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Survey Says: Virginia Accountant Salaries By Experience Level

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Skipping the smart-ass headline for this one and getting right to it: Virginia Society of CPAs surveyed a total of 84 public firms, 17 solo practitioners, 133 accountants in corporate/industry, and 48 in government/nonprofit for the 2022 VSCPA Compensation & Benefits Survey and here are the results:

Virginia Accounting Salaries
Mean Median
Accountant I: 0-1.9 years $59,022 $60,000
Accountant II: 2-2.9 years $64,972 $67,189
Accountant III: 3-4.9 years $73,381 $72,800
Supervisor/Mgr. I: 5-6.9 years $84,645 $88,348
Supervisor/Mgr. II: 7-9.9 years $97,145 $100,000
Senior Manager: 10-14.9 years $118,635 $116,512
Director: 15+ years $141,876 $128,750
Partner $211,733 $180,100
Paraprofessionals/Bookkeepers $55,173 $52,600
Advisory $91,943 $89,136
Human Resources $87,727 $88,000
IT/Technology $91,000 $95,898
Marketing $78,882 $72,000
Finance $109,013 $107,641
General Administration $53,516 $55,000

VSCPA did a very similar survey in 2020 [executive summary PDF here] and compared to that, accountants in the state saw the biggest salary bump in:

Position Change from 2020
Accountant I +15.5%
Accountant III +10.7%
Supervisor/Manager I +12.7%
Senior Managers +13.9%

There were some unexpectedly low changes elsewhere, particularly at the 7-9.9 years experience level and Partners:

Position Change from 2020
Supervisor/Managers II +5.7%
Partners +0.5%

A few other points from the executive summary:

  • Among non-accountants, mean salaries for staff in support positions include Finance ($109,013), IT ($91,000), Human Resources ($87,727), and Marketing ($78,882). Those in General Administration ($53,516) and Paraprofessionals/Bookkeepers ($55,173) earn less.
  • Non-accounting positions also showed sharp changes from 2020, with Finance (+34.5%) and IT (+21.8%) making considerably more, and HR (+12.5%), Marketing (+6.2%), Paraprofessionals (+5.4%), and General Administration (+3.7%) earning smaller 2-year increases in mean salary.
  • Participants in public firms indicated their highest and lowest salary by staff category if they had more than one person in a position. Average spreads can be quite wide, as high as 75% among Partners, 60% among Directors, and between 19% and 29% among Accountants I-III.

Finally, this note is the takeaway:

Overall, public firms reported a mean increase in salary of 7.6% between October 2021-22 [emphasis ours] and anticipate a slightly lower mean of 6.6% in October 2022-23. This is considerably higher than the 4.0% annual real and anticipated increases in 2020. Average increases in industry/corporate (mean 7.0%/median 5.0%) and government/nonprofit (mean 8.1%/median 7.0%) in 2021-22 were also relatively high.

You can check out more on the survey results or purchase a full report from the VSCPA here.