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SmartPros Salary Survey Results


February 2007 (SmartPros) Respondents who participated in the recent SmartPros Salary Survey reported an average salary of $83,614. Most reported receiving bonuses in recent months, the vast majority have healthcare and retirement plans through their employers, and more than two-thirds can receive continuing professional education reimbursement. However, 37 percent said they are looking for a new job.



See also: Salary Survey 2006-07: The CPA Difference

Highlights:

  • The majority of our survey respondents (70 percent) are in Corporate Accounting (37 percent) or Public Accounting (33 percent).

  • The highest academic credential achieved by most is a Bachelor's degree (62 percent).

  • Based on years of experience, entry level respondents reported an average salary of $44,506. In comparison, those with 10 to 15 years experience reported an average salary of $90,279.

  • In our survey, there is a large, 44 percent pay gap between men and women. Men reported an average of $101,203 and women an average of $70,520.

  • More than one-third (41 percent) are exclusively certified as CPAs, with an average salary of $91,608. Those with both a CPA license and an MBA degree reported an average salary of $109,628.

  • Twenty-seven percent of respondents have no license/certification, with an average salary of $53,402.

  • Those in the Pacific region (Alaska, California, Hawaii, Oregon, Washington) reported the highest average salary, $95,933.

  • Most respondents have received a bonus in the last 12 months, 67 percent of whom reported a bonus of 3 percent or more.

  • Healthcare benefits are the most popular benefit offered by respondents' employers (92 percent), followed by retirement savings plans (88 percent), CPE reimbursement (68 percent) and flexible schedules (52 percent).

  • Only 19 percent said their employer offers telecommuting, which the 2007 Salary Guide from Robert Half says is growing in popularity for accounting firms trying to attract talent.

  • Thirty-seven percent of respondents said they are looking, or plan to look for, a new job in the next 12 months. There is a 25 percent pay gap between those looking for a new job ($72,137) and those not looking for a new job ($90,459).

  • Twenty-one percent of respondents said their favorite aspect of their current position is "job responsibilities," followed by "work environment" (18 percent) and "employer/company" (18 percent). Only 12 percent said "salary/benefits."

  • In contrast, 31 percent said what they like least about their job is the "work schedule (time commitment)." Right behind at 26 percent is "salary/benefits."

Survey data:

 

Gender

Percentage

Average Salary

Male

43%

$ 101,203

Female

57%

$  70,520

 

Highest Academic Credential

Percentage

Average Salary

Associate's degree

3%

$  72,787

Bachelor's degree

62%

$  81,123

Master's degree

30%

$  92,841

Doctoral degree

2%

$ 110,833

None of the above

3%

$  45,977 

 

Area of Practice

Percentage

Average Salary

Corporate Accounting

37%

$  94,079 

Public Accounting

33%

$  75,391

Financial Services

4%

$ 102,617

Banking

3%

$  70,765

Government

8%

$  73,928

Academia

2%

$  80,406

Not-for-Profit

7%

$  67,456

Other*

6%

$  84,709

*responses mostly included non-accounting positions, such as
"human resources," "training," "research," and "insurance."

 

Area of Responsibility

Percentage

Average Salary

Accounting

24%

$  76,314

Audit

19%

$  69,079

Accounts Payable or Receivable

2%

$  35,654

Controller

12%

$ 102,310

Finance

11%

$ 106,140

Tax

16%

$  85,239

Education

2%

$  78,625

Operations

3%

$  68,557

Other

11%

$  94,109

 

Level of responsibility

Percentage

Average Salary

Entry level

3%

$  39,091

Staff

14%

$  45,404

Associate

5%

$  48,437

Senior

21%

$  63,759 

Manager

28%

$  80,714

Director

9%

$ 106,901

Executive

6%

$ 154,575

Partner

3%

$ 163,423

President or Vice President

5%

$ 153,239

Self employed

3%

$ 119,080

Other*

3%

$ 82,351

*many of these responses included accounting- or financial-related
responsibilities that the entrant did not feel fell into one of the categories
listed above; in addition, non-accounting roles such as "human resources"
and "training" are included as "other."

