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The differences between accountant-contractors and project 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 project accountant. Additionally, a project accountant has an average salary of $60,467, which is higher than the $56,906 average annual salary of an accountant-contractor.
The top three skills for an accountant-contractor include reconciliations, general ledger accounts and payroll taxes. The most important skills for a project accountant are reconciliations, project management, and contract terms.
| Accountant-Contractor | Project Accountant | |
| Yearly salary | $56,906 | $60,467 |
| Hourly rate | $27.36 | $29.07 |
| Growth rate | 6% | 6% |
| Number of jobs | 60,024 | 43,672 |
| Job satisfaction | - | 5 |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 72% |
| 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 project accountant is primarily in charge of overseeing the budget and expenditures allocated for various projects within a company. Their responsibilities revolve around reviewing financial data and work plans, managing billing and financial reports, monitoring the flow of revenue, filing purchase orders and invoices, and processing payments to subcontractors, suppliers, and more. It is also vital to coordinate with all managing personnel to prepare necessary reports such as costs and taxes. Furthermore, it is essential to maintain data and records of all transactions, all while implementing the company's policies and regulations.
Accountant-contractors and project accountants have different pay scales, as shown below.
| Accountant-Contractor | Project Accountant | |
| Average salary | $56,906 | $60,467 |
| Salary range | Between $44,000 And $73,000 | Between $46,000 And $79,000 |
| Highest paying City | Newark, NJ | Washington, DC |
| Highest paying state | New Jersey | New Jersey |
| Best paying company | Broadridge | Perficient |
| Best paying industry | Energy | Professional |
There are a few differences between an accountant-contractor and a project accountant in terms of educational background:
| Accountant-Contractor | Project Accountant | |
| Most common degree | Bachelor's Degree, 72% | Bachelor's Degree, 72% |
| Most common major | Accounting | Accounting |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between accountant-contractors' and project accountants' demographics:
| Accountant-Contractor | Project Accountant | |
| Average age | 44 | 44 |
| Gender ratio | Male, 43.8% Female, 56.2% | Male, 36.8% Female, 63.2% |
| 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, 12.3% White, 63.5% American Indian and Alaska Native, 0.5% |
| LGBT Percentage | 7% | 7% |