Education Career Articles

Connect Facebook Connect Twitter Connect Google+ Connect Pinterest Connect Stumbleupon

Salary Information for Internal Auditors

Career News November 15, 2013

Internal auditors are auditors that work exclusively for a company or corporation. Since they give up their independence to work under a company name, they are well compensated for loyalty and performance. Auditors have the responsibility of analyzing the accounts, checkbooks, and company reports to check for any problems or suspicious entries. They prepare information for government agencies, businesses interested in acquisitions, and many other top-level analysts.

How Much Can Internal Auditors Expect to Make?

The median salary for this profession is $50,655, according to HR reports from around the nation. Naturally, this salary changes according to certain job descriptions. Accounting department auditors are paid differently than bankers or entry-level workers. Big cities tend to pay higher salaries since they work with more money and entrust their auditors to protect the company from audits from the government. The salary for an auditor reaches $46,000 per year or soars to $93,000.

Hourly jobs start at $17 though many entry-level auditors earn higher than $50,000, even with minimal experience starting out. Internal auditors are seeing an increase in their salaries, up by about three percent in modern years. The Institute of Internal Auditors ran a compensation study and determined that a whopping 87 percent of firms’ state that they expect salary increases.

What determines the capacity for higher salaries? More hard work is required of these professionals, since they are responsible in overseeing stringent regulatory compliance issues. They do not merely review numbers, but have skills in problem solving and identifying risk factors, helping the company to reach major financial decisions.

Specialization May be the Key

Specializing in a sub-field like fraud cases, IT, forensics, health or safety is an option worth considering. These auditors typically do earn above average salaries because of the extra skills and knowledge involved, as opposed to workers who merely take on financial audits.

Certification also helped boost salary quotes, as internal auditors earned an average of $20,000 more than non-certified workers. There is also the option of unique and nontraditional bonuses, which are given along with a base salary. Perks of the job might include cash awards, gifts, better working conditions, wellness programs, educational reimbursement, and travel arrangements, free of charge.

The best way to ensure that you will maximize earning potential is to study in advance in a reputable college, learning government guidelines, proper accounting methods, and focusing in on local departments of an entity. Cultivating people skills is also effective, as well as earning a top-level degree from a trusted university. A bachelor’s degree in accounting is the degree to aim for, though other students might find related fields such as business administration, managing or a niche field, to be useful for their career aims.

Now is the time to make a change in your life by taking the initiative and furthering your education in a relevant field. It won’t be easy, but when you finish your coursework, you will be happy with how the job market opens up avenues for your skills.

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Why Earn Your Degree from GCU?
  • Options: Choose from a variety of undergraduate and graduate degree programs in Business, Nursing, Psychology, Education & more!
  • Convenience: Complete courses online, on campus, or a combination of both!
  • Earlier Graduation: Our 4-credit courses allow you to complete your degree program in less time.
  • Transfer Friendly: We will request your transcripts, evaluate your graduate coursework, and determine your anticipated graduation date within 24 hours.
  • Quality: Grand Canyon University was founded in 1949 and is regionally accredited. Learn more today!
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Career training since 1963.
  • Gives you the freedom and flexibility to learn on your own time, at your own pace and in your own environment.
  • Complete your education and gain technical skills when and where it's convenient for you!
  • Accredited by the Accrediting Council for Independent Colleges and Schools (ACICS).
  • We Change Lives...One Person At A Time. ®
  • Online Courses
5 Program(s) Found
  • Liberty University provides a worldclass education from a christ-centered worldview
  • 100% online programs at associate, bachelor’s, master’s, and doctoral levels
  • No standardized testing if student meets admission requirements
  • Accredited by the Southern Association of Colleges and Schools Commission on Colleges
  • 87% of Liberty University students receive some form of financial aid
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Averett University is a top-ranked, fully-accredited institution that offers students over 30 undergraduate majors, minors and special programs, and 5 master's programs.
  • Accelerated programs designed for convenience: choose from weekly evening courses at one of Averett's Virginia locations or study online and on your own time.
  • Averett University was named one of Virginia’s top colleges for return on investment, and their average scholarship package lowers the cost of attendance further by almost 40%.
  • Averett offers students learning experiences that mirror real-life situations. This means you can put today's lesson to the test during tomorrow’s workday.
  • Averett University's 12:1 student-professor ratio makes your education a collaborative endeavor based on close relationships between students and faculty.
  • Online Courses

Showing schools in your area

Matching School Ads
5 Program(s) Found
  • Do you have entrepreneurial visions to advance your career in the business world? Learn about the options available at GCU.
  • Earn a competitive bachelor's or master's degree in the areas of business administration, business analytics, accounting, marketing and more.
  • Many of our business degrees have attained elite accreditation from the Accreditation Council for Business Schools & Programs (ACBSP).
  • GCU nurtures the startup spirit, propelling your entrepreneurial visions on a powerful platform with opportunities to help you thrive.
  • Pursue a next-generation education with an online program or join Grand Canyon University's vibrant and growing campus community in beautiful Phoenix, Arizona.
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
1 Program(s) Found
  • Career training since 1963.
  • Gives you the freedom and flexibility to learn on your own time, at your own pace and in your own environment.
  • Complete your education and gain technical skills when and where it's convenient for you!
  • Accredited by the Accrediting Council for Independent Colleges and Schools (ACICS).
  • We Change Lives...One Person At A Time. ®
  • Online Courses
5 Program(s) Found
  • Liberty University provides a worldclass education from a christ-centered worldview
  • 100% online programs at associate, bachelor’s, master’s, and doctoral levels
  • No standardized testing if student meets admission requirements
  • Accredited by the Southern Association of Colleges and Schools Commission on Colleges
  • 87% of Liberty University students receive some form of financial aid
  • Accredited
  • Online Courses
  • Financial Aid
  • Transferable Credits
5 Program(s) Found
  • Boldly pursue your future in business with an online degree from Post University
  • Degrees at all levels with concentrations in Finance, Marketing, and much more
  • Ranked in the Best Online Bachelors Programs for Veterans by US News & World Report
  • Ranked in the Best Online Bachelor’s Programs by the US News & World Report
Good for Working Adults
  • Accredited
  • Online Courses
  • Flexible Scheduling
  • Accelerated Programs
  • Financial Aid
  • Transferable Credits
2 Program(s) Found
  • Averett University is a top-ranked, fully-accredited institution that offers students over 30 undergraduate majors, minors and special programs, and 5 master's programs.
  • Accelerated programs designed for convenience: choose from weekly evening courses at one of Averett's Virginia locations or study online and on your own time.
  • Averett University was named one of Virginia’s top colleges for return on investment, and their average scholarship package lowers the cost of attendance further by almost 40%.
  • Averett offers students learning experiences that mirror real-life situations. This means you can put today's lesson to the test during tomorrow’s workday.
  • Averett University's 12:1 student-professor ratio makes your education a collaborative endeavor based on close relationships between students and faculty.
  • Online Courses

Login to your account

Can't remember your Password ?

Register for this site!