Accounting Salaries in North Carolina

Finding accurate data on accountant salaries in North Carolina can be challenging.

This article provides a comprehensive overview of accountant pay in North Carolina, including key factors impacting compensation and strategies to maximize earnings.

You'll see median salaries for accountants at all levels, from entry-level to CFO, as well as how pay varies by location, credentials, experience, industry, and company size.

Introduction to Accounting Salaries in North Carolina

Accounting is a stable and lucrative career path in North Carolina. As a business hub on the East Coast with a low cost of living, North Carolina offers competitive salaries for accounting professionals at all levels. This article will provide an overview of accounting salaries in North Carolina and what impacts compensation.

Understanding the Tar Heel Accounting Landscape

North Carolina has a thriving business community spanning banking, technology, pharmaceuticals, and research. Top employers like Bank of America and Wells Fargo have major accounting operations located in the state.

There are over 26,000 accountants employed in North Carolina. Key industry associations like the North Carolina Association of CPAs (NCACPA) and the Institute of Management Accountants (IMA) have state chapters supporting the accounting profession.

The Research Triangle in Raleigh-Durham-Chapel Hill has emerged as a hub for accounting and finance, with many corporate headquarters basing operations in the area. Charlotte is also a major financial center.

Accounting Salaries Overview: From Entry-Level to Senior Positions

According to the Bureau of Labor Statistics, the average salary for an accountant in North Carolina is $77,920 annually. Entry-level positions start around $45,000, while senior-level accountants can make over $100k.

CPAs tend to earn more - averaging $80,930 in NC. Controllers and auditors also command higher accounting salaries. Location also impacts pay, with accountants in Charlotte and Raleigh earning more than in other metro areas.

Experience level, credentials like the CPA license, specialized skills in areas like analytics or taxation, company size, and type of accounting role all impact salary levels for North Carolina accountants. Overall, a stable job market and business growth makes it an ideal environment for accountants.

What is the median salary for an accountant in North Carolina?

The median annual salary for an accountant in North Carolina is $67,382, which equates to an hourly wage of $32. Here is a breakdown of accountant salaries across the state:

The top earners in accounting (75th percentile) make around $86,336 annually or $42 hourly in North Carolina. Factors like years of experience, certifications, specializations, and employer can impact salaries significantly.

For example, a CPA usually commands a higher salary than an entry-level accountant or bookkeeper without a CPA license. Specializations like forensic accounting or controllership roles also tend to pay more than general accounting positions.

Major employers of accountants in North Carolina include:

So while $67,382 represents the overall median salary for accountants, there is a wide range based on exact job title, experience, credentials, specialization, and employer. Those looking to maximize salaries can focus on obtaining CPA licensure, specializing, and working for major national/multinational companies.

What branch of accounting makes the most money?

The highest paying accounting careers typically require professional certifications beyond a bachelor's degree. According to the context provided, the top 5 highest paying accounting careers are:

In summary, accounting careers with professional certifications, higher level job titles, and managerial responsibilities tend to offer the highest pay. Developing specialized, in-demand financial skills allows accountants to command the top salaries.

What is the highest paid accounting position?

The highest paid accounting positions are typically senior leadership roles that require extensive experience and expertise. According to salary data, some of the highest paying accounting jobs include:

The highest salaries go to those with extensive experience (10+ years) and advanced certifications like a CPA license or Master's degree. Geographic location also impacts pay, with major metro areas and financial hub cities offering the top salaries.

How much does an accounting associate earn in Raleigh NC?

Accounting associates in Raleigh earn a competitive salary compared to other major cities in North Carolina.

Here is a breakdown of average accounting associate salaries in key North Carolina cities:

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As you can see, Raleigh accounting associates earn slightly higher wages than their counterparts in Charlotte, Gastonia, and Wilmington. The average annual salary for an accounting associate in Raleigh is $50,509, which works out to $24.28 per hour.

This competitive salary makes Raleigh an attractive location for accounting professionals looking to launch or further their career while enjoying a reasonable cost of living. The city's position as a business and technology hub also leads to strong demand for qualified accountants and bookkeepers.

While salaries are important, it's also worth considering work-life balance, opportunities for advancement, and corporate culture when evaluating job offers as an accounting associate. Raleigh companies like Cisco, Red Hat, and Bandwidth are known for strong accounting teams and solid benefits.

The Foundations of Accountant Compensation in NC

Accounting salaries in North Carolina can vary significantly depending on location, credentials, experience, company size, and industry. Understanding these key factors provides helpful context around accountant compensation across the Tar Heel state.

Geographical Variations: Accountant Salary Charlotte, NC vs. CPA Salary Raleigh, NC

Accounting salaries tend to be higher in North Carolina's larger metro areas compared to rural parts of the state. For example:

Charlotte: As the largest city in North Carolina and a major financial hub, accounting salaries are significantly higher in Charlotte. The demand for accountants in financial services, banking, and large corporations drives up compensation levels.
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Raleigh: Known for its growing tech and government sectors, Raleigh also offers competitive salaries for accountants, particularly those with experience and specialized certifications.
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Durham: As part of the Research Triangle area, Durham sees higher-than-average salaries due to its thriving tech and healthcare industries.
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Wilmington: Although smaller than Charlotte or Raleigh, Wilmington offers relatively high salaries for accountants, especially in its growing real estate and finance sectors.
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Greensboro: This city offers good salaries, though slightly lower compared to larger metro areas like Charlotte and Raleigh, due to its focus on manufacturing and regional businesses.

