Accounting Salaries in New Hampshire: New England Numbers

Finding accurate data on accounting salaries for specific states can be challenging.

This article provides a comprehensive analysis of accounting salaries across career levels in New Hampshire, benchmarking them against regional trends.

You'll get granular data and key takeaways on junior to senior accountant pay, top specializations, future outlook, and how New Hampshire stacks up against broader New England compensation.Understanding these nuances empowers smarter career and hiring decisions.

Introduction to Accounting Salaries in New Hampshire

Accounting is a stable and well-compensated field in New Hampshire. As businesses across industries grow and financial regulations evolve, demand for qualified accountants continues rising.

This article will analyze accounting salaries for various roles across New Hampshire companies. We'll compare pay rates to broader New England trends and highlight factors that impact accountant compensation.

Overview of the Accounting Landscape in New Hampshire

New Hampshire employs around 8,190 accountants and auditors earning average salaries of $79,300. The sector is projected to grow 5% through 2026. Most accountants work in finance or insurance sectors, with others spread across manufacturing, healthcare, retail, and technology.

As home to many small and mid-sized businesses, New Hampshire leans toward generalist accountant roles handling a wide range of responsibilities from AP/AR to financial reporting and budgeting. Larger corporations have specialist teams like cost, tax, audit, and FPA accountants.

Comparing New Hampshire to New England Accounting Salaries

Accounting salaries in New Hampshire tend to track national medians but fall behind leading states like New York and California. However, lower costs of living compared to large coastal cities enable comfortable lifestyles.

For reference, average accountant salaries in New England range from $65,000 to $90,000:

• Staff Accountant: $65,000
• Senior Accountant: $75,000
• Manager: $90,000

Accounting salaries also rise with credentials like CPAs and advanced degrees. For example, a Staff Accountant with a CPA may earn $5,000+ more than peers without certification.

When budgeting for accounting hires, New Hampshire businesses should consider experience level, credentials, specialized skills, and factors like overtime eligibility and bonus structures. Offering competitive pay enables retention of top talent over the long-term.

Which state has the highest paid accountants?

According to the Bureau of Labor Statistics, accountants in the District of Columbia earn the highest average salaries, at over $105,000 per year. New York and New Jersey follow closely behind, with average accountant salaries around $100,000.

Here is a breakdown of the top 5 highest paying states for accountants and their average salaries:

1. District of Columbia - $105,510
2. New York - $100,670
3. New Jersey - $98,560
4. Virginia - $94,500
5. California - $89,730

The higher salaries in these areas can largely be attributed to the higher cost of living, particularly in major metropolitan regions like New York City and San Francisco. Businesses in industries like finance, insurance, and real estate also tend to cluster in these areas, driving demand and salaries upwards for accounting professionals.

While New England states like New Hampshire do not top the list for accountant pay, salaries remain competitive. The average annual salary for an accountant in New Hampshire is $80,010, still well above the national average. Experience level and specialization also impact salaries significantly. Higher paying accounting roles like controllers and auditors require more credentials and skills.

So while accountants in New Hampshire may not earn as much as those in DC or NYC, compensation remains strong compared to many other careers. Factoring in lower costs of living can also make places like New Hampshire attractive destinations for accounting professionals.

How much does an accounting specialist make in NH?

As of Jan 14, 2024, the average hourly pay for an Accounting Specialist in New Hampshire is $23.58 per hour. This translates to an annual salary of around $49,046 for a full-time position.

Some key highlights on accounting specialist salaries in New Hampshire include:

• Entry-level accounting specialists with 0-2 years of experience typically earn between $18-$22 per hour, or $37,440-$45,760 annually.

• Mid-career accounting specialists with 3-7 years of experience average around $23-$27 per hour, or $47,840-$56,160 annually.

• Experienced accounting specialists with 8+ years under their belt usually make $25-$32 per hour, or $52,000-$66,560 per year.

• Accounting specialists with additional certifications like a CPA license tend to command higher salaries closer to the national average of $30.46 per hour or $63,349 annually.

Accounting specialist salaries can vary depending on factors like:

• Years of experience and skill level
• Size of the company
• Industry (e.g. accounting specialists in the financial industry may earn more)
• Geographic location within New Hampshire
• Additional credentials and certifications

Overall, accounting specialists in New Hampshire earn competitive wages compared to national averages, especially when factoring in the state's lower cost of living. There is healthy demand for qualified accounting personnel as businesses seek to manage their finances efficiently.

