What does an accountant do & how much do they make?

How much does a accountant make?

• if i go for a bachlers degree in accountant how much will i make i live in the east cost i live in massachusets ( MA ) would i be better getting a bachlers in accounting and a associates in business management or other way around or both associates or what? what would be more money business manager or accountant

• Answer:

  Starting salary about 25 minutes north of Boston for a college grad at a mid-size (15 person) CPA firm in 2005 had a starting salary of $42k. Perks included 75% of my health and dental paid for, 3 weeks vacation (plus two additional weeks using overtime I worked during busy season), $3k/year in tuition reimbursement, and a profit sharing contribution of about $2,500. Subsequently, raises were about 10-12% annually, but that may have changed in the past few years with this recession kicking around. However, I can't imagine someone starting in accounting with a bachelor's making less than $40k (unless you get some bookkeeper role). Salaries would likely be higher at larger firms, but many top-tier CPA firms will only recruit people with excellent academic records from good schools. If I had to choose, skip the associates in business management (it will likely mean nothing to you if you get into accounting) and go with the bachelors in accounting. Popular theory is that if you work in public accounting (audits/taxes), the longer you stay in public, the better you will do in industry (i.e. working in an accounting department of a company as a controller or CFO). You are exposed to a wide variety of things working in public accounting, so the knowledge you gain is not only substantial, but valuable. 5 years into it, I still learn something everyday. However, it can be a brutal industry at times. Long hours of constantly heavy workload through the winter, complemented by quiet summers with plenty of time off. At this point in my life, it works for me. If you want to pursue your CPA license in Massachusetts, prepare to go beyond a bachelor's degree and plan on getting a master's degree, as you need 150 credit hours of education; a bachelor's is 120 credits, a master's 30 credits, giving you the 150. They are very specific as to what courses you would need to take, so look into that now. I never took a business law class during my undergrad years, so that was quite an inconvenience to take it over the summer. Long term, if you do end up in public you will probably hit a six figure salary sometime in your early 30's, and if you really go the distance and end up a partner of a mid-sized firm, $250k annually is my estimate, not to mention the equity in your firm (assuming it is successful). As for private/industry, I have seen people making as little as $32k for a bookkeeper (I am sure some make less), about $40k/year for entry level, average is probably $60k-$80k, and for CFO/Controller roles in mid-sized companies, $100k+ is not surprising. Of course, the salaries go up the larger the company. Hope that helps!