Associate Accountant Salary
The average Associate Accountant in the United States can expect to rake in roughly $47K annually. Geography is the biggest factor affecting pay for this group, followed by years of experience. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 56 percent. Among folks in this role, job satisfaction levels approximately match the national average. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
Job Description for Associate Accountant
An associate accountant is primarily responsible for managing the accounts payable processes of the company, including payments on vendor invoices, audits and requests for funds from other departments of the company, and recordkeeping pertaining to accounts; these records can include reconciliation of accounts, journal entries, receipts, and lockbox logs. Additionally, associate accountants review reports from other employees to ensure that they are accurate and complete. Associate accountants generally work full time in an office environment and are not required to travel. Associate accountants often report directly to a general accountant, and they may be required to perform additional tasks as requested by the general accountant or other managers.Read More...
Applicants for associate accountant positions must have a minimum of a bachelor's degree in accounting, finance, or a related field, and they must have at least two years of relevant experience. They must be proficient in basic computer programs such as the Microsoft Office suite. Knowledge of Lawson Financials and expense management systems is generally preferred, but not required. Associate accountants are expected to work as part of a team, and strong written and verbal communication skills are required. The ability to take orders from management and complete them with minimal supervision is also required. Applicants must be self-motivated, accurate, and attentive to details, with the ability to work on several projects simultaneously.
Associate Accountant Tasks
- Maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
- Maintain general ledger as needed.
- Analyze financial data in order to prepare financial reports.
- Generate and interpret financial records and statements for management.
Common Career Paths for Associate Accountant
Associate Accountants who transition into a Senior Financial Analyst role may receive large pay increases as the latter position pays an average $76K per year. Going from Associate Accountant to Senior Accountant is the transition that occurs most often in this field, where the paychecks are $60K. Many others choose to work as Staff Accountants, where pay is typically $44K.
Assistant Accountant Job Listings
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Popular Skills for Associate Accountant
Survey results show that Associate Accountants use a fair number of skills. Most notably, skills in Financial Reporting, General Ledger Accounting, Tax Preparation, and Financial Analysis are correlated to pay that is above average. Most people experienced in Accounts Payable also know Accounts Receivable.
Pay by Experience Level for Associate Accountant
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Folks with fewer than five years of experience take home $46K on average. Interestingly, those who have worked for five to 10 years report receiving a smaller median salary of $45K. Associate Accountants claiming one to two decades of experience make an estimated median of $50K. Individuals who report more than two decades of experience seem to make about the same as folks in the 10-to-20 year range.