Which accounting and finance professionals will have the most promising career prospects in 2007?
Robert Half International, the world’s first
and largest staffing services firm specializing in accounting and finance, identified five
jobs positioned for growth this year. The
information is based on research from the
company’s 2007 Salary Guide, actual candidate placements and discussions with hiring managers throughout the United States.
“Today’s marketplace lends itself to many
opportunities for experienced accounting
and finance professionals,” says Andrea
Dunn, division director for the Columbus
office of Robert Half Finance and
Accounting. “Those that get the best compensation tend to be professionals who
can combine strong strategic decision-making with good communication and
technology skills.”
Smart Business spoke with Dunn about
the opportunities available for experienced
accounting and finance professionals in
today’s marketplace.
What are the top accounting and finance positions this year?
Those specialties that will see the greatest
gains in base pay include compliance professionals, internal and external auditors,
financial analysts and public accountants.
Employers are looking for accounting
and finance professionals with a broad
range of abilities, including strong strategic
decision-making, communication and technology skills.
Why are these professions so popular?
It varies, depending on the specialty. For
example, compliance executives with U.S.
Securities and Exchange Commission
reporting experience are needed to help
companies meet ongoing corporate governance requirements. Internal auditors, particularly those who possess the certified
internal auditor (CIA) certification, are
being hired to help improve internal controls and meet the compliance mandates of
such regulations as Sarbanes-Oxley.
Firms are also hiring financial analysts to
assist with budgeting and forecasting activities and to identify how their organizations
can become more profitable.
Accountants who are CPAs and have at
least three years of experience, including
in public accounting, are needed for projects ranging from maintaining general
ledger accounts and preparing financial
statements to developing budgets.
What is the breakdown of growth and average base pay for the top five accounting and
financial specialties?
- Internal auditor — National average
starting salaries for internal audit managers at large companies (more than $250
million in sales), for example, are expected
to climb 5.8 percent this year to a range of
$77,500 to $101,500. - Compliance executive — Starting
salaries for chief compliance officers at
large companies are predicted to rise to
$132,500 to $181,250, a 14.4 percent
increase, and to $111,000 to $145,500 for
those at midsize companies ($25 million to
$250 million in sales), up 9.3 percent. - Financial analyst — Demand for these professionals is especially acute at the
management and senior levels. Base pay is
expected to jump 5 percent for managers
with small companies (up to $25 million in
sales) to between $55,750 and $70,000, and
5.6 percent for senior financial analysts at
large companies to $58,250 to $73,750. - Staff accountant — The greatest gains
in initial compensation for staff accountants are expected to take place at large
companies, with starting salaries rising 5
percent to between $41,250 and $52,500. - External auditor — Professionals who
possess three to seven years of experience
and the certified public accountant designation are particularly valued. Senior
external auditors with small firms (up to
$25 million in sales) will see starting
salaries increase 5.2 percent to a range of
$48,750 to $63,000.
What advice do you have for job seekers?
First, job seekers need to understand
what skill sets are in demand and highlight
strengths in their résumés and during job
interviews. Take other steps, such as pursuing additional coursework and relevant
certifications, to enhance expertise in
these areas.
Second, candidates should seek out firms
where they’d like to work rather than waiting for want ads to appear, because many
companies are seeking to fill positions that
aren’t yet advertised in the paper.
Third, make sure you vary your search.
Try to look online, at industry events, and
at informational interviews. During the
interview process, stress to the hiring manager how you’ve used your expertise to
save time and money for the companies in
which you have worked.
ANDREA DUNN is the division director at the Columbus office
of Robert Half Finance and Accounting (www.roberthalf.com).
Reach her at (614) 221-9300 or [email protected].
