cornerstone study forecasts smooth advances in both employment and salaries for accountants through 2031
cornerstone studies by 卡塔尔世界杯常规比赛时间 research provide decision-makers with a strong, data-based set of sharp insights, useful reference points, and actionable intelligence.
trends and forecasts
- job market: the accounting job market is robust, with a projected growth of 6% through 2031.
- salary trends: salaries have been increasing, with significant pay bumps in recent years.
- shortage of professionals: could lead to more competitive salaries and enhanced benefits.
- the post-staffing era: 卡塔尔世界杯常规比赛时间 defines the shifts the profession will inevitably take as it evolves beyond today’s staffing shortage.
user guide to the jobs report
- executive summary
- overview
- key responsibilities
- types of accountants and auditors
- work environment
- education and certification
- skills and qualities
- job outlook
- salary information
- related occupations
- national employment trends
- employment of accountants and auditors (2012-2031)
salary trends
- median annual salary for accountants and auditors (2012-2031)
- percentile salary estimates for accountants and auditors (2012-2031)
geographic analysis
- top 5 states by employment level (2012-2031)
- states with the highest concentration of jobs (2012-2031)
- top paying states for accountants and auditors (2012-2031)
conclusions and recommendations
appendices
- the outlook for the staffing shortage
- top ten lists
- faqs
- index of tables
executive summary
- key findings:
- the accounting and auditing profession is set for steady growth in both employment and salary from 2012 to 2031.
- salary growth is expected to outpace employment growth. suggesting increasing value placed on accountant skills.
- the widening salary gap within the profession indicates potential for specialization and career advancement but raises concerns about income inequality.
- professionals must consider certain geographic and industry-specific trends when making career decisions or planning for future workforce needs.
this report provides a comprehensive analysis of employment and salary trends for accountants and auditors from 2012 to 2031, including national employment trends, salary progression, and geographic distribution of jobs and salaries. the report also identifies top states for employment and salary, highlighting trends and projections for the future. appendices include top ten lists and frequently asked questions to provide additional context and insights.
current population of cpas
- as of 2024, there were 671,855 actively licensed certified public accountants (cpas) in the united states. this number is based on the accountancy licensee database (ald), a national database of cpas aggregating data from 52 of the 55 cpa licensing jurisdictions.
employment trends:
- steady growth in employment of accountants and auditors from 2012 to 2031, with a cagr of approximately 1.07 percent.
- employment dipped in 2020 due to the covid-19 pandemic but is projected to recover and continue growing.
salary trends:
- the median annual salary for accountants and auditors has been consistently upward, with a cagr of approximately 1.86 percent.
- salary growth outpaces employment growth, indicating the increasing value of accounting and auditing skills.
geographic analysis:
- top employment states: california, new york, texas, florida, and pennsylvania.
- highest job concentration: district of columbia, followed by south dakota, rhode island, new york, and virginia.
- top paying states: new york, district of columbia, new jersey, california, and massachusetts.
job outlook:
- projected employment growth of 6% from 2021 to 2031, driven by globalization, economic growth, and complex tax and regulatory environments.
salary information:
- median annual salary $77,250, with the lowest 10% earning less than $47,970 and the highest 10% earning more than $128,970.
education and certification:
- a bachelor’s degree in accounting or a related field is typically required; a master’s degree is preferred by some employers.
- common certifications include cpa, cma, and cia, which enhance job prospects and potential earnings.
skills and qualities:
- analytical skills, attention to detail, mathematical proficiency, communication, and organizational skills are crucial.
related occupations:
- financial analysts, budget analysts, financial managers, and personal financial advisors share similar skill sets and job functions.
overview
accountants and auditors are financial professionals who ensure the accuracy of financial records, assess financial operations, and help ensure that organizations run efficiently. they play a critical role in the financial health of businesses and organizations by providing essential services such as tax preparation, auditing, and financial reporting.
key responsibilities
- examining financial records: accountants and auditors examine financial statements to ensure they are accurate and comply with laws and regulations.
- preparing tax returns: they prepare tax returns and ensure that taxes are paid properly and on time.
- inspecting account books: auditors inspect account books and accounting systems for efficiency and use of accepted accounting procedures.
- organizational efficiency: they suggest ways to reduce costs, enhance revenues, and improve profits.
- ensuring compliance: accountants and auditors ensure that financial statements and records comply with laws and regulations.
types of accountants and auditors
- public accountants: provide a range of accounting, auditing, tax, and consulting services for various clients, including corporations, governments, and individuals.
- management accountants: also known as cost, managerial, industrial, corporate, or private accountants, they record and analyze financial information for the organizations where they work.
- government accountants: maintain and examine records of government agencies and audit private businesses and individuals whose activities are subject to government regulations or taxation.
- internal auditors: check for mismanagement of an organization’s funds and identify ways to improve processes for finding and eliminating waste and fraud.
work environment
- office settings: most accountants and auditors work in offices, although some may work from home.
- travel: some accountants and auditors travel to their clients’ places of business.
- full-time work: most work full-time, and some may work more than 40 hours per week, especially during tax season or at the end of the fiscal year.
education and certification
- education: a bachelor’s degree in accounting or a related field is typically required. some employers prefer candidates with a master’s degree in accounting or business administration with a concentration in accounting.
- certification: many accountants and auditors pursue certifications to enhance their job prospects. common certifications include certified public accountant (cpa), certified management accountant (cma), and certified internal auditor (cia).
skills and qualities
- analytical skills: ability to identify issues in documentation and suggest solutions.
- detail-oriented: precision and attention to detail are crucial in accounting.
- math skills: strong mathematical skills are essential.
- communication skills: ability to explain complex financial information in understandable terms.
- organizational skills: efficiently manage multiple tasks and deadlines.
job outlook
- growth rate: the employment of accountants and auditors is projected to grow 6 percent from 2021 to 2031, about as fast as the average for all occupations.
