How Much Does a Finance Accountant Make per Year?
Overview of becoming a Finance Accountant
The accounting industry is extremely diverse. Within the field, there are many career options offered. One option is a career as a financial accountant. Financial accountants are responsible for all financial statements and records within a company. They are responsible for recording a business’s financial performance and progress. Finance accountants prepare a variety of financial statements, such as balance sheets, income statements, and cash flow statements. Finance accountants also have the option to choose to work in either public or private accounting, along with having the option to specialize in a certain area of accounting.
Financial accountants often chose to work in one of the following fields:
● Governmental accounting
● Forensic accounting
● Other specific fields
Typically, finance accountants either have a Bachelor’s or Master’s degree in accounting or another related field. Many online colleges are beginning to offer multiple programs in the field of finance accounting. The online courses are an affordable way to achieve your degree, while also having enough flexibility to gain experience or maintain a job.
Often, finance accountants will also have a specialized license, such as Certified Public Accountant (CPA) certification. If you want to work within a specific field, you will have to pursue specific licensing. In general, once you achieve the appropriate education, experience, and licensing, you will have many opportunities for career and salary advancement.
Expected Salary for a Finance Accountant
The expected salary for finance accountants is $ 62,850 per year. The maximum average salary per year for accountants is $ 83,210, with the minimum average salary being $ 48,920.
Cities with the Highest Salaries for Finance Accountants
The expected salary for finance accountants depends on where you live. The following cities have the highest average salaries for finance accountants:
● New York City, NY: The annual median wage for finance accountants in New York City, NY is $ 89,720, which is $ 26,870 higher than the national average.
● Newark, NJ: The annual median wage for finance accountants in Newark, NJ is $ 87,120, which is $ 24,270 higher than the national average.
● Nassau, NY: The annual median wage for finance accountants in Nassau, NY is $ 86,670, which is $ 23,820 higher than the national average.
● San Francisco, CA: The annual median wage for finance accountants in San Francisco, CA is $ 86,230, which is $ 23,380 higher than the national average.
● San Jose, CA: The annual median wage for finance accountants in San Jose, CA is $ 85,600, which is $ 22,750 higher than the national average.
Overall, how much a finance accountant makes per year depends on your level of education, years of experience, and the city you live in.