As professionals who deal with money, accountants should know exactly how much they are worth, and subsequently how much they should be compensated. This 2017 Accounting Salary Guide for New York accountants will detail the salaries for different levels of professionals in the industry. From staff accountants all the way up to the CFO, this handy guide will tell you everything you need to know about accounting salaries in New York.
Staff accountants work directly under a senior accountant, manager, or CFO. They are in charge of maintaining financial reports, ledgers, book,s and records. This job requires basic knowledge of bookkeeping, financial reporting, as well as a working knowledge of GAAP and tax law.
- Bachelors in Accounting
- 1 year of experience (including internship experience)
Staff Accountant Salary
- Average National Salary: $48,100 according to payscale.com
- Average NY/NYC Area Salary: $56,387 according to glassdoor.com
Senior accountants are in charge of staff accountants but also report to the manager, controller, or CFO. They work closely with clients or senior level management on making financial decisions. Senior accountants should be knowledgable about tax, financial reporting, and analytical decision making. They have several years of experience, hold certifications or additional credentials, and typically hold graduate level degrees.
- Bachelor degree required, graduate level degree preferred
- 3 to 5 years minimum of related experience
- CPA or other certifications preferred and sometimes required
Senior Accountant Salary
- Average National Salary: $64,766 according to payscale.com
- Average NY/NYC Area Salary: $76,061 according to glassdoor.com
Senior Accounting Manager
The senior accounting manager will work closely with the controller, CFO, or Partner (in the case of public accounting) to oversee high level financial decision making. Senior Accounting managers in private accounting firms will oversee a specific function of the accounting department ranging from tax to accounts payable. Senior accounting managers will have several years of experience, mastery level knowledge of financial reporting or tax compliance, and may be in charge of entire departments.
- 8 to 10 years of related experience
- Graduate level degree required
- CPA or other certifications required
Senior Accounting Manager Salary
Chief Financial Officer (CFO)
CFOs are senior executives in charge of maintaining the financial health of a company. Their duties include, but are not limited to, cash flow management, financial reporting compliance, forecasting, budgeting, and analyzing the companies financial strengths and weaknesses. The job of a CFO is difficult and requires years of experience and detailed knowledge of the industry and reporting requirements.
- Over 10 years of related experience in a management position
- Graduate level degree required
- CPA and other certifications required
- Extensive financial knowledge of the industry
- Median National Salary: $155,553 according to glassdoor.com
- Average NY/NYC Area Salary: $183,315 according to glassdoor.com
Keep in mind that these are averages and do not reflect the nuances of the accounting profession as a whole. Certification, graduate degrees, experience, and industry specific salaries may all impact the salary of an individual accountant.
However, these salaries give an indication of how much the average accountant is being paid at each level. If you are a senior accountant with a CPA and an MBA being paid $50,000 a year then odds are you are being underpaid. Use this guide as a benchmark in your current career or your future job search to determine your value.