How Do Your 2019 Accounting & Finance Salaries Compare?
Offering competitive salaries is a must if you want to attract and retain top accounting and finance talent. If your offerings don’t meet or exceed expectations in your area, you may lose your best and brightest candidates and employees to the competition.
By understanding what various accounting and finance professionals earn on average, you can make sure your salaries align with these amounts. If you want to see how your 2019 accounting and finance salaries compare, here’s what you need to know.
Corporate Accounting Salary
Salary levels can vary dramatically in the world of corporate accounting. At the executive level, Chief Financial Officers usually earn $121,250 on the low end and over $497,000 on the high end. Accounting Directors also command substantial salaries, generally ranging from about $97,000 to upwards of $225,000, depending on experience.
For general accountants, the amount of time the person has been working in the field also plays a significant role when it comes to compensation. Newer accountants – typically those with up to one year of experience – will commonly earn about $50,000 per year. However, salaries can be as low as $38,500 and as high as $69,500 for entry-level roles.
When a general accountant has between one to three years of experience, the salaries tend to fall between $49,000 and $97,000. At the 50th percentile, the compensation at this level is $62,000.
Senior accountants and managers can make between $63,750 and $116,750 and $76,250 and $142,000, respectively. Their exact compensation can be influenced by several factors, including the size of the team, company’s size and complexity of their workload.
Public Accounting Salary
Professionals who work in the public accounting sector also earn strong salaries, though they are typically lower than you find in the world of corporate accounting. For example, AR/AP Managers often make between $48,250 and $101,000, with the 50th percentile falling at $61,750.
Tax accountants with one to three years of experience commonly see salaries between $47,750 and $91,500. Those at the 50th percentile often come in around $57,500 per year.
Audit accounting professionals usually earn a bit less than tax accounts. Those with one to three years of experience can typically find opportunities with salaries between $43,500 and $82,750, with the 50th percentile hitting at $52,000 per year.
Finance Professionals Salary
As with accounting, finance salaries can vary dramatically. An internal auditor with one to three years may earn $57,750 on the low end and $110,750 on the high end. Financial analysts fall within the $59,350 to $111,250 bracket, depending on their level of experience and exact duties.
At the executive level, a chief financial officer commonly makes over $168,000 on the low end. For those with substantial experience, a salary above $500,000 is certainly not out of the question.
By learning about average accounting and finance salaries, you can make sure your offerings are competitive. When in doubt, research what your competition offers and focus on salary surveys that focus on your location. That way, you can make sure you can attract and retain the skilled professionals you need to thrive.
If you would like to know more, the team at VB can help. Contact us to speak with a member of our knowledgeable staff today and see how our compensation expertise can benefit you.