is the average salary of an accountant in Texas? //
Texas, with its thriving economy and diverse industries offers a modern environment for finance professionals. Deloitte PwC EY KPMG are the Big Four accounting firms that have a strong presence across Texas’ largest cities. These firms provide Texas accounting professionals with diverse and challenging projects as well as exposure to multinational clients and opportunities for professional growth.
According to the Bureau of Labor Statistics, Texas accountants will earn an average salary of $87.300 per year by May 2022. Texas’ accountants earn slightly more than the national average of $86,740. However, the low cost of living in the state allows them to enjoy a higher level of purchasing power.
Even certified Public Accountants (CPAs), who are in many states, earn less than accountants and auditors in Texas. An accountant’s salary can be increased by a graduate degree, a professional certification or an industry award. This guide will help you learn how much an accountant can earn in Texas.
Accountants and Auditors in Texas
87,300 $ Salary Average, May 2022
Source: BLS
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Salary according to Experience
The average salary of an accountant in Texas increases with experience. These professionals may receive higher salaries as they develop their skills in tax accountancy and forensic accounts.
Employers usually pay more to experienced professionals than to entry-level workers. Over time, employers reward their employees for good performance by offering bonuses and other benefits. Earning industry recognition, advanced degrees or professional certifications, along with a salary increase, can benefit experienced accountants.
The following table contains some figures that are based on fewer than fifty respondents.
| Years of Experience | Average Annual Salary |
|---|---|
| Entry-Level ( | $53,820 |
| Early Career (1 to 4 years) | $56,840 |
| Midcareer (5-9 Years) | $62,330 |
| Experienced (10-19 Years) | $68,770 |
| Later Career (20+ Years) | $77,640 |
Source: Payscale
| Years of Experience | Average Annual Salary |
|---|---|
| Entry-Level ( | $54,260 |
| Early Career (1 to 4 years) | $55,600 |
| Midcareer (5-9 Years) | $59,580 |
| Experienced (10-19 Years) | $60,600 |
| Later Career (20+ Years) | $68,780 |
Source: Payscale
| Years of Experience | Average Annual Salary |
|---|---|
| Entry-Level ( | $41,490 |
| Early Career (1 to 4 years) | $52,720 |
| Midcareer (5-9 Years) | $57,740 |
| Experienced (10-19 Years) | $66,260 |
| Later Career (20+ Years) | $65,010 |
Source: Payscale
CPA vs. Accountant salary in Texas
Accounting degrees alone can give you a solid base of knowledge on accounting principles, taxation and financial analysis. The CPA certification is a significant factor in determining an accountant’s career and salary.
CPAs perform corporate audits, and they represent companies in front of the IRS. Accountants play a daily role in financial management.
| Education Level | Average Annual Salary |
|---|---|
| Accountant | $59,680 |
| Certified Public Accountant | $72,620 |
| Education Level | Average Annual Salary |
|---|---|
| Accountant | $58,390 |
| Certified Public Accountant | $70,610 |
| Education Level | Average Annual Salary |
|---|---|
| Accountant | $55,670 |
| Certified Public Accountant | $70,780 |
CPAs in Texas earn on average more than accountants. To become a CPA, you will need to have a master’s or equivalent degree, as well as pass a standardized test.
A graduate accounting degree or advanced certification can be very beneficial. Payscale states that a person with a Bachelor’s degree in Accounting can earn an average salary of $77,000 per year. A professional with an Master’s degree in Accounting can earn an average salary of $80,000.
Cost of Living in Texas
Texas is one the most affordable places to live. The cost of living is calculated by comparing the price of essentials in a particular area to the national average. Low cost of living means that your accountant salary will cover more monthly expenses.
World Population Review rates each state’s average cost of living against a 100-point index. Texas scored 92.1 out of 100 and is below the median national score. Texas is not all the same price. Some major cities, such as Dallas or Austin, may be more expensive than smaller places like El Paso.
Texas Job Availability
| Job Availability | Texas |
|---|---|
| 2020 Employment | 111,900 |
| Average annual openings | 12,990 |
| The Employment Projections for 2030 | 134,480 |
| Employment Growth Projected for 2020-30 | 22,580 (+20.2%) |
Source: Projections Central
Texas is one of the most populous states and has a diverse economy. Its companies span many industries including manufacturing, energy, healthcare, technology and finance.
Accounting professionals are often needed to perform financial management, tax compliance and auditing tasks, among others. These industries’ employment trends help determine the number of accountants and auditors Texas is able to employ.
Texas will likely hire thousands of accountants within the next few years. Professionals with experience and certification may be able to find work quickly in Texas.
The article What is the average salary of an accountant in Texas? first appeared on Accounting.com.
