Associate Accountant Salary
An average Associate Accountant in the United States can expect to take home roughly $47K annually. Location is the biggest factor affecting pay for this group, followed by years of experience. Most workers in this position report moderate levels of job satisfaction. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Women Associate Accountants who took the survey just slightly outnumber men. The figures in this overview were provided by individuals who took 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
- Analyze financial data in order to prepare financial reports.
- Generate and interpret financial records and statements for management.
- Maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
- Maintain general ledger as needed.
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. With an annual salary of $60K, Senior Accountant is the most common role for Associate Accountants to subsequently assume on their way up the ladder. Transitioning into a Staff Accountant role — which usually pays $44K — is also typical for Associate Accountants, though less common by comparison.
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Popular Skills for Associate Accountant
Associate Accountants report using a pretty varied skill set on the job. Most notably, skills in Financial Reporting, General Ledger Accounting, Tax Preparation, and Financial Analysis are correlated to pay that is above average. At the other end of the pay range are skills like Accounting and Auditing. Most people who know 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.
Those who have worked for fewer than five years take home a median salary of $46K, and workers with five to 10 years of experience report earning less ($45K) on average. After working for 10 to 20 years, Associate Accountants make a median salary of $49K. More than 20 years of experience seem related to solid financial gains; veterans in this group report earning a median of $51K.
Pay Difference by Location
Associate Accountants will find that Albany offers an impressive pay rate, one which exceeds the national average by 48 percent. Associate Accountants can also look forward to large paychecks in cities like Los Angeles (+25 percent), New York (+25 percent), Boston (+20 percent), and Houston (+16 percent). Those in the field find the lowest salaries in Milwaukee, 1 percent below the national average.
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Key Stats for Associate Accountant
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