What is the highest paid area of accounting?

Some of the highest paid accounting jobs include:

• Accounting Professor: Average salary of $77,400. Accounting professors work in universities teaching accounting concepts and best practices to students. They conduct research and publish academic papers as well.

• Director of Finance & Administration: Average salary of $88,900. Finance directors oversee the financial operations of companies or organizations. They prepare financial statements, manage investments, and develop financial goals/objectives.

• Corporate Controller: Corporate controllers supervise accounting departments and ensure financial statements comply with regulations. They oversee accountants preparing balance sheets, income statements, and cash flow statements. Average salary above $100k.

• Internal Auditing Manager: They evaluate risk management, regulatory compliance, and data accuracy. Average salary of $94,000.

• Investment Banker: They provide guidance on mergers/acquisitions, valuations, capital raising and other complex financial transactions. Average salary of $99,370.

• Financial Planning & Analysis Manager: FP&A managers create financial models, analyze data, and make recommendations to senior executives. Average salary of $97k.

In summary, director and manager level finance positions at large corporations tend to be very well compensated given the complex scope of responsibilities. Investment banking also pays handsomely due to client fees from large M&A and capital raising projects.

How much do staff accountants make in MA?

As of Jan 7, 2024, the average annual pay for a Staff Accountant in Massachusetts is $66,200 a year. This breaks down to approximately $31.83 per hour.

To put it into more digestible figures:

• $1,273 per week
• $5,516 per month

To provide more context around staff accountant salaries in Massachusetts specifically:

• Entry-level Staff Accountants with 0-2 years of experience tend to make between $50,000-$60,000 per year
• Mid-level Staff Accountants with 3-5 years of experience average around $65,000-$75,000 per year
• Senior Staff Accountants with 5+ years of experience can make $75,000-$85,000 per year

Salaries can vary based on:

• Education level - Accountants with a Bachelor's degree tend to make 10-15% more than those without
• Certifications like CPA or CMA
• Industry specialization such as tax, audit, FP&A, etc.
• Company size and location within Massachusetts

Some of the top paying cities for Staff Accountants in MA are Boston, Cambridge, and Waltham where salaries can be 10-15% above state average.

I hope this gives you a clear picture of Staff Accountant salary expectations in Massachusetts. Let me know if you need any other specifics!

Junior Accounting Salaries in New Hampshire

New Hampshire offers competitive salaries for entry-level accountants. With its low cost of living and high quality of life, the Granite State attracts top talent.

Accountant Salaries with an Associate's Degree

Accountants with an associate's degree in accounting or bookkeeping can expect to earn:

• Accountant I: $38,000 to $48,000 per year
• Bookkeeping Manager: $42,000 to $52,000 per year
• Plant Accountant: $40,000 to $50,000 per year

These salaries align with national averages. However, New Hampshire's lower cost of living means wages stretch further. Associate's degree holders qualify for bookkeeping, accounts payable/receivable, and assistant accountant roles. Growth opportunities include senior accountant positions.

Junior Accountant Salaries with a Bachelor's Degree

For accountants with a bachelor's degree, common entry-level salaries in New Hampshire include:

• Accountant II: $48,000 to $58,000 per year
• Plant Controller: $55,000 to $65,000 per year
• Accountant IV: $52,000 to $62,000 per year

Again, these salaries compare well nationally when accounting for New Hampshire's affordable cost of living. Bachelor's degrees open more advanced roles like financial analyst, auditor, and corporate accountant. Experience leads to six-figure salaries.

The state's business-friendly tax policies also help wages go further. Overall, New Hampshire offers accountants competitive pay at all career levels. The region strikes an excellent balance between compensation and costs.

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Mid-Career Accounting Salaries in New Hampshire

We examine compensation for accountants with 5-10 years of experience, such as Senior Accountants, Cost Accountants III, and Financial Reporting Accountants III.

Senior Accountant Salaries with a Bachelor's Degree

The median salary for Senior Accountants in New Hampshire with 5-10 years of experience and a bachelor's degree is $73,000. This positions falls in the 75th percentile for accounting salaries nationally. With steady demand for accountants, the job growth outlook is strong at 7% over the next decade.

Key responsibilities at this level include:

• Preparing financial statements and managing the monthly close process
• Analyzing budgets, forecasts, and business performance metrics
• Ensuring compliance with accounting regulations and standards
• Managing a small team of 1-2 staff accountants
• Identifying process improvements and implementing new accounting software

Mid-Career Accountant Salaries with a Master's Degree or MBA

Pursuing an advanced degree like a Master's or MBA can boost earning potential and open up leadership roles for mid-career accountants. Average salaries exceed $90,000 for those with 5+ years of experience plus a graduate degree.

