Accounting is one of the most important aspects of business as a whole. Without accounting, professional budgeting would be confusing and likely impossible to manage. Accounting professionals are found all across the country working for a wide variety of professional organizations, each with their own unique contribution to the betterment of business finance. There are many different departments and aspects of accounting that may be unknown to some. Listed below are some of the top paying careers for individuals interested in the field of accounting.
Bookkeeper Salary: $37,250*
Companies entrust bookkeepers to be the lead handlers of all financial transactions. Using credit and debit transactions, bookkeepers manage general ledgers for the company in which they work. In order to remain consistent in spending and keep track of important financial records, bookkeepers must be integrated into an efficient business team. Bookkeepers are typically found in smaller businesses. This career is vital to everyday business practice and provides an average salary of $37,250 per year (BLS, 2015).
Accounting Clerk Salary: $22,940 to $57,920*
Just as bookkeepers do, accounting clerks manage daily inflow and outflow of funds of a business. As an accounting clerk, professionals will be the leading source of information for spending reports, income statements, and tax records. Accounting clerks are more commonly found in medium to large organizations and work together with other clerks to maintain billing accounts, payroll, and payable/receivable accounts. The BLS reports the average income of an accounting clerk anywhere from $22,940 to $57,920. Factors such as area and company size have a large bearing on the salary of respective employees.
Degrees to Consider for an Accounting Clerk Career:
Forensic Accountant Salary: $67,190*
Forensic accounting involves not only typical accounting responsibilities, but also the investigation of accounting documents and forms when requested from a party. Forensic accountants can be used in a variety of settings. Most often, forensic accountants assist legal service providers in the investigation of financial documents for a variety of causes. Forensic accounts may also assist in the analysis of financial reports and provide reports or exhibits of their findings to the requesting party. The Bureau of Labor Statistics estimates that forensic accountants earn $67,190 per year on average while working throughout the United States.
Degrees to Consider for a Forensic Accountant Career:
Budget Analyst Salary: $71,590*
Budget analysts contribute more than just record keeping for the organizations in which they work. These professionals provide valuable opinions to companies, contributing to more effective spending. Rather than just monitoring the ins and outs of funds within a business, budget analysts play a large role in the planning and implementation of budget reduction and improvement plans. Individuals that are interested in accounting and can also play a proactive role in problem solving and profit-building are a great fit for this field. The median salary for this branch of accounting is $71,590 per year (BLS, 2015).
Degrees to Consider for a Budget Analyst Career:
Risk Analyst Salary: $78,010*
There is more to financial processes than simply accounting. In order to provide the best service to consumers, businesses must provide services that are reliable and trustworthy. It is the job of the risk analyst to determine whether investment portfolios are solid and can provide profits in the future. These analysts are a very important part of business transactions throughout the country. On average, risk analysts can earn $78,010 per year, according to the BLS.
Financial Analyst Salary: $80,310*
Financial analysts provide knowledgeable insight to banks, companies, and nonprofit organizations regarding their financial investments. In order to make the most from investment portfolios, it is vital that all aspects of the company are scrutinized and monitored for changes. As a senior financial analyst, individuals will work with companies and other analyst in order to determine if changes in investments need to be made in order to make a profit. The Bureau of Labor Statistics estimates that senior financial analysts make $80,310 per year on average in the United States.
Degrees to Consider for a Financial Analyst Career:
Financial Adviser Salary: $89,160*
On a much smaller level, personal financial advisers assist individuals with financial planning and investment activities. Personal financial advisers work one-on-one with clients to ensure that they are making smart and profitable investments for their future. Some advisers undertake a large number of potential clients while others find it profitable to maintain a small number of clients at a time. The mean salary for this branch of accounting is $89,160 per year (BLS, 2015).
Accounting Professor Salary: $92,220*
At the post-secondary level, accounting professors go well beyond the call of duty to spread their knowledge of accounting to others within their field. These professionals know all of the accounting basics and provide students of accounting with a reliable resource of information. Accounting professors are a major part of the collegiate experience in accounting. Throughout the United States, accounting professors are found in colleges and universities both large and small. According to the BLS, the professionals can earn $92,220 per year on average depending on the area and size of the university in which they work.
Accounting IT Salary: $100,690*
Technology has changed the way that accountants complete their daily duties. The new technologies in the field can be credited to the accounting software developers that worked hard to create helpful and seamless programs to assist with accounting. These software developers use their knowledge of accounting as well as computer science to create programs that make accounting much more convenient for individuals. These developers have the potential to earn $100,690 per year creating these helpful programs (BLS, 2015).
Degrees to Consider for an Accounting Software Developer Career:
Financial Manager Salary: $117,990*
At the top of the financial tier, financial managers are responsible for ensuring that everything in the financial department works smoothly. From monitoring the work of financial analysts and accountants to strategizing new concepts that can increase financial success, these managers provide assistance to companies that is irreplaceable by other means. Financial managers are the face of finance for companies and provide insight into the best financial practices. While working as a financial manager, individuals have the potential to earn $117,990 per year, according to the Bureau of Labor Statistics.