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How Are Public Accounting Salaries Stacking Up for 2019?

Posted on by Jason Bramwell

It’s the end of August, which means Starbucks is already slinging pumpkin spice lattes, Oktoberfest and pumpkin beers are now on the shelves of your favorite bottle shop, the college football season is about to kick off, and Robert Half and Accounting Principals have released their latest salary guides for accounting and finance professionals.

Both staffing companies’ 2019 salary guides feature a bevy of salary data for industry accounting and financial services positions, among others, but today we’re going to be focusing on public accounting jobs.

In their 2019 Accounting and Finance Salary Guide, the folks at Bob Half reported starting pay ranges by percentile, and there are four:

  • 25th: Newbies still developing their skills.
  • 50th: Average experience for a position with average complexity.
  • 75th: Strong skill set, above-average experience, may have specialized certifications, role is fairly complex.
  • 95th: Significant experience and expertise, including specialized certifications, for very complex position.

Salary figures represent the national averages. Bonuses, benefits, and other forms of compensation aren’t factored into the starting salary ranges, according to the guide.

Salary ranges are based on the thousands of placements RH has made, as well as the actual salaries firms are paying, the guide states.

In this screenshot, we’ve boxed in red the public accounting positions and starting salary ranges included in RH’s salary guide (a job with an “a” means bonuses and incentives are common but not included in the salary figures):

Unlike Bob’s salary guide, Accounting Principals’ 2019 Salary Guide for Accounting & Finance Professionals features salaries and total cash compensation figures. The data in the guide is broken into three categories:

  • Average base salary by company size (small, medium, and large)
  • Base salary (low, high, and average)
  • Total cash compensation (low, high, and average)

The figures in the salary guide are based on national averages compiled through Accounting Principals’ partnership with CareerBliss, a career and recruiting website.

Here’s a screenshot of the public accounting section of Accounting Principals’ salary guide:

If you’re a capital market servant who’s looking for a new job, discuss the salary trends that you’re seeing in your search. Good luck to those of you who are currently on the hunt.

Image: iStock/Rawpixel

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PwC Reject Wants to Know If Making Another Run at the Firm Is a Good Idea

Welcome to the Hump Day edition of Accounting Career Couch (or as Adrienne puts it, “advice from a bunch of asshole accountants”). Today we have a PwC reject who is going back for round two. Does previous rejection mean that P. Dubs has its mind up about how big of a loser you are? Maybe!

Feeling rejected and looking job soon? Unhappy at your current firm who doesn’t provide any training to turn the frown upside down? Need some advice on to get your co-workers to loosen up? Email us at [email protected] and we’ll make everyone happy.

Returning to our glutton for punishment:

Dear Going Concern:

I interviewed earlier this year for a full time tax position with PwC. I made it to the final round and was given an office tour, lunch, 3 interviews and all that good stuff. Unfortunately, I did not receive an offer.

It is now the fall on campus recruiting season and again I am applying for a full time tax position with PwC. The lead recruiter already knows me from the recruiting process earlier this year. I’ve managed to speak with him once already at an on campus event and will see him at a career fair again next week. My question is can the fact that I’ve been rejected earlier this year hurt me in my attempt to get another interview and hopefully a full time offer. I plan on asking the recruiter this question next week but I get the feeling he will tell me that it’s okay and it won’t hurt me in anyway. However, being the cynical and skeptical person that I am, I need some perspective.

Dear Cynical and Skeptical,

Dealing with rejection, eh? Lots of that going around today. Unlike the Democrats, you have done nothing wrong. You made it to the very end and you simply didn’t make the cut. That happens. However, you are taking it in stride (not cursing PwC, blamestorming, etc.) although you are carrying the standard neurosis that comes with said rejection.

Your previous rejection by PwC should not dissuade you from your chances at a job with the firm. For whatever reason unbeknownst to you, the firm passed you over. It’s likely that it was a difficult decision on their part and your interest in the firm will be seen as a positive.

We understand that somewhere in your head, you’re thinking that the firm was just toying with you. Stringing you along, only to crush your Big 4 dreams at the last minute. The only scenario we can foresee where this would be a reality is if a recruiter/partner had the hots for you and eventually their belief in your “talents” were overruled. Fortunately, the odds of this being reality are slim.

So make another run at P. Dubs, reiterating your interest in the firm, reminding them why you’ll be a kick-ass associate and what you’ve done in the last few months that will get them hot for you all over again. Taking the “You made a biggest mistake of your life” is probably not the way to go, but a subtle hint at why you are everything they want and more may get them to see the error of their ways.

Can a Small Firm Accountant Make It in the Big Leagues?

Welcome to the sometimes-we-blow-off-Monday’s-column edition of Accounting Career Emergencies. In today’s edition, a small firm accountant is cutting his teeth and is curious about prospects for the future. What’s in store for a young 10-key jockey? I guess we’ll try to find out.

Caught in a career conundrum? Think you’re about to lose it on one of your co-workers and need an outlet? Curious as to where lamé falls on the dress code? Email us at [email protected] and we’ll tell you what not to wear.

Meanwhile back at the Mom & Pop shop:

Howdy!

I just started as a staff accountant and I’m gradually getting the hang of what I’m doing. I work for a small firm and I am pretty much doing the audits start to finish from preparing the financial statements to sending letters to management as well as going through all the programs. So far it’s been 2.5 months and I’m going to take the classes needed to sit for the CPA. I’m definitely thankful to be here but knowing future options are nice as well. Here are my questions:

What is an estimated learning curve?

What are my possibilities as far as moving to a larger firms or going to the private sector?

Should I stay until I am qualified to sit for the CPA or does one or two years of experience hold any weight with the private sector or other firms?

I have gained a general idea from your other articles but wanted some specific feed back for me.

Thanks!

Newbie

Dear Newbie,

As is typical of the emails we receive, you’re thinking about the future. That’s all fine and dandy but at 2.5 months of work you can barely open a three-ring binder without injuring yourself or endangering those around you. That said, I’ll answer your questions because I’m solid like that.

First the learning curve. – This varies as some new accountants are genuine whiz kids while others have trouble turning on their laptops. In general, you should have a pretty good idea of what you’re doing after 12 months or so. Your second year as an associate will be a breeze compared to your first and if you work at a firm where three years are required for promotion, you’ll really become a junior spreadsheet rockstar. When you reach senior associate level, your life will change significantly and you’ll starting learning all over again. It will occur again as you ascend to manager and partner. That’s your life in public accounting in a beanshell.

Secondly, your prospects for moving to a larger firm or to an in-house position are good, as long as you’ve demonstrated that you’re a performer and a team player. At 2.5 months on the job you haven’t really had the chance to put your abilities on display so you have to be patient. Get a year or two of experience under your belt and take a look back on your accomplishments so you can best explain to prospective employers why you’ll be a worthy addition to their team.

Thirdly, it’s my personal opinion that you should finish your CPA before moving to another firm or company. Having a CPA will demonstrate your commitment to finishing something valuable for your career and will do wonders for your salary prospects when you’re ready to make a move. The choice between a CPA and a non-CPA is an easy one for HR managers.

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