{"id":128216,"date":"2024-08-15t12:30:38","date_gmt":"2024-08-15t16:30:38","guid":{"rendered":"\/\/www.g005e.com\/?p=128216"},"modified":"2024-10-26t23:34:48","modified_gmt":"2024-10-27t03:34:48","slug":"cornerstone-accountants-auditors-cpa-jobs-employment-and-wage-salaries-salary-pay-compensation-analysis-outlook","status":"publish","type":"post","link":"\/\/www.g005e.com\/2024\/08\/15\/cornerstone-accountants-auditors-cpa-jobs-employment-and-wage-salaries-salary-pay-compensation-analysis-outlook\/","title":{"rendered":"jobs outlook: strong and steady growth in hiring and earnings for u.s. accountants"},"content":{"rendered":"
\nuser guide to the jobs report<\/strong><\/h2>\n
\n
- executive summary<\/strong><\/li>\n
- overview<\/strong><\/li>\n
- key responsibilities<\/strong><\/li>\n
- types of accountants and auditors<\/strong><\/li>\n
- work environment<\/strong><\/li>\n
- education and certification<\/strong><\/li>\n
- skills and qualities<\/strong><\/li>\n
- job outlook<\/strong><\/li>\n
- salary information<\/strong><\/li>\n
- related occupations<\/strong><\/li>\n
- national employment trends<\/strong><\/li>\n<\/ul>\n
\n
- \n
\n
- employment of accountants and auditors (2012-2031)<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n
salary trends<\/strong><\/p>\n
\n
- \n
\n
- median annual salary for accountants and auditors (2012-2031)<\/li>\n
- percentile salary estimates for accountants and auditors (2012-2031)<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n
geographic analysis<\/strong><\/p>\n
\n
- \n
\n
- top 5 states by employment level (2012-2031)<\/li>\n
- states with the highest concentration of jobs (2012-2031)<\/li>\n
- top paying states for accountants and auditors (2012-2031)<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n
conclusions and recommendations<\/strong><\/p>\n
appendices<\/strong><\/p>\n
\n
- \n
\n
- the outlook for the staffing shortage<\/li>\n
- top ten lists<\/li>\n
- faqs<\/li>\n
- index of tables<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<\/blockquote>\n
executive summary<\/strong><\/h2>\n
\n
- key findings:<\/strong>\n
\n
- the accounting and auditing profession is set for steady growth in both employment and salary from 2012 to 2031.<\/li>\n
- salary growth is expected to outpace employment growth. suggesting increasing value placed on accountant skills.<\/li>\n
- the widening salary gap within the profession indicates potential for specialization and career advancement but raises concerns about income inequality.<\/li>\n
- professionals must consider certain geographic and industry-specific trends when making career decisions or planning for future workforce needs.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n
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.<\/p>\n<\/div>\n
\ncurrent population of cpas<\/strong><\/p>\n
\n
- 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. \u00a0<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n\n\n\n\n\nemployment trends:<\/strong><\/p>\n
\n
- steady growth in employment of accountants and auditors from 2012 to 2031, with a cagr of approximately 1.07 percent.<\/li>\n
- employment dipped in 2020 due to the covid-19 pandemic but is projected to recover and continue growing.<\/li>\n<\/ul>\n
salary trends:<\/strong><\/p>\n
\n
- the median annual salary for accountants and auditors has been consistently upward, with a cagr of approximately 1.86 percent.<\/li>\n
- salary growth outpaces employment growth, indicating the increasing value of accounting and auditing skills.<\/li>\n<\/ul>\n
geographic analysis:<\/strong><\/p>\n
\n
- top employment states:<\/strong> california, new york, texas, florida, and pennsylvania.<\/li>\n
- highest job concentration:<\/strong> district of columbia, followed by south dakota, rhode island, new york, and virginia.<\/li>\n
- top paying states:<\/strong> new york, district of columbia, new jersey, california, and massachusetts.<\/li>\n<\/ul>\n
job outlook:<\/strong><\/p>\n
\n
- projected employment growth of 6% from 2021 to 2031, driven by globalization, economic growth, and complex tax and regulatory environments.<\/li>\n<\/ul>\n
salary information:<\/strong><\/p>\n
\n
- median annual salary $77,250, with the lowest 10% earning less than $47,970 and the highest 10% earning more than $128,970.<\/li>\n<\/ul>\n
education and certification:<\/strong><\/p>\n
\n
- a bachelor\u2019s degree in accounting or a related field is typically required; a master\u2019s degree is preferred by some employers.<\/li>\n
- common certifications include cpa, cma, and cia, which enhance job prospects and potential earnings.<\/li>\n<\/ul>\n
skills and qualities:<\/strong><\/p>\n
\n
- analytical skills, attention to detail, mathematical proficiency, communication, and organizational skills are crucial.<\/li>\n<\/ul>\n
related occupations:<\/strong><\/p>\n
\n
- financial analysts, budget analysts, financial managers, and personal financial advisors share similar skill sets and job functions.<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n\n\n\n\n\n\n\n\n\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\noverview<\/strong><\/h2>\n
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.<\/p>\n
key responsibilities<\/strong><\/h2>\n
\n
- examining financial records<\/strong>: accountants and auditors examine financial statements to ensure they are accurate and comply with laws and regulations.<\/li>\n
- preparing tax returns<\/strong>: they prepare tax returns and ensure that taxes are paid properly and on time.<\/li>\n
