What Is the Average Salary of an Auditor?

Are you good with numbers? Do you consider yourself a person of integrity? If you answered yes, then auditing might be the right career for you. Read on to learn more about the typical salary of an auditor. Schools offering Auditing degrees can also be found in these popular choices.

Job Description

As an auditor, you can work for a company, an accounting firm or a government agency. You can also perform independent contracting. Auditors must verify that the tax-related information provided by a client or company is accurate. This is done by inspecting detailed financial information and analyzing how tax laws apply to the particular case you're working on. Additional job duties are dependent upon your specialization, which could include public accounting, internal auditing, government accounting or management accounting.

Important Facts About This Occupation

Required Education Bachelor's degree
Professional Certification Offered by the Institute of Internal Auditors and ISACA
Key Skills Analytical, organizational, math, and communication skills; attention to detail
Work Environment Office setting; some may work from home
Similar Occupations Budget analyst, financial analyst, cost estimator, management analyst

Average Salary Overview

As of May 2018, the U.S. Bureau of Labor Statistics (BLS) reported that the average income for accountants and auditors was $78,820 (www.bls.gov). If you were in the bottom ten percent of earners, then you made $43,650 or less per year. However, if you were in the top ten percent of workers, then you earned $122,840 or more annually.

Salary by Industry

The BLS reported that accounting, tax preparation, bookkeeping, and payroll services employed the most accountants and auditors in May 2018, and the annual mean wage was $83,710. Management of companies and enterprises had the second highest employment level, and its mean wage was $80,020. School and employee bus transportation had the highest mean wage of $109,250. The federal executive government paid the second highest mean wage of $100,080.

Salary by Location

According to the BLS, states with high average pay for accountants and auditors in May 2018 included the District of Columbia ($98,130), New York ($96,300), New Jersey ($90,400) and Virginia ($85,640). California had the highest employment level at that time, as well as a high mean wage of $84,430.

Salary by Experience

PayScale.com reported that an entry-level internal auditor with less than five years of experience earned a median salary of $54,149 as of May 2019. Those with 5-10 years of experience made a median of $63,199, while those who had more than 20 years of experience made a median of $70,442.

Job Outlook

The BLS projected that accountants and auditors would experience 10% growth from 2016-2026. As a result, you're expected to see favorable job opportunities, especially if you possess professional certification. This growth is due to new financial laws and regulation changes, an increased demand for organizational accountability and globalization.

The regions with the highest concentration of accountants and auditors as of May 2018 were the District of Columbia, Colorado, New York, Delaware and Virginia. If you want to become an auditor in a popular industry, you'll want work for accounting and tax preparation services, company and enterprise management, consulting services or the government.

To continue researching, browse degree options below for course curriculum, prerequisites and financial aid information. Or, learn more about the subject by reading the related articles below:

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