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Accounting Careers in Michigan
Examining Accounting Careers in Michigan
Michigan is home to around 31,300 accountants, down from 32,570 in 2006. But don’t worry, Michigan still has a hefty population of accountants and even healthier salary growth. In 2006, Michigan accountants earned an average of $59,650 per year. Today they average around $64,330. Although they can be found in just about any city, most accountants live in Detroit, Grand Rapids, and Flint.
Many Michigan accountants are Certified Public Accountants (CPAs). They work in tax prep, payroll, forensics, and other specialties. To become an accountant in Michigan, you must have a bachelor’s degree or higher from an accredited U.S. college or university with a major in accounting or a related field. Many top Michigan firms look for candidates with a master of accountancy (MAcc) or an MBA with an accounting focus.
Salary Trends for Accountants in Michigan
Accountants across the U.S. averaged $67,430 in 2009. Michigan accountants averaged $64,330. Although they make less than the national average, Michigan accountants earn more than accountants living in nearby states such as Ohio ($62,830) and Indiana ($62,580) and other states such as Arizona ($58,500), Kentucky ($54,990), and Nevada ($59,250).
Accountants living in the largest metropolitan areas in the state of Michigan average between $60,120-$68,300 per year. They are:
- Flint: $68,300
- Detroit-Warren-Livonia, MI: $66,150
- Grand Rapids: $63,250
- Lansing-East Lansing, MI: $60,120
The areas listed above are home to nearly 70 percent of the state’s accountants. Both Public Accountants (PAs) and CPAs will find the best opportunities in these cities..
Employment Trends for Accountants in Michigan
There are 31,300 accountants living in Michigan. Many live in the Detroit-Warren-Livonia area (16,980), Grand Rapids (3,090), Lansing-East Lansing (2,060), and Flint (770). Although the number of accountants in Michigan decreased since 2006, the industry overall is expected to grow by 22 percent
The demand for accountants in the U.S. will increase in the coming years thanks to increased public and private scrutiny of companies’ financial activities and an increase in unlawful financial pursuits by companies, crime syndicates, and individuals. While all accountants will have a place in this growing industry, forensic accountants will be in high demand. Forensic accountants are responsible for investigating white-collar crimes such as money laundering, bankruptcies, securities fraud, and embezzlement. They handle contract disputes and they are often called upon to appear as expert witnesses during trials.
For more information about what it takes to become an accountant in Michigan, visit the Michigan Department of Energy, Labor & Economic Growth (DELEG) at http://www.michigan.gov/dleg.
Note: The statistics in this article are taken from the Bureau of Labor Statistics (www.bls.gov).