Accounting and auditing are among the top occupations in New Hampshire, and are expected to show very favorable job growth between 2012 and 2022, as indicated by the New Hampshire Department of Labor. This was determined by ranking the professions that are expected to have the most job openings each year during the current ten-year period ending 2022. The Department of Labor projects that there will be some 193 job openings in accountancy each year during this period, which represents a total increase of 13.5 percent between 2012 and 2022.
A bachelor’s degree at minimum with 150 semester hours of college credit, one year of supervised experience, and passing scores on all parts of the Uniform CPA exam are the standard requirements for a CPA license, which expands practice privileges to include auditing and attestation services. This also creates opportunities to work with some of the world’s biggest CPA firms, among which is U.S. based “Big Four” firm, Ernst & Young, which has offices in Manchester. Local and regional accounting firms throughout New Hampshire, such as Advisory Business Services, Inc in Amherst and Feeley & Driscoll in Nashua, employ CPAs who provide business consultation, estate planning, and tax services.
Because a bachelor’s degree consists of just 120 semester hours of college credit, a master’s in accounting serves as the most common way to earn the 30 additional credit hours required for a CPA license in New Hampshire.
Many multinational corporations call New Hampshire home and are among the state’s leading employers of corporate managerial accountants, financial controllers, internal auditors, and cost and capital accountants. The corporate headquarters of outdoor equipment outfitters, Timberland, are located in Stratham, and Eastern Mountain Sports has headquarters in Nashua. C&S Wholesale Grocers in Keene and the former Fortune 500 Company, Fisher Scientific International located in Hampton, are also major employers of accountants in New Hampshire.
The New Hampshire Bureau of Economic and Labor Information expects a growth rate of 13.1% in the number of accounting jobs in the state between 2012 and 2022, representing an average of 193 new openings each year.
According to the US Bureau of Labor Statistics, accountants in New Hampshire earned an average annual salary of $68,250 as of May 2014. Metropolitan areas such as Manchester or Portsmouth reported higher average salaries, $72,770 and $71,560 respectively. Accounting professionals in Portsmouth who were in the top 90th percentile of salary earners made $103,100 on average that year.
The Robert Half Salary Guide for 2015 provided information on accountant salaries across the state:
Internal auditors with several years of experience working with large corporations earned an average salary of $102,480 a year in the Manchester and Nashua areas, while controllers at large firms in this area earned $98,280 on average.
Forensic accountants earned an average of $124,880 while the top salaries among financial analysts in the Manchester/Nashua area averaged $112,840. Chief Financial Officers (CFOs) in this area with the most experience often held CPA licenses, and earned an average of $423,920 as of the latest Robert Half salary survey published in 2015.
Accounting Salaries in Cities and Non-Metro Areas Throughout New Hampshire
The difference in salaries for accountants in New Hampshire is due mostly to location, experience and CPA licensure. North New Hampshire’s nonmetropolitan earnings report published by the US Department of Labor in 2014 shows an average annual salary of $53,600. Manchester-based accountants earned an average salary of $72,770.
The following table shows salary data from the 2014 Bureau of Labor Statistics report on accountants in New Hampshire:
Tax Preparer Salaries in New Hampshire
Tax preparers in New Hampshire earned an average of $28,420 a year according to the US Department of Labor’s 2014 report. The average salary of tax preparers in urban areas was significantly higher according to US Bureau of Labor Statistics data (2014).
See the table below for detailed information on tax preparers in New Hampshire’s metropolitan areas: