Provided by Robert Half International

Heightened competition for accounting and finance professionals will lead to increases in base compensation this year, according to the 2006 Salary Guide from Robert Half International Inc.  Starting salaries in accounting and finance are projected to rise an average of 2.5 per cent in 2006. 

Robert Half International Inc. is the world’s first and largest specialized consulting and staffing services firm.  The company’s financial staffing divisions include Robert Half^® Finance & Accounting, Accountemps^® and Robert Half^® Management Resources, for full-time, temporary and senior-level project professionals, respectively.  The 2006 Salary Guide is based on an analysis of the thousands of job placements managed by the company’s Canadian offices.

“Business expansion and corporate governance initiatives are driving recruitment in the accounting and finance industries,” said Jeff Holloway, a vice-president with Robert Half International.  “Companies that can successfully attract and retain top finance and accounting professionals will be best positioned to adapt to emerging trends and new business opportunities."

Public Accounting Outlook

Public 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 large firms are projected to climb 2.8 per cent, to between $36,250 and $45,500.  Managers at medium/small firms can anticipate a 4.3 per cent increase in average starting salaries, to $69,250 to $94,000 annually.  Senior accountants at medium/small firms will see base compensation rise to $48,500 to $60,250 -- an increase of 4.6 per cent from 2005. 

Other key findings reported in the 2006 Salary Guide:

• Full Charge bookkeepers can anticipate a 5.7 per cent rise in base compensation in the year ahead with average starting salaries of $38,750 to $50,000.
• Payroll managers will see average starting salaries of $51,500 to $77,750 -- up 5.3 per cent over 2005 levels.
• Accounts receivable/accounts payable supervisors will see starting salaries climb 5.2 per cent, to the range of $43,250 to $58,500.
• Analysts with large companies will see starting salaries rise 4.0 per cent, to $42,750 to $54,000 annually.
• Tax Managers can anticipate a 3.5 per cent gain in base compensation, to the range of $84,750 to $116,250 annually.

Across Canada , demand for accounting and finance professionals is expected to be particularly strong in the finance, real estate and manufacturing, industries.  (All salaries listed are averages from our Canadian offices).  However, hiring activity and compensation vary significantly by geographic market.   A formula for determining compensation variances for select Canadian cities is included in the Salary Guide.

Information in the Salary Guide is based on the thousands of job searches, negotiations and placements managed each year by the company’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.  For several years companies across Canada have consulted Robert Half International’s Salary Guide to determine appropriate compensation for all levels of accounting and finance professionals.