cornerstone report
the 卡塔尔世界杯常规比赛时间 overview of what accountants can expect regarding annual salary and bonuses at small cpa firms – and what small cpa firms can expect to budget.
by 卡塔尔世界杯常规比赛时间 research
a combination of a talent shortage and the general economic environment could push payroll budgets up by as much as 16.9% in 2025 at small cpa firms, according to 卡塔尔世界杯常规比赛时间 research. but partners and owners could make even more.
the average annual salary for accountants at small cpa firms in the u.s. is approximately $51,762, ranging from $37,000 (25th percentile) to $73,000 (top earners). salaries at small cpa firms can range from about $44,725 for an accountant to $52,441 for a junior tax accountant.
entry-level cpas earn between $44,000 and $84,500 annually, depending on the location and specific role.
accountants with more experience, particularly those with cpa certification, can earn significantly more. for example, cpas with extensive experience can earn an average salary of $119,000, with those having 20 years of experience potentially earning around $152,000.
current compensation levels at small cpa firms, 2024
compared to mid-tier, large and big four firms
| job role | small firms | mid-tier firms | large firms) | big four |
|---|---|---|---|---|
| cpa partner | $140,000 – $150,000 | $200,000 – $800,000 | $300,000 – $1,000,000 | $300,000 – $3,000,000 |
| audit manager | $95,000 – $120,000 | $93,500 – $110,000 | $98,856 – $110,000 | $98,294 – $119,683 |
| senior accountant | $73,000 – $90,000 | $70,000 – $100,000 | $99,398 – $109,860 | $91,603 – $120,910 |
| tax accountant | $62,000 – $79,000 | $75,072 – $92,512 | $70,000 – $85,000 | $62,000 – $85,000 |
| staff accountant | $51,000 – $62,000 | $49,000 – $57,250 | $57,719 – $69,004 | $57,000 – $65,000 |
projected compensation levels at small cpa firms, 2025
compared to mid-tier, large and big four firms
| job role | small firms | mid-tier firms | large firms | big four firms |
|---|---|---|---|---|
| cpa partner | $150,000 – $160,000 | $210,000 – $850,000 | $320,000 – $1,050,000 | $320,000 – $3,200,000 |
| audit manager | $100,000 – $125,000 | $98,000 – $115,000 | $105,000 – $120,000 | $105,000 – $125,000 |
| senior accountant | $78,000 – $95,000 | $75,000 – $105,000 | $105,000 – $115,000 | $100,000 – $130,000 |
| tax accountant | $65,000 – $82,000 | $80,000 – $97,000 | $75,000 – $90,000 | $70,000 – $90,000 |
| staff accountant | $54,000 – $65,000 | $52,000 – $60,000 | $60,000 – $72,000 | $60,000 – $68,000 |
key changes between 2024 and 2025:
cpa partner
- small firms: increased from $128,105 to $150,000, a 17.1% increase.
- mid-tier firms: increased from $200,000 to $210,000, a 5.0% increase.
- large firms: increased from $300,000 to $320,000, a 6.7% increase.
- big four firms: increased from $300,000 to $320,000, a 6.7% increase.
audit manager
- small firms: increased from $107,500 to $125,000, a 16.3% increase.
- mid-tier firms: increased from $93,500 to $115,000, a 22.9% increase.
- large firms: increased from $98,856 to $120,000, a 21.3% increase.
- big four firms: increased from $98,294 to $125,000, a 27.1% increase.
senior accountant
- small firms: increased from $79,000 to $95,000, a 20.3% increase.
- large firms: increased from $99,398 to $115,000, a 15.7% increase.
- big four firms: increased from $91,603 to $130,000, a 41.9% increase.
tax accountant
- small firms: increased from $70,500 to $82,000, a 16.3% increase.
- mid-tier firms: increased from $75,072 to $97,000, a 29.2% increase.
- big four firms: increased from $62,000 to $70,000, a 12.9% increase.
staff accountant
- small firms: increased from $56,500 to $65,000, a 15.4% increase.
- mid-tier firms: increased from $49,000 to $60,000, a 22.4% increase.
