More evidence of accelerating growth in accounting and finance salaries

More evidence of accelerating growth in accounting and finance salaries

A report released this week provides additional evidence that accounting and finance salaries are rising at an increasing pace.

Accounting and finance salaries in the United States will grow 2.4% in 2016, according to a 2016 Salary Guide published by the recruiting firm Accounting Principals. That’s up from the 1.2% increase projected for 2015.

Another salary guide published last week by staffing services provider Robert Half projected that average starting salaries for U.S. accounting professionals will grow between 4.0% and 5.3% over the previous year, representing a significant jump from the increases projected for previous years.

The salaries in the Accounting Principals guide are based on national averages compiled by CareerBliss, a career community that aggregates data based on salary reports from workers. The guide also considers local market data in its projections.

Jodi Chavez, a senior vice president with Accounting Principals, said that employers in accounting and finance recently have become more willing to negotiate with candidates who do not accept their first salary offer.

“That’s not to say you can name your own price in terms of salary,” Chavez said, “but employers are open to discussion when it comes to salary negotiation, whereas they had not been even, I would say, six months ago to a year ago.”

Although the job market has shifted more in job seekers’ favor, Chavez said candidates need more than accounting and finance skills to maximize the interest they will receive from employers. She said qualities that put job candidates in higher demand include IT skills, fluency in a second language, and business management acumen. Read more on Journal of Accountancy.