2018 Salary Guide. for Accounting & Finance Professionals

Transcription

1 for Accounting & Finance Professionals

2 High demand Low supply

3 The race for premier accounting and finance talent is moving faster than ever. Because of a talent and experience shortage and very low unemployment at the manager-and-up level, companies are starting to hire faster and smarter. This means that experienced and skilled job candidates often have leverage over employers. The candidates know they re in high demand, and they re not afraid to negotiate to get what they want. So what exactly do they want? It should come as no surprise that these numbers people respond positively to numbers particularly those with dollar signs in front of them. For high-level accounting and finance talent, competitive compensation remains the most important factor in a job offer. And with other businesses likely to recruit them, they re unlikely to accept a job offer or have a long tenure if they do without a generous salary. It s now more important than ever for employers to offer the right salaries in order to hire and retain the right managers, directors and executives. Fortunately, our 2018 Salary Guide provides you with the most up-to-date salary information. You ll find accurate salaries and total cash compensation figures based on company size and geographic area for many positions. We re confident that our Salary Guide and our partnership will help your business land the professionals you need to succeed now, and far into the future. David Alexander, President Contents 2 Insights for About the salaries 5 Variances 6 Accounting + Finance 9 Public Accounting 10 Banking + Financial Services 14 Job descriptions 1

4 Review these projections from the accounting and finance industry for the insight you need to plan an effective recruiting and retention strategy for Leading the charge Total U.S. unemployment has seen a modest decrease, falling from 4.9% in June of 2016 to 4.4% in June of But for accounting and finance professionals, the unemployment rate is far lower than the national average. According to the Bureau of Labor Statistics (BLS), in business and finance occupations, the unemployment rate was just 2.5% in June of From June 2016 to June 2017, jobs in business and financial activities grew by 169,000. Growth in accounting and finance jobs is fueled primarily by four factors: 1 Companies and organizations continuing to grow and expand due to the rebounding economy The BLS projects that employment for all business and financial operations occupations will grow 8% during , adding about 632,400 new jobs. In September 2016, ThinkAdvisor listed the best paying jobs for college business majors based on median mid-career pay. Finance and accounting were front and center: 2 3 Rising complexity in U.S. tax law and regulatory requirements The effects of globalization #1 Chief Investment Officer $186,000 #2 Tax Director $169,000 #3 Partner in Accounting Firm $165,000 4 The growing bubble of Baby Boomers leaving the workforce Other roles in tax, internal audit, mortgage lending, budgeting, finance, banking and accounting rounded out the remainder of the Top parkerlynch.com/salaryguide

5 Compensation is king According to the Institute of Management Accountants (IMA) U.S. Salary Survey for 2016, 75% of accounting professionals received a pay raise within the past year, at a 6% average increase, compared to 5.3% last year. Over half the respondents believed it was very likely they will receive a pay raise in the coming year. Major accounting and auditing firms used to be reliable pipelines for corporate accounting and finance departments when public accounting employees became frustrated with working such long hours. Now, many firms are not only making counteroffers, but also changing their work culture to make workers happy and keep them longer. This is making it harder for corporate companies to pull in experienced professionals for modest salaries and greater work-life balance. Generations Many workplaces today have five generations working together and uniting their skills. RainmakerThinking s paper, The Great Generational Shift: The Emerging Post-Boomer Workforce, provides the following breakdown of generations in the workplace today: Pre-Baby Boomers/Traditionalists: 1% Baby Boomers: 30% Gen X: 27% Gen Y/Millennials: 28% Gen Z: 14% The youngest Baby Boomers (born in 1964) are little more than a decade away from retirement. Many experts predict that the Boomers who remain in the workforce will reinvent retirement by working part time, freelancing or starting their own businesses, rather than continuing to work for an employer. The BLS predicts that almost 3.9 million more workers will leave the workforce between than left between , mainly as a result of aging and retirement. Many of those roles will be filled by Millennials. In March 2017, Parker + Lynch conducted a Google Consumer Survey, surveying 337 professionals employed in accounting, banking and finance. The three most important factors Millennials consider when accepting a job offer: Salary: 32% Opportunities for growth: 19% Company culture: 13% 3

