Accounting analyst salary is between $44,000 and $87,000 on average for professionals in the United States. The exact amount depends on a few factors such as experience, location, skills, etc.
In this article, we would be going in-depth on everything you need to know about an accounting analyst’s salary and the factors that influence these salaries.
Without any further delay, let’s get to it:
The average salary for an accounting analyst is $60,458 per annum. Below are some of the factors that influence an accounting analyst’s salary.
1. Years of Experience
Salaries for most fields and not just accounting analysts are tied to the level of experience gotten by these professionals. The more years you spend working as an accounting analyst, the more you can expect to earn.
According to the Bureau of Labor Statistics and the National Compensation Survey, below are some of the job salaries based on experience.
|Level of Experience||Salary|
|less than 1 year||$37,000|
|1 to 4 years||$45,000|
|5 to 9 years||$57,000|
|10 to 19 years||$72,000|
Some websites may showcase a slightly different salary range which is based on the sit’s calculated average.
Where you live can influence your salary and also where the company or industry is located can affect how much you would be paid as an accounting analyst. Working in a large metropolitan area assumes a higher salary as well as a higher cost of living.
According to the Bureau of Labour Statistics, below are some of the salary ranges for accounting analysts based on cities and in no particular order.
|New York City, NY||$78,000|
|San Francisco, CA||$74,000|
|Salt Lake City, UT||$52,000|
|New Orleans, LA||$51,000|
|Las Vegas, NV||$51,000|
According to the statistics above, New York City pays the highest in terms of salary ranges for accounting analysts.
In the next section, we would be comparing the salary ranges of an accounting analyst with other finance jobs and see if being an accounting analyst favors above all other fields.
Related Fields Salaries
Below shows how the accounting analyst job measures up to other related field jobs:
|Account Payable Specialist||$41,000|
These are the two major factors that can influence your salary as an accounting analyst. What if there was a way you could increase your salary range all the while living in the same location.
There are ways in which you can increase your accounting analyst salary, and we are going to be discussing how in the next section.
How to Increase your Accounting Analyst Salary?
Now that you have a better idea of what you could expect to earn as an accounting analyst, let’s dive into what you need to do to boost your salary.
- Strengthen your skills
As an accounting analyst, strengthening your skill is an essential factor in order to boosting your salary. Pursue high-demand skills that could make a high impact on your job requirement and role.
These skills include; Financial analysis, budgeting, accounting forecasting, and tax preparation.
Learning more in the areas such as listed above could boost your salary as an accounting analyst.
- Make Adequate Enquiries
Making adequate inquiries can come from talking to recruiters about a particular job posting before applying. Talking to recruiters can give you a sense of what the going rate is for your position. It helps your negotiation skills during an interview.
Such recruiters may also be able to put a good word for you to potential employers and industries.
- Taking on more responsibilities
One way to increase your salary is to take on more responsibilities at work. You could take on more projects, or maybe a leadership role. If you can prove to your current employer that you are able to take on more responsibilities, it would definitely increase your salary.
This can also pave way for higher positions outside your current workspace. It could position you as someone who can be an asset to any company he/she works in.
Bottom line is, that you can either choose to ask for a raise or seek out a higher position in another company.