Average salaries for accountants and CPA’s by state: Accountants are generally paid well when compared with other professionals with similar education requirements.
In fact, according to the Bureau of Labor Statistics, the average salary for accountants and auditors was $68,150 ($32.76 per hour) in 2016, and their salaries are expected to rise another 3.7% in 2017.
There are a number of factors that determine an accountant’s salary, (such as industry and company size) but the two main factors are geography and experience.
So, just how important is geography? The average accountant in New York (best) can expect to make about 60% more than the average accountant in Mississippi! (worst)
Of course, there are a number of other variables to consider, like cost of living, industry growth rate, and state income taxes, but let’s look at the average salaries by state to get an idea of where tax professionals are being paid the most, and the least in America.
Accountant Salaries: BEST 15 States:
Curious to know which states pay accountants the least on average? Here’s a list of the states that pay accountants the least, on average
Accountant Salaries: WORST 15 States:
It also appears that beautiful islands are not the best places for someone in the accounting industry to earn a big paycheck. The worst salaries are in these U.S. islands:
- Puerto Rico: $36,500
- Guam: $44,010
- Virgin Islands: $53,050
But, hey, your salary should take a distant second to your happiness, especially if you’re on a beautiful beach!
Accounting Salaries: Geography Matters
As you can see, when it comes to determining the average salary for an accountant or CPA, geography matters.
Also keep in mind that salaries in different parts of individual states may vary significantly. For example, an accountant working in New York City may be making double the annual salary of an accountant in Cooperstown, NY! (where someone is more likely to just file on their own with Turbo Tax!)
*Statistics based on occupational employment statistics for “Accountants & Auditors” from the Bureau of Labor