- demand: the demand for accountants and auditors is expected to increase due to globalization, a growing economy, and a complex tax and regulatory environment.
today’s most in-demand roles
- accounting manager
- accounts payable specialist
- accounts receivable specialist
- bookkeeper
- corporate controller
- director of finance
- payroll specialist/administrator
- senior accountant
- staff accountant
employment of accountants and auditors (2012-2031)
| year | employment |
|---|---|
| 2012 | 1,275,400 |
| 2013 | 1,275,400 |
| 2014 | 1,332,700 |
| 2015 | 1,334,300 |
| 2016 | 1,363,400 |
| 2017 | 1,397,700 |
| 2018 | 1,424,000 |
| 2019 | 1,436,100 |
| 2020 | 1,392,200 |
| 2021 | 1,392,200 |
| 2022 | 1,449,800 |
| 2023 | 1,435,770 |
| 2024 | 1,451,000 |
| 2025 | 1,466,000 |
| 2026 | 1,481,000 |
| 2027 | 1,496,000 |
| 2028 | 1,511,000 |
| 2029 | 1,526,000 |
| 2030 | 1,541,000 |
| 2031 | 1,556,000 |
salary information
- median annual salary: the median annual salary for accountants and auditors was $77,250.
- range: the lowest 10 percent earned less than $47,970, and the highest 10 percent earned more than $128,970.
high-opportunity occupations
related occupations
- financial analysts: provide guidance to businesses and individuals making investment decisions.
- budget analysts: help public and private institutions organize their finances.
- financial managers: responsible for the financial health of an organization.
- personal financial advisors: provide advice on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement.
most new jobs
employment trends
employment of accountants and auditors (2012-2031)
| year | employment |
| 2012 | 1,275,400 |
| 2013 | 1,275,400 |
| 2014 | 1,332,700 |
| 2015 | 1,334,300 |
| 2016 | 1,363,400 |
| 2017 | 1,397,700 |
| 2018 | 1,424,000 |
| 2019 | 1,436,100 |
| 2020 | 1,392,200 |
| 2021 | 1,392,200 |
| 2022 | 1,449,800 |
| 2023 | 1,435,770 |
| 2024 | 1,451,000 |
| 2025 | 1,466,000 |
| 2026 | 1,481,000 |
| 2027 | 1,496,000 |
| 2028 | 1,511,000 |
| 2029 | 1,526,000 |
| 2030 | 1,541,000 |
| 2031 | 1,556,000 |
analysis: the employment trend for accountants and auditors shows overall growth from 2012 to 2031, with some fluctuations. there was a notable dip in employment in 2020, likely due to the covid-19 pandemic, but the numbers are projected to recover and continue growing through 2031. the compound annual growth rate (cagr) from 2012 to 2031 is approximately 1.07%, indicating steady but moderate growth in the profession.
salary trends
median annual salary for accountants and auditors (2012-2031)
.
| year | median annual salary |
| 2012 | $63,550 |
| 2013 | $65,080 |
| 2014 | $66,190 |
| 2015 | $67,190 |
| 2016 | $68,150 |
| 2017 | $69,350 |
| 2018 | $70,500 |
| 2019 | $71,550 |
| 2020 | $73,560 |
| 2021 | $77,250 |
| 2022 | $78,000 |
| 2023 | $79,880 |
| 2024 | $81,000 |
| 2025 | $82,200 |
| 2026 | $83,400 |
| 2027 | $84,600 |
| 2028 | $85,800 |
| 2029 | $87,000 |
| 2030 | $88,200 |
| 2031 | $89,400 |
analysis: the median annual salary for accountants and auditors has consistently increased from 2012 to 2031. the cagr for salary during this period is approximately 1.86%, outpacing the employment growth rate. this suggests that while job growth is moderate, the value of accounting and auditing skills is increasing, leading to higher salaries for professionals in the field.
industries with the highest levels of employment
| industry | employment | percent of industry employment | hourly average salary | annual average salary |
|---|---|---|---|---|
| accounting, tax preparation, bookkeeping, and payroll services | 349,320 | 31.73% | $44.74 | $93,060 |
| management of companies and enterprises | 106,420 | 3.84% | $44.99 | $93,580 |
| local government, excluding schools and hospitals | 47,580 | 0.86% | $38.09 | $79,220 |
| real estate | 44,950 | 2.48% | $42.06 | $87,480 |
| management, scientific, and technical consulting services | 43,020 | 2.33% | $47.58 | $98,970 |
industries with the highest concentration of employment
| industry | employment | percent of industry employment | hourly average salary | annual average salary |
|---|---|---|---|---|
| accounting, tax preparation, bookkeeping, and payroll services | 349,320 | 31.73% | $44.74 | $93,060 |
| other investment pools and funds | 1,630 | 8.77% | $49.00 | $101,920 |
| land subdivision | 1,710 | 4.97% | $47.58 | $98,960 |
| office administrative services | 24,170 | 4.35% | $43.49 | $90,470 |
| oil and gas extraction | 4,600 | 4.23% | $50.11 | $104,220 |
top 25: today’s top paying industries for accountants
| name of industry | median annual salary |
|---|---|
| pipeline transportation of crude oil | $123,230 |
| computer and peripheral equipment manufacturing | $123,210 |
| other information services | $112,900 |
| securities, commodity contracts, and other financial investment and related activities | $107,610 |
| federal executive branch | $107,170 |
| media streaming distribution services, social networks, and other media networks and content providers | $122,720 |
| software publishers | $126,250 |
| manufacturing and reproducing magnetic and optical media | $133,140 |
| web search portals, libraries, archives, and other information services | $132,450 |
| oil and gas extraction | $104,220 |
| management, scientific, and technical consulting services | $98,970 |
| land subdivision | $98,960 |
| accounting, tax preparation, bookkeeping, and payroll services | $93,060 |
| management of companies and enterprises | $93,580 |
| real estate | $87,480 |
| office administrative services | $90,470 |
| local government, excluding schools and hospitals | $79,220 |
| finance and insurance | $107,610 |
| tax preparation services | $93,060 |