 

Years of Experience

Percentage

Average Salary

Entry level

5%

$  44,506

1-3

17%

$  55,524 

4-9

28%

$  73,081

10-15

21%

$  90,279

16+

29%

$ 108,824

Retired

<1%

$ 175,250

 

Employer Size

Percentage

Average Salary

Sole practitioner

3%

$  83,240 

Less than 20

19%

$  83,778

21-100

18%

$  74,066

101-500

17%

$  91,921

501-1,000

8%

$  84,070

1,001-10,000

15%

$  84,694

10,000+

20%

$  80,995

 

Certifications

Percentage

Average Salary

CPA (only)

41%

$  91,608 

CPA + MBA

8%

$ 109,628

CPA + Other*

9%

$ 97,665

MBA (only)

4%

$ 103,248

CMA (only)

2%

$  97,350

CMA + other

2%

$ 148,000

None

27%

$  53,402

Other

7%

n/a 

*This excludes the CPA+MBA combination. "Other" entrants reported
exclusive certfication in PFS, CIA, CGFM, ABV, CISA, PB, JD, etc.
However, each of these had too few entrants
 to find a representative average.

 

Location/Region

Percentage

Average Salary

New England
Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont

4%

$  94,455

Mid-Atlantic
New Jersey, New York, Pennsylvania

14%

$  84,345

East North Central
Illinois, Indiana, Michigan, Ohio, Wisconsin

12%

$  85,622

East South Central
Alabama, Kentucky, Mississippi, Tennessee

4%

$  62,627

Mountain
Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah, Wyoming

5%

$  73,195

Pacific
Alaska, California, Hawaii, Oregon, Washington

13%

$  95,933

South Atlantic
Delaware, Florida, Georgia, Maryland, N. Carolina, S. Carolina, Virginia, Wash. D.C., W. Virginia

26%

$  88,100

West North Central
Iowa, Kansas, Minnesota, Missouri, Nebraska, N. Dakota, S. Dakota

15%

$  76,628

West South Central
Arkansas, Louisiana, Oklahoma, Texas

7%

$  69,117

 

Bonus in the last 12 months?

Percentage

Average Salary
No

18%

$  70,797 
Less than 3%

15%

$  74,349
3-5%

27%

$  73,490
5-10%

22%

$  91,135
More than 10%

18%

$  111,249

 

Benefits offered by your employer? Percentage
Healthcare benefits

92%

Retirement savings plans

88%

Professional development reimbursement (such as CPE)

68%

Flexible schedule

52%

Tuition reimbursement (for college)

48%

Spot bonuses

24%

Telecommuting

19%

Extra time off and/or sabbatical

17%

Other

15%

On-site health facilities

13%

Childcare services or reimbursement

11%

None of the above

2%

 

What do you like MOST about your current job? Percentage
Job responsibilities

21%

Work environment

18%

Employer/company

18%

Work schedule (time commitment)

14%

Salary and/or benefits

12%

Opportunity for growth

11%

Clients/customers

6%

 

What do you like LEAST about your current job? Percentage
Work schedule (time commitment)

31%

Salary and/or benefits 

26%

Work environment 

11%

Job responsibilities 

11%

Limited oppty for growth 

10%

Employer/company

6%

Clients/customers

5%

 

Are you looking for a new job in the next 12 months? Percentage Average Salary
No

63%

$  90,459

Yes

37%

$  72,137

 

About the survey: SmartPros conducted the opt-in unscientific online survey from Nov. 28, 2006, to Feb. 12, 2007, and received 621 qualified entries. Entries deleted from the final results included those with missing fields, duplicates, and errors. The final results also excludes entrants who reported themselves as students and/or outside the United States.

For questions about this survey, email editor@smartpros.com.

2007 SmartPros Ltd. All rights reserved.

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