Finding accurate data on accounting salaries can be challenging, especially when looking at specific states like Idaho.
In this article, we'll explore accounting salaries across various roles in Idaho, providing in-depth compensation analyses to empower negotiations.
You'll see a breakdown of pay ranges for entry-level to executive positions, understand how factors like location and experience impact earnings, and learn key strategies to leverage when negotiating your salary as an Idaho accountant.
Introduction to Accounting Salaries in Idaho
Accounting is a stable and essential career path in Idaho. As a business-friendly state with low taxes and regulation, Idaho offers accountants diverse opportunities across industries like agriculture, food processing, technology, and tourism. This section provides an overview of key factors impacting accounting salaries and jobs.
Idaho's Economy and Job Market: A Primer for Accountants
Idaho's low cost of living and pro-business policies make it attractive for companies. Key industries like agriculture and food processing depend on accountants to manage finances and ensure compliance. However, wages are below national averages.
The Idaho Department of Labor projects over 500 annual openings for accountants and auditors through 2026. Most jobs are concentrated around Boise, but opportunities exist statewide. Competition is lower than the national average. Still, certification and specialized expertise can boost hiring potential.
Regional differences impact salaries:
- Boise Metro: The state's biggest job market offers accountants the highest pay, but also a higher cost of living.
- Northern Idaho: Lower salaries but most affordable housing. Tourism and food processing drive hiring.
- Eastern Idaho: Home to Idaho National Laboratory. Wages are moderate and housing costs low.
Overall, Idaho salaries typically range 10-15% below national medians according to Payscale. But lower taxes and costs offset the difference.
Understanding the Range of Accounting Roles in Idaho
Common accounting jobs in Idaho include:
- Staff Accountants: Support day-to-day accounting operations, financial reporting, and analysis.
- Public Accountants: Audit financial statements and provide tax prep and advisory services.
- Management Accountants: Partner with executives on budgeting, cost management, and strategy.
- Government Accountants: Maintain records and provide oversight of public funds.
Salaries range based on role, experience, credentials, company size, and industry. But Idaho's low cost of living gives accountants solid purchasing power.
How much do staff accountants make in Boise Idaho?
Staff accountants in Boise earn competitive salaries, with the average coming in around $64,175 per year or $31 per hour. However, salaries can vary significantly depending on experience and qualifications.
Here's a breakdown of common staff accountant salary ranges in Boise:
- Top Earners (75th Percentile) - $69,000 per year or $33 per hour
- Average - $64,175 per year or $31 per hour
- Entry-Level (25th Percentile) - $52,300 per year or $25 per hour
Several factors impact staff accountant salaries in the Boise area:
- Experience Level: More seasoned accountants tend to earn higher salaries. New graduates generally start around $50,000, while those with 5+ years of experience can make $70,000+
- CPA Certification: Obtaining a certified public accountant (CPA) license can boost salaries by $5,000 to $10,000+ per year
- Industry: Accountants in lucrative industries like tech, finance, and healthcare tend to earn higher wages
- Company Size: Bigger companies and corporations typically pay more competitive salaries
So while the average Boise accountant makes around $64,000, salaries approaching and exceeding $80,000 are certainly achievable for those with advanced qualifications and specializations. Overall, accounting remains a stable and well-compensated field in Idaho.
How much does an accounting specialist earn in Idaho?
As of Jan 14, 2024, the average hourly pay for an Accounting Specialist in Idaho is $24.05 per hour. While ZipRecruiter reports salaries as high as $33.70 and as low as $13.57, most Accounting Specialist salaries in Idaho currently range between $19.23 (25th percentile) to $26.01 (75th percentile).
Some key points on accounting salaries in Idaho:
- The average annual salary for an Accounting Specialist is $50,024 in Idaho. This breaks down to $24.05 per hour.
- Salaries can vary widely based on location, experience level, education, company size and industry.
- The highest paid Accounting Specialists make around $70,096 per year while the lowest paid make around $28,226.
- Major metro areas like Boise tend to pay higher accounting salaries than rural parts of the state.
