In terms of career choices, bookkeeping provides flexibility and options in terms of the amount of education required. According to Salary.com, more than 40% of people working in the bookkeeping professional have only an associate degree, diploma, or certificate. More than half of those professionals work for companies with less than 25 employees, meaning bookkeepers with less education tend to get hired by small businesses. The median bookkeeping salary for those individuals is less than $36,000 per year. When compared to labor-intensive jobs like service professionals or manufacturing, that salary range may seem quite comfortable for a job with traditional business hours that requires little education.

However, the median bookkeeping salary landscape changes significantly with continued education and experience. Other factors such as company size also play a role in salary figures. For example, bookkeepers with an associate degree or less in terms of their education who work for companies with over 3,000 employees can expect to earn about $5,000 more per year than their small business counterparts. However, when a bookkeeping professional continues their education on to the bachelor level, starting salaries increase into the low-to-mid $40,000 range. Two more years of school has nearly a $10,000 per year impact in this particular field.

Naturally, as with any other profession, bookkeeping salary norms fluctuate with company size, geographic location, education, and experience. However, bookkeeping is one of the few fields that provides for unlimited income potential for those who choose to go freelance. There are very few professions which allow for an individual to launch their own private practice with only a diploma, certificate, or associate degree. However, since bookkeepers normally handle recording of business transactions, reconciliation of accounts, and the preparation of internal financial reports, the skills required and the education needed are not terribly complex.

In terms of a bookkeeping salary for a freelance bookkeeper or private practice owner, there are vast differences. A great deal of entrepreneurial spirit is required since you must continuously advertise your services and seek out clients. An understanding of business management, marketing, and business planning are required to make a practice successful. However, for those who master these skills, a bookkeeping practice can potentially double or triple the yearly salary of a bookkeeper working for an employer. With the support of professional organizations, business mentors, and other professionals, even a bookkeeper with only a bookkeeping certificate can earn as much as a professional accountant, without as much responsibility or regulatory requirements.