Top 10 Careers In Accounting With The Highest Pay

Looking for a career in accounting? Let’s help you find the best one. 
The global value of services related to accounting brought in $554 billion worldwide. These services range from a wide variety of accounting areas. So, which of these specialties should you go for? Today, we’re exploring the top 10 accounting careers you can opt for. So, let’s dig in.

Why Choose A Career in Accounting?

Accounting is a never-ending industry. There will always be a need for accountants. It is also a respectable working field that offers high-paying jobs and a good job outlook. Besides that, it’s easy to find affordable education options to become an accountant nowadays. So, to sum it up:

• Accounting is an industry that will never run out of jobs
• it’s one of the most respectable jobs; it pays well
• has a good job outlook
• And provides affordable degrees to learn accounting skills.

That’s why choosing a career in accounting will be a vice choice.

Top 10 Careers in Accounting with the Highest Pay

Accountancy has many different types of degrees. Each accounting degree can help you specialize in specific areas of the subject and accounting career path.
That’s why a accountancy career isn’t just one kind. Instead, you can choose to specialize in a variety of accountant types. So, here are the top 10 careers in accounting with the highest pay scale:

1. Forensic Accountants

Forensic accountants is a type of professional accountant who examines financial records to determine whether the financial statements of a company have been manipulated. A forensic accountant has many different roles, including conducting fraud investigations and providing expert testimony in court cases.

• Average median pay: around $78,000 – $81,000 (for a beginner)
• Job outlook/employment rate: 4% over the course of 2020-2030

In most cases, forensic accountants are employed to investigate and analyze financial records, which includes finding out if any illegal activities have taken place. So, who do they work for? Here are a few possible job titles and positions for forensic accountants:

• Forensic accountants work for law firms, government agencies, and corporations that hire them and need to ensure that they are not victims of fraud.
• They also work for insurance companies that want to investigate fraud claims by investigating key accounting aspects such as transactions, over or under estimations, etc.
• Moreover, forensic accountants also work in the financial sector, especially in areas such as fraud prevention departments of large corporations.

Forensic accounts help uncover discrepancies between the financial records and the company’s other documents, such as contracts or invoices. While forensic accountants may be employed by companies that need assistance with their finances, they can also get hired by government agencies to investigate fraud in public organizations.

2. Financial Managers

A financial manager is a person who advises on profit maximization and data analysis and manages finances. You will find that financial managers work mostly in large organizations creating budgets and making sure the money is utilized in an efficient way. Thus, they are mostly the financial decision makers of a company.

• Average median pay: around $95,000 – $186,000 (from least to most experienced)

• Job outlook/employment rate: 7% over the course of 2020-2030

The responsibilities of a financial manager vary from company to company but they usually include:

• Managing the budget

• Planning the future

• Forecasting future results

• Monitoring the financial health of the business

Besides this, a financial manager is responsible for making sure that all transactions are recorded accurately and in a timely manner.

3. CPA Auditors

CPA is a chartered public accountant who has passed the CPA exam and is authorized by the state to practice public accounting. CPA Auditors are accountants who review financial statements and records for accuracy, completeness, and compliance with applicable laws.
CPAs are more specialized in accounting whereas auditors are more generalist in nature. Thus, a CPA auditor’s job is to examine a company’s or individual’s books and prepare financial statements for them. They use their expertise in accounting to examine the records of a company or individual for conformity and compliance with local law.
So, how much do they earn?

• Average median pay: around $60,000 – $86,000

• Job outlook/employment rate: 7% over the course of 2020-2030

Therefore, it’s clear to see why it’s considered a lucrative field of work. It pays well, and as the experience increases, so does the salary.

4. Senior/Executive Accountant

Senior or executive accountant is another professional position for an accountant that is always in demand, as accounting departments require leaders to supervise everyday operations. And this professional is, and will usually be in charge of the management of accounts and sales proposals and they might also handle aspects such as the company’s revenue.

• Average median pay: around $86,000 – $91,000
• Job outlook/employment rate: 6% over the course of 2020-2030

But what exactly does a senior accountant do? There are a few ways To sum it up and describe their responsibility, as they are responsible for the financial reporting of all aspects of the company including but not limited to:

• Analyzing and interpreting financial data then providing advice on the best way to achieve the company’s goals
• Assisting with the preparation of financial statements and other reports to keep data in check, and aligned with company’s expenditures
• Maintaining accurate records for company accounts and preparing tax returns– including tax reports and analysis

The senior/executive accountant will also be in charge of managing all other accountants and providing them with any necessary training, and they will also have to ensure that all financial reports are accurate and up-to-date.

5. Financial Analyst

Financial analysts are professionals who research, analyze and scrutinize the finances of a company. They are responsible for allocating funds to different departments of an organization. They also make sure that the expenditure of an organization is within limits.
Here’s what you need to know about this designation:

• Job outlook/employment rate: As of this writing, steady 9% growth until 2031.
• Average median pay: the average median pay ranges from $83,000-85,000, with the top %75 earning above $112,000+.

A financial analyst will be a key designation in the future for any business. They undertake research on investment opportunities and analyze financial statements to identify trends in the market. They also scrutinize expenses to make sure that they do not exceed budgeted limits. And, financial analysts work with accounting specialists and accountants for this purpose.

6. Corporate Accountant/Bookkeeper

Corporate staff accountants are usually responsible for the financial records of a company. They are in charge of balancing the books, preparing financial statements, and maintaining the accounting system. As of this writing, there are 49,000+ openings for corporate accountants in the U.S

• Average median pay: around $60,000 – $80,000
• Job outlook/employment rate: 6.9% over the course of 2020-2030

Since they are responsible for all transactions that take place within a company, this designation is particularly important for businesses of all scales because they have to balance all accounts and maintain financial records.
Moreover, accounting clerks work closely with bookkeepers and corporate accountants to make sure all transactions are recorded accurately.

7. Credit Supervisor

Credit supervisors are responsible for making sure that cardholders are paying their bills on time and in full. They can be on the individual and organizational levels. Some credit supervisors work as freelancers, moving from organization to organization, or individual to individual. Here’s what you need to know about them:

• Average median pay: around $58,000 – $79,000

• Job outlook/employment rate: 16% over the course of 2018-2028

Credit supervisors can also help with credit collections, which is the process of getting delinquent cardholders to make good on their balances. Credit supervisors supervise the credit process to make sure that they are meeting all the requirements set by the government and other regulatory agencies.

8. Certified General Accountant (GA)

The CGA designation is a globally recognized certification for accountants. It is a professional qualification that can be obtained by passing the pertaining examination in the United States and other countries and meeting the requirements of the state licensing boards.

• Average median pay: around $74,000 – 107,000 (depending on experience)

• Job outlook/employment rate: 4% over the course of 2019-2029

A certified general accountant (CGA) is an accountant who has met certain education and experience requirements to become licensed as such in USA/Canada. Compared to a CPA, this accountancy certificate doesn’t necessarily require an accounting degree—as you can get this license by earning an accountancy diploma.

9. Certified Management Accountant (CMA)

Certified management accountants are qualified to make sound financial decisions and plan for the future. They have a deep understanding of financial concepts, accounting principles, and business processes.

• Average median pay: around $86,000 – 107,000 (depending on experience)

• Job outlook/employment rate: 4% over the course of 2019-2029

A CMA is responsible for a variety of planning and finance management activities. These professionals are responsible for analyzing the current financial scenario of a company and devising financial plans.

10. Financial Controller

A financial controller is a key member of a company’s management team and has access to all of its books and records. The job requires strong analytical skills and an understanding of accounting practices. The controller reviews the budget and reports to senior management on any deviations from the plan.

• Average median pay: around $89,000 – 129,000 (depending on experience)
• Job outlook/employment rate: 17% over the course of 2021-2031

The financial controller is the one who manages all of a company’s financial operations. This includes the everyday financial analysis of funds, risk analysis, investments, as well as bookkeeping, and the more specialized ones, including company financial historian.

Conclusion

These are some of the highest-paying accounting jobs that are in demand nowadays. All of these jobs depend on specific expertise. That’s why it’s important to select the right accounting degree in your particular state or city. So, regardless of which accounting career path you choose out of these 10, proper educational background is a necessity.

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