- Accounting Specialists with specialized certifications or advanced degrees tend to command higher compensation.
When looking at salaries for accounting roles in Idaho, it's important to factor in the lower cost of living compared to national averages. While accounting salaries may be lower than larger states, day-to-day expenses in Idaho are also more affordable.
Overall the accounting job market remains strong in Idaho, with competitive salaries that go far based on the state's low cost of living index. Those looking to advance their accounting careers would do well to consider openings across this business-friendly state.
What is the highest paid area of accounting?
The highest paid areas of accounting tend to be in corporate finance roles that require specialized expertise. According to salary data, some of the best paying accounting jobs include:
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Accounting Professor: Professors with a PhD can earn an average salary of $77,400 teaching accounting at the university level. This role requires deep subject matter expertise.
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Director of Finance & Administration: These senior finance executives earn an average of $88,900 overseeing the financial and administrative operations of an organization. Extensive leadership ability is required.
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Corporate Controller: With an average salary of $117,000, corporate controllers manage all accounting functions and financial reporting for a company. This is a high level management role.
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Internal Auditing Manager: Overseeing risk management and compliance for an organization, these managers earn $94,000 on average. Advanced auditing skills are vital.
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Investment Banker: Those with accounting backgrounds can move into investment banking roles earning over $250,000 on average. This career path demands technical finance skills.
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Financial Planning & Analysis Manager: FP&A managers develop financial plans and models to inform executive decision making, earning $94,000 on average. Analytical skills are key.
In summary, corporate finance leadership roles, specialized auditing/risk management positions, investment banking, and financial planning/analysis management offer the highest salaries for those with accounting backgrounds. The most lucrative careers require deep technical expertise in a financial subfield.
How much do tax accountants make in Idaho?
Tax accountants in Idaho earn competitive salaries compared to national averages. Here is a breakdown of tax accountant salaries by percentile in Idaho as of December 27, 2023:
| Percentile | Salary | Last Updated |
|---|---|---|
| 25th Percentile Tax Accountant I Salary | $53,364 | December 27, 2023 |
| 50th Percentile Tax Accountant I Salary | $59,277 | December 27, 2023 |
| 75th Percentile Tax Accountant I Salary | $66,121 | December 27, 2023 |
| 90th Percentile Tax Accountant I Salary | $72,351 | December 27, 2023 |
The median tax accountant salary in Idaho is $59,277 as of late 2023. This positions Idaho favorably compared to the national median of $58,370.
With its low cost of living and tax-friendly policies, Idaho remains an attractive destination for accounting professionals. Key factors influencing Idaho salaries include:
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Low Cost of Living: Idaho has a cost of living about 9% below the national average, allowing salaries to stretch further. This applies to essentials like housing, food, utilities, and taxes.
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Economic Growth: Job growth is projected to be over 30% for accountants in Idaho through 2026. Rising demand helps push compensation higher across industries.
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Small Market: The modest population of 1.8 million can limit opportunities for specialization and advancement long-term relative to larger states.
Within Idaho, average accountant salaries also vary by region. Areas like Boise tend to offer higher pay, while rural cities see lower levels. Those looking to maximize salary may need to consider relocating between Idaho cities.
Overall, the combination of economic growth and affordable living makes a career in accounting lucrative in the Gem State. Salaries allow comfortable lifestyles, especially for tax accountants earning above median wage levels.
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Accounting Salaries in Idaho: An In-Depth Analysis
Idaho's economy relies heavily on industries like agriculture, food processing, timber, and tourism. This impacts the accounting job market and salary ranges across the state. Here we'll analyze pay scales for various accounting roles based on location, experience level, and industry.
Entry-Level Accounting Salaries: The Starting Line
For those just entering the accounting field, Idaho offers competitive salaries to attract young talent.
- Entry-level accountants in the Boise area average around $45,000 a year. In rural areas, salaries tend to start around $35,000.
- Recent grads can boost pay by specializing in high-demand fields like payroll, accounts payable, or auditing. For example, entry-level payroll accountants in Boise start around $48,000.
