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The differences between accountant-contractors and general accountants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both an accountant-contractor and a general accountant. Additionally, an accountant-contractor has an average salary of $56,906, which is higher than the $55,043 average annual salary of a general accountant.
The top three skills for an accountant-contractor include reconciliations, general ledger accounts and payroll taxes. The most important skills for a general accountant are financial data, reconciliations, and cash handling.
| Accountant-Contractor | General Accountant | |
| Yearly salary | $56,906 | $55,043 |
| Hourly rate | $27.36 | $26.46 |
| Growth rate | 6% | 6% |
| Number of jobs | 60,024 | 87,663 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 75% |
| Average age | 44 | 44 |
| Years of experience | 4 | 4 |
An accountant contractor directly manages a customer's business. The contractor works exclusively on the company and organizes all its financial reports. The accountant contractor controls, inspects, and encodes all the company's financial transactions, ensuring that everything is well-accounted for and adequately documenting its activities. The contractor must be licensed, have expert skills in accountancy, be well-organized, have a high level of communication skills, and work under pressure.
A general accountant is responsible for evaluating account statements, conducting data analysis with financial transactions, and generating reports on revenues, expenses, and sales forecasting. These accountants manage discrepancies on the company and clients' profiles, including bank reconciliations and processing of account receivables and payables. They also handle the release of invoices and petty cash, analyzing balance sheets, and updating accurate financial information on the database. A general accountant must have excellent analytical skills, as well as extensive knowledge of the accounting principles and disciplines.
Accountant-contractors and general accountants have different pay scales, as shown below.
| Accountant-Contractor | General Accountant | |
| Average salary | $56,906 | $55,043 |
| Salary range | Between $44,000 And $73,000 | Between $40,000 And $73,000 |
| Highest paying City | Newark, NJ | Washington, DC |
| Highest paying state | New Jersey | New Jersey |
| Best paying company | Broadridge | Apple |
| Best paying industry | Energy | Automotive |
There are a few differences between an accountant-contractor and a general accountant in terms of educational background:
| Accountant-Contractor | General Accountant | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 75% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between accountant-contractors' and general accountants' demographics:
| Accountant-Contractor | General Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 43.8% Female, 56.2% | Male, 43.1% Female, 56.9% |
| Race ratio | Black or African American, 8.9% Unknown, 4.0% Hispanic or Latino, 11.2% Asian, 12.1% White, 63.3% American Indian and Alaska Native, 0.5% | Black or African American, 8.7% Unknown, 4.0% Hispanic or Latino, 11.1% Asian, 13.7% White, 62.1% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 7% |