The Top Paying Accounting Jobs of 2020
Accounting is one of the most high-tech, cutting edge professions today (yes we’ve come a long way since those pocket protector days). Up until recently, prior to the Covid-19 pandemic, there weren’t enough accounting professionals to fill open vacancies and public accounting firms were struggling with a lack of college grads to induct into their firms.
Accounting is the language of business. Nothing happens in a company without going through accounting in some way. Accounting professionals are the individuals who make sure the money of corporations, governments, non-profits, and individuals is used in the best way and that means as long as there is money - accounting professionals will be vital to every business, government, and individual.
We’ve ranked the top paying accounting jobs using our 2020 salary surveys of professionals living in Southern California, and compiled that with recruitment data from postings and job offers.
Chief Financial Officer (CFO)
Median Salary: $219,200
The CFO is one of the highest levels of authority in an organization, often second to the Chief Executive Officer (CEO). This individual directs long-term financial goals and budgets, ensures compliance with financial reporting, oversees treasury functions, and may oversee other functional areas such as IT and HR. Traditionally these individuals often held a CPA license, but more and more companies are starting to prefer MBA’s over a CPA.
Tax Director
Median Salary: $190,800
A tax director creates and implements strategic tax plans for a company. This individual may prepare and file tax documents and returns along with addressing any tax errors and issues that arise. A tax director could oversee payroll and income tax. Traditionally, these individuals typically have several years of public accounting experience before transitioning to private industry, but it is not a necessity.
Director of Internal Audit
Median Salary: $172,800
The Director of Internal Audit is responsible for preparing and implementing risk-based plans to assess, report on, and make suggestions to improve an organization’s key operational and finance activities and internal controls. This individual may also be responsible for IT audits and cyber risk controls. The main responsibility of a Director of Internal Audit is to provide independent assurance that an organization’s risk management, governance, and internal control processes are operating effectively.
Controller
Median Salary: $148,050
The Controller manager accounting records and is responsible fro the production of financial reports. This individual oversees all employees involved in accounting, often including accounts payable, accounts receivable, payroll, inventory, and financial reporting. Unlike a CFO, a Controller typically focuses on compliance and historical record keeping while a CFO focuses on planning and future performance. Depending on the size of an organization, both CFO and Controller duties may fall into a single job description.
Director of Finance
Median Salary: $137,460
The Finance Director analyzes department budgets, ensures actions are within legal requirements, monitors cash flow, and typically reports to a CFO. This individual helps establish financial strategy for profitable long-term growth and often combines elements of operations, accounting, and strategy.
So why would you leave your career up to chance?
Cost Accounting Manager
Median Salary: $115,300
The Cost Accounting Manager usually supervises a department of Cost Accountants and support staff. This individual is primarily concerned with collecting accounting data related to assets and liabilities gained and incurred by various departments within the company. Cost Accounting analyzes cost expenditures such as inventory and other purchases to make recommendations about cost-efficient and financially feasible cost options.
Assistant Controller
Median Salary: $114,030
The Assistant Controller reports to the Controller and is typically responsible for directing the procedures of the accounting department. This individual may prepare consolidated financial statements, assist in establishing internal controls, manage all aspects of the general ledger, and provide regular monthly, quarterly, and annual analyses.
Senior Financial Analyst
Median Salary: $102,000
The Senior Financial Analyst performs a variety of tasks including budgeting, forecasting, building financial models, building KPI dashboards, assisting with financial planning, and performing research on accounting and operational data to assist management decision making.
Accounting Manager
Median Salary: $98,400
The Accounting Manager oversees daily operations of the accounting department. This individual monitors and analyzes data to produce financial statements and management reports. In addition, establishing and enforcing policies and procedures and GAAP typically is part of their duties. While a Controller typically supervises all staff within the accounting department, an Accounting Manager usually oversees a group of accountants within a specific branch within accounting, supervising a function such as accounts payable, accounts receivable, payroll, fixed assets, etc.
Senior Cost Accountant
Median Salary: $91,300
The Senior Cost Accountant usually provides leadership and mentorship to other staff members within a cost accounting department. This individual is primarily concerned with collecting accounting data related to assets and liabilities gained and incurred by various departments within the company. Cost Accounting analyzes cost expenditures such as inventory and other purchases to make recommendations about cost-efficient and financially feasible cost options.