2011 Hiring Outlook for Accounting and Finance

2011 Hiring Outlook for Accounting and Finance

Companies that made deep cuts to their staff levels during the recession appear more likely to make selective hires of accounting and finance professionals in the coming year. Businesses are hiring not only to ease the burden on existing staff who have been shouldering extra workloads during the downturn but also to better position themselves for growth. To improve their ability to attract the best people for high-demand and hard-to-fill roles, some firms are demonstrating a willingness to modestly enhance compensation.

These and other trends are identified by Robert Half in the newly released 2011 Salary Guide. The guide forecasts that accounting and finance starting salaries will rise an average of 3.1 percent in the coming year, up from 0.5 percent as reported in last year’s guide. The Salary Guide lists average starting pay for nearly 300 positions in accounting, finance, banking and financial services.

Modest pay increases forecast for most management roles

If you’re a professional looking to pursue management-level employment opportunities in 2011, you can expect to find average starting compensation offered at most corporate and public accounting firms to be slightly above 2010 levels, the guide predicts. In the corporate accounting sector, for instance, directors of accounting at organizations of all sizes can expect average starting salaries to rise by between 2.3 and 3.1 percent.

Base salaries for senior-level roles such as treasurer and vice president of finance in corporate accounting are projected to rise less than 2 percent, but this does not take into account bonuses and incentives. Advanced degrees or professional certifications – such as the certified public accountant (CPA) and certified management accountant (CMA) – are also assumed at this level, and can increase average starting compensation by as much as 10 percent.

Tax services specialists hired for senior-level roles at large (more than $250 million in sales) or midsize public accounting firms ($25 million to $250 million in sales) could see starting compensation increase by as much as 3.9 percent over 2010 levels. Professionals joining large and midsize firms to serve in management services positions likely will earn 3 percent or more compared to last year, even for positions requiring only a year of experience. Compensation levels for senior-level tax accountants hired by large and midsize firms will experience some of the most significant increases, according to the guide – between 4.5 and 4.9 percent.

The projected 2011 salary ranges presented in this article are national averages. To calculate the approximate salary range for specific accounting and finance positions in your area and to download a copy of the newly released 2011 Salary Guide from Robert Half, go to http://www.roberthalffinance.com/salarycenter.