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 $10K from profit sharing — stretch from around $36K to approximately $71K. Residence and career length each impact pay for this group, with the former having the largest influence. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to the greater part. Men are in the minority of survey respondents, with female Financial Accountants making up 70 percent. Job satisfaction is reported as high by the vast majority of workers. This report is based on responses to the PayScale salary survey.
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$38,716 - $69,777

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$13.84 - $28.16

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$24K$48K$72K
Salary
$38,716 - $69,777  
   
Bonus
$0.00 - $6,805  
Profit Sharing
$0.35 - $10,137  
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).
)
$35,856 - $71,417  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 733
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$13$26$39
Hourly Rate
$13.84 - $28.16  
   
Overtime
$19.18 - $38.66  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$26K$52K$78K
Bonus
$0.00 - $6,805  
   
Profit Sharing
$0.35 - $10,137  
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).
)
$35,856 - $71,417  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 159
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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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Though some Financial Accountants move into positions like Chief Financial Officer (where the average salary is $122K), this progression is not the norm. 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.

Financial Accountant Job Listings

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Popular Skills for Financial Accountant


Survey respondents exploit a significant toolbox of skills in their work. 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. Those familiar with Financial Analysis also tend to know Month-End Close.

Pay by Experience Level for Financial Accountant

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


Although individuals who have less than five years' experience earn $49K on average, people with five to 10 years benefit from a notably larger average of $55K. Financial Accountants claiming one to two decades of experience make an estimated median of $54K. Respondents who boast more than two decades on the job don't boast commensurate pay, unfortunately; these veterans see average earnings of 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. Columbus ranks last in the field for pay, reporting salaries 19 percent below the national average. Two other places where employers offer below-median salaries are Oklahoma City (13 percent less) and Omaha (11 percent less).

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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 179 votes.

Gender

Female
70 %
Male
30 %

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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