The pay range for accountants varies from industry to industry and depends upon factors like skill, experience and location. In 2002, the median pay rate for accounting was $47,000 in the United States. The low end of this scale earned approximately $30,320 and the high end of this scale earned nearly $82,730. According to a survey conducted in 2003 by the National Association of Colleges and Employers, accountants with a bachelor's degree earned an average starting salary of $40,647 each year and those with a master's degree were offered an average starting salary of about $42,241 each year. Along with an annual salary, experienced accountants may receive bonuses based on accuracy of financial predictions.
During the next decade, openings for accounting are expected to grow at a steady pace. Predictions from Nationwide trends propose that job positions are likely to rise nineteen percent by the year 2012. This suggests that there will be approximately 40,470 job openings for accountants in the United States each year.
This steady job growth is due to an increase in the number of businesses, changing financial laws and regulations and an increasing analysis of company finances. One effect of the accounting scandals of the late 90's is an increased focus on the accuracy of a company's accounting practices. Governmental and industry regulation has increased the number of accountants being hired. Additionally, as the economy grows, the number of businesses and organizations will expand and require more accountants to set up their books, prepare taxes and provide financial management advice. While these businesses continue to grow, the quantity and complexity of information involving costs, expenditures and taxes will also increase. This business growth will require experienced accountants and will cause job positions to expand further.
Accountants are needed in virtually every business and organization throughout the world. The demand for experienced and competitive accountants is rising each year. A career in accounting is a great choice for people with great management and mathematical skills and for people who enjoy always expanding and fast paced jobs.
