Accountant in Plymouth, MN

Of course. Here is a comprehensive career guide for Accountants considering a move to Plymouth, Minnesota.

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The Salary Picture: Where Plymouth Stands

Plymouth is a key economic hub in the Twin Cities metro, and that’s reflected in its accounting salaries. While it doesn’t have the sheer volume of jobs as downtown Minneapolis or St. Paul, the compensation here is competitive, often exceeding the national average. For a mid-career accountant, the local market offers a solid financial foundation, especially when you factor in the region's overall stability.

The median salary for an accountant in Plymouth is $87,242/year, which breaks down to an hourly rate of $41.94/hour. This is slightly above the national average of $86,080/year, a key indicator that the local market values this profession. With the metro area supporting 155 accountant jobs and a 10-year job growth projection of 4%, you’re looking at a stable, if not explosive, job market.

Experience-Level Breakdown

Your earnings will naturally scale with your experience and credentials (like your CPA). Here’s a realistic breakdown for the Plymouth area:

Experience Level	Years of Experience	Estimated Annual Salary Range
Entry-Level	0-2 years	$58,000 - $68,000
Mid-Career	3-7 years	$75,000 - $95,000
Senior	8-15 years	$95,000 - $120,000
Expert/Manager	15+ years, CPA	$120,000+ (up to $150k+ in corporate roles)

Note: These are estimates based on local market trends. Specializations in tax, forensic accounting, or IT auditing can push these numbers higher.

Comparison to Other Minnesota Cities

While Plymouth pays well, it exists within the broader Twin Cities ecosystem. Here’s how the numbers stack up against other key Minnesota markets. Salaries in the core cities are higher, but so is the cost of living, particularly for housing.

City	Median Salary	Key Market Driver
Plymouth	$87,242	Corporate HQs, Manufacturing, Healthcare
Minneapolis	$92,500	Finance, Banking, Fortune 500 HQs
St. Paul	$89,000	Government, Non-profits, Insurance
St. Cloud	$78,000	Regional Businesses, Higher Education
Rochester	$85,000	Mayo Clinic, Healthcare Administration

Source: Data synthesized from BLS and local salary surveys.

Insider Tip: Don’t just look at the salary number. A role in downtown Minneapolis might pay $10k more, but you could spend that and more on parking and a higher rent for a comparable apartment. Plymouth offers a "sweet spot" of high pay and a more manageable, suburban cost of living.

The Real Take-Home: After Taxes and Rent

Let’s get practical. How far does that $87,242 salary really go in Plymouth? We’ll break it down based on a single filer with no dependents, using standard federal and Minnesota state tax deductions.

Monthly Budget Breakdown for an Accountant Earning $87,242

Category	Monthly Cost	Notes
Gross Monthly Pay	$7,270	$87,242 / 12
Estimated Taxes (Fed, State, FICA)	-$1,850	Approx. 25.5% effective tax rate
Net Take-Home Pay	$5,420	This is your starting point.
Rent (1BR Average)	-$1,201	The city-wide average.
Utilities (Electric, Gas, Internet)	-$200	Varies by season (higher in winter).
Groceries	-$400	For one person.
Car Payment/Insurance/Gas	-$600	Essential in Plymouth; public transit is limited.
Health Insurance (Employer Share)	-$150	Varies widely by employer.
401(k) & Savings (15%)	-$815	Highly recommended for long-term growth.
Discretionary Spending	~$2,054	Left for dining, entertainment, travel, etc.

After essential expenses, you have a healthy cushion for discretionary spending and savings. The key takeaway is that the $87,242 salary provides a comfortable lifestyle in Plymouth.

Can You Afford to Buy a Home?

This is a critical question for many considering a move. The median home price in Plymouth is approximately $385,000. With a 20% down payment ($77,000), you'd need a mortgage of $308,000.

At a current interest rate of 6.5%, your principal and interest payment would be around $1,945/month. Add in property taxes (approx. 1.1% in Plymouth, or $354/month) and homeowner's insurance (~$150/month), and your total housing payment hits $2,449/month.

The Verdict on Homeownership: On a single $87,242 salary, a mortgage payment of over $2,400 would be a stretch, representing nearly 45% of your net take-home pay. Most lenders prefer a debt-to-income ratio below 36%. Homeownership is very possible in Plymouth, but it’s more realistic for dual-income households, those with a larger down payment, or those with significantly higher senior-level salaries.

Where the Jobs Are: Plymouth's Major Employers

Plymouth’s economy is diverse, anchored by healthcare, manufacturing, and the corporate headquarters of major brands. This creates a steady demand for accountants in both private industry and public accounting firms that serve these clients.