- Larger companies and public accounting firms offer the highest starting wages. For example, the Big Four accounting firms pay entry-level auditors about $55,000 in Idaho.
Overall, those new to the accounting world can expect to earn $35,000 - $55,000 depending on location, company size, specialty, and other factors.
Mid-Career Accountant Compensation Planning
With 3-5 years of experience under their belts, accountants see larger pay jumps in Idaho.
- The average staff accountant with this level of experience makes approximately $60,000 in Boise, and $50,000 in smaller towns.
- Specialists like payroll managers average around $70,000 in the Boise area.
- Accountants working in large corporations or public accounting firms continue to earn the highest salaries. For example, a mid-career audit manager at a Big Four firm can make $90,000+ in Idaho.
In summary, mid-career accountants in Idaho can expect to earn $50,000 - $90,000 on average depending on their specialty, location, firm size, and industry.
Senior Accountant and Payroll Manager Salaries
For accounting professionals in senior or management roles, Idaho offers high earning potential:
- A controller at a large Idaho company averages approximately $120,000 a year.
- An experienced payroll and banking manager at a corporation can make around $100,000 annually.
- A payroll compliance manager at a public accounting firm earns $85,000 on average.
In short, senior accountants and managers in Idaho tend to make between $85,000 - $120,000 on average. Those working in specialized roles at large firms or public companies sit at the higher end of that pay scale.
Executive-Level Payroll and Benefit Manager Compensation
At the executive level, accounting salaries reach over $150,000 for roles like:
- A Chief Financial Officer (CFO) at a mid-sized Idaho business can earn around $170,000 per year.
- A Vice President of Payroll and Benefits at a large corporation averages approximately $160,000 annually.
In summary, top-level accounting executives at Idaho companies can make $150,000+ on average, with CFOs and VPs earning the highest wages.
Idaho's accounting pay scales vary based on role, experience, specialization, location, company size, and industry. But overall the state offers strong compensation growth opportunities across all career levels.
Specialized Accounting Roles and Their Salaries in Idaho
Exploring the compensation for niche accounting roles within Idaho's diverse job market.
Payroll Accountant: The Financial Orchestrator's Pay
We'll review the salary expectations for payroll accountants in various sectors across Idaho.
The average salary for a payroll accountant in Idaho is $55,000 per year. However, salaries can range from $45,000 for entry-level roles to over $70,000 for senior payroll accountants with 5+ years of experience.
Key factors that impact payroll accountant salaries in Idaho include:
- Industry - Payroll accountants in the finance and insurance industry typically earn 10-15% higher pay than those in other sectors.
- Location - Payroll accountants in Boise and other urban areas command slightly higher salaries due to the increased cost of living. Rural areas offer lower salaries.
- Qualifications - CPAs or those with advanced certifications can increase earning potential.
For example, a payroll accountant with 3 years experience could expect to earn approximately:
- $50,000 in Pocatello
- $60,000 in Boise
- $65,000 at a commercial bank
The table below summarizes average payroll accountant salaries by common job titles:
| Job Title | Average Salary |
|---|---|
| Payroll Accountant | $55,000 |
| Senior Payroll Accountant | $65,000 |
| Payroll Manager | $75,000 |
Overall, competitive salaries and steady demand for payroll professionals make this niche accounting role attractive for those looking to enter Idaho's job market.
Earnings of a Payroll Compliance Manager in Idaho
Focusing on the specialized role of payroll compliance managers, we'll analyze the compensation trends in Idaho.
Payroll compliance managers in Idaho earn approximately $70,000 per year on average. With 5-7 years of experience, salaries can reach $85,000 annually.
Compliance managers at large corporations and banks typically make 10-15% higher salaries in the range of $80,000 - $95,000 per year.
The main factors impacting Idaho payroll compliance manager salaries include:
- Industry - Banking and tech companies offer premiums of 5-15% over other sectors
- Company Size - Larger firms pay 10-20% more for specialized compliance talent
- Certifications - CPAs and advanced designations can boost salaries
For example, a payroll compliance manager with 5 years experience could expect to earn roughly:
- $75,000 at a 200-person manufacturing company
- $80,000 at a commercial bank
- $90,000 at a Fortune 500 tech firm
The strong demand for compliance expertise and risk management skills makes this a well-compensated critical role within Idaho companies.
