Corporate Accountants Enjoying Significant Pay Raises
Salaries are climbing along with demand for accounting talent. Despite fears of a recession and layoffs, accountant salaries have jumped to their highest levels ever. That’s according to a recent survey conducted by the Institute of Management Accountants (IMA). The IMA’s 2007 Salary Survey, which polled roughly 1,600 internal auditors, treasurers, forecasters and planners at both privately held and public companies, as well as accountants who work at not-for-profits and academic institutions, shows salaries increased 6.9% last year.
Meanwhile, demand for experienced accountants is surging. Among the reasons for the growing need for accountants is an increase in corporate governance regulations and heightened focus on risk. The American Institute of Certified Public Accountants (AICPA) contends that the volume and complexity of financial and non-financial information will continue to expand along with the need for accountants and auditors to interpret and analyze data and participate in the decision-making process.
Hiring qualified professionals remains the most critical concern for U.S. firms, according to the AICPA. Executive search firm, A.E. Feldman, says accounting jobs are opening up as firms address mounting resource demands. Current opportunities include, tax manager jobs, audit jobs, international tax jobs, and business valuation jobs. Demand is also growing for candidates with experienced in hedge fund accounting.
Certifications Count
The IMA survey shows that corporate accountants with a certification (CPA or CMA) earned an average of 25% more than those without one.
“The results of this year’s survey are a testament to the tremendous value certification adds to accountants’ jobs, salaries and ultimately the organizations for which finance professionals work,” said Dennis Whitney, vice president of the Institute of Certified Management Accountants.
Jeffrey C. Thomson, IMA president and CEO also notes, “With today’s unstable economic conditions, including soaring gas prices, rising unemployment, and a housing market decline, it’s more important now than ever that finance and accounting professionals seek ways to enhance their value.”
A.E. Feldman’s accounting division is constantly researching industry trends and developments. To learn more about these issues or inquire about existing and future job opportunities in international tax, the lines of communication are open. Contact A.E. Feldman’s President, Mitch Feldman, and the firm’s cutting edge accounting recruiting team here.