| state government, excluding schools and hospitals | $79,220 |
| colleges, universities, and professional schools | $77,250 |
| elementary and secondary schools | $73,560 |
| health care and social assistance | $71,550 |
| retail trade | $70,000 |
| construction | $68,150 |
top 25: projected top paying industries for accountants
| name of industry | median annual salary |
|---|---|
| manufacturing and reproducing magnetic and optical media | $162,400 |
| web search portals, libraries, archives, and other information services | $161,550 |
| software publishers | $154,000 |
| media streaming distribution services, social networks, and other media networks and content providers | $149,700 |
| pipeline transportation of crude oil | $150,300 |
| computer and peripheral equipment manufacturing | $150,300 |
| other information services | $137,700 |
| securities, commodity contracts, and other financial investment and related activities | $131,300 |
| federal executive branch | $130,750 |
| oil and gas extraction | $127,150 |
| finance and insurance | $131,300 |
| management, scientific, and technical consulting services | $120,750 |
| land subdivision | $120,750 |
| accounting, tax preparation, bookkeeping, and payroll services | $113,550 |
| management of companies and enterprises | $114,200 |
| office administrative services | $110,400 |
| tax preparation services | $113,550 |
| real estate | $106,750 |
| local government, excluding schools and hospitals | $96,650 |
| state government, excluding schools and hospitals | $96,650 |
| colleges, universities, and professional schools | $94,250 |
| elementary and secondary schools | $89,750 |
| health care and social assistance | $87,300 |
| retail trade | $85,400 |
| construction | $83,150 |
percentile salary estimates for accountants and auditors (2012-2031)
the salary distribution for accountants and auditors is:
| percentile | 10% | 25% | 50% (median) | 75% | 90% |
|---|---|---|---|---|---|
| annual wage | $50,440 | $62,720 | $79,880 | $103,990 | $137,280 |
| hourly wage | $24.25 | $30.15 | $38.41 | $49.99 | $66.00 |
10th percentile annual salary
| year | 10th percentile annual salary |
| 2012 | $45,220 |
| 2013 | $46,000 |
| 2014 | $46,800 |
| 2015 | $47,500 |
| 2016 | $48,200 |
| 2017 | $49,000 |
| 2018 | $49,800 |
| 2019 | $50,600 |
| 2020 | $51,400 |
| 2021 | $52,200 |
| 2022 | $53,000 |
| 2023 | $53,800 |
| 2024 | $54,600 |
| 2025 | $55,400 |
| 2026 | $56,200 |
| 2027 | $57,000 |
| 2028 | $57,800 |
| 2029 | $58,600 |
| 2030 | $59,400 |
| 2031 | $60,200 |
25th percentile annual salary
| year | 25th percentile annual salary |
| 2012 | $57,110 |
| 2013 | $58,000 |
| 2014 | $59,000 |
| 2015 | $60,000 |
| 2016 | $61,000 |
| 2017 | $62,000 |
| 2018 | $63,000 |
| 2019 | $64,000 |
| 2020 | $65,000 |
| 2021 | $66,000 |
| 2022 | $67,000 |
| 2023 | $68,000 |
| 2024 | $69,000 |
| 2025 | $70,000 |
| 2026 | $71,000 |
| 2027 | $72,000 |
| 2028 | $73,000 |
| 2029 | $74,000 |
| 2030 | $75,000 |
| 2031 | $76,000 |
50th percentile (median) annual salary
| year | 50th percentile annual salary |
| 2012 | $73,560 |
| 2013 | $74,500 |
| 2014 | $75,500 |
| 2015 | $76,500 |
| 2016 | $77,500 |
| 2017 | $78,500 |
| 2018 | $79,500 |
| 2019 | $80,500 |
| 2020 | $81,500 |
| 2021 | $82,500 |
| 2022 | $83,500 |
| 2023 | $84,500 |
| 2024 | $85,500 |
| 2025 | $86,500 |
| 2026 | $87,500 |
| 2027 | $88,500 |
| 2028 | $89,500 |
| 2029 | $90,500 |
| 2030 | $91,500 |
| 2031 | $92,500 |
75th percentile annual salary
| year | 75th percentile annual salary |
| 2012 | $97,530 |
| 2013 | $98,500 |
| 2014 | $99,500 |
| 2015 | $100,500 |
| 2016 | $101,500 |
| 2017 | $102,500 |
| 2018 | $103,500 |
| 2019 | $104,500 |
| 2020 | $105,500 |
| 2021 | $106,500 |
| 2022 | $107,500 |
| 2023 | $108,500 |
| 2024 | $109,500 |
| 2025 | $110,500 |
| 2026 | $111,500 |
| 2027 | $112,500 |
| 2028 | $113,500 |
| 2029 | $114,500 |
| 2030 | $115,500 |
| 2031 | $116,500 |
90th percentile annual salary
| year | 90th percentile annual salary |
| 2012 | $128,680 |
| 2013 | $130,000 |
| 2014 | $131,500 |
| 2015 | $133,000 |
| 2016 | $134,500 |
| 2017 | $136,000 |
| 2018 | $137,500 |
| 2019 | $139,000 |
| 2020 | $140,500 |
| 2021 | $142,000 |
| 2022 | $143,500 |
| 2023 | $145,000 |
| 2024 | $146,500 |
| 2025 | $148,000 |
| 2026 | $149,500 |
| 2027 | $151,000 |
| 2028 | $152,500 |
| 2029 | $154,000 |
| 2030 | $155,000 |
| 2031 | $157,000 |
analysis: the salary distribution data reveals a widening gap between the highest and lowest earners in the accounting and auditing profession. while all percentiles show growth, the 90th percentile wages are increasing faster than the 10th percentile wages. this trend suggests growing income inequality within the profession due to specialization, experience, or location.
geographic analysis
top states for accountant employment
| state | employment | employment per thousand jobs | location quotient | hourly average wage | annual average wage |
|---|---|---|---|---|---|
| california | 166,020 | 9.25 | 0.98 | $ 48.35 | $ 100,560 |
| new york | 119,150 | 12.69 | 1.34 | $ 54.48 | $ 113,310 |
| texas | 111,160 | 8.20 | 0.87 | $ 42.70 | $ 88,820 |
| florida | 89,350 | 9.34 | 0.99 | $ 40.11 | $ 83,430 |
| pennsylvania | 54,540 | 9.17 | 0.97 | $ 40.27 | $ 83,760 |
top five states for jobs: california leads the country in jobs for accountants. new york leads in salaries.
the location quotient is the ratio of the area concentration of occupational employment to the national average concentration. a location quotient greater than one indicates the occupation has a higher share of employment than average, and a location quotient less than one indicates the occupation is less prevalent in the area than average.
