Accountants oversee financial records and systems for best practices, efficiency and compliance with the law. They also prepare tax returns and find ways to cut costs and increase profits. As a reflection of their increased responsibilities, accountants earn significantly more than bookkeepers on average. A good starting salary for a bookkeeper is $31,000 in the United States. That puts you in the 10th percentile of annual income for a bookkeeper in the U.S., which is about what you would expect if you were new to the field.

On the other hand, bookkeepers working for accounting and related services averaged $36,130 per year in 2012, a difference of almost $40,000. In 2012, accountants averaged $34.15 in hourly pay, reports the U.S. Bureau of Labor Statistics survey of more than 1.1 million accountants. This real estate bookkeeping is equivalent to an average full-time annual income of $71,040. In contrast, the average hourly wage of more than 1.6 million bookkeepers was $17.62 per hour, for an average full-time wage of $36,640 per year. On average, accountants received almost double the salary of bookkeepers.

What is the Pay by Experience Level for Bookkeepers?

Generally, a bookkeeper’s formal education will be less than a four-year college degree. Accountants generally have a 120 or 150 credit college degree including at least 30 credits of accounting courses plus 30 credits of other business courses. In September 2022, Payscale reported an average annual base salary of about $50,430 for full-charge bookkeepers. Credentials like the CB and CPB certifications may also help bookkeepers develop the superior skills that boost their overall compensation rates.

Keep in mind that this is often not binding – meaning it might take a lot longer than they think it will, which means your costs would be a lot higher than the quote. So you now have an idea what to expect to pay for an in-house bookkeeper’s salary, with some caveats. Hourly wages/salary costs, however are not the full story for an in-house hire. Those in the federal government Postal Office Industry earned $65,100 per year, on average, or $31.30 per hour.

How much should you be paid?

She holds a Bachelor of Science in Finance degree from Bridgewater State University and helps develop content strategies for financial brands. Compare salaries for individual cities or states with the national average. Location, education, and experience impacts how much a bookkeeper can expect to make. Bookkeepers make the most in New York, Massachusetts, Connecticut, New Jersey, and Alaska. What your skills are worth in the job market is constantly changing.

The average annual salary was $41,110 per year, or $19.76 per hour. While a bookkeeper can average a salary of $40,337 per year, or $19.39 https://www.globalvillagespace.com/GVS-US/main-features-of-bookkeeping-and-accounting-in-the-real-estate-industry/ per hour, there are many opportunities for bookkeepers to make more. For example, in Washington, DC you might make $48,188 per year.