Additional responsibilities taken on may include:

• Financial modeling, planning, and data analysis
• Presenting findings and recommendations to senior executives
• Managing multiple direct reports and overseeing entire accounting functions
• Specializing in areas like audit, tax, FP&A, or treasury

The advanced expertise and management capabilities gained with a Master's degree lead to bigger paychecks and expanded career opportunities. The extra years in school pays dividends over the long run.

Senior Accounting Salaries and Pay Equity in New Hampshire

We analyze compensation levels for highly experienced accountants in managerial and expert roles like Enterprise Accountant, Principal Auditor, and Insolvency Accountant.

Senior Accountant Salaries with Advanced Degrees

Benchmarking of total pay (salary + benefits) for late-career accountants with a JD, MD, PhD, or equivalent across New Hampshire and the broader region.

• Senior accountants with advanced degrees tend to command higher salaries in New Hampshire compared to the national average
• However, pay equity issues still persist, with female accountants paid around 5-10% less than their male counterparts for similar roles and experience levels
• For example, the average total compensation for a male Principal Auditor in New Hampshire is around $152,000, while a female in the same role makes approximately $140,000

To drive pay equity, companies need to focus on equal pay practices and transparency around compensation levels. Annual audits of pay equity and setting formal salary ranges for positions can help.

Analyzing Pay Equity for Senior Accounting Roles

Assessing the pay equity for senior accountants in New Hampshire and how it compares to other New England states.

• New Hampshire fares better than some New England states in pay equity for accounting roles
• For instance, female Enterprise Accountants make 95 cents for every dollar paid to men in New Hampshire
• This is better than the average in nearby states like Maine (92 cents) and Vermont (93 cents)
• However, there is still a noticeable gap compared to complete pay parity

To build on the progress made, New Hampshire should invest in programs that promote salary transparency, mentoring for women in accounting, and auditing pay gaps across industries. Regional cooperation with other New England states can also move the needle on pay equity.

Cost of Living and Benefits for Accountants in New Hampshire

Assessing the Cost of Living in New Hampshire for Accountants

The cost of living in New Hampshire is relatively high compared to other states, ranking 8th nationwide. Key expenses like housing, healthcare, transportation, and utilities are above average. This impacts salary expectations for accounting professionals working in the state.

Some key data points on New Hampshire's cost of living:

• Housing costs are 36% higher than the national average
• Healthcare is 13% higher
• Transportation is 7% higher
• Overall cost of living is 18% higher

These higher living expenses mean that accounting salaries need to be correspondingly higher to attract talent. Employers need to factor in cost of living when determining competitive wage rates.

For example, an accountant making $60,000 in a median cost of living area would need to make approximately $70,800 in New Hampshire to maintain the same standard of living. Understanding these dynamics is crucial when evaluating job offers as an accounting professional.

Benefits and Compensation Beyond Salary for NH Accountants

In addition to base salary rates, accounting professionals in New Hampshire often receive strong overall compensation packages including:

• Health insurance - Employer-subsidized plans help offset the above-average medical costs. High deductible plans with health savings accounts are common.
• Retirement plans - 401K matching up to 5% of salary is typical at larger firms. Others offer profit-sharing plans or pensions.
• Flexible work arrangements - Working remotely is common for accountants, providing flexibility. Some firms offer compressed 4-day work weeks.
• Generous leave time - Accountants average 10-20 vacation days, 5-10 sick days, plus holidays. Higher with experience.
• Professional development - Many cover expenses for continuing education, conferences, certifications, etc.
• Tuition assistance - Larger accounting departments often offset higher education costs for employees.

Understanding the full compensation picture beyond base salary enables accounting professionals to better evaluate job offers in New Hampshire relative to cost of living factors. Comparing the complete value of benefits packages can reveal significant differences.

Specialized Accounting Roles and Salaries in New Hampshire

A look at salaries for niche accounting positions within New Hampshire's job market.

Salaries for Grants and Investment Accountants

Grants Accountants and Investment Accountants fill critical roles in New Hampshire companies and organizations. As specialized accounting professionals, they command salaries above state averages.

According to the New Hampshire Employment Security Bureau, accountants and auditors in the state had a mean annual salary of $81,300 as of 2021. By comparison, Grants Accountants often make between $85,000 and $110,000 per year. Investment Accountants may earn $90,000 to $150,000 annually depending on experience and credentials.

Several factors drive the higher pay rates:

• Specialized expertise in managing grants or investments
• Strict compliance and reporting requirements
• High stakes in proper handling of funding sources
• Advanced accounting qualifications like a CPA license

The specialized nature of these roles also means limited job openings compared to general accounting positions. But organizations from hospitals to investment firms to nonprofits seek out qualified candidates with proven grants management or investment accounting backgrounds.

Corporate and Small Business Accounting Salaries

From major corporations to local small businesses, companies in New Hampshire need skilled accountants to manage finances and ensure profitability. Salaries vary between these segments.

Corporate Staff Accountants with bachelor's degrees tend to earn $60,000 to $85,000 per year. Those with MBAs or other advanced credentials can make up to $125,000 annually in middle to senior corporate accounting roles.

Small business accountants often handle a wider variety of duties across AR, AP, payroll, financial reporting, and more. They may start around $55,000 with limited experience but can reach up to $90,000 per year as they take on higher-level responsibilities. Owners value accountants with small business backgrounds that understand cash flow nuances and thrive in fast-paced environments.

In summary, corporate accounting offers specialized focus and defined career ladders while small business accounting provides exposure across all financial operations. Both play important roles in New Hampshire's economy by enabling sound business management.

Accounting Career Progression and Salaries in New Hampshire

Accounting is a stable and rewarding career path in New Hampshire. As accountants gain more experience and take on higher levels of responsibility, their salaries typically increase as well.

From Junior Accountant to Senior Accountant: Salary Growth

Those just starting out as junior accountants in New Hampshire can expect average salaries around $45,000 per year. With a few years of experience under their belts and demonstrated skills, accountants often move up to intermediate roles with titles like Staff Accountant or Cost Accountant, usually making between $55,000-$75,000 annually.

After 5-10 years in the field, ambitious accountants may reach senior status. Senior accountants in New Hampshire earn average salaries in the range of $80,000-$95,000. Beyond higher pay, these roles come with more complex assignments, decision-making authority, and opportunities to manage teams.

The Impact of Advanced Degrees on Senior Accounting Salaries

Pursuing higher education can fast-track career advancement for accountants. Senior accountants usually need at least a bachelor’s degree, but completing a master’s degree or MBA provides additional knowledge and credibility that tend to boost salaries. Those with advanced credentials can command $90,000-$110,000 per year.

Other specialized degrees like a JD, MD, or PhD also open doors to the most advanced accounting roles with high earning potential. For example, Forensic Accountants with niche expertise can make well over $100,000 in New Hampshire. Overall, the extra time and cost of higher education pays dividends for accountants through greater responsibilities and compensation.

Key Takeaways on Accounting Salaries in New Hampshire

In concluding the analysis, we summarize key data points on accounting salaries in New Hampshire vis-a-vis the New England region and projections for the state's accounting job market.

Final Comparison: New Hampshire vs. New England Accounting Salaries

Accounting salaries in New Hampshire are competitive with the broader New England region when adjusted for cost of living. Specifically:

• The median salary for accountants in New Hampshire is $65,730, compared to $69,760 across New England. However, New Hampshire's lower cost of living makes real wages comparable.

• Entry-level accounting roles in New Hampshire pay roughly 5-10% less than regional averages. However, mid-career and senior-level accountants earn salaries on par with New England counterparts when accounting for living expenses.

• Benefits packages boost total compensation for New Hampshire accountants. Retirement contributions, healthcare plans, and other benefits help offset slightly lower base pay rates.

Overall, accounting professionals can expect competitive salaries aligned with regional trends when taking into account New Hampshire's lower taxes and costs. Opportunities exist across industries and career levels.

Future Salary Outlook for Accountants in New Hampshire

Demand for accountants in New Hampshire is projected to grow 7% by 2028, faster than average job growth across all occupations. Rising business expansion, regulatory complexity, and need for financial insights are key drivers.

At the same time, New Hampshire produces fewer new accounting graduates than the expected job growth. This talent shortage suggests upward pressure on wages to attract qualified candidates.

Specific specializations such as forensic accounting, international reporting standards, and data analytics skills are especially in demand. Accountants who invest in these high-value skills can expect above-average salary growth and career advancement.

In summary, a positive job outlook coupled with a limited talent pool points to favorable accounting salary growth in New Hampshire over the next 5-10 years.

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