1. Medtronic: The global medical device giant has its world headquarters in Plymouth. This is a massive employer for accountants specializing in corporate finance, SEC reporting, cost accounting, and internal audit. Hiring is consistent, with a focus on CPAs for senior roles.
2. Plymouth-based Manufacturers: Companies like Tennant Company (floor cleaning equipment) and Finger Lakes Wine Country (corporate offices) have a significant presence. They need staff accountants, plant controllers, and financial analysts. Hiring trends here are tied to the manufacturing cycle, but these are stable, long-term employers.
3. Healthcare Systems: While major hospitals are in nearby communities like St. Louis Park (Methodist) or Minneapolis (M Health Fairview), their administrative and billing offices often have a Plymouth footprint. Look for roles in medical billing, revenue cycle management, and healthcare compliance.
4. Public Accounting Firms: Regional firms like Lurie and Baker Tilly have a strong presence in the western suburbs, including Plymouth. These are excellent starting points for new grads to gain experience in tax, audit, and consulting, serving the local business community.
5. The Retail Hub: Plymouth is home to the massive West End shopping district and is near the Ridgedale Center. These retail centers require corporate accountants for their management companies, as well as accountants for the individual large-chain stores.
6. Local Government: The City of Plymouth itself, along with the Plymouth-Crystal School District, are consistent employers for government and fund accountants. These roles offer excellent job security and benefits.

Insider Tip: Many accounting roles in Plymouth aren't advertised as "Plymouth-based." Use job search filters for the "55442" and "55447" zip codes, and also look at companies headquartered in the "West Metro" area.

Getting Licensed in Minnesota

To practice as a Certified Public Accountant (CPA) in Minnesota, you must be licensed by the Minnesota Board of Accountancy. This is the single most important credential for advancing your career and earning potential.

State-Specific Requirements

1. Education: You must have 150 semester hours of college credit, including a bachelor’s degree and at least 24 semester hours in accounting and 24 hours in business courses.
2. The Exam: You must pass the Uniform CPA Examination. This is a four-part exam (AUD, BEC, FAR, REG) that is notoriously challenging. Most candidates spend 300-400 hours studying over 6-18 months.
3. Experience: Minnesota requires one year (2,000 hours) of qualifying work experience under the supervision of a licensed CPA. This can be in public accounting, private industry, government, or academia.
4. Ethics Exam: You must pass the AICPA Professional Ethics Exam.

Timeline and Costs

Step	Estimated Time	Estimated Cost
Education & Prep	4-6 years (including 150 hrs)	Varies (tuition)
CPA Exam Fees	6-18 months of study/exam	~$1,500 - $2,000
Application & License	1-2 months after meeting requirements	~$200
Total	~5-8 years from college start	~$2,000+ (excluding tuition)

Insider Tip: Many Plymouth-area employers, especially Medtronic and the larger public accounting firms, offer CPA exam support, including study materials, time off for exam days, and bonus pay upon passing. Always ask about this during interviews.

Best Neighborhoods for Accountants

Plymouth is a sprawling suburb, and your quality of life can change dramatically based on where you live. Here’s a neighborhood guide tailored for an accounting professional.

1. Medicine Lake / Southwest Plymouth:

   • Commute: Excellent. You're minutes from I-494, making it easy to reach Medtronic, the West End, or downtown Minneapolis.
   • Lifestyle: Quiet, residential, with older, more established homes and lakefront properties. Great for those who want peace and space.
   • Rent Estimate: A 1BR apartment here might run $1,250 - $1,400/month.

2. East Plymouth / Near Ridgedale:

   • Commute: Good, but subject to traffic on Highway 55 and I-394. Close to the Minnetonka border.
   • Lifestyle: Highly convenient. You're a stone's throw from the Ridgedale Center, high-end dining, and the vibrant community of Minnetonka. More urban-suburban feel.
   • Rent Estimate: $1,300 - $1,500/month for a 1BR, with many newer luxury complexes.

3. West End / Arden Hills Border:

   • Commute: The best if you work in the retail or corporate hub. You can often bike or take a short drive to work.
   • Lifestyle: Modern, bustling, and built around the shopping district. Full of new construction, restaurants, and amenities. Can feel a bit "commercial" for some.
   • Rent Estimate: $1,400 - $1,600/month for a 1BR in a new building.

