Accountant in Watertown, SD

Here is a comprehensive career guide for Accountants considering a move to Watertown, South Dakota.

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The Salary Picture: Where Watertown Stands

As a local, I can tell you that Watertown offers a compelling salary-to-cost-of-living ratio for accountants. The median salary for an accountant here is $83,368/year, equating to an hourly rate of $40.08/hour. This is slightly below the national average of $86,080/year, but this gap narrows significantly when you factor in Watertown's affordability. With a cost of living index of 89.5 (where the US average is 100), your dollar stretches further here than in most metro areas.

The local job market is stable but niche. There are approximately 45 accountant positions in the metro area, supported by a population of 22,859. The 10-year job growth projection is 4%, indicating steady, though not explosive, opportunity. For a licensed CPA, this can mean less competition for roles compared to larger cities.

To understand where you fit, here’s a breakdown of typical salaries by experience level in the Watertown market.

Experience Level	Description	Annual Salary Range (Est.)
Entry-Level	0-2 years, non-CPA, bookkeeping, AP/AR clerk	$55,000 - $68,000
Mid-Level	3-7 years, CPA candidate, staff accountant	$68,000 - $85,000
Senior	7-12 years, CPA, senior/staff manager	$85,000 - $105,000
Expert	12+ years, CPA, controller, partner track	$105,000 - $130,000+

Insider Tip: The jump to the "Mid-Level" category is where the median $83,368 salary typically lands. If you have your CPA license and 5+ years of experience, you can command a salary in the upper end of this range, often with additional bonuses based on firm profitability or corporate performance.

Compared to other South Dakota cities, Watertown is a strong contender:

• Sioux Falls: Higher salaries (median ~$88,000) but a significantly higher cost of living (index ~95). The job market is much larger but more competitive.
• Rapid City: Salaries are similar to Watertown, but the cost of living is slightly higher (index ~92). The economy is more tourism-driven, which can affect accounting roles.
• Aberdeen: Salaries are generally lower, but so is the cost of living. Watertown offers a better balance for career-minded accountants seeking growth.

The Real Take-Home: After Taxes and Rent

Let’s get practical. How does a $83,368 salary feel in Watertown? South Dakota has no state income tax, which is a massive financial advantage. This immediately boosts your take-home pay compared to most other states.

Here’s a monthly budget breakdown for a single accountant earning the median salary. (Note: Figures are estimates and will vary based on your personal deductions, health plan, and 401(k) contributions.)

Category	Monthly Cost (Est.)	Notes
Gross Monthly Pay	$6,947	$83,368 / 12
Federal Taxes (Est.)	~$950	Varies by filing status & dependents.
FICA (7.65%)	~$531	Social Security & Medicare.
Net Take-Home Pay	~$5,466	After federal taxes & FICA.
Average 1BR Rent	$760	A solid, modern apartment in a decent area.
Utilities (Elec/Gas/Water)	$180	Can be higher in older buildings.
Groceries	$350	Mid-range for a single person.
Car Payment & Insurance	$500	Essential in Watertown; public transport is limited.
Health Insurance	$300	If employer-sponsored plan is available.
Retirement Savings (10%)	$695	Critical for long-term growth.
Discretionary Spending	$2,681	Leftover for dining, entertainment, savings.

The Home Buying Question: With over $2,600 in discretionary funds, buying a home is very feasible. The median home price in Watertown is around $250,000. A 20% down payment would be $50,000. With the generous take-home pay and low cost of living, saving for that down payment could take 2-3 years with disciplined budgeting. Many local accountants I know own homes within 5 years of moving here.

Where the Jobs Are: Watertown's Major Employers

Watertown’s accounting jobs are spread across a few key sectors: healthcare, agriculture, manufacturing, and local government. The job market is tight, so networking is crucial. Here are the major employers to target:

1. Avera Sacred Heart Hospital: One of the largest employers in the region. They have a large in-house finance department for everything from patient billing to system-wide budgeting. Hiring trends are stable, with a slight uptick in demand for accountants who understand healthcare billing software (like EPIC).
2. Watertown Regional Medical Center (WRMC): The other major hospital system. Similar needs to Avera, often seeking accountants with a focus on regulatory compliance and grant management.
3. Sioux Valley Energy (SVE): A major rural electric cooperative based in Watertown. They have a robust accounting team for financial reporting, member services accounting, and capital project budgeting. This is a stable, well-paid employer with excellent benefits.
4. Watertown Municipal Utilities: The city’s own utility company. They need accountants for utility billing, capital improvement project accounting, and municipal finance. These roles are often civil service positions with strong job security.
5. Dakota Growers Pasta Co. / Local Agriculture: While the pasta plant has changed ownership, the broader agricultural sector (co-ops, grain elevators, agribusiness) is huge. Accountants here specialize in commodity accounting, inventory management, and seasonal cash flow.
6. Watertown School District (84-1): The largest school district in the area. They have a dedicated business office that handles budgets for multiple schools, federal grants, and teacher payroll. A great path for those interested in public sector accounting.
7. Local CPA Firms (e.g., Bricker & Associates, Eide Bailly): These firms serve the local small business community. Hiring is less frequent but when they do, they value CPAs with strong client relationship skills. They often hire from within their internship programs.

