Senior Tax Manager Salary
Job Description for Senior Tax Manager
The primary role that senior tax managers fill is ensuring corporate compliance with all applicable local, state, and federal tax obligations. In addition, senior tax managers develop internal policies relating to taxation and implement these policies into existing accounting practices. Oversight of internal audits is another important aspect of senior tax managers’ duties.Read More...
The staff members who work in a corporate tax office typically report to a senior tax manager. This managerial relationship defines several other duties of senior tax managers, including acting as general supervisors and mentors to these employees, ensuring the quality of the office’s output, and leading internal tax initiatives.
Senior tax managers might have several lower-level managers reporting to them. Regardless of reporting structure, senior tax managers have final responsibility over a number of tasks carried out by the wider tax office. These tasks include internal audits, ensuring compliance with tax laws, researching new tax laws and related events, searching for internal issues that might spur tax issues, reporting all findings to executives, forecasting taxes for accounting purposes, coordinating foreign tax filings, and calculating and making income tax payments.
Senior tax managers work full time in an office environment, though overtime is a frequent occurrence in filing seasons. Employers typically require senior tax managers to have a master’s degree in finance and are a certified public accountant (CPA). A minimum of 10 years’ experience is usually necessary. Senior tax managers must be excellent accountants and have a strong working knowledge of all applicable tax laws.
Senior Tax Manager Tasks
- Mentor and review tax associates to develop people and revenue.
- Lead primary review of complicated or unusual tax documents.
- Research and document tax strategies and new laws.
- Manage and document compliance.
- Oversee tax planning and research, and create plans and goals to advise clients.
Common Career Paths for Senior Tax Manager
Many Senior Tax Managers move into Tax Director roles, in which average pay is a slightly higher $160K per year. More often than not, a Certified Public Accountant role is the next step for Senior Tax Managers moving up in the field. Pay for Certified Public Accountants is usually $59K. Many Senior Tax Managers choose to take on a Tax Accounting Firm Partner role instead, where salaries are typically $156K.
Senior Tax Manager Job Listings
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Popular Employer Salaries for Senior Tax Manager
Dominating the field, EY (Ernst & Young), KPMG, LLP, Deloitte Tax LLP, Mcgladrey, and Eide Bailly, Llp are top firms with a reputation for hiring a great number of Senior Tax Managers. The biggest paychecks can be found at Deloitte Tax LLP — the median salary there is $148K; however, employees are subject to a wide range in pay, with the lowest salaries sitting near $107K and highest ones in the neighborhood of $217K.
Popular Skills for Senior Tax Manager
Senior Tax Managers note just a narrow range of job skills. Most notably, skills in Tax Consulting, Tax Compliance, Legal Research, and Tax Preparation are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Accounting and Tax Preparation. The majority of those who know Tax Compliance also know Tax Preparation and Accounting.
Pay by Experience Level for Senior Tax Manager
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Survey participants with less than five years' experience pocket $80K on average, but those with five to 10 years of experience enjoy a much bigger median of $131K. For Senior Tax Managers, 10 to 20 years of experience on the job amounts to an average salary of $140K. People who have worked for 20 years or more actually report earning less than people who are in the middle of their careers; the veterans take home a mere $138K by contrast.
Pay Difference by Location
For Senior Tax Managers, working in the bustling city of San Jose has its advantages, including an above-average pay rate. Senior Tax Managers can also look forward to large paychecks in cities like New York (+24 percent), Houston (+20 percent), San Francisco (+20 percent), and Los Angeles (+15 percent). The smallest paychecks in the market, 9 percent south of the national average, can be found in Charlotte. Not at the bottom but still paying below the median are employers in Denver and McLean (9 percent lower and 3 percent lower, respectively).