Accountants prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. Accountants and auditors assess financial operations and work to help ensure that organizations run efficiently.

In addition to examining and preparing financial documentation, accountants and auditors must explain their findings. This includes preparing written reports and meeting face-to-face with organization managers and individual clients.

Many accountants and auditors specialize, depending on the particular organization that they work for. Some work for organizations that specialize in assurance services (improving the quality or context of information for decisionmakers) or risk management (determining the probability of a misstatement on financial documentation). Other organizations specialize in specific industries, such as healthcare.

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Accountants and auditors prepare and examine financial records. They ensure that financial records are accurate and that taxes are paid properly and on time. Accountants and auditors assess financial operations and work to help ensure that organizations run efficiently.

In addition to examining and preparing financial documentation, accountants and auditors must explain their findings. This includes preparing written reports and meeting face-to-face with organization managers and individual clients.

Many accountants and auditors specialize, depending on the particular organization that they work for. Some work for organizations that specialize in assurance services (improving the quality or context of information for decisionmakers) or risk management (determining the probability of a misstatement on financial documentation). Other organizations specialize in specific industries, such as healthcare.

Recruiter & Staffing Needs

Subscribe to our Newsletter to receive the latest news for your industry.

Job Prospects

Demand for accountants may lead to good prospects for entry-level positions. However, competition will be stronger for jobs with the most prestigious accounting and business firms.

Accountants and auditors who have earned professional recognition, especially as Certified Public Accountants (CPAs), should have the best prospects. Job applicants who have a master’s degree in accounting or a master’s degree in business administration (MBA) with a concentration in accounting also may have an advantage.

Employment projections data for accountants and auditors, 2016-26

Occupational Title	SOC Code	Employment, 2016	Projected Employment, 2026	Change, 2016-26		Employment by Industry
Occupational Title	SOC Code	Employment, 2016	Projected Employment, 2026	Percent	Numeric	Employment by Industry
Accountants and Auditors	13-2011	1,397,700	1,537,600	10	139,900	xlsx

SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program

Employment projections data for accountants and auditors, 2016-26

Occupational Title
Accountants and Auditors
SOC Code
13-2011
Employment, 2016
1,397,700
Projected Employment, 2026
1,537,600
CHANGE, 2016-26
PERCENT
10
NUMERIC
139,900
EMPLOYMENT BY INDUSTRY
xlsx

SOURCE: U.S. Bureau of Labor Statistics, Employment Projections program

Pay

The median annual wage for accountants and auditors was $69,350 in May 2017. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $43,020, and the highest 10 percent earned more than $122,220.

In May 2017, the median annual wages for accountants and auditors in the top industries in which they worked were as follows:

Finance and insurance	$74,140
Management of companies and enterprises	$72,160
Accounting, tax preparation, bookkeeping, and payroll services	$69,410
Government	$67,100

Most accountants and auditors work full time. In 2016, about 1 in 5 worked more than 40 hours per week. Longer hours are typical at certain times of the year, such as at the end of the budget year or during tax season.

Accountants and Auditors

Median annual wages, May 2017

Financial specialists $70,120

Accountants and auditors $69,350

Total, all occupations $37,690

Note: All Occupations includes all occupations in the U.S. Economy.
Source: U.S. Bureau of Labor Statistics, Occupational Employment Statistics

Job Outlook

Employment of accountants and auditors is projected to grow 10 percent from 2016 to 2026, faster than the average for all occupations. Globalization, a growing economy, and a complex tax and regulatory environment are expected to continue to lead to strong demand for accountants and auditors.

In general, employment growth of accountants and auditors is expected to be closely tied to the health of the overall economy. As the economy grows, these workers will continue to be needed to prepare and examine financial records. In addition, as more companies go public, there will be greater need for public accountants to handle the legally required financial documentation.

The continued globalization of business may lead to increased demand for accounting expertise and services related to international trade and international mergers and acquisitions.

Technological change is expected to affect the role of accountants over the next 10 years. As platforms such as cloud computing become more widespread, some routine accounting tasks may become automated. Although this will allow accountants to become more efficient, this change is not expected to reduce the overall demand for accountants. Instead, with the automation of routine tasks, such as data entry, the advisory and analytical duties of accountants will become more prominent.

Accountants and Auditors

Percent change in employment, projected 2016-26

Accountants and auditors 10%

Financial specialists 10%

Total, all occupations 7%

Note: All Occupations includes all occupations in the U.S. Economy.
Source: U.S. Bureau of Labor Statistics, Occupational Employment Statistics

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OCCUPATIONAL TITLE

Bookkeeping, Accounting, and Auditing Clerks
JOB DUTIES
Bookkeeping, accounting, and auditing clerks produce financial records for organizations. They record financial transactions, update statements, and check financial records for accuracy.
ENTRY-LEVEL EDUCATION
Some College, no Degree
2017 MEDIAN PAY
$39,240

OCCUPATIONAL TITLE
Budget Analysts
JOB DUTIES
Budget analysts help public and private institutions organize their finances. They prepare budget reports and monitor institutional spending.
ENTRY-LEVEL EDUCATION
Bachelor's Degree
2017 MEDIAN PAY
$75,240

OCCUPATIONAL TITLE
Cost Estimators
JOB DUTIES
Cost estimators collect and analyze data in order to estimate the time, money, materials, and labor required to manufacture a product, construct a building, or provide a service. They generally specialize in a particular product or industry.
ENTRY-LEVEL EDUCATION
Bachelor's Degree
2017 MEDIAN PAY
$63,110

OCCUPATIONAL TITLE
Financial Analysts
JOB DUTIES
Financial analysts provide guidance to businesses and individuals making investment decisions. They assess the performance of stocks, bonds, and other types of investments.
ENTRY-LEVEL EDUCATION
Bachelor's Degree
2017 MEDIAN PAY
$84,300

OCCUPATIONAL TITLE
Financial Managers
JOB DUTIES
Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.
ENTRY-LEVEL EDUCATION
Bachelor's Degree
2017 MEDIAN PAY
$125,080

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JOB DUTIES
Management analysts, often called management consultants, propose ways to improve an organization’s efficiency. They advise managers on how to make organizations more profitable through reduced costs and increased revenues.
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Bachelor's Degree
2017 MEDIAN PAY
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