Insider Tip: The "hidden" job market is strong here. Many positions aren't advertised publicly. Join the South Dakota Society of CPAs (SDSCPA) and attend their local chapter meetings in Watertown or Sioux Falls. A simple introduction can lead to an interview.

Getting Licensed in SD

South Dakota has a straightforward licensing process, managed by the South Dakota Board of Accountancy. If you're moving from another state, you'll need to ensure your credentials are in order.

Requirements:

1. Education: 150 semester hours of college credit, including a bachelor's degree.
2. Exam: Pass all four sections of the Uniform CPA Exam.
3. Experience: One year of qualifying experience (typically under a licensed CPA). This can be public accounting, industry, government, or academia.
4. Ethics Exam: Pass the AICPA Professional Ethics Exam.

Costs (Approximate):

• CPA Exam Application & Fees: ~$1,000 - $1,500 (varies by state).
• Initial License Fee: $150 (as of 2023).
• Annual License Renewal: $125.
• Background Check: ~$50.

Timeline to Get Started:

• If you already have a CPA license from another state, you can apply for reciprocity. The process can take 2-3 months. South Dakota is not a member of the CPA Mobility Act, so you must apply for licensure if you plan to work here permanently.
• If you are starting from scratch (exam, experience, license), expect a 12-18 month timeline from the day you start your first exam section.

Resources: Always check the official website for the South Dakota Board of Accountancy for the most current forms, fees, and rules.

Best Neighborhoods for Accountants

Watertown is a compact, driveable city. Your commute will rarely exceed 15 minutes, regardless of where you live. Choosing a neighborhood is more about lifestyle than proximity to specific offices.

1. Downtown (City Center): The historic core. You'll find converted loft apartments and older homes. It's walkable to local cafes, the Redlin Art Center, and the Watertown Civic Arena. Rent for a 1BR here is around $700-$850/month. Best for young professionals who want to be near the action.
2. South Side / Near Lake Kampeska: This area features newer apartment complexes and single-family homes. It's quiet, family-friendly, and close to shopping centers (like the Watertown Mall) and the lake. A modern 1BR apartment will cost about $750-$900/month. Ideal for those who want modern amenities and outdoor recreation.
3. East Side / Near Highway 212: This area is a mix of older and newer homes. It's convenient for commuting to the industrial parks on the east side of town (home to many manufacturing companies). Rent is very reasonable, often $650-$750/month for a decent 1BR. Good for budget-conscious professionals.
4. North Side / Near the Airport: This is a more residential, established area with larger homes. It's quiet but a 10-minute drive to downtown or the hospital. Rent for a 1BR is around $700-$800/month. Perfect for those seeking space and a quieter family-oriented environment.
5. West Side / Near 8th Avenue: This is a commercial corridor with some mixed-use buildings. It's close to the hospital (Avera Sacred Heart) and has easy access to I-29. Rent is similar to the East Side, about $650-$800/month. A practical choice for hospital employees.

Insider Tip: If you're working for Avera Sacred Heart or WRMC, living on the West or South Side will give you the shortest, easiest commute, especially during South Dakota's snowy winter months.

The Long Game: Career Growth

In Watertown, career growth for accountants is less about job-hopping and more about specialization and taking on broader responsibilities.

• Specialty Premiums:

  • CPA License: This is the single most important credential. It can add a $10,000-$15,000 premium to your salary over a non-CPA role.
  • CGMA (Chartered Global Management Accountant): Valued in the manufacturing and agricultural sectors (e.g., at Sioux Valley Energy or local co-ops). Can lead to managerial roles.
  • ERP Software Expertise (SAP, Oracle, Microsoft Dynamics): Critical for larger employers like the hospitals and utilities. Specialists in these systems can command higher salaries and are more recession-proof.
  • Forensic Accounting: A niche field, but local firms and the state government occasionally have needs for fraud examination, especially in the public sector.

