Financial Accountant Salary

The East Coast offers the largest salaries to Financial Accountants; the three top-paying cities in the field are New York, Boston, and Philadelphia. Cash earnings for Financial Accountants — which occasionally include more than $7K from bonuses and more than $12K from profit sharing — stretch from around $36K to approximately $72K. Residence is the biggest factor affecting pay for this group, followed by tenure. For the most part, Financial Accountants enjoy their work and report high levels of job satisfaction. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to slightly more than half. Men are in the minority of survey respondents, with female Financial Accountants making up 71 percent. The numbers in this rundown were provided by PayScale's salary survey participants.
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$38,623 - $70,040
(Median)
$39K
$51K
$70K
MEDIAN: $51,373
10%
50%
90%

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$13.44 - $28.10
(Median)
$13
$19
$28
MEDIAN: $19.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$24K$48K$72K
Salary
$38,623 - $70,040  
   
Bonus
$0.00 - $7,059  
Profit Sharing
$0.40 - $12,000  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$35,629 - $71,731  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 729
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$13$26$39
Hourly Rate
$13.44 - $28.10  
   
Overtime
$17.98 - $38.51  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$26K$52K$78K
Bonus
$0.00 - $7,059  
   
Profit Sharing
$0.40 - $12,000  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$35,629 - $71,731  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 160
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Job Description for Financial Accountant

Financial accountability is pivotal to maintaining a healthy business, and financial accountants conduct a number of functions to ensure this is possible. They manage payroll, taxes, income, spending, and educating their employer on financial information. Work days for financial accountants can be a bit longer than a standard 9-to-5 job, because of strict deadlines on all projects that financial accountants are given. Generally, financial accountants do not need to work directly with employees; if they discover discrepancies with posted reports, they inform management.

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Financial Accountant Tasks

  • Utilize accounting principles to ensure compliance with regulatory reporting requirements.
  • Summarize and prepare financial records and statements for external reporting.
  • Maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.

Common Career Paths for Financial Accountant


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It's not very common for Financial Accountants to move on to become Chief Financial Officers. Average pay for a Chief Financial Officer is $122K annually. The most common next step for a Financial Accountant is to become a Senior Accountant or a Financial Controller. The former position pays an additional $8K per year on average, and the latter position pays $26K more per year.

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Popular Skills for Financial Accountant


Financial Accountants seem to wield many skills on the job. Most notably, skills in Payroll Administration, Accounting, General Ledger Accounting, and Budget Management are correlated to pay that is above average, with boosts between 6 percent and 11 percent. Skills that are correlated to lower pay, on the other hand, include Accounts Receivable, Accounts Payable, and Microsoft Office. Those educated in Financial Analysis tend to be well versed in Month-End Close.

Pay by Experience Level for Financial Accountant

Median of all compensation (including tips, bonus, and overtime) by years of experience.


The average worker who claims fewer than five years of experience earns around $49K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $55K. For Financial Accountants, 10 to 20 years of experience on the job amounts to an average salary of $54K. Financial Accountants who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $53K.

Pay Difference by Location


Relative to Financial Accountants in the rest of the country, Financial Accountants to the east in New York, Boston, and Philadelphia see salaries beyond the national average. Columbus is home to the smallest salaries in the field, lagging the national average by 19 percent. A couple other locations with smaller-than-average paychecks include Oklahoma City (13 percent lower) and Omaha (11 percent lower).

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Experience Affects Financial Accountant Salaries




National Average
$51,000


Skills That Affect Financial Accountant Salaries

Payroll Administration
up arrow 11%

Accounting
up arrow 7%

General Ledger Accounting
up arrow 6%

Budget Management
up arrow 4%

Financial Analysis
up arrow 2%

Financial Reporting
0%

National Average
$51,000

Month-End Close
up arrow 2%

Data Analysis
up arrow 2%

Microsoft Excel
up arrow 4%

Financial Applications
up arrow 4%




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 187 votes.

Gender

Female
71 %
Male
29 %

Years of Experience

Less than 1 year
4%
1-4 years
35%
5-9 years
25%
10-19 years
20%
20 years or more
17%

Common Health Benefits

medical benefits Medical: 83% dental benefits Dental: 70%
vision benefits Vision: 55% employee benefits None: 15%
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