What Is the Starting Salary for Forensic Accounting

First, let's take a look at the job of forensic accounting and figure out what needs to be a part of it. What are your responsibilities and options going to be when it comes to finishing your certification and getting a job? From the very beginning, forensic accountants essentially perform investigative auditing and accounting. They investigate issues like fraud and then they create analyses that will be used in the court of law. Is this a job that you find yourself fit for, and how do you feel about being involved in legal matters?

What kind of cases will forensic accountants be called in to handle? You might find that you are called in to take a look at insurance claims and to look into personal injury claims. Business disputes are things that might be called into question. You might even be summoned or retained for duty in financial fraud cases or even in criminal investigation. You may do work for a lawyer who wants to put you on the witness stand as a professional witness; in this case, one of the skills you need to have is the ability to give clear and concise testimony regarding complex financial information. You will need to break down this information into a form that the layman can understand.

With those responsibilities in mind, you may be wondering what kind of recompense you can expect. Like with any job, the pay will vary depending on a number of different factors. For instance, you may find that you make $30,000 in southern Illinois, but a similar job that you take in Chicago can net you upwards of $60,000. With time and with experience, this is a job that you can expect to net you six figures. There are forensic accountants who can end up in careers where $150,000 a year is not unheard of. With the average annual salary of a forensic accountant coming out to $74,000, you'll see that this is definitely a job with a future.

You'll need to start off with a degree in accounting, whether you decide on an associate degree, a bachelor's, or a master's. Because of the issues that are handled by a forensic accountant, at least a bachelor's is required. After you graduate, you will need to become a Certified Public Accountant or a CPA. After that, you will need to get certification that will allow you to act in a legal capacity. There are online courses that can help you prepare. Then you will need to take the American College of Forensic Examiners Forensic Accounting Certification. Every year you will then need to complete 15 hours of continuing education requirements.

Take some time and evaluate how this job could work for you. Is this the type of career that you want be looking into? What are your options and what do you want to do? These are all important questions to ask.