Accounting Major Salary Per Month: What You Need to Know

About Accounting Major Salary

When it comes to choosing a major in college, accounting is often considered a lucrative option. Many students are attracted to the field because of the promising accounting major salary per month. If you're considering pursuing a degree in accounting, it's important to understand the earning potential and factors that can influence your salary.

The Average Accountant Salary With a Bachelor's Degree

According to data from the U.S. Bureau of Labor Statistics, the typical bachelor's in accounting salary came in at $79,520 in 2019. This figure represents the median salary, meaning that half of accountants earn more than this amount and half earn less. The range of salaries for accountants with a bachelor's degree was from $44,480 at the low end to more than $124,450 at the high end.

Factors Affecting Accounting Salaries

Several factors can influence the accounting major salary per month. These include:

• Experience: Accountants with more years of experience generally earn higher salaries. As you gain experience in the field, you can expect your salary to increase.
• Location: The location where you work can impact your salary. Certain cities and states have higher costs of living, which can lead to higher salaries for accountants.
• Industry Sector: The industry you work in can also affect your salary. Accountants in industries such as finance and professional services tend to earn higher salaries compared to those in other sectors.

Earning Potential With a Master's Degree

If you're considering pursuing a master's degree in accounting, you may be wondering about the potential increase in salary. While a bachelor's degree can lead to a rewarding career in accounting, a master's degree can open doors to higher-level positions and potentially higher salaries. According to the U.S. Bureau of Labor Statistics, accountants with a master's degree tend to earn higher salaries compared to those with just a bachelor's degree.

Accounting Salary by State

The accounting major salary per month can also vary depending on the state where you work. Factors such as the local economy and demand for accountants can impact salaries. According to the U.S. Bureau of Labor Statistics, the states with the highest average salaries for accountants include California, New York, and Texas.

Career Growth and Opportunities

Accounting offers excellent career growth and opportunities for advancement. As you gain experience and expertise in the field, you can progress to higher-level positions such as senior accountant, controller, or financial manager. These positions often come with higher salaries and increased responsibilities.

Conclusion

Choosing a major in accounting can lead to a rewarding career with a promising accounting major salary per month. Whether you decide to pursue a bachelor's degree or a master's degree, the field offers opportunities for career growth and advancement. Factors such as experience, location, and industry sector can influence your salary, so it's important to consider these factors when planning your career in accounting.