6 About the salaries in this guide The figures in this 2018 Salary Guide are based on national averages compiled through Parker + Lynch s partnership with CareerBliss, a career community dedicated to helping people find happiness in the workplace and in life. CareerBliss has millions of salary reports from real employees that are aggregated and formatted to be helpful to employers and employees alike, and their work has been featured on CNN, CNBC, Fox Business, Forbes and many other media outlets. To further validate the data, each office in Parker + Lynch s nationwide branch network reviewed their local market data. Based on that review, some figures were revised to ensure local accuracy. This comprehensive approach results in more regionally accurate data than the public data that is found in other salary guides. Salaries may be affected by many factors, including company size, benefits offered, location, educational requirements and local supply/demand trends. The accurate, up-to-date data in our guide is broken into the following categories: Average base salary by company size Small: This figure represents the national average for companies in all industries with less than $50 million in annual sales. Medium: This figure represents the national average for companies in all industries with $50-$200 million in annual sales. Large: This figure represents the national average for companies in all industries with greater than $200 million in annual sales. Base salary Low: Only 10% of the national workforce across all industries and company sizes is paid below this figure. High: Only 10% of the national workforce across all industries and company sizes is paid above this figure. Average: This figure represents the national average across all industries and company sizes. Total cash compensation Low: Only 10% of the national workforce across all industries and company sizes is below this figure, which includes annual cash incentives. High: Only 10% of the national workforce across all industries and company sizes is above this figure, which includes annual cash incentives. Average: This figure represents the national average across all industries and company sizes and includes annual cash incentives. Variances for specific job markets We realize that salaries in your city may not be the same as salaries in other areas of the country. That s why we ve provided variances for all of the key markets throughout the U.S. These variances provide the most accurate salary ranges for your specific job market. Simply take the average base salary for the position you are researching, and multiply it by the variance for your local area. Here s an example: An Accountant has an average base salary of $48,471. The company is based in San Diego, CA, which has a local variance of %. Here is the calculation you would use: $48,471 x % = $56,788 The salary for San Diego would be $56, parkerlynch.com/salaryguide

7 Variances AZ Mesa % Phoenix % CA Burbank % East Bay % Los Angeles % Los Angeles West % Newport Beach % Ontario % Sacramento % San Diego % San Francisco % San Gabriel Valley % San Jose % Torrance % Woodland Hills % CO Denver % CT Stamford % DC Washington % FL Fort Lauderdale % Jacksonville % Miami % Orlando 99.04% Tampa % West Palm Beach 98.87% GA Atlanta % Columbus 97.50% IL Chicago % Deerfield % Oakbrook Terrace % Schaumburg % IN Indianapolis % KS Overland Park % KY Louisville 99.12% MA Boston % MD Baltimore % MI Detroit % Grand Rapids % MN Minneapolis % MO Kansas City % St. Louis % NC Charlotte % Greensboro 99.42% Raleigh % NJ Edison % Paramus % Parsippany % Princeton % NM Albuquerque % NV Las Vegas % NY Long Island % New York City % OH Cincinnati % Cleveland % Columbus % OK Oklahoma City 97.58% Tulsa 97.70% OR Portland % PA King of Prussia % Philadelphia % Pittsburgh % TN Chattanooga 94.86% Knoxville 94.86% Nashville % TX Austin % Dallas % Fort Worth % Houston % VA McLean % Norfolk 94.84% Richmond % WA Bellevue % Seattle % WI Milwaukee % National variances are based on salary averages. Increases and decreases of demand for certain positions may impact this percentage. 5

8 Accounting + Finance Accountants and auditors come in at #11 on the BLS s Top 20 List of occupations with the highest projected growth in new jobs through In 2016, the median pay for accountants and auditors was $68,150 per year. UC San Diego Extension s Emerging Careers for 2016 report found that accountants and auditors were the second most in-demand career nationally. According to the BLS, the top-paying industries for accountants and auditors (by median annual wage) are: Finance and insurance $72,950 Management of companies and enterprises $70,790 Manufacturing $69,040 Accounting, tax preparation, bookkeeping and payroll services $68,130 Government $65,820 The IMA s U.S. Salary Survey for 2016 states that the overall median total compensation for accounting professionals in 2016 was $117,508. Those with one or more certifications such as the CMA or CPA reported total compensation of 28%-46% higher than professionals without certifications. Compounding the talent shortage, enrollment in undergraduate accounting programs has stayed relatively flat, according to the American Institute of CPAs (AICPA) recent Trends Report, so the number of accounting candidates coming out of colleges is not able to keep up with demand. In-demand accounting skills Accounting and finance professionals are no longer just numbers people. Here s a look at some of the skills employers value today: Companies are placing greater reliance on data analytics, looking for new ways to use big data to manage resources and increase revenues. Technology is driving huge change in accounting and finance, so tech skills are in higher demand. Most promising finance career According to a LinkedIn data analysis from February 2017, financial analyst is the #1 most promising career in finance, with a median base salary of $54,111, more than 1,700 job openings and a career advancement score of 10 out of 10. UC San Diego Extension s Emerging Careers for 2016 report also named financial analyst as the #8 most in-demand career nationally. 6 parkerlynch.com/salaryguide