4. Near the Bass Lake Road Corridor:

   • Commute: Very central, with easy access to I-94 and I-169. A straight shot to many major employers.
   • Lifestyle: A mix of older, affordable housing and some new developments. It’s a practical, no-frills part of Plymouth that offers good value.
   • Rent Estimate: A 1BR can be found for closer to the city average: $1,150 - $1,300/month.

The Long Game: Career Growth

A $87,242 salary is a great start, but where can you go from here in the Plymouth area?

• Specialty Premiums: Your salary potential increases significantly with specialization.

  • CPA License: Adds a 10-15% premium to your base salary.
  • IT Audit / Cybersecurity: In high demand at large corporations like Medtronic. Can command a 20-30% premium.
  • FP&A (Financial Planning & Analysis): Strategic role that pays well and is a direct path to leadership. Premium of 15-25%.
  • Mergers & Acquisitions (M&A): Primarily with public accounting firms or corporate development teams. High premium, but cyclical.

• Advancement Paths:

  1. Public Accounting: Staff Accountant → Senior Associate → Manager → Director/Partner. This is the classic path, offering diverse experience but with high hours initially.
  2. Corporate (Industry): Staff Accountant → Senior Accountant → Accounting Manager → Controller → CFO. This path offers a better work-life balance after the early years and deep business knowledge.
  3. Government/Non-Profit: Staff → Senior → Manager → Director. Known for stability and great benefits, though salaries may cap lower than in the corporate sector.

• 10-Year Outlook: The 4% job growth in the metro is modest but steady. The biggest shifts will be toward technology integration. Accountants who are proficient with data analytics (Power BI, Tableau), ERP systems (SAP, Oracle), and automation tools will be the most in-demand. Plymouth’s stable corporate base will continue to need these skilled professionals to manage financial health and regulatory compliance.

The Verdict: Is Plymouth Right for You?

Plymouth isn't a bustling downtown core; it's a well-heeled, strategically located suburb that offers a high quality of life for professionals. It’s a place for building a stable career and a comfortable life.

Pros	Cons
Competitive Salaries: Pay is strong relative to the cost of living.	Car-Dependent: You will need a car. Public transit is minimal.
Stable Employers: Home to major, recession-resistant companies.	Limited "Urban" Vibe: Lacks the density and nightlife of a city center.
Excellent Amenities: Top-tier shopping, dining, and parks.	Suburban Sprawl: Commutes within the metro can be long.
Central Location: Easy access to Minneapolis, St. Paul, and the airport.	Weather: Long, cold, and snowy winters are a significant lifestyle factor.
Good Schools: The Plymouth-Crystal school district is highly rated.	Competition: You're competing with talent from the entire metro.

Final Recommendation:
Plymouth is an excellent choice for the pragmatic accountant. If you value a high salary, stable employment with major corporations, and a clean, safe suburban environment with easy access to big-city amenities, you will thrive here. It's ideal for early-career professionals looking to get a strong start and for mid-to-senior level accountants seeking a better work-life balance without sacrificing career trajectory. If you crave a walkable, high-energy urban life, look within the Minneapolis city limits. But for building a solid financial future, Plymouth is hard to beat.

FAQs

1. Do I need a car to live and work in Plymouth as an accountant?
Yes, absolutely. Plymouth is a classic American suburb built around the automobile. While some major employers like Medtronic are on bus lines, most jobs and neighborhoods require a car for a reasonable commute and daily errands.

2. Is the job market for accountants in Plymouth competitive?
It is competitive, but not cutthroat. With 155 jobs in the metro, you're competing with local talent from the U of M and St. Thomas, as well as transplants from other states. Having your CPA or a specialty in a high-demand area like audit or FP&A will make you a standout candidate.

3. What's the biggest surprise for new accountants moving to Plymouth?
The weather and the commute. Locals are accustomed to driving 20-30 minutes in any direction to get to work, and the winter (November through March) is long and requires preparation (a good car, winter tires, proper clothing). Factor this into your lifestyle expectations.

4. Can I get an accounting job in Plymouth without a CPA?
Yes. Many staff and senior accountant roles in corporate settings do not require a CPA, especially for internal reporting. However, without a CPA, your career ceiling will be significantly lower, and you may be passed over for manager and controller positions. It's highly recommended to pursue it.

5. How does the cost of living in Plymouth really compare to downtown Minneapolis?
While Plymouth's rent is lower than trendier Minneapolis neighborhoods (like North Loop or Northeast), the overall cost of living is similar when you factor in higher car expenses. You save on housing but spend more on transportation and potentially heating costs. The net difference is often a wash, but you get more space and a quieter environment in Plymouth.