Even privately held companies have begun following the Sarbanes-Oxley system, or at least those that have a grand vision of someday going public or seeking funding are. That�s meant more technical work and more checklists for accountants working in corporate settings.

DeLynn Senna, executive director of Robert Half Finance & Accounting, Menlo Park, California, says the typical salary for senior general accountants ranges between $41,500 and $65,000, depending on the size of the company. �Industry-recognized certifications, especially the certified public accountant designation, greatly enhance a professional�s marketability. Our research has found that individuals possessing a CPA can earn up to an additional 10% in starting salary,� she says.

Florence Wong-Lum, manager of compensation at Salary.com, puts the median salary for an accountant with four to six years� experience at $57,000, plus an incentive bonus of 3%-4%. The next most experienced accountants, those with six or more years� work history, have a median salary of $69,000 with the same 3%-4% incentive, she says.

Location Matters

In high-cost areas, such as San Francisco, New York and Washington, D.C., certified public accountants (CPA) with five years� experience are getting $80,000 to $85,000, with non-CPAs bringing home 10%-20% less, Hill says.

Wong-Lum�s figures are lower. �In New York City, an accountant [with four to six years� experience] would make a median of $67,000, but the bonus really depends upon whether the company has performance incentives,� she reports. Those with six years� experience plus make a median $80,000 with a 5% incentive bonus.

If you�ve got an accounting skill set that can be backed up and reasonable salary expectations, but can�t find work in the Big Apple, you�re either having a bad day or you don�t have the kind of positive, open, can-do attitude that today�s employers want to see. �At any given time there are 40 to 50 openings in my downtown New York City location,� Hill at Hudson says.

And the Southeast is on fire, he adds. �In the South, salaries have had to catch up and the cost of living is lower. There�s also reverse migration chasing consulting jobs.� A consultant who flies out every week anyway can live in a lower-cost southeastern city and still pull down the big bucks if he or she is willing to travel out on Mondays and back home on Fridays.

Trend Set to Continue

Sometimes, the salary you earn is influenced by simply being in the right job at the right time, like having finished your accounting degree in the 20th century.

�Due in part to low enrollment in university accounting programs in the late 1990s, many companies are experiencing a shortage of candidates for senior accountant positions,� says Senna.

�Competition for these professionals is very strong and many individuals are receiving multiple offers,' she says. As a result, employers have had to develop strong recruiting processes, including working with recruiting firms. Companies also are offering higher salaries and better benefits in an effort to attract and retain these professionals.�

Reader Comment

I keep hearing the best way to get a position like this is to accept the fact that CPAs rule, yet was it not the CPAs that gave us the recent scandals that bankrupted large corporations and helped corporations spend over $18 billion in capturing their internal controls (which they should have had already)? I mean really if the CPA group had the BACKBONE would the scandals really happen or would we have Sarbanes-Oxley put upon us? I am an accountant who can do the technical side and communicate the results to management. I have been published 19 times now in various newsletters, trade publications and via the Internet through various websites. I do not hold the CPA nor do I really want to obtain it although it is getting to the point where every accountant will have to be a CPA just to work in their trade. Ask any common place CPA where their published work is, I doubt you will find it.

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It's refreshing to read about pay hikes and the lack of supply for the accounting profession but my concern is getting the opportunity for the experience. I am currently in my fourth year of studying public accounting, my overall goal is to become a Certified Public Accountant, preferably in the auditing sector. This viewed by many does not equal experience; excellence, however, takes a toll on individuals who do not have GPA's of 3.0 or higher which the top 10 accounting firms require to be considered for positions whether in internships or working towards your two years of experience (CPA exam). I have learned that the practice is much easier then the theory. Instead of looking for individuals with that level of experience, companies, corporations or small businesses should look for recent college grads or anyone willing to learn. Besides, two to three individuals is better then one at any price.

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I thought this article was wonderful. I am in the employment search right now, in the Chicago-land area and I am seeing this 'short supply'. I think this is a good opportunity to find the right fit. To the reader that debunked the CPA profession. Because of those scandals, many people did not want to be a CPA or even attend college with a major in accounting. I believe that the SOX act and other 'tightening' of public companies have created many more opportunities for the accountant and CPA.

Kymberly A. Buchanan, CPA

Crete, IL
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I am experienced accountant, (15 years) with my CPA license and earn $16.60 an hour. I guess this means I am underpaid and this article gives me hope in finding another position. The job market here in Cleveland is always slower, but hopefully this trend will start to occur here, as well.

K Pfister, CPA
Cleveland, OH

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I have to say that I�m employed at CPA firm in the high cost areas and your stats and forecast are very accurate. I actually only have 2yrs experience.

Winston Anthony Williams III
Valuation Associate

Reznick Group, P.C.
7700 Old Georgetown Road
Suite 400
Bethesda, MD 20814-6224