So accountants working in finance hubs like Charlotte and Raleigh can expect to earn 12-16% higher salaries than their rural counterparts. This geographical discrepancy is likely driven by the presence of larger corporations and greater demand for accounting skills in metro regions.

Credentials and Experience: CPA Salary North Carolina

Earning the Certified Public Accountant (CPA) credential can significantly boost accountant salaries in North Carolina. So the CPA license brings an average bump in base salary of 30% across all experience levels in North Carolina.

On top of credentials, salaries also rise steadily with years on the job.

So both obtaining credentials like a CPA and gaining years in the field lead to significant salary growth for accountants.

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Salary Trajectory of an Accountant in North Carolina

From Entry-Level Accountant Salary NC to Senior Accountant Salary North Carolina

Entry-level accountants in North Carolina typically start with salaries around $45,000 to $55,000 per year. With 1-3 years of experience, accountants can expect to earn $55,000 to $65,000 annually.

As accountants gain more specialized expertise and advance to mid-level roles, salaries increase to the range of $65,000 to $85,000. Staff accountant positions often fall into this experience level.

Once accountants reach the senior level, usually with 5+ years under their belt, pay jumps up to $75,000 to $95,000 on average. Some senior accountants make six-figure incomes exceeding $100k.

Career Advancements: The Path to Becoming a Senior Accountant

There are a few common ways accountants can progress to higher salaries over their careers:

Reaching the Apex: From Senior Accountant to CFO

The pinnacle role for accountants is Chief Financial Officer (CFO). While it takes years to work up to, CFO salaries range from $150k to over $300k on average.

Controllers, Finance VPs, and other finance executives can also reach this high level. They oversee strategy and lead multiple teams of accountants and analysts.

The path to CFO typically requires an MBA, CPA, and ultimately a move into FP&A to gain general management skills before taking the top finance spot.

Strategies for Maximizing Take-home Pay in Accounting

How to Negotiate Your Salary: Leveraging Market Data

When negotiating your salary as an accountant, it's important to leverage market data to support your request. Research accounting salaries in your geographic area using resources like the Bureau of Labor Statistics, Salary.com, Glassdoor, and Payscale. Understand the average pay range for your role, years of experience, and credentials. Use this data to showcase your value and justify a higher salary. For example, if the market rate for a Senior Accountant with 5 years experience and a CPA is $75,000 in Raleigh, NC, but you're only making $65,000, highlight that discrepancy to argue for a raise. Market research gives you credibility and a benchmark for reasonable compensation expectations grounded in facts.

How to Ask for a Raise: Timing and Performance Metrics

The best time to ask for a raise is on the heels of a strong performance review, during annual salary adjustment discussions, or after taking on more responsibilities. Prepare by gathering metrics and examples that demonstrate your contributions - increased revenue or productivity, process improvements, accuracy rates, etc. A raise request 1-2 months before annual bonus payouts or promotions also tends to be better received. Avoid asking during times of company financial struggles or leadership changes. Take a collaborative approach by asking what milestones would justify a pay increase, then track progress against those goals. Time your request strategically for the highest probability of buy-in.

Understanding Pay Equity and Compensation Benefits

Pay equity laws prohibit discrimination and mandate equal pay for equal work. Understanding your rights regarding fair compensation, regardless of gender, race or other factors is key. For example, if a male colleague in an equivalent role is earning more, you may have grounds to address that gap. Beyond base salary, know your entire compensation package - healthcare premiums, retirement contributions, tuition reimbursement, wellness perks and other benefits add value. If a raise isn't possible, explore negotiating extra vacation days, flextime policies or remote work options to enhance your overall package. Evaluating total rewards beyond just take-home pay provides additional negotiating levers.

Practical Tools for Accounting Professionals

Accounting professionals in North Carolina have access to practical tools and resources to assess and compare salaries. Understanding your market value is key to career advancement and satisfaction.

Utilizing Salary Calculators: View Average Salary for United States

Salary calculators from reputable sources provide valuable benchmarking to see if your compensation aligns with broader trends. For example, the Bureau of Labor Statistics reports the average annual salary for an accountant in the US is $77,250. However, salaries can vary significantly by location, experience level, firm size, industry, and other factors. When using salary estimators, be sure to filter for specifics like "Accountant Salary in Raleigh, NC" or "Senior Tax Accountant Salary in Charlotte, NC."

By inputting your particulars, these tools can indicate if you fall below, in line with, or above comparable roles. If below, it may be time to update your resume and explore new opportunities. If on par or above, you can leverage that insight when negotiating raises or promotions.

Assessing Cost of Living: View Cost of Living in North Carolina

While salaries provide useful comparison, one must also weigh expenses like housing, transportation, utilities, groceries, and healthcare to determine actual take-home pay. For example, an accountant earning $60,000 in rural North Carolina may enjoy greater buying power than a $90,000 salary in a major metro.

Cost of living calculators measure these factors to quantify how regional differences impact real wages. As some areas become more expensive, while salaries stagnate, individuals experience an effective pay cut over time. Monitoring cost of living helps accountants contextualize their compensation and make informed career moves between regions.

In summary, salary and cost of living estimators enable accounting professionals to benchmark their pay, demonstrate their value, and maximize earning potential. When paired with negotiation tactics, these practical tools strengthen one's overall financial position.

The Future of Accountant Salaries in North Carolina

The accounting field in North Carolina remains a promising career path with solid earning potential. With industry demand expected to grow, accountants can look forward to expanding opportunities and salary advancements, particularly for those who invest in professional development and specialization.

Contact us today to find a remote accountant for your North Carolina business!

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