Accounting Administrator: Career and Salary Facts

<p>Accounting administrators help to operate a company's accounting department, either by managing a small group of workers or an entire department. They are also responsible for recording and assessing financial information for the internal use of business managers. They assess the efficiency of financial operations and the accuracy of documents. They may handle tax information and have to provide suggestions for revenue and spending. The following chart provides an overview of what you need to know about entering this field. </p> <p /> <table border="1"><tr><td> <b>Degree Required</b> </td><td> Associate's degree (preferred minimum); bachelor's or master's degree for more advanced positions</td></tr> <tr><td> <b>Education Field of Study</b> </td><td> Accounting or business administration</td></tr> <tr><td> <b>Key Responsibilities</b> </td><td> Project management; scheduling employees; regulatory compliance</td></tr> <tr><td> <b>Job Growth (2020-2030)</b> </td><td> 7% (for accountants and auditors)*</td></tr> <tr><td> <b>Median Annual Salary (2020)</b> </td><td> $73,560 (for accountants and auditors)*</td></tr> </table><p><i>Source: *U.S. Bureau of Labor Statistics</i> </p> <h3 id="section---WhatWillIDoAsAnAccountingAdministrator">What Will I Do as an Accounting Administrator?</h3> <p>Your job responsibilities as an accounting administrator will vary widely based upon your education, experience level and employer. You may run a small office, manage a single specialized team within an accounting department, or oversee the entire finance department of a larger business or corporation. Your overall responsibilities will generally consist of managing the accounting practices for these organizations. This may include: </p> <ul><li>Tracking projects and deadlines </li><li>Managing work schedules for employees </li><li>Making sure that work is completed on time </li><li>Ensuring compliance with any applicable regulations </li></ul><p>Work is done in an office setting, generally during a 40-hour week. Overtime may be required in periods when taxes or inventories are scheduled. </p> <h3 id="section---WhatKindOfEducationDoINeed">What Kind of Education Do I Need?</h3> <p>Educational requirements depend upon the type of job you seek in the field. For low-level management jobs, you may be accepted as a high school graduate and receive on-the-job training. However, most employers look for an accounting administrator to have at least an associate's degree in either business or accounting. Mid- to upper-level administrator jobs will require you to have a Bachelor of Science in Accounting. To advance further, you will want to explore either getting a Master of Science in Business Administration or becoming a Certified Public Accountant. </p> <h3 id="section---HowMuchCanIEarn">How Much Can I Earn?</h3> <p>According to the U.S. Bureau of Labor Statistics, salaries for accountants and auditors in 2020 ranged between $45,220 and $128,680 annually, with the median yearly salary at $73,560 (<i>www.bls.gov</i>). What you earn will be dependent upon your education and years of experience, coupled with the size of the company for which you work. </p> <h3 id="section---WhichQualitiesDoEmployersLookFor">Which Qualities Do Employers Look For?</h3> <p>Accounting administrators are responsible for working with many people within a company, so employers will be looking for you to be skilled in the following areas: </p> <ul><li>Verbal and written communication </li><li>Leadership </li><li>Multi-tasking </li><li>Discretion </li><li>Organization </li><li>Problem solving </li></ul><p>Given that this work, during some periods of the accounting year cycle, will require overtime and involve stress, you will need to be able to be flexible and to remain calm under pressure. </p> <h3 id="section---WhatAreSomeRelatedAlternativeCareers">What Are Some Related Alternative Careers?</h3> <p>Related careers include budget analysts, management analysts, tax examiners and collectors, and revenue agents. Budget analysts handle the spending and financial operations of public and private institutions. Management analysts work to drive profit and decrease spending. Tax examiners and collectors, and revenue agents make sure that the government receives tax payments from individuals and businesses. These fields all require a bachelor's degree.</p>