Accounting, tax preparation, bookkeeping & payroll services

Industry Group

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Workforce Population
1.09M
2023
Average Employee Age
43.6
2023
Estimated Job Growth
3.12%
10-Year Projection
Average Salary
$87,507
2023
Average Male Salary
$117,061
2023
Average Female Salary
$69,195
2023

About

The top three occupations in the Accounting, tax preparation, bookkeeping & payroll services Industry Group are accountants & auditors, bookkeeping, accounting, & auditing clerks, and tax preparers. On average, full-time employees in the Accounting, tax preparation, bookkeeping & payroll services Industry Group work 43.9 hours per week and have an average annual salary of $98,752. Part-time employees in the same industry work 21.4 hours and earn an average annual salary of $33,029.

The locations with the highest concentration of employees in the Accounting, tax preparation, bookkeeping & payroll services Industry Group are Monroe County (East) PUMA, NY, Bergen County (Central)--Ridgewood Village, Glen Rock & Westwood PUMA, NJ, and Oklahoma County (Central)--Oklahoma City, The Village & Nichols Hills Cities PUMA, OK.

The workforce of Accounting, tax preparation, bookkeeping & payroll services Industry Group in 2023 was 1,093,100 people, with 61.7% woman, and 38.3% men.

In 2023, 71% of the workforce in the Accounting, tax preparation, bookkeeping & payroll services Industry Group was White (776,403 people), of which 60.9% were women and 39.1% men.

Professional, Scientific & Technical ServicesProfessional, Scientific & Management, and Administrative & Waste Management Services

Employment & Salaries

A snapshot of workforce, wages, and opportunities in the Accounting, tax preparation, bookkeeping & payroll services Industry Group.

The workforce in Accounting, tax preparation, bookkeeping & payroll services Industry Group was 1,093,100 people and is concentrated in California (129,812 workers). The average annual salary was $87,507, being $19,780 more than the national average salary, which was $67,727.

Monthly Employment

Start Year
Y-Axis
4.59%
Year-over-year growth
Employment change between February 2022 and February 2023

As of February 2023, there are 902k people employed in the Accounting, Tax Preparation, Bookkeeping, and Payroll Services industry. This represents a 4.59% increase in employment when compared to February 2022.

This chart shows monthly employment numbers for Accounting, Tax Preparation, Bookkeeping, and Payroll Services over time (non-seasonally adjusted).

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Employment by Location

The states that concentrated the largest workforce in 2023 were California (130k), Texas (95.7k), and New York (83.5k).

This map shows the states in the United States shaded by workforce for Accounting, tax preparation, bookkeeping & payroll services Industry Group.

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Yearly Wage Ranking

In 2023, Accounting, tax preparation, bookkeeping & payroll services Industry Group had an average annual wage of $87,507, $19,780 more than the average national salary of $67,727.

The graph shows the position of Accounting, tax preparation, bookkeeping & payroll services Industry Group in the ranking of industries by average annual wage.

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Wage Distribution

0.466
WAGE GINI

Accounting, tax preparation, bookkeeping & payroll services has a wage GINI of 0.466, which is less than than the national average of 0.476. In other words, wages are distributed more evenly in Accounting, tax preparation, bookkeeping & payroll services (shown in red) in comparison to the national average for those wage buckets (shown in gray).

The graphic shows the distribution of average salaries by buckets for Accounting, tax preparation, bookkeeping & payroll services Industry Group workers compared to the entire workforce in the country.

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Occupations

A review of jobs and wages in the Accounting, tax preparation, bookkeeping & payroll services Industry Group.

Accountants & auditors are the most common position with 467,837 workers, but the Accounting, tax preparation, bookkeeping & payroll services Industry Group employs a relatively high number of Bookkeeping, accounting, & auditing clerks and Tax preparers.

The highest average salary in Accounting, tax preparation, bookkeeping & payroll services goes to Lawyers, & judges, magistrates, & other judicial workers.

Occupations Distribution

The graph shows the distribution of employees in the Accounting, tax preparation, bookkeeping & payroll services Industry Group according to occupations. In 2023, the occupations that concentrated the largest number of employees in this industry were accountants & auditors (467,837 people), bookkeeping, accounting, & auditing clerks (108,394 people), and tax preparers (74,605 people)

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Wage by Sex in Common Jobs

$117,061
AVERAGE MALE SALARY
±$4,889
$69,195
AVERAGE FEMALE SALARY
±$2,177

On average, Male workers in the Accounting, tax preparation, bookkeeping & payroll services Industry Group make 1.69 times more than their Female counterparts. This chart shows the sex-based wage disparity in the 5 most common occupations in the Accounting, tax preparation, bookkeeping & payroll services Industry Group.

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Business

Estimates of the sources of the costs and the purchasers of the products in the Accounting, tax preparation, bookkeeping & payroll services Industry Group. Based on estimates from the Bureau of Economic Analysis, this section indicates the amount of money spent by a specific industry in other industries.

