Senior Financial Accountant Salary
|Salary||$53,735 - $87,350|
|Bonus||$755 - $11,973|
|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).)
|$54,589 - $91,960|
|Bonus||$755 - $11,973|
|Total Pay (||$54,589 - $91,960|
Job Description for Senior Financial Accountant
A senior financial accountant is primarily responsible for the collection and analysis of financial information for their organization, as well as advising the business on financial decisions. This accountant is the upper-level financial officer within a business, responsible for analyzing the economic stability of their organization. They assist other executive staff members by providing financial reporting, guidance, and knowledge. A senior financial accountant is required to advise employers and staff members regarding investments, report costs and productivity, analyze and report margins, report expenditures, and offer financial recommendations.Read More...
This is typically a leadership position, so additional responsibilities include supervising associate accounting employees and supervising a team of junior accountants. Senior financial accountants must possess strong leadership skills, excellent communication skills, a strong background in economics, and an in-depth knowledge of business and financial laws. They also must have organizational skills, the ability to act and operate independently with minimum supervision, proficiency with basic computer programs, the ability to work collaboratively, and a strong understanding of accounting theory.
This position generally requires a bachelor’s degree in accounting, although graduate degrees are often preferred. Professional certification or licensing is often preferred, and typically required with most businesses; common certifications/liceneses include status as a certified public accountant, status as a certified management accountant, and business valuation accreditation. Senior financial accountant positions also typically require at least five years of experience in the field. Individuals in this job generally work in an office environment during regular business hours, although overtime and alternative hours may be required depending on the needs of the employer.
Senior Financial Accountant Tasks
- Maintain account journals, reconcile accounts and update reports.
- Design process improvements, test them, and implement them.
- Advise teams and management about current and forecasted states.
- Analyze data, create invoices and statements, and identify problems.
Common Career Paths for Senior Financial Accountant
For Senior Financial Accountants, career advancements do not tend to correlate with a rise in salary. On average, lower-level Senior Financial Accountants earn similar salaries to those in higher-end positions like Financial Controller. An Accounting Manager role is the most prevalent career advancement for Senior Financial Accountants. Paychecks for that role are $61K on average. The Senior Financial Analyst position is another common transition for Senior Financial Accountants; in this role, salaries are typically at the $76K mark.
Popular Skills for Senior Financial Accountant
Senior Financial Accountants generally report applying a varied skill set to their work. Most notably, skills in Accounting, Month-End Close, Financial Analysis, and General Ledger Accounting are correlated to pay that is above average. It is often found that people who know Financial Analysis are also skilled in Microsoft Excel.
Pay by Experience Level for Senior Financial Accountant
Pay by Experience for a Senior Financial Accountant has a positive trend. An entry-level Senior Financial Accountant with less than 5 years of experience can expect to earn an average total compensation of $69,000 based on 55 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Senior Financial Accountant with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $73,000 based on 68 salaries. An experienced Senior Financial Accountant which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $72,000 based on 54 salaries. A Senior Financial Accountant with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $81,000 based on 20 salaries.
Pay Difference by Location
For Senior Financial Accountants, working in the bustling city of New York has its advantages, including an above-average pay rate. Senior Financial Accountants can also look forward to large paychecks in cities like Houston (+18 percent), Seattle (+3 percent), Los Angeles (+3 percent), and Chicago (+2 percent). Falling short of the national average by 13 percent, the area with the worst salaries is Cleveland. Workers in Dallas and Denver earn salaries that trail the national average for those in this profession (11 percent less and 1 percent less, respectively).
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Key Stats for Senior Financial Accountant
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