Junior Accountant Salary
Job Description for Junior Accountant
Junior accountants provide a vital service to various companies by accurately recording corporate finances. Typical daily job duties include reconciling company bank accounts, balancing financial records and preparing monthly reports. They generally work with a team of other accountants and report to a senior accountant. The level of confidentiality and discretion required of junior accountants is great because they work with private company information and are given access to secure accounts.Read More...
Junior accountants are generally expected to give oral or written reports daily, weekly and/or monthly about company debts, budgets, deficits and other expenditures. They also correct financial errors and create reports of those errors. When there are subsidiary or sister companies, junior accountants may also be responsible for maintaining and balancing the financial books of those companies. Junior accountants also are involved in the filing of a company's taxes, maintaining corporate tax records, providing analyses of the financial state of their employing company, and handling quarterly and yearly bookkeeping reports.
To become a junior accountant, a bachelor's degree in accounting or related field is usually required. Some knowledge of computer-based accounting programs like QuickBooks and/or PeachTree are usually appreciated but not always necessary. A background in tax assessment or banking is helpful, but not necessary. Junior accountants must have strong oral and written communication skills, keen eye for detail, intermediate computer proficiency, and mathematical aptitude. They should also be detail oriented, self driven, deadline sensitive and quality-focused.
Junior Accountant Tasks
- Maintain general ledger and oversee all day to day financial transactions.
- Assess data to ensure that proper accounting practices have been following.
- Assist with or conduct fixed asset audits as necessary.
- Create and maintain payroll budgets, update vendor information, and confirm expense vouchers.
- Match large batches of invoices and maintain the accuracy of employee timesheets.
Common Career Paths for Junior Accountant
Junior Accountants who transition into a Financial Controller role may receive large pay increases as the latter position pays an average $77K per year. The most common next step for a Junior Accountant is to become a Staff Accountant or a Senior Accountant. The former position pays an additional $3K per year on average, and the latter position pays $19K more per year.
Junior Accountant Job Listings
Search for more jobs:
Popular Skills for Junior Accountant
Junior Accountants seem to wield many skills on the job. Most notably, skills in Accounting, Financial Reporting, Financial Analysis, and General Ledger Accounting are correlated to pay that is above average, with boosts between 6 percent and 13 percent. Those familiar with Accounts Payable also tend to know Microsoft Excel and Financial Reporting.
Pay by Experience Level for Junior Accountant
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Those in the early stages of their career can expect to make around $40K; however, individuals with five to 10 years of experience bring in $46K on average — a distinctly larger sum. People with 10 to 20 years of experience make an average of about $44K in this role. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $47K, which is substantially larger than the medians reported by folks with fewer years on their resumes.
Pay Difference by Location
For Junior Accountants, busy Rockville offers a higher-than-average pay rate, 29 percent above the national average. Junior Accountants will also find cushy salaries in San Francisco (+23 percent), Houston (+15 percent), New York (+9 percent), and Washington (+8 percent). The smallest paychecks in the market, 7 percent south of the national average, can be found in Cleveland. Below-median salaries also turn up in Dallas and San Diego (7 percent lower and 3 percent lower, respectively).
Related Job Salaries
Key Stats for Junior Accountant
Rated 4 out of 5
based on 126 votes.