In Canada, starting salaries in accounting and finance are projected to rise an average of 2.5 percent in 2006, according to the 2006 Salary Guide from Robert Half International, Incorporated. 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,” says Jeff Holloway, a vice-president with Robert Half International. “Companies that can successfully attract and retain top finance and accounting professionals will be positioned to adapt to emerging trends and new business opportunities.”
Demand for accounting and finance professionals is expected to be particularly strong in the finance, real estate and manufacturing industries, however, hiring activity and compensation will vary significantly between geographic markets. Public accounting firms are raising salaries across the board in an effort to compete with private industry for top accounting staff.
Average starting salaries for entry-level accounting professionals is projected to climb 2.8 percent, to between $36,250 and $45,500 at large firms. Managers at medium/small firms should see an increase of 4.3 percent as average starting salaries climb to between $69,250 and $94,000 annually. Senior accountants at firms of similar sizes will see average starting salaries rise 4.6 percent, to between $48,500 and $60,250.
Other key findings reported in the 2006 Salary Guide include:
- Full Charge Bookkeepers can anticipate a 5.7 percent increase in base compensation this year with an average starting salaries of between $38,750 to $50,000.
- Payroll managers will see starting salaries increase to between $51,500 to $77,750, an increase of 5.3 percent over 2005.
- Starting salaries for accounts receivable/accounts payable supervisors will increase 5.2 percent, to the $43,250 to $58,500 range.
- Analysts with large companies can look for starting salaries of between $42,750 to $54,000 annually, an increase of 4.0 percent over 2005.
Information in the 2006 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 impact the salaries of full-time professionals as their work histories develop.
Free copies of the 2006 Salary Survey can be ordered online at www.roberthalf.com or by calling 800-474-4253.