Accountant pay holds steady

The average salary of members participating in the Institute of Management Accountants (IMA) 20th Annual Salary Survey was $104,092, up 2.2% over the 2008 survey report. Total compensation for accountants in the most recent survey was $122,614, up 1.4% over the 2008 survey report.

Also, 71% of IMA members reported receiving salary increases, 3% less than 2007.

Accountants holding professional certifications earned 30% more in annual average salary than those without the certifications.

The survey was mailed to a random sample of more than 4,800 IMA members last December. A total of 1,578 usable questionnaires were returned. The survey was conducted by David L. Schroeder, associate professor of information and decision sciences, and Karl E. Reichardt, associate dean and associate professor of accounting, at Valparaiso University’s College of Business Administration.

Other survey results include:
• The average accountant salary in Arkansas is $75,493, well below the national average of $104,092 and below the Southern region average of $102,058.

• The average accountant salary in Oklahoma is $86,680.

• New Jersey is the state with the highest accountant average — $124,401.

• The median age of 48 is the highest ever reported for salary survey respondents.

• 51% of the respondents have an advanced degree, marking the third consecutive year this statistic has increased.

• The average number of years in the field increased from 19 to 20 years in the 2009 survey.

• While more women (72%) than men (70%) received salary increases, the average salary increase for women ($4,422) is less than the average for men ($6,450),as is the median amount of the raises ($3,300 vs.$4,000).

• Women have less experience than men as measured by years in the field (17.5 vs 20.4),years in their current position (5.5 vs. 6.7), and years with their current
employer (9.6 vs. 10.2), all of which are statistically significant.