Project Accountant Salary
Job Description for Project Accountant
A project accountant is responsible for managing all the financial information related to a project or projects at their company. They keep track of each project's expenses and provides regular reports on whether the project is over or under budget. Individuals in this position may also be responsible for drawing up proposals for possible projects and informing managers how much a project could potentially cost and/or earn.Read More...
Project accountants typically work indoors in an office setting, but may spend time outdoors at various job sites. Their work is largely mental and requires very little, if any, physical labor. Project accountants typically work during regular business hours, though special projects near completion may require longer hours on nights or weekends. Project accountants work with a variety of colleagues within their own company and outside it. They may obtain information from project managers, call suppliers for pricing and billing concerns, and give instructions to team members to keep projects within budget. Good oral and written communication skills are essential for any project accountant candidate.
Many types of company employ project accountants, from construction companies to engineering firms. An accounting background is needed in this profession, and a bachelor's degree in accounting is strongly recommended. Some employers may require a higher degree, such as a master's of business administration (MBA). Proficiency with accounting software such as Microsoft Excel is required.
Project Accountant Tasks
- Analyze and report on financial project administration; profitability, utilization, budgets, and accruals.
- Ensure compliance with state and federal regulations.
- Generate and interpret financial records and statements for management.
- Collaborate with project management team.
Common Career Paths for Project Accountant
Project Accountants who advance into the role of a Financial Controller are fairly uncommon. Financial Controllers on average earn $77K per year. Project Accountants typically move into roles as Senior Accountants or Accounting Managers, and those positions pay $5K more and $6K more, respectively.
Project Accountant Job Listings
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Popular Employer Salaries for Project Accountant
Popular Skills for Project Accountant
Survey participants wield an impressively varied skill set on the job. Most notably, skills in Budgeting, Project Coordinating, Financial Reporting, and Budget Management are correlated to pay that is above average, with boosts between 4 percent and 14 percent. Skills that seem to negatively impact pay include Accounting. The majority of those who know Accounts Receivable also know Accounts Payable and Microsoft Excel.
Pay by Experience Level for Project Accountant
Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Project Accountants, experience does not seem to be a major factor in determining pay. Those in the early stages of their career can expect to make around $50K; however, individuals with five to 10 years of experience bring in $58K on average — a distinctly larger sum. For Project Accountants, 10 to 20 years of experience on the job amounts to an average salary of $59K. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; a Project Accountant with more than 20 years of experience can earn $60K on average.
Pay Difference by Location
With a pay rate for Project Accountants that is 29 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. Project Accountants will also find cushy salaries in Boston (+27 percent), New York (+23 percent), Houston (+9 percent), and Atlanta (+6 percent). In Orlando, salaries are 16 percent below the national average and represent the lowest-paying market. Employers also pay below the national average in Portland (13 percent lower) and Louisville (7 percent lower).