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Forensic accountant hiring summary. Here are some key points about hiring forensic accountants in the United States:
Here's a step-by-step forensic accountant hiring guide:
Working close together with law enforcement agencies, a forensic accountant specializes in investigating potential fraud and financial crimes. Their responsibilities typically include performing extensive research and analysis, gathering and analyzing various forms of financial data and storage, reviewing and validating documents, verifying information, and conducting internal and external financial audits. Most of the time, a forensic accountant presents research findings to lawyers and judges as evidence, which will require them to participate and testify in court proceedings.
First, determine the employments status of the forensic accountant you need to hire. Certain forensic accountant roles might require a full-time employee, whereas others can be done by part-time workers or contractors.
You should also consider the ideal background you'd like them a forensic accountant to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a forensic accountant that fits the bill.
This list presents forensic accountant salaries for various positions.
| Type of Forensic Accountant | Description | Hourly rate |
|---|---|---|
| Forensic Accountant | Accountants and auditors prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time... Show more | $21-48 |
| Accountant/Consultant | Accountants/consultants perform accounting tasks for organizations or companies. The accountants improve accounting practices and prepare financial statements at the end of every year... Show more | $22-41 |
| Accountant Internship | An accounting intern is responsible for assisting an organization's accounting department, observing practical applications and processes, and performing accounting duties under the supervision of tenured accounting staff. Accounting interns support the accounting operations by preparing and organizing financial reports, helping with accounts reconciliation, researching financial and stock market trends, utilizing various accounting software, and managing feedback from their mentors... Show more | $11-21 |
Including a salary range in your forensic accountant job description helps attract top candidates to the position. A forensic accountant salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.
For example, the average salary for a forensic accountant in South Carolina may be lower than in Rhode Island, and an entry-level forensic accountant usually earns less than a senior-level forensic accountant. Additionally, a forensic accountant with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.
| Rank | State | Avg. salary | Hourly rate |
|---|---|---|---|
| 1 | District of Columbia | $112,634 | $54 |
| 2 | Rhode Island | $93,542 | $45 |
| 3 | New Hampshire | $87,066 | $42 |
| 4 | Massachusetts | $86,353 | $42 |
| 5 | New York | $85,332 | $41 |
| 6 | Delaware | $81,285 | $39 |
| 7 | Maryland | $81,159 | $39 |
| 8 | Virginia | $81,063 | $39 |
| 9 | California | $80,717 | $39 |
| 10 | Georgia | $80,686 | $39 |
| 11 | Illinois | $75,750 | $36 |
| 12 | Texas | $75,431 | $36 |
| 13 | Nevada | $74,322 | $36 |
| 14 | Connecticut | $72,770 | $35 |
| 15 | Ohio | $70,691 | $34 |
| 16 | Pennsylvania | $70,416 | $34 |
| 17 | North Carolina | $69,534 | $33 |
| 18 | Indiana | $67,659 | $33 |
| 19 | Mississippi | $67,571 | $32 |
| 20 | Montana | $65,413 | $31 |
| Rank | Company | Average salary | Hourly rate | Job openings |
|---|---|---|---|---|
| 1 | Berkeley Research Group | $90,047 | $43.29 | 1 |
| 2 | Agilent Technologies | $82,348 | $39.59 | |
| 3 | Meaden & Moore | $80,646 | $38.77 | 9 |
| 4 | SiloSmashers | $78,120 | $37.56 | 2 |
| 5 | Deloitte | $78,041 | $37.52 | 220 |
| 6 | Cohen & Company | $77,159 | $37.10 | 44 |
| 7 | Delta Consulting Group | $75,796 | $36.44 | |
| 8 | Sedgwick LLP | $73,295 | $35.24 | 5 |
| 9 | Federal Bureau of Investigation | $73,058 | $35.12 | |
| 10 | Pacific Architects and Engineers | $69,519 | $33.42 | |
| 11 | Marsh & McLennan Companies | $68,362 | $32.87 | 4 |
| 12 | Alan Gray | $68,309 | $32.84 | |
| 13 | Compass Strategy | $68,309 | $32.84 | |
| 14 | The Independent Traveler | $68,302 | $32.84 | |
| 15 | Hagen, Streiff, Newton & Oshiro | $67,907 | $32.65 | |
| 16 | J.S. Held | $67,464 | $32.43 | |
| 17 | Aon | $66,617 | $32.03 | 7 |
| 18 | Brown & Brown | $66,513 | $31.98 | 3 |
| 19 | The Travelers Companies | $66,482 | $31.96 | |
| 20 | Goodwin Recruiting | $66,188 | $31.82 |
A job description for a forensic accountant role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a forensic accountant job description:
To find forensic accountants for your business, try out a few different recruiting strategies:
Your first interview with forensic accountant candidates should focus on their interest in the role and background experience. As the hiring process goes on, you can learn more about how they'd fit into the company culture in later rounds of interviews.
It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.
The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.
Once you've selected the best forensic accountant candidate for the job, it's time to write an offer letter. In addition to salary, this letter should include details about the benefits and perks you offer the candidate. Ensuring that your offer is competitive is essential, as qualified candidates may be considering other job opportunities. The candidate may wish to negotiate the terms of the offer, and you should be open to discussion. After you reach an agreement, the final step is formalizing the agreement with a contract.
It's equally important to follow up with applicants who don't get the job with an email letting them know that the position has been filled.
After that, you can create an onboarding schedule for a new forensic accountant. Human Resources and the hiring manager should complete Employee Action Forms. Human Resources should also ensure that onboarding paperwork is completed, including I-9s, benefits enrollment, federal and state tax forms, etc., and that new employee files are created.
Recruiting forensic accountants involves both the one-time costs of hiring and the ongoing costs of adding a new employee to your team. Your spending during the hiring process will mostly be on things like promoting the job on job boards, reviewing and interviewing candidates, and onboarding the new hire. Ongoing costs will obviously involve the employee's salary, but also may include things like benefits.
Forensic accountants earn a median yearly salary is $66,833 a year in the US. However, if you're looking to find forensic accountants for hire on a contract or per-project basis, hourly rates typically range between $21 and $48.