Finance and Accounting professionals are critical parts of their law firms, and essential in tracking and analyzing invoices, budgets, costs, taxes, and cashflow — some of the most vital aspects of any business.
People working in these positions need to have an eye for every detail and a head for numbers in everything they do. They’ll often review aspects as small as single receipts or as large as annual audits, checking details and making sure everything is in order for the firm. They also prepare important reports for management when needed.
Finance and Accounting professionals need to think on their feet and often find creative solutions for problems they detect. If you have a passion for details, strong verbal and written communication skills, and are great at multitasking and solving problems, a job in a law firm’s Finance and Accounting department may be an excellent fit for you.
Typical Duties and Responsibilities
- Perform monthly, quarterly, and annual accounting activities
- Reconcile expenses and budgets
- Coordinate and complete annual audits
- Review financial reports as necessary
- Develop, maintain, and analyze budgets, preparing periodic reports that compare budgeted costs to actual costs
- Improve systems and procedures and initiate corrective actions
- Prepare and adjust journal entries
- Oversee taxes and abide by federal regulations
Education and Background
This position requires a bachelor’s degree in finance, accounting or a related field;
CPA certification is preferred.
Skills and Proficiencies
- Extensive knowledge of U.S. Generally Accepted Accounting Principles (GAAP)
- Proficient skills in Microsoft Office Suite, accounting software and databases, and QuickBooks
- Excellent organizational, problem-solving, and project-management skills
- Strong verbal and written communication skills
According to Payscale the median annual salary of a law firm Finance and Accounting professional with
1 Year of Experience:
- Orlando, Florida: $43,000
- Tampa, Florida: $40,000
- Jacksonville, Florida: $50,000
- Miami, Florida: $51,000
- Atlanta, Georgia: $55,000
- Chicago, Illinois: $65,000
- Houston, Texas: $65,000
- Los Angeles, California: $66,000
- New York City, New York: $70,000
- Seattle, Washington: $54,000
- Overall: $56,000
5 Years of Experience:
- Orlando, Florida: $73,000
- Tampa, Florida: $70,000
- Jacksonville, Florida: $70,000
- Miami, Florida: $75,000
- Atlanta, Georgia: $75,000
- Chicago, Illinois: $85,000
- Houston, Texas: $85,000
- Los Angeles, California: $86,000
- New York City, New York: $85,000
- Seattle, Washington: $79,000
- Overall: $78,000
Similar Job Titles
The career path for a Finance and Accounting professional starts with obtaining a bachelor’s degree in finance, accounting, or a related field. Earning certification as a Certified Public Accountant (CPA) is not always a requirement, but can help to grow a career in this area.
Demand for Finance and Accounting professionals should increase as global business grows, as with that growth comes more scrutiny. Not just global companies have this need — national, regional, and local businesses, which can and do include law firms of every size, need quality finance and accounting work.
According to the U.S. Bureau of Labor Statistics, the accounting and auditing services sector (which typically includes legal Finance and Accounting professionals), is expected to grow six percent through the year 2028. This is an about average growth rate, but a stable one for candidates interested in this work.
The typical work hours for a Finance and Accounting professional at a law firm are from 9 a.m. to 5 p.m. Monday through Friday in an office setting. However, longer or different hours can be necessary. For example, overtime hours may be required at certain times of the year, like the end of a firm’s budget year or during tax season.
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