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:
- Top 25% Earners: $71,300 per year ($34 per hour)
- Average Salary: $67,382 per year ($32 per hour)
- Bottom 25% Earners: $48,600 per year ($23 per hour)
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:
- Banking & Finance: Wells Fargo, Bank of America, Credit Suisse
- Professional Services: PwC, EY, Deloitte
- Healthcare: Atrium Health, Novant Health
- Technology & Manufacturing sector companies
- State and local government agencies
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:
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Financial Controller - Financial controllers oversee the financial operations of a company. They manage accounting departments and ensure financial reports are accurate and completed on time. This role offers high earning potential but also requires substantial education and experience.
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CMA (Certified Management Accountant) - CMAs perform essential financial analysis services for companies. They advise senior management on financial strategy and support data-driven business decisions. Obtaining the CMA certification provides increased job opportunities and earning potential.
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Chartered Accountant - Also known as CPAs in the US, chartered accountants provide tax, audit, and consulting services. They must meet strict certification requirements involving extensive exams, education, and work experience. The effort pays off with abundant job opportunities and lucrative salaries.
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Bank Branch Manager - Bank branch managers oversee daily operations and staff at bank locations. Strong sales and customer service abilities are required for this fast-paced role. Performance-based compensation allows high performers to earn over $100k.
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CGA (Certified General Accountant) - CGAs perform the essential functions of recording, analyzing, and communicating financial information for organizations. Earning the certification opens doors to higher level accounting and finance positions.
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:
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CFO: The Chief Financial Officer is the highest ranking financial executive at a company. CFO salaries range from $141,000 to $400,000 per year on average.
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Audit Partner: Audit partners manage teams that perform financial statement audits. They earn $215,000 to $360,000 per year on average.
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Chief Accounting Officer: The CAO oversees all accounting operations and financial reporting activities. Average pay is $131,000 to $278,000 annually.
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Vice President of Finance: Finance VPs direct financial planning and analysis, accounting, budgeting, and more. Compensation averages $150,000 to $300,000 per year.
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Fund Controller: Fund controllers supervise accounting and reporting for investment funds. Salaries range from $100,000 to $350,000 on average.
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:
| City | Annual Salary | Hourly Wage |
|---|---|---|
| Raleigh | $50,509 | $24.28 |
| Gastonia | $50,170 | $24.12 |
| Charlotte | $49,999 | $24.04 |
| Wilmington | $49,948 | $24.01 |
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.
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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:
- The average salary for an accountant in Charlotte is $68,930 per year.
- In Raleigh, the average annual salary for an accountant is $66,460.
- This compares to an average of just $59,010 in non-metro parts of North Carolina.
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:
- Entry-level CPAs earn $55,000 a year on average, 21% more than non-CPA accountants at $45,460.
- Experienced CPAs with 6-10 years under their belt make $79,930, 39% higher than non-CPA accountants with the same experience.
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. For example:
- Entry-level accountants with <1 year of experience earn $45,460.
- Early career accountants with 1-4 years make $51,460, 13% more.
- Mid-career accountants with 5-9 years take home $63,010, a 28% jump.
- And experienced accountants with 10-20 years top out at $79,460, representing a cumulative rise of 75%.
So both obtaining credentials like a CPA and gaining years in the field lead to significant salary growth for accountants.
Industry and Company Size: Wells Fargo to Atrium Health Accountant Salaries
Accounting salaries can also swing widely depending on industry and company size. For example:
- At large national banks like Wells Fargo or Bank of America, the average base salary for an accountant is $77,000.
- Accountants working in accounting firms like PwC or EY average closer to $62,000.
- Those at healthcare providers such as Atrium Health make around $70,000.
- And accountants in state government earn approximately $50,000.
So industry plays a major role, with finance and technology companies typically paying the highest accounting salaries in North Carolina.
Similarly, those working at large corporations earn more on average than those at small businesses or nonprofits:
- Accountants at firms with 500-5,000 employees average $73,000.
- The mean salary drops to $63,000 at mid-sized companies of 100-500 employees.
- And it declines further to $55,000 at organizations with less than 100 employees.
So company scale is a key driver of compensation as well, with larger corporations having the budgets to offer higher accounting salaries.
Understanding this salary landscape helps accountants benchmark their earnings and maximize their lifetime compensation. Whether looking for higher pay today or charting a long-term career trajectory, these foundations indicate where to find the most lucrative accounting roles across the Tar Heel State.
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:
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Getting Promoted: Rising up the ranks from entry-level to senior accountant within one organization leads to significantly higher pay. Each promotion comes with a 10-20% raise.
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Switching Companies: Changing jobs between companies is another way to boost salaries. Accountants with 3-5 years experience who switch jobs could see pay increases of $10k or more.
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Specializing: Developing expertise in areas like audit, tax, FP&A, or controllership leads to higher salaries. For example, CPAs tend to earn 10-15% more than non-certified accountants.
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Relocating: Accountants who move to finance hubs like Charlotte and Raleigh from other NC cities can also expand their earning potential.
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.
Conclusion: The Tar Heel Tally of Take-home Tidings
Recap major points on accounting salaries in North Carolina and projected trends in accountant pay.
Summarizing Accountant Salaries in North Carolina
While specific pay differs across industries and metros, NC accountant salaries are competitive.
- Entry-level accountants in NC earn an average of $50,000 per year
- The statewide average is $65,000 for staff accountants
- Senior accountants average around $85,000 annually
- CPAs tend to earn 20-30% higher salaries than non-certified accountants
Salaries also vary by location, with larger metros paying more:
- Raleigh average: $72,000
- Charlotte average: $70,000
- Asheville average: $62,000
The Last Word on CPA and Accountant Salaries
Veteran accountants and those with certifications typically earn substantially more than entry level.
- Experience plays a major role - each year can boost salary by $3,000+
- Obtaining a CPA license can increase pay by $10,000+
- Specializations like audit or tax add another $5,000+ on average
While accounting salaries in NC are already competitive, growth potential over a career is significant through promotions, certifications, and developing expertise.