• Advancement Paths:

  • Public Accounting: Staff Accountant → Senior → Manager → Partner (at a local firm). The path is long but stable.
  • Corporate/Industry: Staff Accountant → Accounting Manager → Controller → CFO. The controller role is a major pivot point; it often requires CPA and 8-10 years of experience, with salaries hitting $100,000+.
  • Government/Non-Profit: Staff Accountant → Budget Manager → Finance Director. These roles offer incredible job security and pension benefits but may have a slightly lower salary ceiling.

• 10-Year Outlook:
  With a 4% job growth rate, you won't see the frantic activity of a tech hub. However, the stability is a key asset. The wave of retirements among the Baby Boomer generation is hitting accounting in Watertown, opening up senior and management positions. As automation handles more transactional work (AP, bookkeeping), the demand will shift toward accountants who can analyze data, provide strategic insights, and manage complex financial projects. Continuous learning in data analytics tools (like Power BI or Tableau) will be a significant advantage.

The Verdict: Is Watertown Right for You?

Weighing the facts, Watertown is not for everyone, but it’s a hidden gem for certain accountants.

Pros	Cons
Excellent salary-to-cost-of-living ratio. Your money goes far.	Limited job market. Only ~45 positions; the wrong fit could mean a long wait for the next opportunity.
No state income tax. A direct boost to your take-home pay.	Relatively low job growth (4%). Limited upward mobility if you're hyper-ambitious.
Stable employers (healthcare, utilities, government). Less volatility.	Small, close-knit networking circle. Building professional connections takes time.
Short commutes and easy lifestyle. More time for life outside work.	Cultural and dining options are limited compared to a major metro area.
Strong demand for CPAs and specialized skills. You can stand out.	Harsh winters. Long, cold, and snowy months can be challenging for newcomers.

Final Recommendation:
Watertown is an outstanding choice if you value quality of life, financial stability, and job security over rapid career advancement and urban excitement. It's ideal for:

• Early-career accountants who want to buy a home quickly and build a strong financial foundation.
• Mid-career CPAs seeking a better balance between work and family, away from the grind of larger cities.
• Experienced controllers or managers looking for a stable final chapter before retirement.

If your primary goal is to climb a corporate ladder as fast as possible in a bustling, competitive environment, Watertown might feel limiting. But if you want a fulfilling career that supports a comfortable, grounded life in a friendly community, it's a fantastic fit. My advice: visit for a weekend. Drive around the neighborhoods, eat at a local diner, and see if the pace feels right for you.

FAQs

Q: Is a CPA license absolutely necessary to get a good accounting job in Watertown?
A: No, but it's highly advantageous. You can get a solid staff accountant role at a hospital or school district without it, especially with 5+ years of experience. However, the path to senior manager, controller, or partner at a CPA firm is nearly impossible without your license. The median salary of $83,368 is more readily achievable with a CPA.

Q: How do I network in such a small city?
A: It's about being visible. Join the South Dakota Society of CPAs (SDSCPA) and attend their events in Sioux Falls or Watertown. Volunteer for a local non-profit's finance committee. Take a continuing education class at Lake Area Technical College (LATC)—it's a fantastic way to meet local professionals. And don't underestimate the power of a friendly chat with the barista at a downtown coffee shop; people talk.

Q: What's the tech scene like for accounting software?
A: It's a blend. Larger employers (Avera, SVE) use enterprise-level systems like SAP, Oracle, or EPIC. Many small-to-mid-sized businesses run on QuickBooks, Sage, and Microsoft Dynamics. Cloud-based accounting is growing, but many local firms still prefer on-premise solutions for security. Being proficient in both a major ERP and a popular SMB software like QuickBooks makes you versatile.

Q: Can I work remotely for a company outside of Watertown?
A: Yes, but with a caveat. You can work remotely for a company based in another state, but if you establish residency in South Dakota and perform the work here, you are subject to South Dakota's licensing laws if you are providing public accounting services (attest, audit, tax prep for the public). For private industry roles, licensing is not an issue. Always clarify your work arrangements.

Q: What are the winters really like?
A: They are long. From late November to early April, you can expect snow and sub-freezing temperatures. A reliable, all-wheel-drive vehicle is a near-necessity. The city is excellent at plowing, but you need to be prepared. However, the community embraces winter with activities like ice fishing on Lake Kampeska, hockey at the arena, and cozy indoor gatherings. It's a part of the culture.

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Data Sources: BLS Occupational Employment Statistics, South Dakota Board of Accountancy, SD Department of Labor & Regulation, local real estate listings, and employer job postings. All salary data is provided as specific to the Watertown, SD, metropolitan area.