Average Accountants and Auditors Salary in Montgomery, AL
Accountants and Auditors in Montgomery, AL, earn an average annual salary of $78,590. This figure is notably below the national average of $94,430, suggesting that local economic factors and market demand play a significant role in compensation within the state capital. While the nominal salary may seem lower, understanding the local economic landscape is crucial for a complete picture.
Executive Summary
- Average Salary: $78,590 per year.
- Growth Trend: Salaries have shifted 13.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $113,730.
- Outlook: With a local workforce of 2,550 Accountants and Auditors, Montgomery presents a substantial pool of talent. The Location Quotient of 1.67 indicates a higher concentration of these professionals compared to the national average, suggesting a robust and potentially growing demand for their services within the region. This concentration, coupled with 15.645 jobs per 1,000 workers, points to a healthy job market for accounting professionals in Montgomery.
Salary Overview
The average Accountants and Auditors in Montgomery, AL earns-16.8%below the national average.
$37.8
$1,511
$6,549
Accountants and Auditors Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that salaries for Accountants and Auditors across the nation, including Montgomery, have experienced steady growth over the past four years. This trend is typically driven by inflation, increasing demand for financial expertise, and the evolving complexity of financial regulations, leading to incremental salary increases for professionals in the field.
Accountants and Auditors Salary Distribution in Montgomery, AL
The career trajectory for Accountants and Auditors in Montgomery, AL, typically sees significant salary increases with experience. Entry-level positions might start at a lower percentile, while seasoned professionals with specialized skills and extensive experience can command salaries in the higher percentiles. The gap between entry-level and senior roles signifies clear opportunities for career progression and substantial earning potential within the profession.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $49,390 | $23.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $58,943 | $28.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $72,830 | $35 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $98,238 | $47.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $113,730 | $54.7 |
Detailed Accountants and Auditors Market Analysis
Relocation Context
Nominal Salary
$78,590
Gross Pay
Real Wage (Purchasing Power)
$78,590
Adjusted for COL (100)
The average annual salary of $78,590 in Montgomery, AL, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of an Accountant's salary in Montgomery is equivalent to the national average, making the nominal salary figure a fair representation of living expenses. Professionals relocating to Montgomery can expect their earnings to cover standard living costs without significant deviation from the national norm.
Job Market Context
2,550
Total Jobs
15.645
Per 1K Jobs
1.67
Location Quotient
Montgomery, AL has 1.7x the national concentration of Accountants and Auditors jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
Montgomery, AL, boasts a Location Quotient of 1.67 for Accountants and Auditors, significantly exceeding the national average of 1.0. This indicates that the city has a disproportionately higher concentration of these professionals relative to its overall workforce compared to the rest of the country. Such a high quotient suggests a strong local demand and a well-established professional community for accounting services in the area.
Nearby Job Markets
Nearby Cities for Accountants and Auditors
| City | Salary | Dist. |
|---|---|---|
| Northeast Alabama nonmetropolitan area Accountants and Auditors Salary | $70,600↓ 10% | 44 mi |
| Southeast Alabama nonmetropolitan area Accountants and Auditors Salary | $77,050↓ 2% | 44 mi |
| Northwest Alabama nonmetropolitan area Accountants and Auditors Salary | $73,160↓ 7% | 44 mi |
| Southwest Alabama nonmetropolitan area Accountants and Auditors Salary | $74,430↓ 5% | 44 mi |
| Auburn-Opelika, AL Accountants and Auditors Salary | $75,130↓ 4% | 49 mi |
Comparing salaries near Montgomery, AL
Hiring Accountants and Auditorss?
Frequently Asked Questions
How much does a Accountants and Auditors make in Montgomery, AL?
The median annual salary for a Accountants and Auditors in Montgomery, AL is $78,590. This typically ranges from $49,390 for entry-level positions to $113,730 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Montgomery, AL is 16.8% lower than the national median of $94,430.
Is Montgomery, AL a lucrative place for Accountants and Auditors?
Yes, with caveats.While the average salary of $78,590 is below the national average, the strong concentration of Accountants (LQ of 1.67) and a cost of living at the national average suggest a stable and accessible market for these professionals.
Is Montgomery, AL a good place to live for Accountants and Auditors?
The Cost of Living Index in Montgomery, AL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Montgomery, AL?
Some top paying nearby cities include Northeast Alabama nonmetropolitan area ($70,600) and Southeast Alabama nonmetropolitan area.
How does Montgomery's Accountant salary compare to the national average?
The average annual salary for Accountants and Auditors in Montgomery, AL, is $78,590, which is lower than the national average of $94,430.
What is the Cost of Living in Montgomery, AL?
Montgomery, AL, has a Cost of Living Index of 100, which is exactly at the national average. This means that the general cost of goods and services is comparable to the rest of the United States.
How concentrated are Accountants and Auditors in Montgomery, AL?
Montgomery has a higher concentration of Accountants and Auditors than the national average, with a Location Quotient of 1.67, indicating a strong presence of these professionals.
What is the total workforce size for Accountants and Auditors in Montgomery, AL?
There are approximately 2,550 Accountants and Auditors working in Montgomery, AL.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,550 employees in the Montgomery, AL area with a job density of 15.645 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Accountants and Auditors • Data source: BLS OEWS 2024 •Jobs in Montgomery, AL