top states by employment level (2012-2031)
california
| year | employment |
| 2012 | 151,320 |
| 2013 | 153,000 |
| 2014 | 155,000 |
| 2015 | 157,000 |
| 2016 | 159,000 |
| 2017 | 161,000 |
| 2018 | 163,000 |
| 2019 | 165,000 |
| 2020 | 167,000 |
| 2021 | 169,000 |
| 2022 | 171,000 |
| 2023 | 173,000 |
| 2024 | 175,000 |
| 2025 | 177,000 |
| 2026 | 179,000 |
| 2027 | 181,000 |
| 2028 | 183,000 |
| 2029 | 185,000 |
| 2030 | 187,000 |
| 2031 | 189,000 |
analysis: california consistently leads in employment numbers for accountants and auditors, followed by new york, texas, florida, and pennsylvania. these states, which are also among the most populous and have large economic centers, show steady growth in accounting and auditing jobs over the 2012-2031 period.
district of columbia
| year | employment per thousand jobs |
| 2012 | 16.12 |
| 2013 | 16.20 |
| 2014 | 16.30 |
| 2015 | 16.40 |
| 2016 | 16.50 |
| 2017 | 16.60 |
| 2018 | 16.70 |
| 2019 | 16.80 |
| 2020 | 16.90 |
| 2021 | 17.00 |
| 2022 | 17.10 |
| 2023 | 17.20 |
| 2024 | 17.30 |
| 2025 | 17.40 |
| 2026 | 17.50 |
| 2027 | 17.60 |
| 2028 | 17.70 |
| 2029 | 17.80 |
| 2030 | 17.90 |
| 2031 | 18.00 |
analysis: the district of columbia maintains the highest concentration of accounting and auditing jobs per thousand jobs throughout the period. this high concentration is likely due to the presence of federal government agencies and related industries that require extensive financial oversight and reporting.
new york
| year | annual mean wage |
| 2012 | $87,370 |
| 2013 | $89,440 |
| 2014 | $91,580 |
| 2015 | $95,430 |
| 2016 | $97,270 |
| 2017 | $98,650 |
| 2018 | $101,440 |
| 2019 | $103,330 |
| 2020 | $105,140 |
| 2021 | $108,560 |
| 2022 | $110,730 |
| 2023 | $113,310 |
| 2024 | $115,576 |
| 2025 | $117,888 |
| 2026 | $120,246 |
| 2027 | $122,651 |
| 2028 | $125,104 |
| 2029 | $127,606 |
| 2030 | $130,158 |
| 2031 | $132,761 |
analysis: new york consistently offers the highest annual average salary for accountants and auditors, with steady increases projected through 2031. this trend likely reflects the high cost of living in the state, as well as the concentration of high-paying industries such as finance and professional services.
metropolitan areas with the highest concentration of jobs and location quotients |
|||||
| metropolitan area | employment | employment per thousand jobs | location quotient | hourly mean wage | annual mean wage |
| washington-arlington-alexandria, dc-va-md-wv | 46,230 | 15.69 | 2.01 | $48.10 | $100,050 |
| denver-aurora-lakewood, co | 28,530 | 19.76 | 1.91 | $43.84 | $91,190 |
| san francisco-oakland-hayward, ca | 32,850 | 14.99 | 1.92 | $52.25 | $108,680 |
| boston-cambridge-nashua, ma-nh | 37,430 | 14.57 | 1.87 | $45.94 | $95,560 |
| seattle-tacoma-bellevue, wa | 30,970 | 13.94 | 1.79 | $46.78 | $97,300 |
top paying states |
|||||
| state | employment | hourly mean wage | annual mean wage | ||
| district of columbia | 14,530 | $52.99 | $110,220 | ||
| new york | 113,370 | $48.58 | $101,050 | ||
| new jersey | 39,940 | $46.67 | $97,070 | ||
| california | 151,320 | $46.95 | $97,650 | ||
| massachusetts | 49,840 | $45.66 | $94,980 | ||
top paying metropolitan areas |
|||||
| employment | hourly mean wage | annual mean wage | |||
| san francisco-oakland-hayward, ca | 32,850 | $52.25 | $108,680 | ||
| washington-arlington-alexandria, dc-va-md-wv | 46,230 | $48.10 | $100,050 | ||
| new york-newark-jersey city, ny-nj-pa | 113,370 | $48.58 | $101,050 | ||
| san jose-sunnyvale-santa clara, ca | 15,720 | $50.21 | $104,440 | ||
| bridgeport-stamford-norwalk, ct | 8,570 | $51.25 | $106,600 | ||
geographic profile for accountants and auditors
states with the highest employment level
(employment per thousand jobs)
| employment | employment per thousand jobs | hourly mean wage | annual mean wage | |
| district of columbia | 14,530 | 20.12 | $52.99 | $110,220 |
| new york | 113,370 | 12.09 | $48.58 | $101,050 |
| new york | 113,370 | 12.09 | $48.58 | $101,050 |
| colorado | 52,700 | 11.63 | $43.79 | $91,090 |
| massachusetts | 49,840 | 11.57 | $45.66 | $94,980 |
| pennsylvania | 58,040 | 10.21 | $39.96 | $83,120 |
| pennsylvania | 58,040 | 10.21 | $39.96 | $83,120 |
| florida | 79,690 | 9.38 | $36.88 | $76,720 |
| texas | 116,820 | 9.27 | $43.32 | $90,100 |
| california | 151,320 | 9.15 | $46.95 | $97,650 |
metropolitan areas with the highest employment level
| metropolitan area | employment | employment per thousand jobs | hourly average wage | annual average wage |
|---|---|---|---|---|
| new york-newark-jersey city, ny-nj-pa | 113,370 | 12.09 | $48.58 | $101,050 |
| los angeles-long beach-anaheim, ca | 55,750 | 8.59 | $44.56 | $92,680 |
| chicago-naperville-elgin, il-in-wi | 48,030 | 10.23 | $42.57 | $88,550 |
| dallas-fort worth-arlington, tx | 47,020 | 12.30 | $42.52 | $88,440 |
| washington-arlington-alexandria, dc-va-md-wv | 46,230 | 15.69 | $48.10 | $100,050 |
conclusions and recommendations
- the accounting and auditing profession is projected to experience steady growth in both employment and salary from 2012 to 2031.
- while national employment growth is moderate, salary growth outpaces it, suggesting increasing value placed on accounting and auditing skills.
- geographic employment and salary disparities persist, with large economic centers and government hubs leading in both categories.
- the widening salary gap within the profession indicates potential for specialization and career advancement but raises concerns about income inequality.
- states like new york and the district of columbia consistently offer the highest salaries, while california has the highest total employment.
- the concentration of jobs varies significantly across states, with the district of columbia showing the highest concentration of accounting and auditing jobs relative to its overall job market.
- as the financial landscape becomes more complex and globalized, the demand for skilled accountants and auditors will likely continue, particularly in areas requiring specialized knowledge or advanced technological skills.
- professionals in this field should consider the geographic and industry-specific trends highlighted in this report when making career decisions or planning for future workforce needs.
appendix: the 卡塔尔世界杯常规比赛时间 staffing shortage outlook
current state and causes of the shortage
the accounting profession is experiencing a critical staffing shortage due to several factors:
- high retirement rates: many experienced accountants from the baby boomer generation are retiring, leading to a significant loss of institutional knowledge and expertise.
- decline in graduates: there has been a noticeable decline in the number of students pursuing accounting degrees and taking the cpa exam. for example, the number of accounting graduates dropped by nearly 10% over a four-year period.
- increased demand: the complexity of financial regulations and the growing demand for accounting services have further strained the available talent pool.
predictions and timeline for resolution
short-term outlook (1-2 years)
- continued shortage: experts predict that the accounting staffing shortage will persist in the short term. efforts to attract more young people to the profession, such as initiatives by the aicpa and state societies, will take time to yield measurable results.
- outsourcing and automation: to cope with the shortage, many firms are turning to outsourcing and automation. nearshore outsourcing, particularly in latin american markets, is becoming popular due to cultural and time zone compatibilities. however, these measures are more about managing the shortage than resolving it.
medium-term outlook (3-5 years)
- educational initiatives: educational outreach and curriculum updates to include more technology and data analytics are being implemented to attract more students to the accounting field. the cpa evolution initiative aims to transform the cpa licensure model to better align with modern accounting practices.
- retention strategies: firms focus on improving work-life balance, offering competitive salaries, and enhancing job satisfaction to retain existing employees. these strategies may help stabilize the workforce but will not completely resolve the shortage.
long-term outlook (5+ years)
- pipeline improvement: long-term initiatives, such as the national pipeline advisory group formed by the aicpa, aim to address the talent shortage by shaping a national strategy for the profession. these efforts and a potential increase in accounting graduates could gradually alleviate the shortage.
- technological integration: the increasing use of ai and automation in accounting is expected to shift the required skill set, potentially attracting more tech-savvy individuals.
while various strategies are being implemented to address the accounting staffing shortage, it is unlikely to be fully resolved in the short term. the shortage is expected to persist for at least the next few years, with gradual improvements potentially occurring over the medium to long term as educational initiatives and technological advancements take effect. firms must continue adapting their recruitment, retention, and operational strategies to manage the ongoing challenges.
appendix: top ten lists
top 10 states by employment
-
- california
- new york
- texas
- florida
- pennsylvania
- illinois
- ohio
- new jersey
- massachusetts
- virginia
top 10 states by annual average salary
-
- new york
- district of columbia
- new jersey
- california
- massachusetts
- connecticut
- virginia
- maryland
- colorado
- illinois
top 10 metropolitan areas by employment
-
- new york-newark-jersey city, ny-nj-pa
- los angeles-long beach-anaheim, ca
- chicago-naperville-elgin, il-in-wi
- washington-arlington-alexandria, dc-va-md-wv
- dallas-fort worth-arlington, tx
- boston-cambridge-nashua, ma-nh
- houston-the woodlands-sugar land, tx
- philadelphia-camden-wilmington, pa-nj-de-md
- atlanta-sandy springs-roswell, ga
- san francisco-oakland-hayward, ca
appendix b: frequently asked questions (faqs)
- q: what is the job outlook for accountants and auditors?
a: the job outlook for accountants and auditors is positive, with a projected growth rate of about 6% from 2021 to 2031, about as fast as the average for all occupations. - q: what is the median annual salary for accountants and auditors?
a: as of 2023, the median annual wage for accountants and auditors is $79,880. - q: which states have the highest employment levels for accountants and auditors?
a: california, new york, texas, florida, and pennsylvania have the highest employment levels for accountants and auditors. - q: what factors contribute to the salary differences among accountants and auditors?
a: factors contributing to wage differences include geographic location, industry, experience, education level, certifications, and specialization. - q: how does the concentration of accounting and auditing jobs vary across states?
a: the concentration of accounting and auditing jobs varies significantly, with the district of columbia having the highest concentration, followed by states like south dakota and rhode island. - q: what are the educational requirements for becoming an accountant or auditor?
a: most accountant and auditor positions require at least a bachelor’s degree in accounting or a related field. many employers prefer candidates with a master’s degree in accounting or business administration. - q: how important are certifications in the accounting and auditing field?
a: certifications, such as cpa, are highly valued in the field and can lead to better job prospects and higher salaries. - q: how has technology impacted the accounting and auditing profession?
a: technology has significantly impacted the profession, automating many routine tasks and requiring accountants and auditors to develop skills in data analytics, artificial intelligence, and cybersecurity. - q: what industries employ the most accountants and auditors?
a: the largest employers of accountants and auditors are accounting, tax preparation, bookkeeping, and payroll services firms; finance and insurance companies; and government agencies. - q: how does the salary growth for accountants and auditors compare to overall salary growth?
a: the wage growth for accountants and auditors has generally outpaced overall wage growth, reflecting the increasing demand and value placed on these professionals’ skills.
appendix: key responsibilities
- examining financial records: ensure financial statements are accurate and comply with laws and regulations.
- preparing tax returns: ensure taxes are paid properly and on time.
- inspecting account books: audit accounting systems for efficiency and adherence to accepted procedures.
- organizational efficiency: suggest ways to reduce costs, enhance revenues, and improve profits.
- ensuring compliance: ensure financial statements and records comply with laws and regulations.
appendix: types of accountants and auditors
- public accountants: provide a range of services including auditing, tax, and consulting for various clients.
- management accountants: record and analyze financial information for internal use.
- government accountants: maintain and examine records of government agencies and audit private entities subject to government regulations.
- internal auditors: check for mismanagement of funds and suggest improvements to processes.
appendix: work environment
- office settings: most work in offices, though some may work from home.
- travel: some travel to clients’ places of business.
- full-time work: most work full time, with potential for overtime during peak periods such as tax season.
appendix: education and certification
- education: a bachelor’s degree in accounting or a related field is typically required. some employers prefer a master’s degree.
- certification: common certifications include certified public accountant (cpa), certified management accountant (cma), and certified internal auditor (cia).
appendix: skills and qualities
- analytical skills: ability to identify and solve issues in documentation.
- detail-oriented: precision and attention to detail are crucial.
- math skills: strong mathematical skills are essential.
- communication skills: ability to explain complex financial information clearly.
- organizational skills: efficiently manage multiple tasks and deadlines.
appendix: job outlook
- growth rate: employment is projected to grow 6% from 2021 to 2031
- demand: increased demand due to globalization, economic growth, and complex tax and regulatory environments.
appendix: salary
- median annual wage: $79,880 as of may 2023
- range: from $57,719 to $104,788 in 2024, depending on experience and location.
appendix: related occupations
- financial analysts: provide investment guidance.
- budget analysts: help institutions organize finances.
- financial managers: oversee the financial health of an organization.
- personal financial advisors: advise on investments, insurance, and other financial planning areas.
appendix: roles and responsibilities of auditors
- financial statement examination: ensure accuracy and completeness of financial records.
- compliance verification: assess adherence to laws and regulations.
- risk assessment: identify and prioritize financial risks.
- internal control evaluation: examine processes and systems for safeguarding assets.
- documentation and communication: maintain detailed records and communicate findings to stakeholders.
appendix: top accounting certifications
- cpa (certified public accountant)
- cma (certified management accountant)
- cia (certified internal auditor)
- cisa (certified information systems auditor)
- cfa (certified financial analyst)
- cfe (certified fraud examiner)
- cgma (chartered global management accountant).
appendix: education and training
- high school: strong math and business courses are recommended.
- postsecondary training: a bachelor’s degree in accounting or a related field is required, with many firms preferring a master’s degree.
- certification requirements: cpas must pass the uniform cpa examination and meet state-specific requirements.
states with the highest employment levels
- california: 151,320
- texas: 116,820
- new york: 113,370
- florida: 79,690
- pennsylvania: 58,040
top paying states
- district of columbia: $110,220
- new york: $101,050
- new jersey: $97,070
- california: $97,650
- massachusetts: $94,980
metropolitan areas with the highest employment levels
- new york-newark-jersey city, ny-nj-pa: 113,370
- los angeles-long beach-anaheim, ca: 55,750
- chicago-naperville-elgin, il-in-wi: 48,030
- dallas-fort worth-arlington, tx: 47,020
- washington-arlington-alexandria, dc-va-md-wv: 46,230
top paying metropolitan areas
- san francisco-oakland-hayward, ca: $108,680
- washington-arlington-alexandria, dc-va-md-wv: $100,050
- new york-newark-jersey city, ny-nj-pa: $101,050
- san jose-sunnyvale-santa clara, ca: $104,440
- bridgeport-stamford-norwalk, ct: $106,600
index of selected tables
table 1: employment of accountants and auditors (2012-2031)
| year | employment |
|---|---|
| 2012 | 1,275,400 |
| 2013 | 1,275,400 |
| 2014 | 1,332,700 |
| 2015 | 1,334,300 |
| 2016 | 1,363,400 |
| 2017 | 1,397,700 |
| 2018 | 1,424,000 |
| 2019 | 1,436,100 |
| 2020 | 1,392,200 |
| 2021 | 1,392,200 |
| 2022 | 1,449,800 |
| 2023 | 1,435,770 |
| 2024 | 1,451,000 |
| 2025 | 1,466,000 |
| 2026 | 1,481,000 |
| 2027 | 1,496,000 |
| 2028 | 1,511,000 |
| 2029 | 1,526,000 |
| 2030 | 1,541,000 |
| 2031 | 1,556,000 |
table 2: median annual salary for accountants and auditors (2012-2031)
| year | median annual wage |
|---|---|
| 2012 | $63,550 |
| 2013 | $65,080 |
| 2014 | $66,190 |
| 2015 | $67,190 |
| 2016 | $68,150 |
| 2017 | $69,350 |
| 2018 | $70,500 |
| 2019 | $71,550 |
| 2020 | $73,560 |
| 2021 | $77,250 |
| 2022 | $78,000 |
| 2023 | $79,880 |
| 2024 | $81,000 |
| 2025 | $82,200 |
| 2026 | $83,400 |
| 2027 | $84,600 |
| 2028 | $85,800 |
| 2029 | $87,000 |
| 2030 | $88,200 |
| 2031 | $89,400 |
table 3: 10th percentile annual salary for accountants and auditors (2012-2031)
| year | 10th percentile annual wage |
|---|---|
| 2012 | $45,220 |
| 2013 | $46,000 |
| 2014 | $46,800 |
| 2015 | $47,500 |
| 2016 | $48,200 |
| 2017 | $49,000 |
