One of the main reasons people choose to become accountants is career stability. Another reason is, of course, money.
As of 2018, the US Bureau of Labor determined that the average salary of an accountant is $33.89 per hour, or $70,500 a year. There are low-paying accountant jobs and high-paying ones, and salaries vary by industry. The following are some of the industries with high-paying accountant jobs.
Film, TV, and Video
The median salary for an accountant in a major movie studio is $74,300. One of the tasks you might find yourself doing if you get the position is tallying the results for the Oscars. Of course, you have to be working for Pricewaterhouse Coopers to have a chance at becoming an accountant for the prestigious awards body. You also get to rub elbows with Hollywood actors and producers.
If you like cars, landing an accountant position at a major automobile brand would be great. The median salary for an accountant at a car manufacturer is $75,310 per year. The car companies that are said to pay accountants well include Ford, Toyota, and Porsche. Another company accountants are eyeing is Tesla.
Pest Control Services
The exterminator makes a pretty penny, and so do their accountants. With a median salary of $79,000, accountants that do the balance sheets can rake in a lot of money in this industry. According to these statistics, there are 27,410 pest control businesses in the U.S., and their combined revenue in 2019 amounted to $16 billion. There’s money in squashing bugs and getting rid of critters, after all.
Oil and Gas
The median salary for an accountant at an oil and gas company is $68,300 a year. But if an accountant in this industry has his revenue accounting fundamentals for oil and gas down pat, he can make over $108,000 a year. The salary for this industry may seem low at first glance, but working at an oil and gas company offers other perks. Many companies here offer stock options and give bonuses to top CPAs.
Working for the government as an accountant has its perks. The median salary for a CPA employed by the federal government is slightly over $89,000 a year. You can find work for a variety of government agencies, from the postal service to the FBI, or even the IRS.
Independent Artists and Performers
Successful Hollywood actors and singers have an army of people they hire, from lawyers and nutritionists to fitness experts, writers, choreographers, personal shoppers, and certainly their own accountants. You can contract your accountancy services exclusively, or put up your own practice and service several celebrity clients. The median salary for CPAs who service high-value celebrity clients is about $78,800 a year. It may not seem like much, but it’s steady work, affords the opportunity to interact with rich and famous people, and can be the coolest occupation ever.
The salary for an average accountant is around $54,000 a year, but that’s only if you get hired in an industry or a company that’s not making much money. The key to earning well as a CPA is to enter a profitable industry, get high-value clients, or use your experience and put up your own practice.