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Azenet
Student
1
Question
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Is being an accountant difficult How much do accountants make per year??
Is studying accounting worth the time.
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10 answers
Xiaojie Johan Liu
Consultant
78
Answers
Boston, Massachusetts
Updated
Xiaojie Johan’s Answer
Hi Azenet,
It depends on the firm, the level and the position, but accountants generally make more money on average than the median US individual, especially at the higher levels. I know at a big four accounting firm, which I happen to work at, entry-level accountants make from 60,000 to 80,000 depending on location and line of work. That is only the beginning. Accounting is in my opinion is a very stable career, but you have to have great attention to detail and have a long attention span.
Best of luck!
Regards,
Johan
It depends on the firm, the level and the position, but accountants generally make more money on average than the median US individual, especially at the higher levels. I know at a big four accounting firm, which I happen to work at, entry-level accountants make from 60,000 to 80,000 depending on location and line of work. That is only the beginning. Accounting is in my opinion is a very stable career, but you have to have great attention to detail and have a long attention span.
Best of luck!
Regards,
Johan
Amaka Ofodum, CPA
Finance
6
Answers
Branchburg, New Jersey
Updated
Amaka’s Answer
Being an accountant is actually quite manageable! The part that might seem a bit tricky is getting to know the ins and outs of the business. This is important because it helps you make sense of what the numbers are saying about the business.
Your initial salary as an accountant can vary. It depends on where you're located, your level of education (like if you have a bachelor's or master's degree), and your previous work experience (like internships). Just to give you an idea, if you're based in the Northeast region, you could expect a starting salary in the ballpark of 55-75K.
And here's a comforting thought: no matter what's happening with the economy, there's always a demand for accountants. So, you're choosing a career that's always in demand. Isn't that great?
Your initial salary as an accountant can vary. It depends on where you're located, your level of education (like if you have a bachelor's or master's degree), and your previous work experience (like internships). Just to give you an idea, if you're based in the Northeast region, you could expect a starting salary in the ballpark of 55-75K.
And here's a comforting thought: no matter what's happening with the economy, there's always a demand for accountants. So, you're choosing a career that's always in demand. Isn't that great?
Ankur Dudani
Auditor
2
Answers
Delhi, DL
Updated
Ankur’s Answer
The difficulty of being an accountant depends on personal skills, the workplace, and the job's specific tasks. It demands careful attention to detail, the ability to analyze, and understanding intricate financial data. Some parts of the job can be tough, but many people find it gratifying and satisfying.
Regarding pay, an accountant's salary varies based on elements like location, education, experience, industry, and their exact role in accounting. However, on average, accountants earn a decent income. For instance, in the United States, the median yearly wage for accountants and auditors was about $73,560 in 2020, as per the U.S. Bureau of Labor Statistics.
Remember, salaries can differ greatly due to factors like the geographical area (cities usually pay more), the employer's size and reputation, extra qualifications (like Certified Public Accountant or CPA), and work experience. In conclusion, accounting can offer a steady and fulfilling career for those who are interested in finance and numbers.
Regarding pay, an accountant's salary varies based on elements like location, education, experience, industry, and their exact role in accounting. However, on average, accountants earn a decent income. For instance, in the United States, the median yearly wage for accountants and auditors was about $73,560 in 2020, as per the U.S. Bureau of Labor Statistics.
Remember, salaries can differ greatly due to factors like the geographical area (cities usually pay more), the employer's size and reputation, extra qualifications (like Certified Public Accountant or CPA), and work experience. In conclusion, accounting can offer a steady and fulfilling career for those who are interested in finance and numbers.
Katrina Maranan
Tax Accountant
3
Answers
Cherry Hill, New Jersey
Updated
Katrina’s Answer
Hi Azenet!
Like any job, accounting is as difficult as you make it. There are so many fields of accounting you can get into! It's not just public accounting, there's private industries, there's audit, tax, consulting, and a variety of other jobs you can get in accounting. As Xiaojie mentioned, it is a very stable career and there's opportunities everywhere. If you work in public accounting, the salaries are relatively higher than if you worked for private industries, and the opportunities to grow are endless. I highly recommend this career!
Like any job, accounting is as difficult as you make it. There are so many fields of accounting you can get into! It's not just public accounting, there's private industries, there's audit, tax, consulting, and a variety of other jobs you can get in accounting. As Xiaojie mentioned, it is a very stable career and there's opportunities everywhere. If you work in public accounting, the salaries are relatively higher than if you worked for private industries, and the opportunities to grow are endless. I highly recommend this career!
M Sharjeel Ashraf (ACA)
Auditor
2
Answers
Toronto, Ontario, Canada
Updated
M Sharjeel’s Answer
Hi Azenet,
I agree with Johan, the salaries would depend on the firm, the position and the level but also city/state/province you're based in. You can always check Glassdoor that can tell you more about the salary ranges.
Like any career, you start at an entry level pay. When I started my training contract with, I didn't have to pay for any of the educational material, lectures, exam leaves etc.. So you might want to consider that too.
