Accounting Internship Projected Growth In The United States
Research Summary. After extensive research, interviews, and analysis, Zippia's data science team found that:
Salaries have increased 10% for accounting interns in the last 5 years
Projected job growth for accounting interns is -4% from 2018-2028
There are over 499,747 accounting interns currently employed in the United States
There are 80,299 active accounting internship job openings in the US based on job postings
The average salary for an accounting internship is $30,642
Are Accounting Internship Jobs In Demand?
No, accounting internship jobs are not in demand. The job market for analysts is projected to decline -4% from 2018 to 2028.
Accounting Internship Job and Salary Trends Over Time
Accounting Internship Jobs Over Time
Accounting Internship Job Growth Over Time
| Year | # Of Jobs | % Of Population |
|---|---|---|
| 2012 | 528,573 | 0.17% |
| 2013 | 523,058 | 0.16% |
| 2014 | 519,894 | 0.16% |
| 2015 | 522,289 | 0.16% |
| 2016 | 518,416 | 0.16% |
Average Accounting Internship Salary Over Time
Accounting Internship Salary By Year
| Year | Avg. Salary | Hourly Rate | % Change |
|---|---|---|---|
| 2008 | $21,307 | $10.24 | - |
| 2009 | $22,080 | $10.62 | +3.6% |
| 2010 | $22,803 | $10.96 | +3.3% |
| 2011 | $23,489 | $11.29 | +3.0% |
| 2012 | $24,168 | $11.62 | +2.9% |
Number Of Accounting Internships By State
Mouse over a state to see the number of active accounting internship jobs in each state. The darker areas on the map show where accounting interns earn the highest salaries across all 50 states.
Most Common States For Accounting Internships
| Rank | State | Population | # of Jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 140 | 20% |
| 2 | Montana | 1,050,493 | 112 | 11% |
| 3 | Delaware | 961,939 | 92 | 10% |
| 4 | Massachusetts | 6,859,819 | 446 | 7% |
| 5 | Colorado | 5,607,154 | 368 | 7% |
| 6 | Nebraska | 1,920,076 | 127 | 7% |
| 7 | New Hampshire | 1,342,795 | 91 | 7% |
| 8 | Alaska | 739,795 | 49 | 7% |
| 9 | Maryland | 6,052,177 | 374 | 6% |
| 10 | Minnesota | 5,576,606 | 360 | 6% |
| 11 | Oregon | 4,142,776 | 241 | 6% |
| 12 | Iowa | 3,145,711 | 194 | 6% |
| 13 | California | 39,536,653 | 1802 | 5% |
| 14 | Illinois | 12,802,023 | 701 | 5% |
| 15 | Virginia | 8,470,020 | 395 | 5% |
| 16 | Connecticut | 3,588,184 | 174 | 5% |
| 17 | Utah | 3,101,833 | 153 | 5% |
| 18 | Rhode Island | 1,059,639 | 56 | 5% |
| 19 | North Dakota | 755,393 | 35 | 5% |
| 20 | Vermont | 623,657 | 31 | 5% |
Most Common Cities For Accounting Internships In The US
| Rank | City | # of Jobs | Employment/ 1000ppl | Avg. Salary |
|---|---|---|---|---|
| 1 | Annapolis | 3 | 8% | $26,536 |
| 2 | Dover | 3 | 8% | $30,036 |
| 3 | Idaho Falls | 3 | 5% | $30,333 |
| 4 | Bloomington | 3 | 4% | $33,145 |
| 5 | Atlanta | 13 | 3% | $28,910 |
| 6 | Lansing | 3 | 3% | $28,657 |
| 7 | Des Moines | 4 | 2% | $27,611 |
| 8 | Hartford | 3 | 2% | $32,425 |
| 9 | Little Rock | 3 | 2% | $24,850 |
| 10 | Indianapolis | 10 | 1% | $27,808 |
| 11 | Denver | 5 | 1% | $36,001 |
| 12 | Boston | 4 | 1% | $31,311 |
| 13 | Washington | 4 | 1% | $34,165 |
| 14 | Montgomery | 3 | 1% | $25,003 |
| 15 | Phoenix | 7 | 0% | $29,841 |
| 16 | Los Angeles | 5 | 0% | $38,282 |
| 17 | Chicago | 4 | 0% | $28,197 |
| 18 | San Francisco | 4 | 0% | $40,331 |
Experts Weigh In On Accounting Internship Job Outlook
We spoke to professors and experts from several universities and companies to get their opinions on where the job market for recent graduates is heading, as well as how young graduates entering the industry can be adequately prepared. Here are their thoughts.
