As a financial expert with a background in accounting, I can provide you with a detailed analysis of the salary expectations for accountants right out of college. It's important to note that the salary for new accountants can vary greatly depending on a number of factors including geographical location, industry, the size of the firm they work for, and their level of education and certification.

Starting with the information provided, according to the BISK CPA Review, which cites the National Association of Colleges and Employers survey, college graduates with accounting degrees had an average starting salary of $50,500 in 2012. However, it's essential to recognize that this figure is from several years ago, and salaries have likely increased since then due to inflation and market demands.

Certification plays a significant role in determining the salary of accountants. For instance, those who obtained a CPA (Certified Public Accountant) license had a median salary of $73,800, which is considerably higher than the average for graduates without the certification. CPAs are recognized for their expertise in accounting and auditing, and this recognition translates into higher earning potential.

The industry in which an accountant works can also impact their salary. For example, accountants in industries like finance, technology, and consulting often command higher salaries due to the complexity and demand for their services.

Geographical location is another critical factor. Accountants in metropolitan areas with a higher cost of living, such as New York City or San Francisco, can expect to earn more than those in smaller cities or rural areas.

The size of the firm is also a determinant of salary. Large accounting firms and multinational corporations tend to offer higher starting salaries compared to smaller firms or local businesses.

Lastly, the level of education can influence starting salaries. While a bachelor's degree is typically the minimum requirement for an entry-level accounting position, those with advanced degrees such as a Master's in Business Administration (MBA) or a Master's in Accounting (MAcc) may start at a higher salary bracket.

It's also worth mentioning that experience and performance can lead to salary increases over time. Accountants who prove their value to the firm through excellent work and contributions can expect promotions and salary raises.

In conclusion, while the average starting salary for accountants out of college was around $50,500 in 2012, it's important to consider the factors mentioned above when projecting current salary expectations. With the right combination of education, certification, industry, location, and firm size, new accountants can expect to earn a competitive starting salary, with the potential for significant growth as they gain experience and advance in their careers.

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According to the BISK CPA Review, which also cites the National Association of Colleges and Employers survey, college graduates with accounting degrees averaged salaries of $50,500 in 2012. However, those who obtained a CPA license had a median salary of $73,800 and top salaries were around $124,000.Nov 1, 2017read more >>