I enjoy the challenges in the role, it's something I liked in college. As a career it's very stable and there's so many different things you could branch into! I didn't even know that my current role existed when I started my career. Attention to detail, time management and prioritising tasks are some of the skills that help a lot! Teamwork and collaboration is another huge one as we're always working with a number of different teams/individuals.
Lastly, don't be afraid to ask questions or make mistakes!
Hope that helps. Happy to engage further.
All the best,
Sharjeel.
I agree with Johan, the salaries would depend on the firm, the position and the level but also city/state/province you're based in. You can always check Glassdoor that can tell you more about the salary ranges.
Like any career, you start at an entry level pay. When I started my training contract with, I didn't have to pay for any of the educational material, lectures, exam leaves etc.. So you might want to consider that too.
I enjoy the challenges in the role, it's something I liked in college. As a career it's very stable and there's so many different things you could branch into! I didn't even know that my current role existed when I started my career. Attention to detail, time management and prioritising tasks are some of the skills that help a lot! Teamwork and collaboration is another huge one as we're always working with a number of different teams/individuals.
Lastly, don't be afraid to ask questions or make mistakes!
Hope that helps. Happy to engage further.
All the best,
Sharjeel.
Mayank Sharma
Internal Auditor
10
Answers
New Delhi, Delhi, India
Updated
Mayank’s Answer
Embarking on the journey to become an accountant can be a tough task, as it necessitates substantial education, typically a bachelor's degree in accounting or a similar field. Additionally, you'll need to clear industry-specific examinations like the Certified Public Accountant (CPA) exam in the U.S., or the Chartered Accountant (CA) exam in other parts of the world. These tests are reputed to be quite demanding. Moreover, accountants must possess a robust knowledge of intricate financial principles, laws, and procedures, alongside potent analytical, communication, and computer abilities. However, with unwavering commitment and diligent effort, numerous individuals successfully become accountants and find the profession gratifying.
To get an idea of the latest salaries for accountants, you can refer to the data provided by the U.S. Bureau of Labor Statistics. However, these figures can fluctuate significantly based on elements like the amount of experience, the scale and nature of the company, and the geographical location. For instance, accountants employed in urban areas or by large corporations frequently earn higher salaries.
To get an idea of the latest salaries for accountants, you can refer to the data provided by the U.S. Bureau of Labor Statistics. However, these figures can fluctuate significantly based on elements like the amount of experience, the scale and nature of the company, and the geographical location. For instance, accountants employed in urban areas or by large corporations frequently earn higher salaries.
Alireza Poostindooz
financial consultant
41
Answers
Isfahan, Isfahan Province, Iran
Updated
Alireza’s Answer
Whether being an accountant is difficult depends on your individual perspective and what you find challenging. Here's a breakdown of the potential difficulties and rewards:
**Challenges:**
* **Academic Rigor:** Accounting degrees involve coursework in subjects like accounting principles, tax law, auditing, and finance, which can be demanding and require strong analytical and problem-solving skills.
* **Detail-Oriented Work:** Accountants need to be meticulous and pay close attention to detail, as even small errors can have significant consequences.
* **Meeting Deadlines:** Tax seasons and audit periods can be particularly busy, requiring accountants to work long hours and meet tight deadlines.
* **Staying Up-to-Date:** Accounting standards and regulations change frequently, so continuous learning is essential.
**Rewards:**
* **Job Security:** The demand for qualified accountants is expected to grow in the coming years, offering job security and stability.
* **Good Earning Potential:** Experienced accountants can earn competitive salaries, with median pay in the US exceeding $78,000 per year (as of 2022).
* **Diverse Career Paths:** With various specializations like auditing, tax, forensic accounting, and more, accountants can find career paths that align with their interests and skills.
* **Intellectual Stimulation:** Accounting involves solving complex problems and puzzles, which can be intellectually stimulating for those who enjoy such challenges.
**So, is studying accounting worth the time?**
It depends on your individual goals and priorities. If you're looking for a stable career with good earning potential and intellectual challenges, then accounting could be a worthwhile pursuit. However, if you dislike detail-oriented work, find academic challenges overwhelming, or prioritize flexibility over structured work environments, other career paths might be a better fit.
Here are some additional factors to consider:
* **Your personality and interests:** Are you analytical, detail-oriented, and organized? Do you enjoy problem-solving and working with numbers?
* **Your career goals:** What are your long-term career aspirations? What kind of lifestyle do you envision for yourself?
* **The job market in your area:** Research the job market for accountants in your desired location to understand the demand and potential salary range.
Ultimately, the decision of whether to study accounting is personal. By carefully considering the challenges, rewards, and your own unique preferences, you can make an informed decision about your future career path.
**Challenges:**
* **Academic Rigor:** Accounting degrees involve coursework in subjects like accounting principles, tax law, auditing, and finance, which can be demanding and require strong analytical and problem-solving skills.
* **Detail-Oriented Work:** Accountants need to be meticulous and pay close attention to detail, as even small errors can have significant consequences.
* **Meeting Deadlines:** Tax seasons and audit periods can be particularly busy, requiring accountants to work long hours and meet tight deadlines.
* **Staying Up-to-Date:** Accounting standards and regulations change frequently, so continuous learning is essential.
