Annual Report Finds Salaries Rise as Competition for Skilled
EDITOR'S NOTE: Your readers can order a free copy of the 2008 Salary
Guide from Robert Half International by visiting www.roberthalf.com or
calling (800) 474-4253. Media requests should be directed to
Jason Chapman at (416) 350-2330 extension 62070.
TORONTO, Oct. 24 /CNW/ - Starting salaries for accounting and finance
professionals are expected to increase an average of 5.5 per cent in Canada in
the coming year, according to the just-released 2008 Salary Guide from Robert
Half International. Payroll professionals, vice-presidents of finance and
public accountants are projected to see the largest gains.
Robert Half International is the world's first and largest staffing
services firm specializing in accounting and finance. Robert Half's financial
staffing divisions include Accountemps(R), Robert Half(R) Finance & Accounting
and Robert Half(R) Management Resources, for temporary, full-time and
senior-level project professionals, respectively. The 2008 Salary Guide is
based on an analysis of the thousands of job placements managed by the
company's Canadian offices.
"Companies are offering enhanced compensation to attract and retain top
performers as the demand and for skilled financial and accounting
professionals remains strong," said David King, executive vice-president,
Robert Half International. "Candidates with in-demand technical proficiencies,
strong communication skills and industry expertise are highly sought after."
Not surprisingly, experienced candidates have greater leverage in
negotiating compensation, and salaries for the most in-demand specialties are
rising faster than the national average. Across Canada, demand is particularly
strong in the manufacturing, oil and gas and real estate sector, Robert Half
Corporate Accounting: Salaries Rise for Payroll Professionals,
Vice-President of Finance and Internal Audit Positions
Business expansion and ongoing corporate governance initiatives are
fuelling hiring among corporate accounting and finance departments. Payroll
professionals at all levels are expected to see the biggest increases in base
pay in 2008, with the average starting salary expected to rise 8.9 per cent.
Within this classification, payroll administrators are projected to see an
increase of 9.8 per cent over last year's level to a range of $34,250 and
$41,500 annually, the single largest percentage increase in base compensation
Vice-presidents of finance at large companies (more than $250 million in
sales) are forecast to receive starting compensation between $135,750 and
$223,750 annually, an increase of 7.6 per cent over last year's projections.
Senior internal auditors at medium/small companies (up to $250 million in
sales) are projected to see a 6.6 per cent increase over last year's
projections to between $65,000 and $84,000 annually. Managers of financial
analysis at large companies (more than $250 million in sales) are also
projected to see strong gains with a 6.0 per cent increase over 2007 levels to
a range of $74,500 and $102,500 annually.
Public Accounting Outlook
Steady hiring is expected to continue in public accounting as firms seek
staff to help deliver an expanding set of service offerings. Average starting
salaries for public accountants with one to three years of experience at large
firms (more than $250 million in sales) are projected to increase 8.9 per cent
in the year ahead, to between $50,000 and $60,500.
Professionals with up to a year of experience are also highly sought as
firms look to address rising workloads and hire their next generation of
leaders. At large firms (more than $250 million in sales), professionals can
expect a 8.5 per cent increase in average starting salaries, to a range of
$44,000 to $48,500. Senior accountants at medium/small firms (up to $250
million in sales) are projected to see a 5.6 per cent increase in starting
salaries to the range of $53,000 and $65,000.
Other key findings reported in the 2008 Salary Guide:
- Credit and collections managers at large companies (more than
$250 million in sales) are projected to see base compensation of
$62,500 to $93,500 annually, a 6.3 per cent increase over 2007.
- Full charge bookkeepers can anticipate a 7.8 per cent increase in
base compensation, to the range of $42,500 to $57,250 annually.
- Information technology audit managers at large companies (more than
$250 million in sales) will see average starting salaries of $85,000
to $131,250, up 5.2 per cent from 2007 levels.
All salaries listed in the 2008 Salary Guide from Robert Half
International are averages from our Canadian offices. Because hiring activity
and compensation vary significantly by industry and geographic market, the
Salary Guide includes a regional analysis of hiring trends and compensation
variances for select Canadian markets.
Information in the guide is based on the thousands of job searches,
negotiations and placements managed each year by Robert Half's staffing and
recruiting managers. Continuing or ongoing salaries are not reported because
many external factors -- such as seniority, work ethic, job performance and
training -- impact the salaries of full-time professionals as work histories
develop. Many companies regularly refer to the Salary Guide from Robert Half
International to determine appropriate compensation for all levels of
accounting and finance professionals.
Robert Half International has more than 350 staffing locations in North
America, South America, Europe and the Asia-Pacific region, and offers online
job search services on its divisional websites, all of which can be accessed
EDITOR'S NOTE: To schedule an interview for local commentary in Montreal,
Toronto, Winnipeg, Calgary, Edmonton or Vancouver, please contact
Jason Chapman at 416-350-2330 extension 62070.
For further information:
For further information: Jason Chapman, (416) 350-2330 ext. 62070