How much do senior accountants make a year?

Senior accountants, in 2021, make an average salary of $88,800 a year, or $44.40 per hour. There is a reported range between $46,000 to $185,000, depending on the company's size, work history, education, and location.

How much longer does it take to become a senior accountant?

To become a senior accountant takes 3-6 years working at a firm. In time you can rise the ranks to the senior accountant level, where you will have a wider range of responsibilities, taking ownership of your duties, possibly overseeing staff accountants.

Is a senior accountant a CPA?

A senior accountant is not necessarily a Certified Public Accountant (CPA). Most small businesses do not need audited or reviewed financial statements, but larger companies do, and for this, you will need certification. If you want to earn more as an accountant, CPAs get paid 10-15% higher.

What are the requirements for senior accountant?

Senior accountants are required to have a bachelor's degree in accounting or a related field. Some companies may require a graduate degree. Senior accountants typically have more than three years of general accounting experience in a public or private firm.

What is the difference between an accountant and a senior accountant?

The difference between accounts and senior accountants relates to the level of responsibility. Senior accountants take ownership of reporting costs, productivity, and analysis for the companies they work for. Senior accountants are more likely overseeing the junior staff, leading a team of auditors, for example.

Why is accounting so hard?

Accounting is so hard because it involves a lot of math. However, if you are great with numbers and don't mind the repetitive nature of accounting formulas, it is probably not too difficult.

What is a senior accountant and how to become one

Updated June 25, 2024

6 min read

Quoted Experts

Stephen Moehrle Ph.D.,

Octavian Ionici PhD

A senior accountant ensures the accuracy and compliance of financial records and reports for an organization. They analyze and interpret financial data to provide insights for decision-making and budget planning. Senior accountants also supervise and train junior staff, as well as collaborate with other departments to ensure financial goals are met. They may also be responsible for preparing tax returns, managing audits, and creating financial statements.

What general advice would you give to a Senior Accountant?

Stephen Moehrle Ph.D.

Professor and Chairman of Accounting, University of Missouri - St. Louis

It was a great time to be entering the accounting industry, before the pandemic. Our students were serving in internships in huge numbers and our graduates were enjoying 100% placement, usually with multiple offers. The entry-level professionals were entering a profession marked by emerging and evolving technologies that made even the entry-level duties especially interesting. Further, our tech-comfortable young professionals were experiencing quick advancement because of their ability to employ the new technologies.

Most of the above remains true so the only open question is job availability. It would be unrealistic to say things are great. However, it seems that job prospects for accounting majors will be better than for those of virtually every other entry-level profession during difficult times. I have been speaking with firm leaders across the spectrum of firms and most do intend to be on campus in the fall recruiting season. Of course, they have a lot of time to learn more about the economy over the next few months, but we are cautiously optimistic. Again, I am confident that whatever the state of job availability for young CPAs-to-be, prospects will be better for accounting graduates than virtually any other profession.

They will be entering the profession at a fascinating moment in time. Of course, the technological advances assure this regardless of economic conditions. However, there are business disruption-related issues that will provide rich opportunities for making a difference. For example, audit staff will be working with clients to see them through these troubling times. Lamentably, I fear that these young professionals will learn more about the going concern determination than they desire to know. Tax staff will help clients to optimally use the tax loss carrybacks and carryforwards that are arising by the day. Entry level professionals in corporate accounting will get a day-to-day front row seat in business management through crisis. While lamentable times, these are times when young professionals can make a difference that saves jobs.

How long does it takes to become a senior accountant?

It typically takes 6-8 years to become a senior accountant:

Years 1-4: Obtaining a Bachelor's degree in a relevant field, such as accounting, finance, or business.
Years 5-6: Accumulating the necessary work experience in accounting, auditing, or financial management.
Years 7-8: Completing on-site or on-the-job training, typically lasting 3-6 months and 1-3 months respectively.

