Accountant Salary and Career Outlook

Accountant Career Outlook

Accounting is a function almost every business needs to survive. In fact, the profession is often referred to as “the language of business.” This is because accounting reveals the inner workings of a business in a standardized format to both internal and external stakeholders. Because the discipline of accounting is vital and globalization continues, accounting remains a foundational function across industries. Read on to learn more about the skills and career paths available to accountants.

Accounting Industry Changes

In recent years, the accounting industry has undergone advancements in technology. For instance, automated data entry and bookkeeping services have reduced the need for manual data entry. Moving forward, innovations in accounting technology will continue to bring more machine learning into how firms handle data.

As automation and machine learning continue to change how firms handle data, many accounting roles are shifting toward more analytical work that emphasizes interpretation and judgment over manual data entry.

Accountant Career Path Flexibility

There are certain fundamental skills all accountants must have, such as attention to detail, proficiency with spreadsheets, and the ability to problem-solve. With the foundational knowledge accountants possess, they can choose from a wide array of professional roles.

Accountants can put their skills to use in private companies, dealing with internal financial information of a firm. Conversely, accountants can work in the public sector, aiding government entities in the management of financial resources.

Overall, the accounting field offers opportunities across a range of sectors — from government to private companies to self-employment — giving accountants flexibility in choosing where and how they work.

Here are the five industries with the highest accountant employment, according to the U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) program:

Employer Demand for Accountants with Master’s Degrees

The accounting field is competitive. Earning a master’s in accounting degree is one way to stand out. It also equips you with credentials you may need to achieve higher paying positions.

Top-level employers like the “Big Four” accounting firms look for qualified candidates and have a large pool of potential employees to choose from.

A master’s in accounting is not the only graduate degree that may boost your attractiveness to potential employers in the financial services industry. Other business degrees, such as an MBA, could also be another option. Consider an MBA as a viable option to give you a competitive edge. If an MBA is something you are interested in, consider earning it with a specialization in accounting.

If you want to earn an MS in accounting degree but are unsure how you would fit it into your schedule, consider earning your master’s in accounting online. This option may provide flexibility and pacing unique to your needs.

A master’s degree can give you the needed edge to succeed in the competitive world of accounting. However, you must determine whether pursuing this graduate degree is right for your career path and goals.

4 Highest Paying Accounting Fields

An important consideration in the decision to become an accountant is potential earnings. As mentioned, accounting includes financial services across many industries. Here are some of the most lucrative industries for accountants:

^{Sourced from BLS OEWS, May 2025.}

These are just a sample of jobs that may pay higher than average in the accounting field, but there are many more positions available to pursue. These industry-specific accountant salary figures are reported by the BLS.

What is the Average Salary for Accountants?

Accounting is a broad industry that encompasses services like internal and external auditing, tax preparation and financial report creation. An accountant’s salary also depends on the industry they work in. Other factors that influence earnings include the accountant’s level of education and experience.

All things considered, the median annual wage for accountants and auditors, $83,680, is above the national median annual wage of $50,980 for all occupations. This above-average pay is one factor that adds to the appeal of the accounting profession.

Keep in mind that the median number reflects the industry midpoint. According to the BLS, the lowest-earning 10% of accountants and auditors made less than $56,020 a year as of May 2025.

CPA Certification

Another way to boost earnings is with a CPA (certified public accountant) or other certification. This requires a thorough knowledge of accounting.

As of the CPA Evolution licensure model, the CPA exam consists of three required Core sections plus one Discipline section chosen by the candidate:

1. Auditing and Attestation (AUD)
2. Financial Accounting and Reporting (FAR)
3. Regulation (REG)
4. One Discipline section: Business Analysis and Reporting (BAR), Information Systems and Controls (ISC), or Tax Compliance and Planning (TCP)

The Uniform CPA Examination is administered by AICPA and NASBA on behalf of state boards of accountancy, but each jurisdiction’s own board of accountancy sets the additional education and experience requirements and issues the CPA license. CPAs are often in demand among employers.

5 Top Paying States for Accountants

The place you live also factors into your earning capabilities as an accountant. Certain states, specifically those on the East Coast, report above-average accountant salaries.

Here are the five states in the U.S. with the highest pay for accountants, as reported by the BLS:

^{Sourced from BLS OEWS, May 2025.}

5 Top Paying Metropolitan Areas for Accountants

For a more focused look, here are the metropolitan areas where accountants earn the most:

^{Sourced from BLS OEWS, May 2025.}

Keep in mind these are average salaries and your unique earnings will be impacted by factors like experience and education, to name a few. Additionally, the high cost of living in cities like the San Francisco Bay Area, New York and Washington, D.C. may offset higher earnings.

Jumpstart Your Career in Accounting

All things considered, accounting offers a broad range of paths across private, nonprofit and public-sector employers. Technological changes are ushering innovation into even the most established accounting firms.

It will be important to decide which accounting concentration you wish to work in and to discover what credentials you may need to pursue your ideal accounting job.

With this information in mind, understand that the industry is competitive. Earning a master’s degree in accounting or gaining CPA certification can differentiate you from others in the field.