2007's "Hottest" Finance & Accounting Jobs

According to recent research from Robert Half, 2007's "hottest" accounting and finance positions are those noted below.  Given that most of these jobs have a direct connection to the demands of regulatory compliance, I find the list very plausible and I expect that we will experience increasing pay pressure for these roles.

• Internal auditor – Companies seek internal auditors, particularly those who possess the certified internal auditor designation, to help improve internal controls and meet the compliance mandates of regulations such as the Sarbanes-Oxley Act.  Reflecting the intense demand for these professionals, compensation is rising.  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 – Companies are hiring compliance executives with U.S. Securities and Exchange Commission reporting experience to help them meet ongoing corporate governance requirements.  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 from 2006 levels.
• Financial analyst – As firms expand, financial analysts are needed to assist with budgeting and forecasting initiatives and to identify how their organizations can become more profitable.  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 – Accountants with at least three years of experience, including in public accounting, are sought for projects related to general ledger-account maintenance, financial-statement preparation and budget development.  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 auditors – Public accounting firms are expanding their staff levels to meet rising client demand for audit services.  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.

A side note:  I am not huge fan of using Robert Half's Salary Guide as a compensation survey (see my earlier post on gauging survey quality).

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[Frank Giancola]

If readers wish to learn more about how Sarbanes-Oxley has affected the compensation of audit professionals over the past several years, one source is the Second Quarter 2006 issue of the WorldatWork Journal, which has an in-depth article titled "How Sarbanes-Oxley Has Impacted the Compensation of Audit Professionals." (Pg 34.)