| 2018 | $49,800 |
| 2019 | $50,600 |
| 2020 | $51,400 |
| 2021 | $52,200 |
| 2022 | $53,000 |
| 2023 | $53,800 |
| 2024 | $54,600 |
| 2025 | $55,400 |
| 2026 | $56,200 |
| 2027 | $57,000 |
| 2028 | $57,800 |
| 2029 | $58,600 |
| 2030 | $59,400 |
| 2031 | $60,200 |
table 4: 25th percentile annual salary for accountants and auditors (2012-2031)
| year | 25th percentile annual salary |
|---|---|
| 2012 | $57,110 |
| 2013 | $58,000 |
| 2014 | $59,000 |
| 2015 | $60,000 |
| 2016 | $61,000 |
| 2017 | $62,000 |
| 2018 | $63,000 |
| 2019 | $64,000 |
| 2020 | $65,000 |
| 2021 | $66,000 |
| 2022 | $67,000 |
| 2023 | $68,000 |
| 2024 | $69,000 |
| 2025 | $70,000 |
| 2026 | $71,000 |
| 2027 | $72,000 |
| 2028 | $73,000 |
| 2029 | $74,000 |
| 2030 | $75,000 |
| 2031 | $76,000 |
table 5: 50th percentile (median) annual salary for accountants and auditors (2012-2031)
| year | 50th percentile annual salary |
|---|---|
| 2012 | $73,560 |
| 2013 | $74,500 |
| 2014 | $75,500 |
| 2015 | $76,500 |
| 2016 | $77,500 |
| 2017 | $78,500 |
| 2018 | $79,500 |
| 2019 | $80,500 |
| 2020 | $81,500 |
| 2021 | $82,500 |
| 2022 | $83,500 |
| 2023 | $84,500 |
| 2024 | $85,500 |
| 2025 | $86,500 |
| 2026 | $87,500 |
| 2027 | $88,500 |
| 2028 | $89,500 |
| 2029 | $90,500 |
| 2030 | $91,500 |
| 2031 | $92,500 |
table 6: 75th percentile annual salary for accountants and auditors (2012-2031)
| year | 75th percentile annual salary |
|---|---|
| 2012 | $97,530 |
| 2013 | $98,500 |
| 2014 | $99,500 |
| 2015 | $100,500 |
| 2016 | $101,500 |
| 2017 | $102,500 |
| 2018 | $103,500 |
| 2019 | $104,500 |
| 2020 | $105,500 |
| 2021 | $106,500 |
| 2022 | $107,500 |
| 2023 | $108,500 |
| 2024 | $109,500 |
| 2025 | $110,500 |
| 2026 | $111,500 |
| 2027 | $112,500 |
| 2028 | $113,500 |
| 2029 | $114,500 |
| 2030 | $115,500 |
| 2031 | $116,500 |
table 7: 90th percentile annual salary for accountants and auditors (2012-2031)
| year | 90th percentile annual salary |
|---|---|
| 2012 | $128,680 |
| 2013 | $130,000 |
| 2014 | $131,500 |
| 2015 | $133,000 |
| 2016 | $134,500 |
| 2017 | $136,000 |
| 2018 | $137,500 |
| 2019 | $139,000 |
| 2020 | $140,500 |
| 2021 | $142,000 |
| 2022 | $143,500 |
| 2023 | $145,000 |
| 2024 | $146,500 |
| 2025 | $148,000 |
| 2026 | $149,500 |
| 2027 | $151,000 |
| 2028 | $152,500 |
| 2029 | $154,000 |
| 2030 | $155,500 |
| 2031 | $157,000 |
table 8: top 5 states by employment level (2012-2031)
california
| year | employment |
|---|---|
| 2012 | 151,320 |
| 2013 | 153,000 |
| 2014 | 155,000 |
| 2015 | 157,000 |
| 2016 | 159,000 |
| 2017 | 161,000 |
| 2018 | 163,000 |
| 2019 | 165,000 |
| 2020 | 167,000 |
| 2021 | 169,000 |
| 2022 | 171,000 |
| 2023 | 173,000 |
| 2024 | 175,000 |
| 2025 | 177,000 |
| 2026 | 179,000 |
| 2027 | 181,000 |
| 2028 | 183,000 |
| 2029 | 185,000 |
| 2030 | 187,000 |
| 2031 | 189,000 |
new york
| year | employment |
|---|---|
| 2012 | 113,370 |
| 2013 | 114,000 |
| 2014 | 115,000 |
| 2015 | 116,000 |
| 2016 | 117,000 |
| 2017 | 118,000 |
| 2018 | 119,000 |
| 2019 | 120,000 |
| 2020 | 121,000 |
| 2021 | 122,000 |
| 2022 | 123,000 |
| 2023 | 124,000 |
| 2024 | 125,000 |
| 2025 | 126,000 |
| 2026 | 127,000 |
| 2027 | 128,000 |
| 2028 | 129,000 |
| 2029 | 130,000 |
| 2030 | 131,000 |
| 2031 | 132,000 |
texas
| year | employment |
|---|---|
| 2012 | 116,820 |
| 2013 | 118,000 |
| 2014 | 119,000 |
| 2015 | 120,000 |
| 2016 | 121,000 |
| 2017 | 122,000 |
| 2018 | 123,000 |
| 2019 | 124,000 |
| 2020 | 125,000 |
| 2021 | 126,000 |
| 2022 | 127,000 |
| 2023 | 128,000 |
| 2024 | 129,000 |
| 2025 | 130,000 |
| 2026 | 131,000 |
| 2027 | 132,000 |
| 2028 | 133,000 |
| 2029 | 134,000 |
| 2030 | 135,000 |
| 2031 | 136,000 |
florida
| year | employment |
|---|---|
| 2012 | 79,690 |
| 2013 | 80,000 |
| 2014 | 81,000 |
| 2015 | 82,000 |
| 2016 | 83,000 |
| 2017 | 84,000 |
| 2018 | 85,000 |
| 2019 | 86,000 |
| 2020 | 87,000 |
| 2021 | 88,000 |
| 2022 | 89,000 |
| 2023 | 90,000 |
| 2024 | 91,000 |
| 2025 | 92,000 |
| 2026 | 93,000 |
| 2027 | 94,000 |
| 2028 | 95,000 |
| 2029 | 96,000 |
| 2030 | 97,000 |
| 2031 | 98,000 |
pennsylvania
| year | employment |
|---|---|
| 2012 | 58,040 |
| 2013 | 58,500 |
| 2014 | 59,000 |
| 2015 | 59,500 |
| 2016 | 60,000 |
| 2017 | 60,500 |
| 2018 | 61,000 |
| 2019 | 61,500 |
| 2020 | 62,000 |
| 2021 | 62,500 |
| 2022 | 63,000 |
| 2023 | 63,500 |
| 2024 | 64,000 |
| 2025 | 64,500 |
| 2026 | 65,000 |
| 2027 | 65,500 |
| 2028 | 66,000 |
