Salaries for 2006 on the rise in US

In the US, starting salaries in accounting and finance are projected to rise an average of 3.1% in 2006, according to the 2006 Salary Guide from Robert Half International Inc. For those involved with corporate governance initiatives -- such as internal auditors, information technology (IT) auditors and public accountants -- starting salaries are expected to see the strongest growth.

“Organizations are actively recruiting accounting and finance staff to support business expansion initiatives and corporate governance efforts,” says Max Messmer, chairman and CEO of Robert Half International. “To attract and retain skilled financial professionals, firms are reassessing their hiring practices and enhancing compensation packages for current staff.”

For the second consecutive year, corporate auditors can expect to see the strongest salary growth. IT auditors can expect the largest percentage increase in base compensation of any position in 2006, with average starting salaries forecast to rise 11.2%, to between USUS$67,000 and USUS$94,250 annually. Entry-level internal auditors at small companies (up to USUS$25 million in sales) will see average starting salaries increase 9%, to between USUS$35,500 and USUS$43,250 per year.

Meanwhile, public accounting firms are raising salaries across the board as they compete with companies in private industry for top accounting staff. Average starting salaries for entry-level accounting professionals at small firms are projected to climb 6.5%, to between USUS$35,500 and USUS$42,500. Senior managers/directors at large firms (USUS$250 million-plus in sales) can anticipate a 4.2% increase in average starting salaries, to between USUS$85,500 and USUS$130,000 annually. Senior accountants at mid-size firms (USUS$25 million to USUS$250 million in sales) will see base compensation rise to between USUS$50,000 and US$70,000 -- an increase of 8.8% from 2005.

Other key findings reported in the 2006 Salary Guide:

Tax managers at mid-size companies will see average starting salaries of US$57,750 to US$74,000 -- up 4.6% over 2005 levels.
Bookkeepers can anticipate a 6.8% rise in base compensation in the year ahead.
Entry-level accountants at midsize companies will see starting salaries rise 4.1%, to US$32,000 to US$38,250 annually.
Mutual fund accountants can anticipate a 4.7% gain in base compensation, to the range of US$38,000 to US$51,250 annually.
Accounts receivable/accounts payable managers at small companies will see starting salaries climb 5.2%, to the range of US$33,750 to US$41,500.

Information in the Salary Guide is based on the thousands of job searches, negotiations and placements managed each year by the company’s staffing and recruiting managers. For more information, visit http://www.accountemps.com/.