**Rewards:**
* **Job Security:** The demand for qualified accountants is expected to grow in the coming years, offering job security and stability.
* **Good Earning Potential:** Experienced accountants can earn competitive salaries, with median pay in the US exceeding $78,000 per year (as of 2022).
* **Diverse Career Paths:** With various specializations like auditing, tax, forensic accounting, and more, accountants can find career paths that align with their interests and skills.
* **Intellectual Stimulation:** Accounting involves solving complex problems and puzzles, which can be intellectually stimulating for those who enjoy such challenges.
**So, is studying accounting worth the time?**
It depends on your individual goals and priorities. If you're looking for a stable career with good earning potential and intellectual challenges, then accounting could be a worthwhile pursuit. However, if you dislike detail-oriented work, find academic challenges overwhelming, or prioritize flexibility over structured work environments, other career paths might be a better fit.
Here are some additional factors to consider:
* **Your personality and interests:** Are you analytical, detail-oriented, and organized? Do you enjoy problem-solving and working with numbers?
* **Your career goals:** What are your long-term career aspirations? What kind of lifestyle do you envision for yourself?
* **The job market in your area:** Research the job market for accountants in your desired location to understand the demand and potential salary range.
Ultimately, the decision of whether to study accounting is personal. By carefully considering the challenges, rewards, and your own unique preferences, you can make an informed decision about your future career path.
Trevor Dawson
Consulting
99
Answers
Dallas, Texas
Updated
Trevor’s Answer
Not an accountant, but found a useful article: https://accountingprofessor.org/is-accounting-hard-heres-the-real-truth-about-accounting/#:~:text=Accounting%20can%20be%20seen%20as,complexity%20of%20the%20subject%20matter.
Alexis Eastman, CPA
Customer Success
4
Answers
New York, New York
Updated
Alexis’s Answer
Hi Azenet!
As you can see above, the salary ranges of an accountant can be so different and vary based on the type of accounting, company, and often your geographic location.
However - Just imagine the vast possibilities that come with an accounting degree - it's truly amazing! I'd strongly recommend you to consider a program that pairs your accounting degree with a Masters degree, like an MBA or Masters of Accounting. This combination not only broadens your knowledge but also equips you with enough credits to consider taking your CPA exam. With an accounting degree, a Masters, and a CPA under your belt, the sky's the limit!
The world of accounting is diverse, offering you a chance to venture into public accounting, private accounting, or even a general business role. My own journey began in public accounting, specifically in Audit. After gaining some experience, I explored private accounting. This path eventually led me to a stakeholder management role, and ultimately, back to a financial operations role. My career has led me to various roles both closely and loosely related to accounting. But one thing's for sure - the knowledge and experience I've gained from my accounting background has been priceless in shaping my career!
I hope this gives you a clearer picture. Remember, every step you take brings you closer to your goal. Best of luck on your journey!
As you can see above, the salary ranges of an accountant can be so different and vary based on the type of accounting, company, and often your geographic location.
However - Just imagine the vast possibilities that come with an accounting degree - it's truly amazing! I'd strongly recommend you to consider a program that pairs your accounting degree with a Masters degree, like an MBA or Masters of Accounting. This combination not only broadens your knowledge but also equips you with enough credits to consider taking your CPA exam. With an accounting degree, a Masters, and a CPA under your belt, the sky's the limit!
The world of accounting is diverse, offering you a chance to venture into public accounting, private accounting, or even a general business role. My own journey began in public accounting, specifically in Audit. After gaining some experience, I explored private accounting. This path eventually led me to a stakeholder management role, and ultimately, back to a financial operations role. My career has led me to various roles both closely and loosely related to accounting. But one thing's for sure - the knowledge and experience I've gained from my accounting background has been priceless in shaping my career!
I hope this gives you a clearer picture. Remember, every step you take brings you closer to your goal. Best of luck on your journey!
Jasmine Jackson
Senior Audit Assistant
8
Answers
Philadelphia, Pennsylvania
Updated
Jasmine’s Answer
Hello Azenet,
I'm thrilled to see your question! A smart cookie once shared this gem with me, "As long as businesses and taxes exist, accountants will always be in demand." Diving into accounting studies is key to grasping where your earnings originate and how to categorize them appropriately. So, to put it simply, YES, it's absolutely a worthwhile investment.
When it comes to salaries, they usually hinge on a few factors like experience and specialization in a certain sector (for instance, retail, real estate, power & utilities, and so on). A rough estimate would place you somewhere between $55,000 and $90,000, which is a pretty decent range.
I hope this sheds some light on your query. :)
I'm thrilled to see your question! A smart cookie once shared this gem with me, "As long as businesses and taxes exist, accountants will always be in demand." Diving into accounting studies is key to grasping where your earnings originate and how to categorize them appropriately. So, to put it simply, YES, it's absolutely a worthwhile investment.
When it comes to salaries, they usually hinge on a few factors like experience and specialization in a certain sector (for instance, retail, real estate, power & utilities, and so on). A rough estimate would place you somewhere between $55,000 and $90,000, which is a pretty decent range.
I hope this sheds some light on your query. :)