountant make in the United States?

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Effective Salary Negotiation

It’s clear to see how your CPA license will provide a significant salary boost early on in your career. The BLS Occupational Outlook Handbook states that employment of accountants and auditors is expected to increase by 4 percent from 2022 to 2032. Accountants and auditors are expected to have 126,500 job openings per year on average over the next decade. Many of those positions are expected to be filled as a result of the need to replace workers who change occupations or leave the labor force, such as to retire.

• A degree in accounting allows you to enter the profession immediately in a variety of fields and earn a competitive salary as an accountant.
• Accountants working in urban areas and financial hubs generally earn higher salaries than those in rural areas due to the higher cost of living and increased demand for their expertise.
• Accounting, tax preparation, bookkeeping and payroll services employ the largest number of accounting professionals, offering an average salary of $85,050 in 2020.
• CPAs with less than one year of experience earn an average of $78,000 a year, while those with more than 20 years of experience earn an average of $150,000 annually.
• It’s estimated that 75 percent of today’s CPAs will retire in next 15 years⁸.
• That works out to a 8% change in pay for accountants over the last decade.

Our team of reviewers are established professionals with decades of experience in areas of personal finance and hold many advanced degrees and certifications. Accountants can increase their earnings by pursuing further certifications, such as becoming a CPA or CMA, as these credentials enhance their credibility and marketability. Additionally, upskilling and gaining more experience in their field can lead to higher remuneration. Choosing a high-demand specialization and staying updated with industry trends can also contribute to higher earnings.

In some cases, large organizations offer more perks and amenities to their employees, like gyms, cafeterias, and daycare centers, than smaller companies. On the other hand, people have more say over the perks and benefits they get because smaller businesses can be more flexible and listen to their needs. Integrity Network members typically work full time in their industry profession and review content for Accounting.com as a side project. All Integrity Network members are paid members of the Red Ventures Education Integrity Network. Most immigrants eligible for naturalization apply for citizenship, but not all do.

• An accountant’s salary ranges from $41,000 a year at the 10th percentile to $72,000 at the 90th percentile.
• Overall, accountants are often well-paid, so it is best to first identify where you’d enjoy living and align your wage expectations accordingly.
• An accountant oversees a company’s finances, tracking and organizing records to keep companies both cost-effective and compliant with the law.
• India (about 145,000) and China (about 90,000) were the next largest sources of immigrants.
• CPA licensure also shows you have the skills and knowledge to practice in private and public accounting, which gives you a leg up when it comes to negotiating compensation or opportunities.
• Accounting is a diverse field with numerous specializations, each with its unique salary range.
• These figures are averages, and actual salaries can deviate based on the aforementioned factors.

But to understand how far your salary will go in each state, you’ll also need to consider the cost of living in each. For example, CPAs make the most in DC at $110,140 per year, but they also need to include $78,809 for cost of living³. A financial professional will offer guidance based on the information provided and offer a no-obligation call to better understand your situation. Additionally, degrees from prestigious universities or in-demand fields can further enhance an accountant’s salary. Over the next 3 years, openings for accountant and auditor positions are projected to increase.

High demand for CPAs

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