Starting accounting salaries are expected to rise an average of 3.3 percent for all positions throughout this year, according to financial recruiting firm Robert Half’s 2013 Salary Guide for accounting and finance professionals.
Overall, the firm found the finance industry is in good shape compared to the continuing struggles of the overall economy, with some salaries in the field expecting a healthy bump this year. Assistant controllers in smaller organizations, for example, can expect an average bump of as much as 4.5 percent.
That’s compared to a median salary increase of 3 percent across all industries, according to a report by Buck Consultants, which noted many companies are remaining economically cautious. Accounting salaries come out ahead, Half said, because specially qualified employees are not always easy to find. That talent crunch has helped to drive salaries higher.
“A supply and demand imbalance exists for specialized talent within many professional occupations, including information technology and accounting,” said Max Messmer, chairman and CEO of Robert Half International, in a press release. “To attract the best employees, companies must stay up-to-date on compensation levels.”
As the economy continues its slow recovery, the study found that employers are looking toward growth, and therefore focused on finding more certified accountants and financial analysts to help spur that expansion. CPA certification is one of the most sought-after designations for potential employees, and an MBA is often desired for senior finance and analyst positions. The study notes that demand for financial analysts exceeds supply in some cases.
Entry-level accounting and finance professionals are also becoming more popular hires, and those surveyed said that experience in the field while in college is extremely important to today’s hiring decisions. The overwhelming majority — 91 percent — said that gaining experience in the field is either “very important” or “somewhat important.” Because of the new demand, many employers are taking a closer look at GPAs and campus involvement when making entry-level hiring decisions.
Other in-demand positions listed in the survey are business systems analysts, compliance officers, auditors, IT auditors, cost accountants and controllers.
[cf]skyword_tracking_tag[/cf]
No Comment