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Oct 12

Accounting, finance starting pay to rise 3.1 percent

Posted by Stephen Taub in tax services senior managerstax accounting managerssenior tax accountantsSenior financial analystsSenior compliance analystssenior auditorssenior auditorssalaryRobert Halffinancial analysis managersFinancecareerscareer/managementbusiness analysis managersAccounting

Stephen Taub

The unemployment rate may be stubbornly stuck above 9 percent and workers in most professions are afraid to ask for raises and feel like they are doing a lot more for the same pay.

However, this is not the case with accounting and finance professionals. According to Robert Half International's 2011 Salary Guide, 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.

"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 to 3 percent next year, some of the positions anticipate seeing higher increases.

According to the survey, business analysis managers are expected to see the largest boost in base pay in 2011, with their average starting salary rising 5 percent to the range of $78,250 to $102,500.

Projected base pay for tax accounting managers at midsize companies-defined as $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 expected to rise 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.

Here are other findings:

  • 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.
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