The Payroll and Banking Manager: Balancing More Than Just Books
We'll explore the salaries and responsibilities of payroll and banking managers in Idaho's financial landscape.
In Idaho, payroll and banking managers earn approximately $85,000 per year on average. With 8+ years of experience and proven leadership abilities, salaries can surpass $100,000 annually.
These specialized professionals manage end-to-end payroll processing, bank account reconciliations, cash flow analysis, and more. Key responsibilities include:
- Overseeing payroll for 150-300 employees
- Managing relationships with multiple domestic and international banks
- Leading a team of 2-5 payroll and banking staff
- Ensuring compliance with IRS, state, and other payroll regulations
Banks and large corporations tend to offer premiums of 10-20% for these managers, with salaries ranging from $95,000 to $120,000 per year.
The table below summarizes the salary differences by sector and experience level:
| Years Experience | Manufacturing | Banking | Tech Company |
|---|---|---|---|
| 3 years | $80,000 | $90,000 | $95,000 |
| 8 years | $90,000 | $110,000 | $115,000 |
The broad financial oversight and specialized skillset make payroll and banking management a lucrative role within Idaho's diverse industry landscape.
Accounts Payable / Payroll Manager: Dual Role, Dual Rewards?
Examining the complex role and associated salaries of those managing both accounts payable and payroll in Idaho businesses.
In Idaho, accounts payable/payroll managers earn approximately $70,000 - $85,000 per year on average. With 7+ years managing both functions, salaries can reach $100,000 annually.
These managers handle a wide range of critical responsibilities including:
- Processing payroll for 75-200 employees
- Managing accounts payable workflows
- Leading teams of 3-7 payroll and AP staff
- Ensuring timely vendor payments
- Maintaining compliance with IRS and state regulations
The table below shows the average salary differences by industry:
| Industry | Average Salary |
|---|---|
| Manufacturing | $75,000 |
| Healthcare | $80,000 |
| Tech | $90,000 |
| Banking/Finance | $95,000 |
The broad scope and specialized skillset required make this dual manager role well-rewarded, especially among Idaho's core industries like tech and finance.
Payroll Specialist vs. Payroll Administrator: A Comparative Salary Study
We'll compare the salaries and duties of payroll specialists and payroll administrators in Idaho's workforce.
In Idaho, payroll specialists earn approximately $45,000 per year while payroll administrators average closer to $55,000 annually.
Payroll Specialists focus on day-to-day payroll processing tasks including:
- Calculating and entering payroll
- Preparing reports
- Responding to inquiries
- Maintaining records
Payroll Administrators handle higher-level responsibilities such as:
- Overseeing payroll workflows
- Managing systems and software
- Ensuring legal and regulatory compliance
- Training team members
Administrators command around a 20% premium for their additional experience and oversight duties. Geographic location and company size can also impact salaries.
For example, a payroll specialist could earn approximately:
- $42,000 in Twin Falls
- $48,000 in Boise
While a payroll administrator may make:
- $52,000 at a small 100-person company
- $60,000 at a larger 500-person organization
In summary, both payroll specialists and administrators play a critical support role. Administrators earn moderately higher salaries in exchange for increased responsibilities and leadership of payroll workflows.
Factors Influencing Accounting Salaries in Idaho
Accounting salaries in Idaho can vary significantly depending on factors like location, industry, experience level, credentials, and more. Here we analyze the key elements that impact accountant pay across the state.
Navigating Pay Equity and Compensation Planning in Idaho
Ensuring fair and equitable salaries for accounting professionals is crucial, but can be complex to navigate. Some effective strategies include:
- Regularly benchmarking against industry and location averages
- Basing pay on clear, objective factors like credentials and experience level
- Conducting periodic pay equity analyses to identify and address disparities
- Maintaining open communication around compensation structure and planning
Well-designed compensation planning enables organizations to balance labor costs, retain top talent, and uphold strong pay equity standards.
