Financial Accountant Salary

The East Coast is the promised land for Financial Accountants; the three top-paying cities in America are New York, Boston, and Philadelphia. Total cash compensation to Financial Accountants approaches anywhere from $36K on the lower end to $72K on the higher end; in exceptional cases, this can include more than $7K from bonuses and upwards of $12K from profit sharing. Geographic location is the biggest factor affecting pay for this group, followed by career duration. Job satisfaction is reported as high by the vast majority of workers. Female Financial Accountants make up most of the survey respondents at 71 percent. Medical benefits are awarded to most, and a strong majority earn dental coverage. This snapshot results from replies to PayScale's salary survey.
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$38,627 - $69,946
(Median)
$39K
$51K
$70K
MEDIAN: $51,443
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
$38,627 - $69,946  
   
Bonus
$0.00 - $7,071  
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 - $71,658  
Country: United States | Currency: USD | Updated: 2 Jul 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 - $7,071  
   
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 - $71,658  
Country: United States | Currency: USD | Updated: 2 Jul 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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There are some Financial Accountants — though it's uncommon — that transition into Chief Financial Officers, where earnings are an average $122K annually. It is quite typical for Financial Accountants to transition into roles as Senior Accountants or Financial Controllers, where reported median earnings are $8K and $26K higher per year.

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Popular Skills for Financial Accountant


Financial Accountants seem to exploit a large range of 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 pay less than market rate include Accounts Receivable, Accounts Payable, and Microsoft Office. Most people skilled in Financial Analysis are similarly competent in Month-End Close.

Pay by Experience Level for Financial Accountant

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


Workers in their first five years can expect to earn $49K, but people who have been around for five to 10 years earn a noticeably bigger sum of $55K. Financial Accountants claiming one to two decades of experience make an estimated median of $54K. Financial Accountants who have racked up more than two decades of experience report lower incomes overall; the average sum for this crowd comes out to only $53K.

Pay Difference by Location


Financial Accountants in search of higher pay head east. New York, Boston, and Philadelphia all offer salaries above the national rate. With compensation 19 percent below the national average, Columbus is not known for hefty paychecks and actually represents the lowest-paying market. Not at the bottom but still paying below the median are employers in Oklahoma City and Omaha (13 percent lower and 11 percent lower, respectively).

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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 3%

Financial Applications
up arrow 3%




Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 186 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: 71%
vision benefits Vision: 56% employee benefits None: 15%
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