Accounting is often seen as a profession chosen by introverted individuals who enjoy doing boring, tedious work. While it’s true that bean-counting and number crunching isn’t exactly exhilarating work, accountants are highly valued in society because their jobs are crucial for the smooth operation of all forms of business. In return for their hard work, employers reward their accounting professionals with great pay among other things. Here are some of the highest paying accounting jobs and their respective salaries.
Considered to be a step up from an entry-level accounting position, auditors are responsible for making sure that all financial records are accurate. Doing this means comparing reported transactions with the numbers documented in company financial records and locating inconsistencies. Auditors may be required to travel on occasion to complete their work. In exchange for maintaining the financial health of an organization, these accounting professionals are paid a salary of $50,000 to $70,000 per year according to The Houston Chronicle.
These accountants specialize in planning for the financial future of an organization by coming up with financial policies, payroll and benefits modifications, budgeting plans and more to ensure that businesses always make the most effective use of their funds. Profit is the ultimate goal, but poor financial planning can bring company accounts into the negative. Financial accountants are an essential asset to most businesses, and they can earn anywhere from $44,000 to $100,000 per year.
As the title suggests, managerial accountants are in charge of supervising all other accountants at an organization in their daily duties. They are primarily responsible for making daily budgeting decisions and creating performance evaluations for the financial team. Managerial accountants sometimes aid in deciding on investing in real estate, bonds, stocks and more. With all of this responsibility comes higher pay, and these accountants get paid quite well–$60,000 to $400,000 per year to be exact.
Senior Staff Accountant
Senior accountants have been with an organization for many years and have the most experience performing general accounting tasks. These individuals are experts at doing bookkeeping, taxes, payroll, auditing and more. By proving their competency and dedication to a business, senior accountants are trusted members of the financial team. According to careers-in-accounting.com, these veterans usually make anywhere from $65,000 to $95,000 a year.
Chief Financial Officer
Accountants who move up through company ranks may one day end up at the top of the ladder. The Chief Financial Officer oversees all financial operations within an organization and has the final word on all major financial decisions and policies. The CFO creates detailed statistical reports on the finances of the business using company records to understand its current financial state. With this knowledge, the CFO can devise plans and policies to ensure ultimate financial success. Salary.com lists an average CFO salary of just over $300,000.
As you can see, most accounting positions pay quite well. This is evidence of the importance of a strong accounting team in modern day business. Every company dollar should be accounted for if the business is to thrive. Without excellent financial management, any organization will eventually fail.