and Finance Salaries Forecast to Rise in 2006
2006 - Heightened competition for accounting and finance professionals
will lead to increases in base compensation this year, according
to recent research. Starting salaries in accounting and finance
are projected to rise an average of 3.1% in 2006. Research
shows that starting salaries for personnel involved with corporate
governance initiatives, such as internal auditors, information
technology (IT) auditors, and public accountants, are expected
to see the strongest growth.
the second consecutive year, corporate auditors can expect
to see the strongest salary growth. IT auditors can expect
the largest percentage increase in base compensation of
any position in 2006, with average starting salaries forecast
to rise 11.2%, to between $67,000 and $94,250 annually.
Entry-level internal auditors at small companies (up to
$25 million in sales) will see average starting salaries
increase 9%, to between $35,500 and $43,250 annually.
for Staff Drives Salary Increases
accounting firms are raising salaries across the board as
they compete with companies in private industry for top
accounting staff. Average starting salaries for entry-level
accounting professionals at small companies are projected
to climb 6.5%, to between $35,500 and $42,500. Senior managers/directors
at large companies (more than $250 million in sales) can
anticipate a 4.2% increase in average starting salaries,
to between $85,500 and $130,000 annually. Senior accountants
at midsize firms ($25 million to $250 million in sales)
will see base compensation rise to between $50,000 and $70,000,
an increase of 8.8% from 2005.
key findings of the study include the following salary forecasts,
by position and size of company:
Tax managers at midsize companies will see average starting
salaries of between $57,750 and $74,000 annually, up 4.6%
over 2005 levels.
Bookkeepers can anticipate a 6.8% rise in base compensation
in the year ahead.
Entry-level accountants at midsize companies will see
starting salaries rise 4.1% percent, to between $32,000
and $38,250 annually.
Mutual fund accountants can anticipate a 4.7% gain in
base compensation, to between $38,000 and $51,250 annually.
Accounts receivable/accounts payable managers at small
companies will see starting salaries climb 5.2%, to between
$33,750 and $41,500 annually.
demand for accounting and finance professionals is expected
to be particularly strong in the manufacturing, real estate,
and construction industries. The salaries noted above are
national averages; however, hiring activity and compensation
vary significantly by geographic market.
in the salary guide, issued by Robert Half International,
is based on analysis of the thousands of job searches, negotiations
and placements managed each year by the company’s
U.S. offices. The guide does not report continuing or ongoing
salaries because external factors such as seniority, work
ethic, job performance, and training, impact the salaries
of full-time professionals as work histories develop.
2006 Salary Guide can be ordered from www.roberthalf.com
or (800) 474-4253.