A news release said the 2005 Salary Guide from Robert Half International showed that starting salaries for accounting and finance professionals are expected to increase an average of 2.4% next year.
The biggest salary winners are expected to be internal auditors and others focused on Sarbanes-Oxley and other corporate governance-related initiatives who should will see the greatest demand for their services and the most generous base compensation, according to the announcement. Internal audit managers at large companies (more than $250 million in annual sales) are expected to see a 12.5% increase in average starting salaries in 2005, to the range of $69,500 to $90,000 per year. Internal auditors with one to three years of experience at midsized companies ($25 million to $250 million in annual sales) can expect the largest base compensation hike with average starting salaries projected to rise 16.8%, to $42,250 to $50,000.
Meanwhile, the press release said, public accounting professionals will see generous hikes in average 2005 starting salaries as public companies continue compliance efforts with Sarbanes-Oxley and other laws and rules.
Managers at large firms can expect average starting salaries to rise to between $68,000 and $92,000, a 10.2% hike, Professionals with one to three years of experience in midsized public accounting firms will see average starting salaries increase 11.8%, from $42,250 to $48,000 per year. Average starting salaries for entry-level professionals at small public accounting firms (up to $25 million in annual sales) will rise to $34,000 to $39,250, an 11.4%-increase.
“Compliance-related issues are fueling demand for individuals with expertise in internal auditing procedures and corporate governance regulations,” said Max Messmer, chairman and CEO of Robert Half International. “Accounting and finance professionals with skills in these areas may receive multiple employment offers in the current environment.”
Other findings include:
- Senior accountants at large public accounting firms can expect to see average starting salaries increase 11.7%, to between $55,000 and $69,000.
- Bookkeepers can anticipate a 5.4%-rise in base compensation, to the range of $26,250 to $32,750 per year.
- Loan administrators will see starting salaries increase 5.1% to $31,750 to $50,000.
- Tax accounting managers and senior tax accountants at large companies will see average starting salary increases of 3.7% and 2.7%, respectively.
- Senior cost accountants at large companies will experience a modest increase in average starting salaries of 1.8%, to between $49,500 and $63,750.
- Payroll clerks at small companies can expect a decline in average starting salaries of 2.2%, to the range of $25,000 to $30,250 per year.
More information is at www.rhi.com .