Stiff competition for qualified candidates continues to drive salary growth, according to the 2001 Robert Half and Accountemps Salary Guide, an annual survey based on an analysis of the job orders managed by the U.S. offices of accounting and finance staffing company Robert Half International.

"Companies are reassessing their compensation packages to attract the best talent," Max Messmer, chairman and chief executive of RHI, said. Besides increasing starting salaries, he noted that businesses are offering incentives such as performance-based bonuses, stock options and profit sharing.

Spurred by a growing reliance on accounting staff for strategic advice, firms are seeking applicants who've built their general business knowledge through continuing education. According to the Salary Guide, a graduate degree or professional certification can increase a candidate's base compensation by an average of 10 percent.

At public accounting firms, senior accountants will see the most significant starting salary increases, with a projected base salary increase of 9.5 percent at large firms -- firms with more than $250 million in sales, for a range of $46,250 to $57,000. At mid-sized public firms -- those with $25 million to $250 million in sales, the same projected increase will give those senior accountants a salary range of $42,500 to $53,000. Senior accountants at small firms, defined as those with up to $25 million in sales, are expected to see a 9.2 percent rise in staring salaries, for a range of $39,250 to $49,750, RHI said. Managers at large public firms will take home between $58,500 and $76,500, an 8.9 percent increase.

Audit, Tax & Management Services Accountants -- Public -- Large Firms

Experience/Title	2000	2001	% Change
Manager/Director	$70,500 -- $97,000	$75,250 -- $106,500	8.5%
Manager	$54,250 -- $69,750	$58,500 -- $76,500	8.9%
Senior	$43,000 - $51,250	$46,250 -- $57,000	9.5%
1 to 3 Years	$37,500 -- $44,250	$39,750 -- $48,500	8.0%
To 1 Year	$33,500 -- $37,750	$35,500 -- $40,250	6.3%

Audit, Tax & Management Services Accountants -- Public -- Medium Firms

Experience/Title	2000	2001	% Change
Manager/Director	$63,500 -- $85,000	$67,000 -- $90,500	6.1%
Manager	$50,750 -- $66,000	$54,500 -- $70,250	6.9%
Senior	$39,000 -- $48,250	$42,500 -- $53,000	9.5%
1 to 3 Years	$32,750 -- $39,750	$35,000 -- $43,000	7.6%
To 1 Year	$29,250 -- $33,000	$31,000 -- $36,500	8.4%

Audit, Tax & Management Services Accountants -- Public -- Small Firms

Experience/Title	2000	2001	% Change
Manager/Director	$57,500 -- $78,250	$60,500 -- $81,000	4.2%
Manager	$47,000 -- $60,500	$50,750 -- $63,500	6.3%
Senior	$36,000 -- $45,500	$39,250 -- $49,750	9.2%
1 to 3 Years	$31,250 - $37,750	$33,500 - $40,750	7.6%
To 1 Year	$27,750 - $31,500	$29,500 - $34,750	8.4%

Small firms = up to $25 million in sales;
Medium firms =$25 to $250 million in sales;
Large firms = $250 million+ in sales.

Source: 2001 Robert Half and Accountemps Salary Guide

Public accountants with up to one year of experience at mid-sized firms will see an 8.4 percent jump in their average starting salaries in 2001, with base compensation ranging from $31,000 to $36,500 annually. Accountants with up to a year of experience at small firms can expect to make between $29,500 and $34,750, and 8.4 percent increase.

In the corporate accounting arena, starting salaries for senior accountants at firms with more than $250 million in sales are expected to rise 11.5 percent in 2001, while accountants with one to three years of experience will see an 11.0 percent jump, and managers can expect a 10.9 percent increase, RH reported.

The survey predicts that financial analysts will see the greatest bump in average starting salaries of any job category.  Senior financial, budget and cost analysts at small companies may see a 14 percent gain in base compensation to the range of $37,750 to $55,750 annually, according to the guide.  For managers, base compensation is forecast to increase 13.5 percent at mid-sized firms, to between $56,500 and $69,250 per year.

According to the survey, demand for accounting and finance professionals is expected to be particularly strong in high technology; finance, insurance and real estate; and construction. 

A free copy of the 2001 Salary Guide is available at www.accountemps.com/FreeResources.

-- SmartPros News Staff

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