- large firms: increased from $57,719 to $72,000, a 24.7% increase.
- big four firms: increased from $57,000 to $68,000, a 19.3% increase.
bonuses and additional compensation at small cpa firms
- bonus structures:
- bonuses at small cpa firms can vary, with some firms offering discretionary bonuses ranging from $1,000 to $4,000 for senior positions.
- other firms might offer performance-based bonuses, such as $7,500 for hitting specific charge hours.
- overall bonus contribution:
- bonuses can contribute an additional 5% to 10% of the annual compensation for staff at small cpa firms. these bonuses are often tied to performance metrics such as charge hours or client collections.
small cpa firm salaries by experience level
| experience level | average salary |
|---|---|
| entry-level | $66,000 |
| average cpa | $119,000 |
| 20+ years experience | $152,000 |
small cpa firm salaries by percentile
| percentile | annual | monthly | weekly | hourly |
|---|---|---|---|---|
| top earners | $73,000 | $6,083 | $1,403 | $35 |
| 75th percentile | $71,000 | $5,916 | $1,365 | $34 |
| average | $51,762 | $4,313 | $995 | $25 |
| 25th percentile | $37,000 | $3,083 | $711 | $18 |
top 10 highest-paying states for cpas in small firms
the highest-paying states for accountants, including those in small cpa firms, are:
- new york: average salary of $68,366
- new jersey: average salary of $67,833
- massachusetts: average salary of $62,743.
| rank | state | average salary (usd) | 10th percentile (usd) | 90th percentile (usd) |
|---|---|---|---|---|
| 1 | new york | $68,366 | $51,000 | $90,000 |
| 2 | new jersey | $67,833 | $50,000 | $90,000 |
| 3 | massachusetts | $62,743 | $47,000 | $82,000 |
| 4 | connecticut | $62,386 | $47,000 | $82,000 |
| 5 | rhode island | $60,990 | $46,000 | $80,000 |
| 6 | virginia | $60,099 | $44,000 | $80,000 |
| 7 | delaware | $59,242 | $44,000 | $78,000 |
| 8 | maryland | $58,489 | $43,000 | $78,000 |
| 9 | washington | $56,929 | $42,000 | $76,000 |
| 10 | alaska | $55,612 | $45,000 | $67,000 |
top 10 highest-paying cities for cpas in small firms
| rank | city | average salary (usd) |
|---|---|---|
| 1 | washington, d.c. | $110,140 |
| 2 | salinas, ca | $111,680 |
| 3 | new york-newark-jersey city, ny-nj-pa | $105,720 |
| 4 | midland, tx | $103,120 |
| 5 | san jose-sunnyvale-santa clara, ca | $102,920 |
| 6 | san francisco-oakland-hayward, ca | $101,090 |
| 7 | seattle, wa | $75,178 |
| 8 | philadelphia, pa | $69,324 |
| 9 | miami-fort lauderdale-west palm beach, fl | $62,870 |
| 10 | salt lake city, ut | $82,506 |
factors influencing cpa salaries in small firms
while small cpa firms might offer lower base salaries than larger firms, they often provide other benefits, such as work-life balance and opportunities for direct client interaction, which can appeal to many accounting professionals.
- location:
- salaries for cpas can vary significantly based on geographic location. urban areas with a high cost of living, such as new york city or san francisco, typically offer higher salaries to compensate for the increased living expenses. conversely, rural areas often have lower salary ranges and a lower cost of living.
- experience and seniority:
- experience plays a crucial role in determining salary. entry-level cpas generally earn less than their senior counterparts. as cpas gain more experience and responsibilities, their salaries increase significantly.
- certifications and education:
- holding a cpa certification can lead to higher salaries compared to non-certified accountants. the cpa designation is often associated with a 10-15% salary premium.