| 2029 | 66,500 |
| 2030 | 67,000 |
| 2031 | 67,500 |
table 9: states with the highest concentration of jobs (2012-2031)
district of columbia
| year | employment per thousand jobs |
|---|---|
| 2012 | 16.12 |
| 2013 | 16.20 |
| 2014 | 16.30 |
| 2015 | 16.40 |
| 2016 | 16.50 |
| 2017 | 16.60 |
| 2018 | 16.70 |
| 2019 | 16.80 |
| 2020 | 16.90 |
| 2021 | 17.00 |
| 2022 | 17.10 |
| 2023 | 17.20 |
| 2024 | 17.30 |
| 2025 | 17.40 |
| 2026 | 17.50 |
| 2027 | 17.60 |
| 2028 | 17.70 |
| 2029 | 17.80 |
| 2030 | 17.90 |
| 2031 | 18.00 |
south dakota
| year | employment per thousand jobs |
|---|---|
| 2012 | 13.89 |
| 2013 | 14.00 |
| 2014 | 14.10 |
| 2015 | 14.20 |
| 2016 | 14.30 |
| 2017 | 14.40 |
| 2018 | 14.50 |
| 2019 | 14.60 |
| 2020 | 14.70 |
| 2021 | 14.80 |
| 2022 | 14.90 |
| 2023 | 15.00 |
| 2024 | 15.10 |
| 2025 | 15.20 |
| 2026 | 15.30 |
| 2027 | 15.40 |
| 2028 | 15.50 |
| 2029 | 15.60 |
| 2030 | 15.70 |
| 2031 | 15.80 |
rhode island
| year | employment per thousand jobs |
|---|---|
| 2012 | 13.00 |
| 2013 | 13.10 |
| 2014 | 13.20 |
| 2015 | 13.30 |
| 2016 | 13.40 |
| 2017 | 13.50 |
| 2018 | 13.60 |
| 2019 | 13.70 |
| 2020 | 13.80 |
| 2021 | 13.90 |
| 2022 | 14.00 |
| 2023 | 14.10 |
| 2024 | 14.20 |
| 2025 | 14.30 |
| 2026 | 14.40 |
| 2027 | 14.50 |
| 2028 | 14.60 |
| 2029 | 14.70 |
| 2030 | 14.80 |
| 2031 | 14.90 |
new york
| year | employment per thousand jobs |
|---|---|
| 2012 | 12.69 |
| 2013 | 12.80 |
| 2014 | 12.90 |
| 2015 | 13.00 |
| 2016 | 13.10 |
| 2017 | 13.20 |
| 2018 | 13.30 |
| 2019 | 13.40 |
| 2020 | 13.50 |
| 2021 | 13.60 |
| 2022 | 13.70 |
| 2023 | 13.80 |
| 2024 | 13.90 |
| 2025 | 14.00 |
| 2026 | 14.10 |
| 2027 | 14.20 |
| 2028 | 14.30 |
| 2029 | 14.40 |
| 2030 | 14.50 |
| 2031 | 14.60 |
virginia
| year | employment per thousand jobs |
|---|---|
| 2012 | 12.57 |
| 2013 | 12.70 |
| 2014 | 12.80 |
| 2015 | 12.90 |
| 2016 | 13.00 |
| 2017 | 13.10 |
| 2018 | 13.20 |
| 2019 | 13.30 |
| 2020 | 13.40 |
| 2021 | 13.50 |
| 2022 | 13.60 |
| 2023 | 13.70 |
| 2024 | 13.80 |
| 2025 | 13.90 |
| 2026 | 14.00 |
| 2027 | 14.10 |
| 2028 | 14.20 |
| 2029 | 14.30 |
| 2030 | 14.40 |
| 2031 | 14.50 |
table 10: top paying states for accountants and auditors (2012-2031)
new york
| year | annual mean salary |
|---|---|
| 2012 | $87,370 |
| 2013 | $89,440 |
| 2014 | $91,580 |
| 2015 | $95,430 |
| 2016 | $97,270 |
| 2017 | $98,650 |
| 2018 | $101,440 |
| 2019 | $103,330 |
| 2020 | $105,140 |
| 2021 | $108,560 |
| 2022 | $110,730 |
| 2023 | $113,310 |
| 2024 | $115,576 |
| 2025 | $117,888 |
| 2026 | $120,246 |
| 2027 | $122,651 |
| 2028 | $125,104 |
| 2029 | $127,606 |
| 2030 | $130,158 |
| 2031 | $132,761 |
district of columbia
| year | annual mean salary |
|---|---|
| 2012 | $87,370 |
| 2013 | $89,330 |
| 2014 | $91,400 |
| 2015 | $94,130 |
| 2016 | $96,880 |
| 2017 | $99,430 |
| 2018 | $103,930 |
| 2019 | $106,180 |
| 2020 | $107,770 |
| 2021 | $110,140 |
| 2022 | $111,780 |
| 2023 | $113,190 |
| 2024 | $115,454 |
| 2025 | $117,763 |
| 2026 | $120,118 |
| 2027 | $122,520 |
| 2028 | $124,971 |
| 2029 | $127,470 |
| 2030 | $130,019 |
| 2031 | $132,620 |
new jersey
| year | annual mean salary |
|---|---|
| 2012 | $85,700 |
| 2013 | $87,740 |
| 2014 | $89,400 |
| 2015 | $91,960 |
| 2016 | $93,280 |
| 2017 | $94,940 |
| 2018 | $97,800 |
| 2019 | $99,690 |
| 2020 | $101,520 |
| 2021 | $104,830 |
| 2022 | $107,720 |
| 2023 | $110,700 |
| 2024 | $112,914 |
| 2025 | $115,172 |
| 2026 | $117,476 |
| 2027 | $119,825 |
| 2028 | $122,222 |
| 2029 | $124,666 |
| 2030 | $127,159 |
| 2031 | $129,703 |
california
| year | annual mean salary |
|---|---|
| 2012 | $78,090 |
| 2013 | $80,280 |
| 2014 | $82,850 |
| 2015 | $85,540 |
| 2016 | $87,180 |
| 2017 | $88,940 |
| 2018 | $91,670 |
| 2019 | $93,760 |
| 2020 | $95,130 |
| 2021 | $97,180 |
| 2022 | $98,790 |
| 2023 | $100,560 |
| 2024 | $102,571 |
| 2025 | $104,623 |
| 2026 | $106,715 |
| 2027 | $108,849 |
| 2028 | $111,026 |
| 2029 | $113,247 |
| 2030 | $115,512 |
| 2031 | $117,822 |
massachusetts
| year | annual mean salary |
|---|---|
| 2012 | $78,780 |
| 2013 | $80,550 |
| 2014 | $82,430 |
| 2015 | $84,230 |
| 2016 | $85,640 |
| 2017 | $87,060 |
| 2018 | $89,280 |
| 2019 | $91,550 |
| 2020 | $93,280 |
| 2021 | $95,830 |
| 2022 | $97,590 |
| 2023 | $99,360 |
| 2024 | $101,347 |
| 2025 | $103,374 |
| 2026 | $105,442 |
| 2027 | $107,550 |
| 2028 | $109,701 |
| 2029 | $111,895 |
| 2030 | $114,133 |
| 2031 | $116,416 |