Please keep in mind that in almost any career there will always be variations in the paying rates. The annual salary mostly depends on the qualification and the years of experience.
It is vital for a CPA to know and understand local laws and rules affecting accounting. What part of the accounting an accountant is actually doing, also influences the salary.
Education plays a major factorial role that affects an accountant’s salary. The skills with which an accountant can work on software like Microsoft Word, as well as Financial Analysis and Quickbooks, etc., also affects the salary. Factors such as industry, speciality and even the individual employer can determine a higher or lower average.
In the US
Skills that are popular for accounting in the US are Financial Reporting, Accounts Payable, Accounts Receivable, Bookkeeping and Microsoft Excel.
Most accountants are paid by their experience level, but their pay also differs from location to location. San Francisco and Washington pay more than 20% higher than the average. New York and Boston are paying above 10% of the average, whilst Chicago, Houston, Denver, San Diego and Los Angeles are paying less than 10% of the average. St. Louis is the lowest accountant paying location, which ranges below -2%.
The average pay for an accountant ranges between $50,416 and $69,350 per year. The lowest-paid accountant earned an annual average salary of $43,020 and the highest-level accountant earned $122,220. In the US the average hourly rate for an accountant lies between $19.76 and $27.18.
In the UK
To earn an annual average salary of £21,875, after having completed the AAT qualification, can take as little as eighteen months.
In London a newly qualified accountant (ACA/ACCA/CIMA) can earn an annual salary ranging between £50,000 and £55,000.
Skills that are popular for accounting in the UK are Account Management, General-Ledger Accounting, Financial Reporting, Financial Analysis, and Microsoft Excel.
London pays 13% above the annual average, while Belfast, Leeds, Reading, and Glasgow pays 10% below the annual average. Birmingham pays the average, but Bristol pays -1% below average.
The average pay for an accountant ranges between £28,571 and per year. In the UK the average hourly rate for an accountant lies between £13.40 and £27.18.