Our Panel of Experts
Appalachian State University
California State Polytechnic University, Pomona (Cal Poly Pomona)
Kevin Eller
Associate Professor of AccountingAppalachian State University
Walker College of Business, Department of Accounting
What are the biggest trends we'll see in the Accounting Internship job market given the pandemic?
Kevin Eller: I think the biggest pandemic-related trends in public accounting involve remote/virtual work. The pandemic forced employees at all levels, as well as clients, to embrace remote work. Public accounting firms have generally reserved remote/virtual work for manager-level and above, but this changed literally overnight. From my discussions with firms, it seems that some level of remote work is here to stay even after the pandemic ends. For instance, many audit clients have realized that a portion of the audit can be completed remotely rather than on site, which results in a cost savings to the client. I think remote work is here to stay in some capacity at all levels, including entry-level positions. New hires should be expecting this, especially at larger firms.
What technical skills for an Accounting Internship stand out to employers?
Kevin Eller: Skills in data analytics really stand out to potential employers in the field of public accounting, particularly in larger firms. In addition, firms are looking for employees who are always striving to learn and willing to seek out answers. I heard a story from one firm about an intern who was given a task with a time budget of around 12 hours. Using resources and tutorials found on YouTube, the student figured out a way to complete (and essentially automate) the task in Excel, and it only took around two hours (and in the future the task would take just a matter of minutes due to the automation). The firm was extremely impressed by this student's initiative, and the student received a full-time job offer. The firm representative commented, "that is the kind of employee we are always looking for." Lastly, communication skills and critical thinking skills have been and continue to be important to employers in accounting.
How have salaries changed over time for Accounting Internships?
Kevin Eller: From what I have seen at the entry level, compensation in public accounting has been stable in recent years, and only modest increases are expected this coming year. However, demand in public accounting is still very strong and will likely continue growing. As has been the case for many years, opportunities for significant increases in compensation in public accounting come through advancement and promotion.
Will there be an enduring impact of the coronavirus pandemic on Accounting Internships?
Magdy Farag Ph.D.: This is difficult to gauge right now. The transition to online teaching happened so quickly with very minimal preparation. Online teaching is very challenging to instructors and students, but due to the coronavirus pandemic, both instructors and students did not have a choice. The educational system had to quickly transition to this remote environment that many resisted for a long time. Due to this quick transition, teaching delivery was not very effective, students' comprehension of knowledge was disturbed, and students' evaluation was less strict. All of these factors might impact the quality of graduates temporarily. Graduates will have the opportunity to catch up on what they missed through their professional experiences. This is why "an enduring impact" is a very extreme statement. I would rather use "temporary impact" to reflect on the impact of the coronavirus pandemic on graduates.
What's a day at work look like for an Accounting Internship?
Magdy Farag Ph.D.: The world is now more accepting of the idea of remote work. A traditional nine-to-five accounting job is definitely changing. Recent graduates should be prepared to work more from home with more flexible hours. They are now trained for online and virtual meetings. Virtual communication is an essential tool that is needed for any recent graduate. Supervision is also going to be different as completing a task will be measured by the final results. I would expect that directions from supervisors will be reduced as recent graduates are expected to rely heavily on their own research to find answers and to complete tasks in their own way using their own tools. Recent graduates should be aware of the importance of improving their skills to adapt and work in a virtual environment that the world is heading to right now.
What will help Accounting Internships increase their earning potential?
Magdy Farag Ph.D.: In the accounting field, people must be aware of the importance of improving their credentials. Accounting graduates must earn a professional certification related to the field of their work. Obtaining a CPA license, for example, is a necessity to survive in this field. It is also important for people to be aware of changes in the profession. Analytics is an important element in the accounting world. Accountants deal with a large amount of data and information that can be used in financial analyses that they were never exposed to before. They should acquire the knowledge and the skills needed to survive in this new world that is very dynamic and full of a significant amount of relationships that impact decision-making. Without acquiring these credentials and skills, earnings potential might be negatively impacted.