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Salaries Rise for Accountants

The fifteenth annual wage study for the United States accounting professionals showed interesting results. The study concluded that even as wage rises have become slower and have shrunk, they have not yet come to a halt. Also, with regards to the gender gap, the survey published by the Institute of Management Accountants (IMA) and issued in Strategic Finance magazine suggests that the total payment for males and females is becoming smaller.

The survey of over 1,600 finance accounting and managerial professionals noticed that wages rose by 4.7% to $87,108 and average total payment rose from 5.8% to $99,620. This is a major change from previous studies. Average wages for males still outpace those of females (men earn $94,314 meanwhile women earn $72,773). Still, the total payment for females increased more than the one for males -- 7.2 % against 6.2 % respectively -- (both are important increases). However, the total payment for females at $81,121 is $27,000 less than the amount for males at $108,841.

Also, the results say that while the percentage of males and females in senior management is almost identical (18% for women against 19% for men), there are more females in middle- (42% against 37%) and entry-level (22% against 13%) jobs and fewer in top-level jobs (12% against 26%).

In addition, the survey found that accountants who hold a professional accounting certification earn 19% more money than those who don't and average wage numbers grew in the year 2003 over the year 2002 for all places and industry sizes except for those businesses with less than nine employees. The average total compensation and the average wages became bigger for every standard industry code (SIC) except in the mining business. The insurance, real estate, and finance industries all gathered the highest wages.

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