Senior Tax Analyst Salary
Senior Tax Analysts in the United States take home approximately $77K per year on average. Cash earnings for Senior Tax Analysts — including $10K in bonuses and $7K in profit sharing proceeds near the top of the pay scale — generally stretch from $59K to $99K depending on individual performance. Residence and career length each impact pay for this group, with the former having the largest influence. Almost all receive medical and dental insurance and a fair number get vision plans. Most Senior Tax Analysts like their work and job satisfaction is high. The majority of Senior Tax Analysts (60 percent) who took the survey are female. The data in this summary comes from the PayScale salary survey.
Job Description for Senior Tax Analyst
A senior tax analyst is a management-level worker who performs a variety of tasks related to ensuring their organization complies with all tax regulations and reporting requirements. They develop compliant tax policies for the company, implements them, and generates reports on their financial impact. The senior tax analyst helps companies negotiate changing tax laws and regulations. They are expected to find the most effective ways for a company to meet its tax obligations, while also taking advantage of all opportunities related to credits and exemptions.Read More...
Additionally, the senior tax analyst prepares financial reports on the impact of taxes to the company's bottom line. They forecast quarterly tax reports and generate impact forecasts for initiatives such as expansion or buying or selling parts of the company. The senior tax analyst may arrange (and even oversee) the way the company manages taxes on wages; this typically involves working with a third party or payroll company to ensure accuracy and compliance, as well as ensure prompt reports are issued when required.
A senior tax analyst generally needs to have at least a bachelor's degree in accounting, along with associated certifications such as status as a certified public accountant (CPA). Many companies prefer candidates with extensive tax backgrounds, typically in a junior position to a senior tax manager for at least two or three years. Senior tax analysts typically work in an office environment during regular business hours.
Senior Tax Analyst Tasks
- Prepare state income tax documents, including decoupling modifications and apportionment documents.
- Prepare tax compliance documents, including all necessary forms.
- Input tax provision data and forecast into tax provision software.
- Reconcile tax accounts.
- Prepare all estimated tax payment calculations for the federal and state income tax jurisdictions.
Senior Tax Analyst Job Listings
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Popular Skills for Senior Tax Analyst
Survey results suggest that Senior Tax Analysts put a wide range of professional skills to use. Most notably, skills in Microsoft Excel, Tax Consulting, Tax Compliance, and Tax Preparation are correlated to pay that is above average. At the other end of the pay range are skills like Sales Tax Reports. It is often found that people who know Tax Compliance are also skilled in Tax Consulting.
Pay by Experience Level for Senior Tax Analyst
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 $75K; however, individuals with five to 10 years of experience bring in $83K on average — a distinctly larger sum. For Senior Tax Analysts, 10 to 20 years of experience on the job amounts to an average salary of $81K. Old hands who claim more than two decades on the job enjoy average earnings of $87K.
Pay Difference by Location
Home to some of the best pay for Senior Tax Analysts, Seattle offers exceptional salaries, 11 percent above the national average. Senior Tax Analysts will also find cushy salaries in Detroit (+11 percent), San Francisco (+8 percent), New York (+6 percent), and Chicago (+5 percent). Location is a huge contributor to overall pay, with Senior Tax Analysts in Irvine earning a whopping 40 percent below the national average. Not at the bottom but still paying below the median are employers in Milwaukee and Columbus (18 percent less).