An accounting finance career has relevance in every field and sector. While an accounting job is stimulating and challenging, the work is constantly evolving. Because accountants spend most of their time looking at the details of businesses, they have the opportunity to learn the nuts and bolts of the business.
Accounting Finance Career: Places of Work
If you are opting for an accounting finance career, you could choose to work in any of the following workplaces:
- Government: Accountants working in a government organization may work at the local, state or federal level. They might prepare budgets, track costs and analyze programs. While this work could help you contribute to the public worth, it is subject to bureaucratic obstruction if it goes against political interests. If you choose to work in a government organization, you could advance to the position of a controller and higher administrative positions. Government offices hiring extensively at the federal level include the Internal Revenue Service (IRS), the Department of Defense (DoD) and the General Accounting Office.
- Corporations: All corporations usually have an accounting team that prepares financial statements, handles tax issues, tracks costs and works on international transactions. If you choose to work in a corporation, you could work as an audit manager, a tax manager, a cost accounting manager and a controller on the accounting side. You could also opt to go into the finance side and become a manager of financial planning and analysis or a Treasurer.
- Public accounting firms: You could decide to work in partnership with other public accountants. These public accounting firms cater to individuals, businesses and governments. In this field, the potential career path could be audit manager, tax manager and partner.
- Independently: If you decide to become a CPA and work independently, you would need to generate your own business. However, the benefits of this option are that you are in close customer contact, have substantial independence in terms of work style and earn high financial rewards, based on your expertise. This work can be risky, but puts you in the midst of community affairs.
Salaries in Accounting Finance Career
Accounting salaries are usually at the lowest level in the government firm, while the private sector fairs slightly better. The biggest pay packet can be received in the top accounting firms. The salary trends are generally on a higher side in major cities.
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Big 4 Firm
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Average
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Experience Required
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Entry Level
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$55,000
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$50,000-$70,000
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First year
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Junior Staff Accountant
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$46,000-$63,000
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$40,000-$80,000
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1 to 2 years
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Senior Staff Accountant
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$65,000-$95,000
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$70,000
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3 to 5 years
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Manager
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$65,000-$140,000
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$85,000
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5 to 7 years
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Senior Manager
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$72,000-$160,000
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$115,000
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More than 7 years
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Partner
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$200,000-$3,000,000
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$150,000
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Over 10 years
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