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
- Create and maintain payroll budgets, update vendor information, and confirm expense vouchers.
- Match large batches of invoices and maintain the accuracy of employee timesheets.
- Assist with or conduct fixed asset audits as necessary.
- Maintain general ledger and oversee all day to day financial transactions.
- Assess data to ensure that proper accounting practices have been following.
Common Career Paths for Junior Accountant
At the upper end, Junior Accountants who move into an Assistant Controller role can end up with a hefty increase in pay. The average income for Assistant Controllers is a much higher $65K per year. It is quite typical for Junior Accountants to transition into roles as Staff Accountants or Senior Accountants, where reported median earnings are $3K and $19K higher per year.
Junior Accountant Job Listings
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Popular Skills for Junior Accountant
Survey results imply that Junior Accountants deploy a substantial tool kit of skills at work. Most notably, skills in Financial Analysis, Financial Reporting, Payroll Administration, and Auditing are correlated to pay that is above average. Those educated in Accounts Payable tend to be well versed in 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.
Relatively untried employees who have less than five years' experience make $40K, but folks with five to 10 years under their belts enjoy an appreciably larger median of $44K. After working for 10 to 20 years, Junior Accountants make a median salary of $43K. Big financial gains seem to result from working for more than two decades; veterans in this group report earning $47K on average.
Pay Difference by Location
Home to some of the best pay for Junior Accountants, Rockville offers exceptional salaries, 29 percent above the national average. Junior Accountants can also look forward to large paychecks in cities like San Francisco (+25 percent), Houston (+14 percent), Washington (+9 percent), and Seattle (+9 percent). San Diego ranks last in the field for pay, reporting salaries 4 percent below the national average. Not at the bottom but still paying below the median are employers in Portland and Dallas (3 percent lower and 2 percent lower, respectively).