The prominence of the Accounts Payable department has increased in recent years, so what does the portrait of an average firm’s AP director look like?
According to IOMA’s recent AP compensation survey, the average Accounts Payable director earns $98,457 per year and brings to the table an average of 23.5 years of overall work experience — with around 16 years of experience specific to AP.
The numbers vary slightly depending on the size of the organization.
AP directors at smaller companies (200 employees or less) earn $95,750 annually; the head of AP at companies with between 1,000 to 5,000 employees makes $101,400 per year on average.
The study also broke down the salaries by industry and found that AP directors at manufacturing firms were the highest earners at $121,667.
Here’s an additional salary breakdown by industry:
- Utilities and transportation, $111,667
- Wholesale, retail and distribution, $111,400
- Nonprofits and charitable groups, $85,000, and
- Educational organizations, $74, 143.
Do these salaries seem consistent with organizations in your area? Leave a comment in our Comments Section.