- firm size and industry specialization:
- smaller firms might offer lower base salaries than larger firms, but they can provide other benefits, such as flexible working conditions. specialization in high-demand areas like tax or audit can also influence salary levels.
differences in compensation between entry-level and senior cpas
- entry-level vs. senior cpas:
- entry-level cpas in small firms can expect to earn around $44,000 to $57,750 annually, depending on the location and specific roles. in contrast, senior cpas or those in managerial positions can earn significantly more, often exceeding $100,000, especially if they are partners or hold specialized roles.
bonuses compared to annual salary
- bonuses:
- bonuses in small cpa firms can vary but often contribute an additional 5-10% to the annual compensation. these bonuses are typically performance-based and can be tied to individual, team, or firm-wide achievements.
top-paying roles within small cpa firms
- high-paying positions:
- some of the top-paying roles in small cpa firms include regional tax manager, cpa partner, and contract cpa. these roles can offer salaries significantly higher than the average cpa salary, ranging from $103,520 to $129,367 annually.
impact of firm size on cpa salaries in small firms
firm size can significantly influence cpa salaries. generally, larger firms offer higher salaries due to their greater resources and larger client bases. however, small firms may provide competitive compensation through bonuses and profit-sharing opportunities, especially for those on the partnership track.
benefits of working as a partner in a small cpa firm
working as a partner in a small cpa firm offers several benefits:
- ownership and profit sharing: partners often have a stake in the firm, allowing them to share in its profits, which can significantly boost their overall compensation.
- influence and leadership: partners in small firms typically have more influence over firm decisions and culture, providing a sense of ownership and leadership opportunities.
- diverse experience: partners in small firms often work across various areas of accounting, gaining a broad range of experiences and skills.
bonuses for cpas in small vs. larger firms
bonuses in small firms can vary widely but are often tied to individual and firm performance. while larger firms may offer structured bonus programs, small firms might provide more flexible and potentially lucrative bonuses tied to profit-sharing or client acquisition. overall, bonuses in larger firms may be more predictable, whereas those in small firms can be more variable but potentially higher for top performers.
job satisfaction differences between cpas in small and large firms
job satisfaction can differ significantly between cpas working in small versus large firms:
- small firms: cpas often enjoy a more flexible work environment, greater variety in work, and closer client relationships, which can lead to higher job satisfaction.
- large firms: while they may offer higher initial salaries and prestige, cpas in large firms often face more rigid structures and specialization, which can lead to a sense of being a “cog in the wheel”.
overall, cpas in small firms may experience greater job satisfaction due to the diverse work, closer client interactions, and opportunities for leadership and influence.
main challenges faced by cpas in small firms
cpas in small firms face several challenges, including:
- relevance and technology: as technology advances, cpas must adapt to remain relevant by providing value beyond traditional accounting tasks. this includes transitioning to roles like financial coaching and advisory services.
- competition: small cpa firms face growing competition from non-cpa firms that offer similar services without adhering to the same professional standards.
- resource constraints: small firms often have limited resources, impacting their ability to invest in technology and staff development.
work-life balance in small vs. large firms
- small firms: typically offer better work-life balance with more flexible schedules and less than 60-hour work weeks. this flexibility allows employees to prioritize personal responsibilities and enjoy more local travel.
- large firms: often have more rigid schedules and higher demands, leading to longer work hours and less flexibility.
career advancement opportunities in small firms
- personalized growth: small firms offer more personalized and dynamic career development opportunities. employees can take on various projects and responsibilities early in their careers, accelerating professional growth.
- mentorship: direct access to seasoned managers and partners provides valuable mentorship and learning opportunities, helping staff advance their careers more quickly.
client relationships in small vs. large cpa firms
- small firms: cpas in small firms often interact more directly with clients, allowing for stronger relationships and a better understanding of client needs. this can lead to more personalized service and satisfaction for the cpa and the client.
- large firms: client interactions may be more formal and less frequent, with cpas often working on specific aspects of a project rather than managing entire client relationships.
typical responsibilities of a cpa partner in a small firm
- client management: partners are responsible for maintaining and developing client relationships, ensuring projects are completed on time and within budget.
- staff oversight: they oversee staff, provide guidance, and ensure high standards of work quality.
- profitability and compliance: partners manage the firm’s finances, develop budgets, and ensure compliance with laws and regulations.
- leadership: they provide strategic direction and leadership, helping to set goals and policies for the firm.