- inspecting account books<\/strong>: auditors inspect account books and accounting systems for efficiency and use of accepted accounting procedures.<\/li>\n
- organizational efficiency<\/strong>: they suggest ways to reduce costs, enhance revenues, and improve profits.<\/li>\n
- ensuring compliance<\/strong>: accountants and auditors ensure that financial statements and records comply with laws and regulations.<\/li>\n<\/ul>\n
types of accountants and auditors<\/strong><\/h2>\n
\n
- public accountants<\/strong>: provide a range of accounting, auditing, tax, and consulting services for various clients, including corporations, governments, and individuals.<\/li>\n
- management accountants<\/strong>: also known as cost, managerial, industrial, corporate, or private accountants, they record and analyze financial information for the organizations where they work.<\/li>\n
- government accountants<\/strong>: maintain and examine records of government agencies and audit private businesses and individuals whose activities are subject to government regulations or taxation.<\/li>\n
- internal auditors<\/strong>: check for mismanagement of an organization\u2019s funds and identify ways to improve processes for finding and eliminating waste and fraud.<\/li>\n<\/ul>\n
work environment<\/strong><\/h2>\n
\n
- office settings<\/strong>: most accountants and auditors work in offices, although some may work from home.<\/li>\n
- travel<\/strong>: some accountants and auditors travel to their clients’ places of business.<\/li>\n
- full-time work<\/strong>: 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.<\/li>\n<\/ul>\n
education and certification<\/strong><\/h2>\n
\n
- education<\/strong>: a bachelor\u2019s degree in accounting or a related field is typically required. some employers prefer candidates with a master\u2019s degree in accounting or business administration with a concentration in accounting.<\/li>\n
- certification<\/strong>: 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).<\/li>\n<\/ul>\n
skills and qualities<\/strong><\/h2>\n
\n
- analytical skills<\/strong>: ability to identify issues in documentation and suggest solutions.<\/li>\n
- detail-oriented<\/strong>: precision and attention to detail are crucial in accounting.<\/li>\n
- math skills<\/strong>: strong mathematical skills are essential.<\/li>\n
- communication skills<\/strong>: ability to explain complex financial information in understandable terms.<\/li>\n
- organizational skills<\/strong>: efficiently manage multiple tasks and deadlines.<\/li>\n<\/ul>\n
job outlook<\/strong><\/h2>\n
\n
- growth rate<\/strong>: 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.<\/li>\n
- demand<\/strong>: the demand for accountants and auditors is expected to increase due to globalization, a growing economy, and a complex tax and regulatory environment.<\/li>\n<\/ul>\n
today’s most in-demand roles<\/strong><\/h2>\n
\n
- accounting manager<\/li>\n
- accounts payable specialist<\/li>\n
- accounts receivable specialist<\/li>\n
- bookkeeper<\/li>\n
- corporate controller<\/li>\n
- director of finance<\/li>\n
- payroll specialist\/administrator<\/li>\n
- senior accountant<\/li>\n
- staff accountant<\/li>\n<\/ul>\n
employment of accountants and auditors (2012-2031)<\/strong><\/h2>\n
\n\n\n
\n \nyear<\/th>\n employment<\/th>\n<\/tr>\n<\/thead>\n \n 2012<\/td>\n 1,275,400<\/td>\n<\/tr>\n \n 2013<\/td>\n 1,275,400<\/td>\n<\/tr>\n \n 2014<\/td>\n 1,332,700<\/td>\n<\/tr>\n \n 2015<\/td>\n 1,334,300<\/td>\n<\/tr>\n \n 2016<\/td>\n 1,363,400<\/td>\n<\/tr>\n \n 2017<\/td>\n 1,397,700<\/td>\n<\/tr>\n \n 2018<\/td>\n 1,424,000<\/td>\n<\/tr>\n \n 2019<\/td>\n 1,436,100<\/td>\n<\/tr>\n \n 2020<\/td>\n 1,392,200<\/td>\n<\/tr>\n \n 2021<\/td>\n 1,392,200<\/td>\n<\/tr>\n \n 2022<\/td>\n 1,449,800<\/td>\n<\/tr>\n \n 2023<\/td>\n 1,435,770<\/td>\n<\/tr>\n \n 2024<\/td>\n 1,451,000<\/td>\n<\/tr>\n \n 2025<\/td>\n 1,466,000<\/td>\n<\/tr>\n \n 2026<\/td>\n 1,481,000<\/td>\n<\/tr>\n \n 2027<\/td>\n 1,496,000<\/td>\n<\/tr>\n \n 2028<\/td>\n 1,511,000<\/td>\n<\/tr>\n \n 2029<\/td>\n 1,526,000<\/td>\n<\/tr>\n \n 2030<\/td>\n 1,541,000<\/td>\n<\/tr>\n \n 2031<\/td>\n 1,556,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n <\/p>\n
salary information<\/strong><\/h2>\n
\n
- median annual salary<\/strong>: the median annual salary for accountants and auditors was $77,250.<\/li>\n
- range<\/strong>: the lowest 10 percent earned less than $47,970, and the highest 10 percent earned more than $128,970.<\/li>\n<\/ul>\n
high-opportunity occupations<\/strong><\/p>\n
competitive job market:<\/strong> accountant skills are among the most in-demand skills in a broad range of industries.<\/figcaption><\/figure>\n <\/p>\n
related occupations<\/strong><\/p>\n
\n
- financial analysts<\/strong>: provide guidance to businesses and individuals making investment decisions.<\/li>\n
- budget analysts<\/strong>: help public and private institutions organize their finances.<\/li>\n
- financial managers<\/strong>: responsible for the financial health of an organization.<\/li>\n
- personal financial advisors<\/strong>: provide advice on investments, insurance, mortgages, college savings, estate planning, taxes, and retirement.<\/li>\n<\/ul>\n
most new jobs<\/strong>
\n<\/a><\/h2>\n<\/a>
job growth for accountants:<\/strong> 67.400 new accountants will be needed, ranking the profession among the 20 fastest-growing.<\/figcaption><\/figure>\n employment trends<\/strong><\/h2>\n