Introduction

Starting salaries for accounting and finance professionals are expected to increase an average of 4.3 percent in the coming year, according to the 2008 Salary Guide from Robert Half International. Public accountants, financial analysts, and general accountants are among those projected to see the largest gains.

According to the Robert Half guide, 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 senior managers and directors at midsize firms are projected to increase 7.7 percent in the year ahead, to between $88,250 and $129,250. Professionals with one to three years of experience also are highly sought as firms look to address rising workloads and hire their next generation of leaders. At small firms, professionals at this stage of their careers can expect a 7.7 percent increase in average starting salaries, to a range of $44,750 to $53,250. Those with the CPA certification earned 10 percent more on average, as well.

Business expansion and ongoing corporate governance initiatives are fueling hiring among corporate accounting and finance departments. Entry-level financial, budget, treasury, and cost analysts at large companies are expected to see the biggest increases in base pay in 2008, with the average starting salary expected to rise 6.9 percent, to between $38,250 and $47,500 annually. Senior-level general accountants at large companies are forecast to receive starting compensation between $53,500 and $71,250 annually, an increase of 4.8 percent over last year’s projections.

It's important to note that factors such as geographic location, length of experience, level of education, professional designations, and the size of the employer all play a role in determining salary.

Salary Information

Public Accounting—Audit, Tax, and Management Services (Large Firms) (a)

Public Accounting—Audit, Tax, and Management Services (Medium Firms) (a)

Public Accounting—Audit, Tax, and Management Services (Small Firms) (a)

Corporate Accounting—General Accountants (Large Companies) (a)

Corporate Accounting—General Accountants (Medium Companies) (a)

Corporate Accounting—General Accountants (Small Companies) (a)

Financial Management—Financial, Budget, Treasury or Cost Analyst (Large Companies) (a)

Financial Management—Financial, Budget, Treasury or Cost (Medium Companies) (a)

Financial Management—Financial, Budget, Treasury or Cost (Small Companies) (a)

(SOURCE: 2008 Robert Half Salary Guide)

Information in the 2008 Robert Half Salary 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. 

For decades, companies have consulted the Salary Guide from Robert Half to determine appropriate compensation for all levels of accounting and finance professionals. In addition, the U.S. Department of Labor’s Bureau of Labor Statistics references the guide when preparing its comprehensive Occupational Outlook Handbook.