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Start Hiring For FreeMost financial professionals would agree that understanding compensation is crucial when evaluating career options.
This article promises to clearly outline the standard salary ranges, benefits, and growth prospects for audit managers working in financial auditing.
You'll see a breakdown of how factors like industry, firm size, location, and experience level impact earnings potential. We'll also explore typical benefits like retirement matching, performance bonuses, and work-life balance policies. By the end, you'll have a solid grasp of the audit audit managers career trajectory and whether it aligns with your financial goals.
This section provides an overview of the blog post's goals, which is to uncover audit managers salaries and compensation details.
An audit associate is an entry-level position on the audit team at an accounting firm. The main responsibilities of an audit associate include:
Typical requirements to become an audit managers include:
Many audit managers have passed the CPA exam or are working towards certification. Previous internship experience in auditing is also preferred by most firms when hiring audit managers.
According to PayScale data, the average base salary for an audit managers in the United States is $55,274 per year. With bonuses and profit sharing, total compensation averages $59,774 annually.
More specifically, audit managers with 1-4 years of experience earn between $48,000 and $62,500 in base salary. Their total compensation ranges from $51,500 to $66,500.
Senior audit managers with 4-9 years of experience make between $55,000 and $80,000 in base pay. Their total compensation is $58,500 to $85,000.
These national averages provide a benchmark. Actual salaries vary based on factors like location, firm size, industry specialization, and individual performance.
Audit managers salaries can vary significantly depending on the industry, firm size and type, and geographic location. Here's a breakdown of how these key factors impact compensation:
Average audit managers salaries do differ across industries. According to Robert Half's 2022 Salary Guide, base pay for an audit manager at a U.S. accounting firm breaks down as:
Financial services tends to be on the lower end while fast-growing industries like tech and healthcare pay more due to high demand.
The size and type of accounting firm also impacts audit managers salaries:
The largest, most prestigious firms offer higher compensation to attract top talent out of college. Smaller firms pay less but may offer better work-life balance.
Where you live also significantly sways pay as an audit managers. According to Payscale, average salaries for audit managersin major U.S. cities are:
Major metropolitan cities like NYC and San Francisco pay more due to their high costs of living. Secondary markets like Atlanta tend to offer lower salaries.
In summary, many variables impact audit managers pay, especially industry, firm type/size, and location. Understanding these factors can help you negotiate the best possible compensation package.
As audit managers at larger firms, you can expect competitive benefits packages that include:
As an audit managers gains more experience and expertise, there are clear career advancement opportunities to more senior roles with corresponding salary increases.
After about 2-3 years as an audit managers, promotion to senior associate is common. This role involves taking on more complex audits, supervising more junior staff, reviewing workpapers, and interfacing more with clients. The timeline can vary based on performance.
The average salary for a senior audit managersis approximately $65,000 to $85,000 per year. This represents a sizable jump from the audit associate level.
After 5+ years total in auditing, promotion to an audit manager role is typical for strong performers. Audit managers oversee entire audit engagements and teams, coordinate with partners, and work directly with client executives.
Average audit manager salaries range from $90,000 to $120,000 annually. This role comes with substantially more responsibility as well as compensation growth.
For those interested in further career advancement, the next level is senior audit manager. This requires 8-10+ years of auditing experience as well as expertise in project leadership and client relations.
Senior audit managers earn $110,000 to $150,000 on average. They take on the most complex audits and high-level firm initiatives. This represents the apex of the career ladder before consideration for audit partner.
Audit managers salaries can vary significantly depending on factors like:
In summary, a typical audit managers salary ranges from $45,000 to $75,000, with Big Four firms in major cities at the higher end. There is strong earning potential over time and opportunity to advance to manager roles earning $100k+ after 5-7 years.
Key takeaways:
With rising salary expectations across the U.S., businesses are increasingly exploring alternative hiring strategies to maintain competitiveness. One solution gaining traction is hiring highly qualified audit manager from Latin America (LATAM) through remote staffing agencies.
Hiring a full-time audit manager in the U.S. comes with a significant financial burden. While the average annual salary for an accountanting role varies by state, often exceeding $70,000–$85,000 per year, not including benefits, payroll taxes, and overhead costs. In contrast, remote staffing from LATAM—who are experienced in U.S. audit manager standards and fluent in English—can be hired for 40% to 60% less while delivering the same level of expertise.
For example, a company paying $80,000 for a local hire could secure equivalent talent for $30,000 to $40,000 annually through a remote staffing agency. Additionally, working with a staffing agency eliminates the complexities of international payroll, compliance, and recruitment, streamlining the hiring process.
While cost savings are a major driver, businesses are also turning to remote hiring for its additional advantages:
As businesses navigate the challenges of attracting top audit manager talent in an increasingly competitive market, remote hiring through a staffing agency presents a viable, cost-effective alternative. By leveraging global talent, companies can optimize their workforce without sacrificing quality or efficiency.
Considering adding remote talent to your team? Exploring staffing solutions could be the next step in building a high-performing, cost-efficient auditing department.
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