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How Much Do Government Accountants Make? Salary Guide 2024

Nov 27, 2024

By Anne Gomez

government-accounting-salary
Key Takeaways 

  • Government accounting involves managing public finances at the federal, state, and local levels, ensuring budgets are balanced, taxes are properly collected, and funds are used legally.
  • Salaries vary based on experience, government level, and location, with entry-level positions earning around $49,000 to $65,000 and senior roles in federal agencies offering higher salaries.
  • Benefits in government accounting include comprehensive health insurance, retirement plans, paid leave, and job security, making it an attractive career option.
  • The job outlook is strong, with continued demand for government accountants driven by increasing government spending and the growing complexity of public finances.

 

Government accounting is all about managing public finances—making sure budgets are balanced, taxes are collected properly, and funds are used responsibly. It's a critical role that helps keep federal, state, and local governments running smoothly. But how much do these accountants earn in 2024? This guide explores the salary ranges, the factors that influence pay, and the benefits that make government accounting an attractive career choice. 

What Is Government Accounting?

Think of government accounting as the financial backbone of public service. It ensures that taxpayer money is spent wisely and legally. Government accountants handle tasks like budgeting, auditing, and financial reporting for federal, state, and local agencies.

Here are some key responsibilities:

  • Budgeting: Planning and tracking how funds are spent across different programs.
  • Auditing: Double-checking financial records to ensure everything is accurate and compliant.
  • Compliance: Making sure all spending follows laws and regulations.

Simply put, government accountants make sure public money is managed properly to benefit everyone.

Average Salary For Government Accountants

The latest data shows that the average annual salary for a government accountant in the United States is ; however, this figure can vary.

For example, federal government accountants typically earn higher salaries, with some positions offering around per year in cities like Washington, DC, for those with 15+ years of experience. 

On the other hand, local government roles, such as those in Logan, WV, offer lower salaries, around for those with 1-3 years of experience. For mid-career accountants (4-6 years), salaries can range from annually. Entry-level government accountants (0-1 year) may expect salaries between , depending on location.

Factors That Affect Government Accounting Salaries

factors-that-affect-government-accounting-salary
Several factors can influence the salaries of government accountants, including the level of government (federal, state, or local), geographic location, years of experience, education, and certifications. 

Other considerations, such as the size and budget of the government agency, the specific industry or department, and the cost of living in a particular area, also play a role in determining salary expectations. Let's discuss these factors in more detail:

Education and certifications

Higher educational attainment and relevant certifications can significantly increase the salary potential for government accountants. A bachelor's degree in accounting or a related field is typically required, but advanced degrees such as a master's in accounting or public administration can open doors to higher-paying positions. 

Certifications like the Certified Public Accountant (CPA), Certified Government Financial Manager (CGFM), or Certified Internal Auditor (CIA) are highly valued and can lead to higher salaries, as they demonstrate specialized expertise and a commitment to professional standards. These qualifications can also make accountants eligible for more senior roles with greater responsibilities and higher pay.

Geographic location and government level

Salaries for government accountants can also vary depending on whether they work at the federal, state, or local government level. Federal positions typically offer higher salaries due to the complexity and scope of the work. 

Additionally, geographic location plays a significant role, with accountants in areas with a higher cost of living, such as Washington, DC, or New York, generally earning more than those in smaller cities or rural areas. Each level of government and region can offer different salary ranges based on demand, budget, and local economic conditions.

Years of experience

Years of experience play a significant role in determining salary levels for government accountants. Entry-level accountants, typically with less than 2 years of experience, tend to earn lower salaries as they are still building their skills and expertise. 

However, as accountants gain more experience, their salaries increase. Mid-career professionals (3-5 years) earn more due to their growing expertise, while senior-level accountants with 5+ years of experience can expect the highest salaries, especially in positions with greater responsibilities and leadership roles. Experience helps accountants move into higher-paying roles, often with more complex tasks and management duties.

Government agency size and budget

The size and financial capacity of the government agency can also influence salary scales for government accountants. Larger agencies, such as federal government departments, often have bigger budgets and more complex financial operations, which can lead to higher salaries for accountants. 

In contrast, smaller local government agencies may have more limited budgets and fewer financial resources, often resulting in lower salaries for government accountants. 

Benefits And Perks In Government Accounting Jobs

benefits-and-perks-in-government-accounting-jobs
In addition to competitive salaries, government accounting jobs often come with a range of non-salary benefits that enhance overall compensation. These benefits, along with the salary, contribute to the overall appeal of government accounting roles and provide a strong foundation for long-term career satisfaction. Here are some of the benefits government accountants enjoy:

Health insurance: Government positions typically offer comprehensive health coverage, including medical, dental, and vision insurance. This coverage often extends to employees' families, ensuring access to quality healthcare at an affordable cost.

Retirement plans: Many government accounting jobs provide major retirement benefits, such as pension plans or 401(k) matching contributions. These retirement plans help employees save for the future, often with employer contributions that increase overall financial security.

Paid leave: Government employees generally enjoy generous paid leave policies, including vacation days, sick leave, and paid holidays. This allows for a healthy work-life balance and provides time off for personal or medical needs.

Job security: One of the most notable perks of government accounting jobs is the greater job stability compared to the private sector. Government positions often offer long-term employment opportunities with a reduced risk of layoffs, providing peace of mind and a stable career path.

Job Outlook And Salary Growth For Government Accountants

The job outlook for government accountants is strong, as the need for them continues to grow with rising government spending and more complex financial management in the public sector. 

According to the U.S. Bureau of Labor Statistics (BLS), the employment of financial specialists, including accountants, is from 2023 to 2033, which is faster than the average for all occupations. Many government accounting jobs will open up as workers change careers or retire. This creates a need for new professionals, especially as more people leave the workforce due to age.

Factors influencing salary growth for government accountants include increasing government budgets, changes in financial regulations, and the ongoing need for professionals who can navigate complex public sector financial systems. 

For government accountants, salary increases can also be affected by factors like geographic location, agency size, and level (federal, state, or local), as we've mentioned above.

The Bottom Line

Government accounting offers a stable and rewarding career with strong job demands, competitive salaries, and excellent benefits like health insurance, retirement plans, and job security. 

If you're looking for a career that provides long-term stability and the opportunity to make a meaningful impact, government accounting could be the perfect choice. Working professionals interested in deepening and strengthening their skills in accounting theory and practice and earning eligibility to sit for the Certified Public Accountants (CPA) exam can consider the Master of Science in Accounting degree at Our Lady of the Lake University (º«¹úAV). 

Start your path toward a fulfilling career in this essential field today!

Frequently Asked Questions (FAQs)

What types of government accounting jobs are there?

Government accounting jobs include roles such as budget analysts, auditors, financial analysts, and compliance officers at various levels—federal, state, and local government agencies.

Can government accountants work remotely?

While some government accounting jobs, especially at the federal level, offer remote work options, many positions require on-site work due to the nature of public sector operations and security concerns.

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