What is the salary and pay for an accountant?
(Note: Please note that salaries can differ significantly based on industry, experience, and company policies. The above figures are based on estimates taken from glassdoor.co.uk)
The salaries for accounting professionals can be quite variable depending upon the exact specifics of the role, the experience requirements, and the sector. The average salaries shown here might seem on the lower side but part of that is attributable to the fact that there are very large numbers of entry-level accounting jobs in almost every company. This makes working with average salaries difficult as there is a downward bias because of the large representation from those entry-level jobs.
Looking at medium level experience jobs only, the numbers become much more representative. Accountants should normally expect to earn between EUR 30,000 to EUR 80,000 at most European companies.
In terms of specific industries – financial services, accounting firms, the Big4 consulting firms, and large Fortune 500 companies are the ones that offer the most lucrative pay packages. In addition to a fixed component, there is also a variable component based on performance.
(Note: Please note that salaries can differ significantly based on industry, experience and company policies. The above figures are based on estimates taken from glassdoor.co.uk.)
Accountants should expect to get the most lucrative pay packages when working in major business centres and capitals across Europe. Salaries tend to be higher where large companies have their headquarters. Cities like London, Paris, and Frankfurt are the ones that generally top the list. However, when it comes to finance and accounting related jobs, cities in countries like Switzerland, Luxembourg, and Austria offer the highest pay packages. The salary averages are the highest in these countries, although the highest individual packages are still being offered for roles located in cities like London.
Salary packages for accounting jobs are modest for entry-level roles, but the potential for growth is high. Accounting professionals looking to really increase their worth should consider formal certifications. Having a formal accounting certification can double or triple the average salary package for accountants in less than a decade.
In addition to a higher salary, certified accounting professionals also have more options in terms of the roles that they can apply to. They are not just limited to working in the accounting departments of regular companies but can also find employment in accounting firms or tax consultancies where their pay packages can easily be north of EUR 100,000.
Such roles obviously require a lot of accounting experience and tax/ regulatory knowledge, but it can be a worthwhile investment in the medium to long term.
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