Accounting Associate Salary
Job Description for Accounting Associate
Accounting associates are responsible for providing assistance to top-level accountants within a company, as well auditors and other finance employees. This position also requires bookkeeping and other accounting duties.Read More...
Accounting associates may have a number of bookkeeping tasks, such as data entry, preparing accounting reports, and reconciling accounts. They typically work during regular business hours and must be able to work well with others, especially clients. In-depth knowledge of accounting, typically gained through education, is also necessary.
A bachelor's degree is generally required for this position, and some employers require a master's degree as well as relevant certifications. This job is done mostly indoors, but may include some travel from business to business to verify data. This work is usually performed independently. Accounting associates must have a great deal of education and commitment for this position, and there is room for advancement within a company.
Accounting Associate Tasks
- Process, record, and pay invoices, bills, and other transactions.
- Record fiscal transactions, balancing and reconciling accounts.
- Assist accountants and auditors with bookkeeping, clerical duties, and managing accounts.
- Resolve outstanding payments through communication with departments, vendors, and clients.
Common Career Paths for Accounting Associate
Accounting Associates' salaries may rise greatly for those who assume a higher-end position such as an Accounting Manager. The average Accounting Manager brings home $61K per year. Career advancement for the typical Accounting Associate often leads to becoming a Staff Accountant or an Accountant; median salaries in these positions are $4K higher and $4K higher, respectively.
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Popular Employer Salaries for Accounting Associate
Wal-Mart Stores, Inc offers the lowest pay in the industry by far, with a median salary less than half of the top paying company's rate ($25K).
Popular Skills for Accounting Associate
Accounting Associates seem to wield many skills on the job. Most notably, skills in Accounting, Financial Analysis, Auditing, and Financial Reporting are correlated to pay that is above average, with boosts between 9 percent and 15 percent. Those proficient in Accounts Payable are, more often than not, also skilled in Microsoft Excel.
Pay by Experience Level for Accounting Associate
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Accounting Associates with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Folks with fewer than five years of experience take home $40K on average, and those who have worked for five to 10 years see a bigger median salary of $40K. People with 10 to 20 years of experience make an average of about $41K in this role. Old hands boasting more than twenty years of relevant experience report pay that is more or less commensurate with that extensive experience; average earnings for this group come out to approximately $42K.
Pay Difference by Location
Boston offers some of the highest pay in the country for Accounting Associates, 28 percent above the national average. Accounting Associates can also look forward to large paychecks in cities like New York (+28 percent), Chicago (+25 percent), San Francisco (+24 percent), and Denver (+18 percent). Trailing the national average by 9 percent, Indianapolis is the market with the smallest paychecks. A couple other locations with smaller-than-average paychecks include Tampa (6 percent lower) and Austin (5 percent lower).