Robert Half Releases 2011 Guide to Accounting and Finance Salaries
Annual Study Projects Slightly Higher Salaries as Key Roles Prove Challenging to Fill
MENLO PARK, CA, Oct. 12, 2010 -- With some signs pointing to a slight uptick in financial hiring, compensation for accounting and finance professionals should see commensurate gains. According to the recently released 2011 Salary Guide from Robert Half, starting salaries in these fields are expected to rise an average of 3.1 percent in the coming year. Business analysts, tax accountants and financial analysts are among the professionals projected to see notable increases.
Robert Half has been publishing its annual Salary Guide since 1950 and is the world's first and largest staffing services firm specializing in accounting and finance. The data in the 2011 Salary Guide are national average starting salaries and based on an analysis of the thousands of job placements managed by the company's U.S. offices. The 2011 Salary Guide is accompanied by the Robert Half Salary Center, featuring additional analysis on hiring and compensation trends and the Robert Half Salary Calculator, which allows users to quickly determine the starting salary range for their specific position and location.
"Companies seek experienced professionals who can improve efficiencies, facilitate business growth and manage rising business volume, yet many employers continue to report challenges finding the precise talent they need," said Max Messmer, chairman and CEO of Robert Half. "In response, some firms are improving their compensation packages to attract the best candidates for high-demand roles."
While salaries for most specialties are expected to rise 1 percent to 3 percent next year, following are some of the positions anticipated to see higher increases:
- Senior business analysts are expected to see the largest boost in base pay in 2011, with their average starting salary rising 5.0 percent to the range of $66,500 to $85,500.
- Projected base pay for tax accounting managers at midsize companies ($25 million to $250 million in sales) is $69,500 to $92,500, up 4.9 percent.
- Starting salaries for financial analysis managers at both large (more than $250 million in sales) and midsize companies are predicted to climb 4.8 percent; senior financial analysts at midsize companies are predicted to see their base compensation rise to $60,000 to $78,000, a 4.7 percent increase.
- Senior compliance analysts at small companies (up to $25 million in sales) are anticipated to receive starting salary offers between $58,750 and $75,250, a 4.1 percent increase.
- Average starting salaries for tax services senior managers and directors as well as senior tax accountants at midsize public accounting firms ($25 million to $250 million in sales) are expected to climb 3.9 percent in the year ahead.
- Base pay for senior auditors at midsize public accounting firms is expected to range between $62,000 and $81,750, up 3.8 percent over 2010 levels.
- Within financial services, compliance managers can anticipate a 4.4 percent gain in base pay, to a range of $64,500 to $89,000.
"In addition to strong functional expertise, companies seek finance staff who possess outstanding soft skills and proficiency with relevant software packages," added Messmer. "Professionals also can enhance their marketability -- and earning power -- by obtaining an industry-recognized accreditation, such as the certified public accountant designation."
About the Salary Guide from Robert Half
All salaries listed in the 2011 Salary Guide are national averages. Because compensation varies significantly by geographic market, the guide includes information to customize the data for more than 130 U.S. cities.
For decades, companies have consulted the Salary Guide to determine appropriate compensation for accounting and finance professionals at all levels. In addition, educational institutions and research entities such as the U.S. Department of Labor's Bureau of Labor Statistics have referenced the guide for the most comprehensive information on compensation and hiring.
About Robert Half
Robert Half was founded in 1948 and is traded on the New York Stock Exchange. Its financial staffing divisions include Accountemps, Robert Half Finance & Accounting and Robert Half Management Resources, for temporary, full-time and senior-level project professionals, respectively. The company has more than 350 staffing locations worldwide and offers online job search services on its divisional websites, all of which can be accessed at www.roberthalf.com.