The average starting base salary of Bachelor of Accounting graduates in 2007 was $50,250 per annum. This compares very favourably to the average starting salary of all Australian bachelor degree graduates ($40,800*) and the average starting salary of Australian accounting graduates ($37,000*). And offers being made to graduates due to start in 2008 are averaging over $50,000.

Bachelor of Accounting graduates also tend to progress in their profession quicker than the average. One reason for this is that our graduates already have 11 months of full-time work behind them and the experience of working in big business when they start. They have less of the basics to learn and can start on their career path straight away.

Some of our graduates only a few years out of university are now in middle-level managament positions, having taken opportunities and promotions as they arose. Those with 8-12 years experience are now on salaries averaging well over $100 K pa.

Below are some typical positions and average annual salaries that all accounting graduates can aspire to fill as their career progresses in large organisations such as those that sponsor the Bachelor of Accounting program.

*Source:  Graduate Careers Australia.

Senior Qualified Accounting Positions in Industry and Commerce

Chief Financial Officer (CFO)

The CFO or Finance Director advises the Chief Executive Officer (CEO) of the organisation with respect to financial reporting, stability, liquidity and growth. Directs and supervises the work of the Controller, Treasurer, and sometimes the Internal Audit Manager. Other duties may include maintenance of relationships with stockholders, financial institutions, and the investment community. Frequently, the CFO or Finance Director is a member of the Board of Directors and/or the Executive Committee and as such, contributes to overall organisation planning, policy development and implementation.

Typical base salary of a CFO in a large organisation: $210K. Read about the number of CFOs now making the move to CEO.

Finance Manager: prepares reports for management, summarising the business's financial position in areas of income, expenses, capital usage and cash flows, and assists with the preparation of strategic plans, budgets and financial forecasts. Finance managers also work out funds requirements and strategies to invest surpluses. They also develop accounting and management policies and procedures.

Typical base salary of a Finance Manager in a large organisation: $135K.

Financial Controller: functions as the Chief Accounting Executive responsible for organising, directing, and controlling the work of the accounting personnel in collecting, summarising, and interpreting financial data for the use of management, creditors, investors, and taxing authorities. As a member of the top management team, helps develop forecasts for proposed projects of the organisation, measures actual performance against operating plans and standards, and interprets the results of operations for all.

Typical base salary of a Financial Controller in a large organisation: $150K.

Financial Accountant:  supervises the work performed in one or more of the general accounting areas such as receivables, payables, or financial (statutory) reporting to the market. May also be responsible for special reports and analyses involving financial data.

Typical base salary of a Financial Accountant in a large organisation: $100K.

Management Accountant:  provides reports to management on all aspects of the organisation, from product marketing strategies to logistical operations, in order to increase value creation for customers, owners and other stakeholders. Experts in product costing techniques, the management accountant is key to any cost control measures being undertaken.

Typical base salary of a Management Accountant in a large organisation: $100K.

Senior Management Positions in Professional Practice

Business Services/Management Consultant: performs and/or supervises detailed consulting assignments involving various functional areas (e.g. computing, personnel, marketing) within client organisations.

Typical base salary of a senior manager in Business Services: $125K.

Internal/External Auditor:  responsible for audit program approval, personnel scheduling, audit working papers review, financial statement disclosure footnote approval, day-to-day client relationships, determination of billings for engagements, and training and evaluation.

Typical base salary of a senior manager in Audit: $110K.

IT Auditor: involved in the planning and implementation of internal controls in the Information Technology area. Identifies areas of IT risk and opportunities to improve IT business processes. Extensive interaction with financial and operational auditors.

Typical base salary of a senior manager in IT Audit: $140K.

Tax Consultant: approves corporate tax returns prepared by Audit Staff, and is available to Audit Staff for consultation. Also performs tax planning and preparation for individuals, estates, trusts, and small businesses, and researches unusual tax matters.

Typical base salary of a senior manager in Tax: $140K.

Corporate Finance: deals with financial strategies relating to mergers and acquisition, disposals, valuations and capital raising valuations, lead advisory and fund placement.

Typical base salary of a senior manager in Corporate Finance: $160K.