How Much Do Accountants Make in Utah?
Curious about accountant salaries in Utah? Get a clear outlook on earning potential, what influences pay, and total financial rewards.
Understanding typical earnings helps individuals make informed decisions about an accounting career. This article explores the compensation landscape for accountants in Utah, examining average salaries and the factors that influence earning potential.
Average Earnings for Accountants in Utah
The average annual salary for an accountant in Utah is around $62,202, though figures can range from $59,610 to $63,540. An entry-level Accountant I with less than one year of experience typically earns around $59,215 annually, rising to approximately $61,151 for those with eight or more years of experience in the role.
In Salt Lake City, the average gross salary for an accountant is higher, at approximately $85,565 per year. An entry-level accountant in Salt Lake City with one to three years of experience can expect to earn about $61,194, while a senior-level accountant with over eight years of experience may earn around $105,675.
Key Determinants of Accountant Compensation
An accountant’s compensation is shaped by several factors, beginning with their experience level. As professionals gain more years in the field, their earnings generally increase, reflecting deeper expertise and greater responsibility. For example, a junior-level accountant might earn around $48,680, while a mid-level professional’s salary could be about $63,540, and top-level accountants can reach $121,700 annually.
Educational attainment and professional certifications also play a substantial role in salary determination. While a bachelor’s degree is foundational, certifications like the Certified Public Accountant (CPA) license significantly enhance earning potential. CPA starting salaries are typically at least 10% to 15% higher than those for non-CPA accountants, and over a career, a CPA can earn substantially more than their non-certified counterparts. In Utah, the average annual pay for a CPA is about $83,736, with top earners making over $113,796. In Salt Lake City, a CPA’s average annual pay is even higher, at approximately $89,010.
Specialization within accounting also influences salary. Specialized fields like forensic accounting or management accounting can command different pay scales. The industry and size of the employer also matter; working for a large corporation or a specialized firm, especially in sectors like finance or technology, often leads to higher compensation compared to smaller businesses or certain government roles.
Compensation Beyond Base Salary
Accountants often receive more than just their base salary, with additional forms of compensation contributing to their overall financial package.
Bonuses are a common incentive, often tied to individual performance, team achievements, or the company’s financial success. For staff-level accounting positions, bonuses of 10% to 15% are not uncommon, and they can significantly boost total earnings. These performance-based bonuses encourage employees to meet or exceed targets such as billable hours or client satisfaction.
Profit-sharing plans represent another valuable component, where companies distribute a portion of their profits to employees. This can be structured as direct cash payments or deferred contributions into retirement accounts, fostering a sense of ownership and aligning employee interests with the business’s profitability. Employers can contribute up to 25% of an employee’s salary or $70,000 in 2025, whichever is less.
Retirement plans, particularly 401(k)s, frequently include employer matching contributions, which are a direct boost to an employee’s long-term savings. The average 401(k) employer match is typically between 4% and 6% of compensation, with a common structure being a 50% match on employee contributions up to a certain percentage of salary.
Some companies also offer stock options or restricted stock units, particularly in corporate roles, allowing employees to gain ownership in the company and potentially benefit from its growth. Additionally, professional development allowances or stipends are sometimes provided, supporting ongoing education, certifications, and training that enhance skills and career advancement.