The industrial flow illustrates the intermediate inputs and the use of outputs of the Accounting, tax preparation, bookkeeping & payroll services Industry Group.

The Accounting, tax preparation, bookkeeping & payroll services Industry Group gets the most input, by its share of the cost of all intermediate inputs, from the Professional and business services Industry.

California and Florida stand out as the states with the largest number of establishments in the Accounting, tax preparation, bookkeeping & payroll services Industry Group.

Industrial Flow

The closest comparable data for Accounting, tax preparation, bookkeeping & payroll services is from Professional, Scientific & Management, and Administrative & Waste Management Services.

Professional and business services has the highest single input, by dollars, to the Accounting, tax preparation, bookkeeping & payroll services Industry Group, and the largest industry purchasing services from the Accounting, tax preparation, bookkeeping & payroll services Industry Group is Professional and business services.

In this flow diagram, all of the industries listed to the left are those places from which the highlighted industry has made purchases. They are the intermediate inputs to the highlighted industry. All those industries listed on the right side are those industries that have made purchases from the highlighted industry. They are the use of outputs of the highlighted industry. The visualizations below offer alternative ways to see and understand this data.

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Intermediate Inputs

The closest comparable data for Accounting, tax preparation, bookkeeping & payroll services is from Professional, Scientific & Management, and Administrative & Waste Management Services.
HIGHEST INPUT INDUSTRY
  1. Professional and business services
  2. Manufacturing
  3. Finance, insurance, real estate, rental, and leasing

The Accounting, tax preparation, bookkeeping & payroll services Industry Group gets the most input, by its share of the cost of all intermediate inputs, from the Professional and business services Industry. This visualization does not include labor and capital costs.

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Use of Output by Other Industries

The closest comparable data for Accounting, tax preparation, bookkeeping & payroll services is from Professional, Scientific & Management, and Administrative & Waste Management Services.
LARGEST PURCHASING INDUSTRY
  1. Professional and business services
  2. Finance, insurance, real estate, rental, and leasing
  3. Wholesale trade

The Professional and business services Industry purchases the greatest share of products and services from the Accounting, tax preparation, bookkeeping & payroll services Industry Group in order to produce other goods and services. Purchases of the Accounting, tax preparation, bookkeeping & payroll services Industry Group for final consumption by consumers, businesses, or government are not included here.

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Establishments

States with more establishments in 2022
  1. California
    18,464
  2. Florida
    12,763
  3. Texas
    11,072

The charts shows the distribution of establishments in the Accounting, tax preparation, bookkeeping & payroll services industry by states and the number of establishments according to size.

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Diversity

Demographic information on the Accounting, tax preparation, bookkeeping & payroll services Industry Group in the US.

Of the total workforce, 61.7% corresponds to women and 38.3% men. Male employees tend to earn more than Female employees, with average respective salaries of $117,061 and $69,195.

80.5% of workers have a bachelors degree, graduate degree or some college.

Gender and Age

674,917
Women
61.7%
418,183
Men
38.3%

The workforce of Accounting, tax preparation, bookkeeping & payroll services industry in 2023 was 1,093,100 people, with 61.7% woman, and 38.3% men.

The visualization shows the distribution of the workforce by gender and age in Accounting, tax preparation, bookkeeping & payroll services industry.

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Races

In 2023, 71% of the workforce in the Accounting, tax preparation, bookkeeping & payroll services industry was White (776,403 people), of which 60.9% were women and 39.1% men.

Other races that concentrated a significant number of workers were Asian and Two or More Races.

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Educational Levels

The main educational levels achieved by the Accounting, tax preparation, bookkeeping & payroll services workers in 2023 were bachelors degree (462,952 people), graduate degree (252,784 people), and some college (164,268 people).

The chart shows the Accounting, tax preparation, bookkeeping & payroll services workforce by gender and educational level.

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Projections

Growth projections of the Accounting, Tax Preparation, Bookkeeping, and Payroll Services industry, both by number of employees and output, from the Bureau of Labor and Statistics. The national workforce is projected to grow 3.12% in the next ten years. The Accounting, Tax Preparation, Bookkeeping, and Payroll Services industry has a lower projected workforce growth at 3.12%. Its projected 10-year growth in output (20.3%) is lower than the projected national growth in output (20.3%).

Job Growth

For growth projections, the closest comparable industry reported by the Bureau of Labor Statistics is Accounting, Tax Preparation, Bookkeeping, and Payroll Services.
3.12%
Estimated Job Growth
10-year Projection
3.12%
National Growth
10-year Projection

This line chart shows the projected 10-year growth in the number of jobs for Accounting, Tax Preparation, Bookkeeping, and Payroll Services. This industry is expected to grow approximately the same than 3.12%, the average rate of national job growth.

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Output Growth

For growth projections, the closest comparable industry reported by the Bureau of Labor Statistics is Accounting, Tax Preparation, Bookkeeping, and Payroll Services.
20.3%
Estimate Growth
10-year Projection

This line chart shows the projected 10-year growth in output of the Accounting, Tax Preparation, Bookkeeping, and Payroll Services industry.

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