The Cost of Living in Pocatello, Idaho and Its Effect on Accounting Salaries
The cost of living in Idaho can fluctuate dramatically between high-cost areas like Boise and lower-cost regions like Pocatello. For example, overall cost of living is over 15% cheaper in Pocatello compared to Boise. This means accounting salaries may be lower in Pocatello to maintain purchasing power parity:
- Average Accountant Salary in Boise, ID: $55,000
- Average Accountant Salary in Pocatello, ID: $47,000
However, experienced professionals or those in specialized roles may still command competitive salaries regardless of location.
Industry Variance: Agricultural vs. Tech Sector Accounting Salaries
Salaries also differ significantly across industries. Idaho's key sectors include agriculture, tourism, technology, and more. Industry growth and profit margins impact what organizations can pay:
- Agricultural Accountant Average: $52,000
- Tech Company Accountant Average: $68,000
So tech and other high-growth industries likely enable higher accounting salaries.
The Experience Equation: How Tenure Translates to Dollars
As accountants gain more expertise and responsibility over time, their salaries rise accordingly. While starting salaries average around $45,000, this can swiftly increase with each year of experience:
- 1-3 years experience: $48,000
- 3-5 years experience: $55,000
- 5-10 years experience: $67,000
- 10+ years experience: $78,000
So seasoned accounting professionals have strong salary growth potential in Idaho.
The Future of Accounting Salaries in Idaho
Finally, we will look at future trends for accounting salaries and jobs based on Idaho's economic direction and growth forecasts across sectors.
Accounting Job Growth Projections in the Gem State
This sub-section will provide salary and job growth projections for accounting roles over the next 5-10 years as Idaho's economy develops.
- The Bureau of Labor Statistics projects 7% growth for accounting and auditing positions in Idaho between 2020-2030, adding over 1,100 new jobs. This aligns with national projections.
- Strong growth is expected in the healthcare, finance, insurance, and technology sectors - all major employers of accountants. This will drive demand.
- Idaho's business-friendly policies and low taxes may attract more corporate offices, creating accounting jobs. Its natural resources also provide economic opportunities.
- However, automation could disrupt ~30% of accounting tasks, slowing job growth unless accountants reskill in technologies like AI and advanced analytics.
Technological Advancements: The AI Impact on Accounting Salaries
We will analyze how emerging technologies like automation and AI could impact future accounting job landscapes and salaries.
- As accounting software and AI matures, routine tasks like AP/AR, payroll, reporting, and auditing will be automated. This may moderate salary growth.
- However, accountants who upskill into AI, advanced analytics, and advisory roles could see major salary growth in the 18-27% range according to one estimate. Their strategic guidance will be in high demand.
- Idaho's investments into high tech could create new fintech sector jobs also demanding these forward-looking accountant skill sets.
- In summary, automation may polarize accounting salaries - with advisors at the top and clerks at median or below. Reskilling will be key for Idaho accountants to stay competitive.
Conclusion: Summarizing Idaho's Accounting Salary Landscape
In this final section, we'll recap the key points presented throughout the article, offering a clear summary of accounting salaries in Idaho.
Key Takeaways on Accounting Compensation in Idaho
- The average salary for an accountant in Idaho is $55,000 per year. This is slightly below the national average.
- Payroll managers earn the highest salaries at around $85,000 annually.
- Accountants in the Boise metropolitan area tend to have higher pay compared to other regions.
- Factors like experience level, firm size, and credentials impact accountant salaries.
Strategic Salary Negotiations for Idaho Accountants
When negotiating compensation or asking for a raise, Idaho accountants should:
- Highlight their specialized expertise in areas like payroll compliance or systems implementation. Specialization often commands higher pay.
- Emphasize achievements that saved money or drove growth for past employers. Impact on the bottom line can give negotating power.
- Research typical salaries using resources like the Bureau of Labor Statistics. Knowledge reduces information asymmetry.
- Consider factors like cost of living and amenities when comparing job offers between regions.
Following these tips can help Idaho accounting professionals advance their careers and maximize pay over time.
