2013 Lannick Finance & Accounting Salary Report (10th Annual Edition)

Most job titles in GTA will enjoy a pay increase in 2013, but 38% may experience a decline

TORONTO, Dec. 13, 2012 /CNW/ - The 2013 Lannick Finance & Accounting Salary Report predicts most finance and accounting professionals can expect a pay raise in 2013, following a similar increase in 2012, but not all job titles will enjoy a similar experience.

The Greater Toronto Area (GTA) is expected to continue to outperform the national market; however, 38% or 11 of 29 job title categories may experience a decrease in the mean salary average paid. Professionals in the remaining 18 categories can expect rises in 2013. Full details can be found in the attached Appendix.

"Lannick has placed and advised over 100,000 finance and accounting professionals since 1985," said Lannick Group President & CEO Peter Jeewan. "No organization knows better the employment and salary trends in the GTA, and the professional skills and competencies employers and candidates need alike, to stay competitive with evolving economic conditions and opportunities."

Finance and accounting professionals who will be in particular demand in the GTA during 2013 include:

  • Manager of Planning & Analysis - 7% average salary increase
    Rarely found outside of the country as this position requires extensive Canadian experience.
  • Tax Manager - 8% average salary increase
    This job has grown more complex with an increasing requirement for jobholders to possess international tax knowledge.
  • Payroll Administrators - 14% average salary increase
    These professionals must have a comprehensive knowledge of both provincial and federal government regulations. Individuals possessing strong technical ability are currently in high demand, particularly those working towards obtaining or holding a professional certification from the Canadian Payroll Association.

"We have used the Lannick Finance & Accounting Salary Report since its inception and have found it invaluable in developing our financial and staffing projections," said Nicholas Martella, President of Beauty of Nature Canada. "The Salary Report has proven highly accurate in its forecasting of salary level changes, and has enabled us to recruit the best quality candidates for our career opportunities." 

While not intended to be a scientific survey, the "2013 Lannick Finance & Accounting Salary Report" is based on a collection of nearly 4,000 reported salary changes and job placements during the 12 months ending November 2012.  Salaries forecasted for 2013 are primarily based on anticipated hiring demand and on the Statistics Canada Labour Force Survey.

"Professional designations in finance and accounting continue to be in strong demand by employers in the GTA, such as Chartered Accountant (CA), Certified Management Accountant (CMA), Certified General Accountant (CGA), or the newly created, Chartered Professional Accountant (CPA)", added Jeewan.

Survey Methodology:

  • Salaries were collected over a 12-month period (November 2011 to November 2012) throughout the Greater Toronto Area.
  • Figures are based on the collection of 3,825 reported salary changes and job placements within the finance and accounting sector.
  • Salaries forecasted for 2013 are assumptions based on economic factors and the Statistics Canada Labour Force Survey.
  • Compensation varies widely as a function of industry sector, risk and reward factors, and company size.
  • Salary trend is based on the salary data reported in the previous year.
  • Professional designations are assumed at the intermediate and senior level positions.
  • Figures do not include bonuses or benefits.

Annual Average (Mean) Salary Comparison by Position (Greater Toronto Area)

Job Title 2012 2013 Trend
Junior Accountant 40,810 39,380 -
Accounts Payable/Accounts Receivable Clerk 40,890 42,545 +
Payroll Administrator 44,000 49,950 +
Payroll Benefits Manager 74,335 75,025 +
Financial Analyst 51,925 63,615 +
Tax Accountant 57,880 57,915 +
Accountant 56,905 56,805 -
Treasury Analyst 62,625 64,555 +
Senior Accountant 66,510 66,212 -
Accounts Payable/Accounts Receivable Manager 69,175 62,855 -
Tax Analyst 69,970 70,525 +
Senior Financial Analyst 73,485 74,775 +
IT Auditor 86,450 87,125 +
Senior Auditor 75,235 75,819 +
Assistant Treasurer 80,850 84,580 +
Assistant Controller 80,855 94,200 +
Tax Specialist 81,810 86,500 +
Accounting Manager 86,380 81,165 -
Manager of Financial Reporting 90,515 90,375 -
Finance Manager 92,925 90,750 -
Manager of Planning & Analysis 93,190 99,850 +
Audit Manager 95,055 90,865 -
Controller 102,190 102,100 -
Tax Manager 97,080 105,435 +
Director of Finance 128,170 126,015 -
Treasurer 105,600 127,500 +
Senior Manager of Finance & Accounting 112,875 127,690 +
Director of Planning & Analysis 129,390 127,918 -
Vice President Finance 145,665 145,900 +

About the Lannick Group of Companies

Founded in 1985, the Lannick Group of Companies has grown into the premier professional recruitment and staffing firm in the Greater Toronto Area. Lannick Group includes Lannick Finance & Accounting, which recruits finance & accounting professionals for mid- to senior-level permanent and contract roles; Pro Count Staffing, which places non-managerial to managerial-level finance & accounting professionals in temporary and permanent roles; and Lannick Technology, which specializes in providing technology professionals at all levels and roles on a contract, contract-to-hire and permanent basis. Lannick Group has been named one of the Best Workplaces in Canada by Great Place to Work® Institute since 2009. Learn more at www.lannickgroup.com.

Note to Editors: Lannick Group career and workplace experts are available for interview. See "2013 Lannick Technology Salary Report" press release regarding the information technology sector.


SOURCE: Lannick Group of Companies

For further information:

Jim Dimovski, Director, Marketing & PR
416-343-3407; jdimovski@lannickgroup.com

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