Managing the financial health of a business is no joke! It’s quite a complicated process to track the expenses, reconcile accounts, or ensure correct financial reporting.
Bookkeepers perform this complex duty. They are considered the backbone of business, and skilled bookkeepers are valuable assets for any company, but how much do they earn?
In the U.S., how much bookkeepers get paid varies a lot based on their experience, where they work, and their field. Let’s look into what affects bookkeeper pay and how much a bookkeeper makes an hour in the U.S.
Hourly Rate of an Average Bookkeeper
On average, bookkeepers earn between $22.39 and $31.42 per hour. Experienced bookkeepers make more than entry-level bookkeepers. The typical yearly income for a bookkeeper in the USA is $44,850, with the lowest paid starting at $37,068 and the highest earning at $58,695.
Factors Influencing Hourly Rates of Bookkeepers
Experience: Entry-level bookkeepers usually make less money at the start. But as they get better at their job, they start making more money. An experienced bookkeeper can ask for a higher hourly rate due to the complexity of the tasks they handle.
Location: How much you get paid can change based on the area. For example, bookkeepers in big cities or places where living is costly, like New York, San Francisco, Seattle or Los Angeles, usually make more than those in smaller towns or out in the countryside.
Industry: The type of job you have can also affect how much you get paid, as only some industries pay their bookkeepers the same. Bookkeepers in specific fields, like law or healthcare, might make more because they need special skills for those jobs.
Certification and Skills: If you’re a certified bookkeeper or really good at using software like QuickBooks, Xero, or Microsoft Excel, you can charge more than someone who needs to be certified. A bookkeeper with a CPA degree can demand a higher salary.
Freelance vs. In-house: Bookkeepers who work for themselves can decide how much they want to charge, which can range from $25 to $50 an hour, depending on how well-known they are, who their clients are, and what they offer. On the other hand, bookkeepers who work for companies usually get a fixed salary, which means they get paid an hourly rate that’s set within a specific range.