ScoreSenior AccountantUS Average

Salary

5.6

Avg. Salary $71,967

Avg. Salary $59,228

Stability Level

5.4

Growth Rate 6%

Growth Rate 0.3%

Diversity

6.3

Race

American Indian and Alaska Native 0.46%

Asian 14.45%

Black or African American 8.51%

Hispanic or Latino 10.84%

Unknown 3.96%

White 61.79%

Gender

female 53.08%

male 46.92%

Age - 43

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 43

Stress Level

5.4

Stress level is manageable

7.1 - high

Complexity Level

8.6

Complexity Level is advanced

7 - challenging

Work Life Balance

6.7

Work Life balance is good

6.4 - fair

What are the pros and cons of being a Senior Accountant?

Pros

High salary
Job stability
Prestige associated with the profession
High demand
Potential for flexible work arrangements

Cons

Long hours and tight deadlines
Limited creativity in job duties
Potential for burnout or fatigue
Risk of making errors that could have financial consequences
Constant updates to tax laws and regulations can be challenging to keep up with

Senior Accountant career paths

Senior accountants often move up to roles like accounting manager or controller. They may also take on specialized positions like senior accounting manager, regional controller, or tax manager. Other options include assistant controller, division controller, or managing specific areas like finance, cost accounting, or human resources.

Key steps to become a senior accountant

Explore senior accountant education requirements

The educational requirements for a senior accountant are typically a bachelor's degree in accounting, business, finance, economics, or management. According to Alex Yen Ph.D., Associate Professor of Accounting at Stonehill College, "The ability to work with 'big data' is highly valued by CPA firms these days." This highlights the importance of data analysis skills in the field of accounting.

In addition to a bachelor's degree, senior accountants often pursue certifications such as Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Chartered Global Management Accountant (CGMA) to enhance their professional credibility. Qian Song Ph.D., Associate Professor of Accounting at Rochester Institute of Technology, suggests that "Certifications in data analytics and other technological skills are expected to have the biggest impact on future job prospects." Therefore, aspiring senior accountants should consider gaining proficiency in data analytics tools and software.

Most common senior accountant degrees

Bachelor's

77.6 %

Master's

13.9 %

Associate

6.5 %

Start to develop specific senior accountant skills

A senior accountant needs a diverse set of skills. They should be able to analyze data and communicate results effectively. Proficiency in coding and statistical modeling is also crucial. According to Octavian Ionici PhD, Sr. Lecturer in Finance at American University, "Graduates should do their research about the organization they are interviewing with and be able to discuss how their skills can contribute to the business." They should also be able to articulate what sparked their interest in the financial field and why they are interested in a chosen role.

Skills	Percentages
Reconciliations	12.66%
CPA	8.08%
GAAP	7.42%
External Auditors	4.11%
Internal Controls	3.63%

Complete relevant senior accountant training and internships

Accountants spend an average of 1-3 months on post-employment, on-the-job training. New senior accountants learn the skills and techniques required for their job and employer during this time. The chart below shows how long it takes to gain competency as a senior accountant based on U.S. Bureau of Labor Statistics data and data from real senior accountant resumes.

Gain additional senior accountant certifications

Senior accountant certifications can show employers you have a baseline of knowledge expected for the position. Certifications can also make you a more competitive candidate. Even if employers don't require a specific senior accountant certification, having one may help you stand out relative to other applicants.

The most common certifications for senior accountants include Certified Public Accountant (CPA) and Certified Management Accountant (CMA).

More About Certifications

Research senior accountant duties and responsibilities

A senior accountant is responsible for a variety of financial tasks. They ensure the accuracy of financial statements, perform variance analysis, and maintain fixed assets. They also assist in audits, manage cash flow, and review internal controls. As Thomas King, Department Chair and Professor of Accountancy at Case Western Reserve University, puts it, "A newly hired professional who demonstrates the ability to get things done rapidly and accurately will soon become a 'go-to' person when new opportunities arise."

Manage complex pricing structure and maintain SalesForce CRM funnel for forecasting accuracy.
Prepare internal financial reports for treasury manage accounts include in external compliance reports.
Manage the review, enhancement, and creation of department policy and procedure documentation require for Sarbanes-Oxley auditing and compliance.
Compile and analyze financial information to prepare monthly accruals, payroll journal, general journal and bank reconciliations.

Get senior accountant experience

Generally, it takes 2-4 years to become a senior accountant. The most common roles before becoming a senior accountant include staff accountant, accountant team lead and accounting manager.

Prepare your senior accountant resume

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