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August 22, 2008, Newsletter Issue #62: Expected Earnings With a Bachelor of Science in Accounting
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Tip of the Week
After you earn your Bachelor of Science in accounting, your potential earnings can vary widely. Much depends on where you work and how much experience you have. Your job title influences your compensation regardless of your location as your depth of responsibility strongly dictates salary levels. Here are some compensation levels you can use for comparisons. Three major cities were compared: Chicago, IL, Dallas, TX, and Omaha, NE. The lower end of the general compensation ranges apply to Omaha, while the higher end salaries apply to Chicago. These ranges are for new graduates with limited experience in the field.
Accountant: Between $35,000 and $52,000 Senior Accountant: Between $43,000 and $64,000 Controller: Between $55,000 and $102,000 CPA: Between $42,000 and $73,000 Financial Analyst: Between $41,000 and $57,000 Auditor: Between $40,000 and $62,000 The above are rough median numbers, somewhere in the average middle of pay ranges. Should you work in New York, Massachusetts, California, etc., your compensation will increase by 10 percent to 40 percent, depending on your proximity to one of their major cities. Should you work in Georgia, Mississippi, or Alabama, you might deduct about 10 percent to 25 percent. Experience is a major factor. If you already have two to five years’ experience in your field, you can expect to earn 10 percent to 50 percent more than basic salary ranges. Be aware that different industries compensate identical job titles and descriptions higher or lower than median estimates because of your perceived responsibility level within that industry.
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