is the salary of an accountant in Ohio? //
Ohio is the home of accounting associations, schools and consultancy services. All four of the Big Four accounting companies — Deloitte PwC EY and KPMG – have offices in Ohio.
The U.S. The Bureau of Labor Statistics (BLS), reports that accountants and auditors from Ohio will earn an average annual salary of $77.760 in 2022, lower than the national average salary of $86,740 for this profession. Ohio’s lower cost-of-living may allow these salaries to have a higher purchasing power.
Earning a degree or professional certifications, such as becoming a Certified Public Accountant can increase the salary of an Ohio accountant. This guide will help you find out how much an Ohio accountant can earn.
Accountants and auditors in Ohio
Salary Average for 2022 $77.760
Source: BLS
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Salary based on Experience
A more experienced accountant will earn a higher wage than someone who is new to the profession. This rise in salary over time is due to the specialized knowledge and skills of more experienced accountants, such as Auditing Financial Analysis Tax Accounting and Forensic Accounting.
A professional with experience is more likely to be offered a higher-paying management or leadership role in an accounting or finance firm. Employers often reward excellent performance with bonuses, raises in pay, and other financial benefits. Accounting professionals can boost their incomes by earning professional certifications, obtaining a master’s or winning industry-recognized awards.
Below are tables that show salary progression based on experience for several major Ohio cities. Although occasional dips appear in average compensation as experience increases, this is usually due to inadequate datasets.
| Years of Experience | Average Annual Salary |
|---|---|
| Entry-Level ( | $52,610 |
| Early Career (1 to 4 years) | $53,520 |
| Mid-career (5-9 Years) | $52,800 |
| Experienced (10-19 Years) | $54,630 |
| Later Career (20+ Years) | $62,990 |
Source: Payscale
| Years of Experience | Average Annual Salary |
|---|---|
| Entry-Level ( | $46,650 |
| Early Career (1 to 4 years) | $50,770 |
| Mid-career (5-9 Years) | $54,100 |
| Experienced (10-19 Years) | $62,000 |
| Later Career (20+ Years) | $70,000 |
Source: Payscale
| Years of Experience | Average Annual Salary |
|---|---|
| Entry-Level ( | $44,490 |
| Early Career (1 to 4 years) | $50,790 |
| Midcareer (5-9 Years) | $59,020 |
| Experienced (10-19 Years) | $52,420 |
| Later Career (20+ Years) | $70,000 |
Source: Payscale
CPA vs. Accountant salary in Ohio
A Bachelor’s Degree in Accounting is a great foundation for a finance career. You may also need to earn CPA licensing in order to advance your career as an accountant.
Both professions require basic skills in accounting but accountants are not able to perform the same duties. CPAs are accountants who have earned the professional designation needed to practice a variety of accounting. The chart below shows how a CPA’s license can increase the average salary of accountants in Ohio.
| Profession | Average Annual Salary |
|---|---|
| Accountant | $54,510 |
| Certified Public Accountant | $69,920 |
| Profession | Average Annual Salary |
|---|---|
| Accountant | $53,830 |
| Certified Public Accountant | $70,030 |
| Profession | Average Annual Salary |
|---|---|
| Accountant | $53,130 |
| Certified Public Accountant | $73,050 |
CPAs in Ohio earn higher average salaries than general accountants. The road to becoming a CPA can be long. Accountants must earn 150 college credits — 30 more than the typical bachelor’s — and pass the Uniform CPA Examination to qualify for this designation.
Payscale data from June 2023 shows that workers with a bachelor’s in accounting earn an average of $77,000 per year. Workers with an MBA in accounting earn a href=”https://www.payscale.com/research/US/Degree=Master_of_Business_Administration_(MBA)%2C_Accounting/Salary” rel=”noopener” target=”_blank”>an average of $80,000 per year. Payscale data shows that workers with a Bachelor’s degree in accounting have an average annual income of $77,000, while those with an MBA earn an average of $80,000.
Cost of Living in Ohio
The World Population Review index shows that Ohio has a lower cost of living than the average. The index compares the cost of living in each state to an average score of 100. World Population Review’s metrics place Ohio at 94. It is slightly more expensive than Kentucky, but cheaper than Minnesota. Cincinnati and Dayton are more expensive than areas with less population, such as Youngstown and Lima.
A low cost of living allows accountants to earn more money than in states with higher costs.
Ohio Job Availability
| Job Availability | New York |
|---|---|
| 2020 Employment | 50,540 |
| Average annual openings | 4,750 |
| The Employment Projections for 2030 | 52,980 |
| Employment Growth Projected for 2020-30 | 2,440 |
Source: Projections Central
Ohio’s growth rate for accountants and auditors is 4.8%, which is below the national average. This trend will continue from 2020 through 2030. This trend may be explained by several factors: according to a study conducted by the Greater Ohio Policy Center the state’s workforce shrank by 91,000 in the same period.
Accounting professionals in rural Ohio may not have the same opportunities as those in major metropolitan areas like Columbus.
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