9 Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE Accounting + Finance Accountant, Staff 45,787 48,770 52,301 40,002 58,393 48,471 40,657 59,977 49,427 Accountant, Sr. 68,920 72,106 74,575 57,019 86,073 70,240 57,550 90,013 72,942 Accounting Clerk 34,855 35,167 37,068 27,928 43,173 34,916 28,308 44,156 35,586 Accounting Supervisor 75,137 77,111 81,278 57,042 97,940 76,563 58, ,819 80,064 Accounting Manager 82,039 87, ,450 76, ,638 97,309 77, , ,431 Accounting Director 129, , , , , , , , ,066 Accounts Payable Clerk 33,576 38,003 40,513 28,766 45,754 37,270 29,149 46,646 38,000 Accounts Payable Specialist 36,827 39,122 43,186 30,049 49,127 40,073 30,184 57,541 41,168 Accounts Payable Specialist, Sr. 44,642 50,108 52,728 37,282 64,682 49,348 38,277 66,692 51,484 Accounts Payable Supervisor 58,261 61,269 65,622 43,842 76,861 61,337 45,328 77,916 64,198 Accounts Payable Manager 76,378 81,285 85,474 58, ,406 80,033 59, ,733 84,096 Accounts Receivable Clerk 34,704 38,033 43,329 29,433 46,754 39,266 29,615 47,774 39,698 Accounts Receivable Specialist 37,072 38,523 44,330 30,387 49,896 40,359 31,605 57,859 41,774 Accounts Receivable Specialist, Sr. 42,991 50,567 53,297 38,193 65,037 51,144 39,849 67,091 54,341 Accounts Receivable Supervisor 55,988 59,729 61,926 41,625 74,435 55,651 43,037 74,945 60,117 Accounts Receivable Manager 76,315 80,152 84,212 58, ,494 78,885 58, ,804 82,330 Assistant Controller 107, , ,581 85, , ,079 88, , ,075 Assistant Treasurer 110, , ,667 91, , ,630 92, , ,732 Billing Clerk 36,083 40,060 43,803 28,680 45,571 37,382 28,976 46,460 37,586 Billing Specialist 37,904 42,289 45,617 31,059 49,490 39,645 32,090 49,936 41,134 Billing Specialist, Sr. 38,389 43,604 45,906 32,518 51,235 41,404 33,024 52,970 41,636 Billing Supervisor 60,687 62,505 65,795 43,906 83,534 61,869 44,063 85,666 63,321 Billing Manager 66,756 68,755 72,374 48,296 91,887 68,056 48,470 94,233 69,653 Bookkeeper 40,411 41,986 44,167 32,510 54,704 42,900 32,752 55,146 44,303 Budget Analyst 53,882 55,324 56,142 42,582 69,334 55,554 43,757 69,615 56,699 Budget Analyst, Sr. 79,994 83,120 85,625 63,978 99,690 81,216 64, ,508 83,264 Budget Manager 99,070 99, ,059 77, , ,103 79, , ,414 Cash Applications Clerk 43,540 46,440 50,267 38,171 59,607 47,360 40,242 65,845 53,366 Chief Financial Officer 220, , , , , , ,377 1,035, ,414 Collections Specialist 34,194 37,400 42,316 26,135 46,301 35,728 26,205 47,181 36,199 Collections Specialist, Sr. 40,130 44,859 47,441 31,787 51,515 41,244 32,308 53,229 43,383 Controller 129, , , , , , , , ,297 Cost Accountant 50,474 53,095 55,347 42,453 65,368 54,469 43,138 66,965 55,305 Cost Accountant, Sr. 76,106 77,789 80,954 51,041 91,876 71,636 51,368 96,009 72,899 7

10 Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE Accounting + Finance continued Cost Accountant Manager 97,740 98, ,021 70, ,834 98,071 70, , ,982 Credit & Collections Clerk 33,997 34,741 38,140 23,077 41,167 32,019 23,458 43,735 32,794 Credit & Collections Manager 81,268 88,981 98,477 59, ,005 82,940 60, ,974 87,291 Credit Analyst 48,577 51,846 52,850 37,866 60,773 49,938 40,656 62,624 51,396 Credit Analyst, Sr. 73,591 75,282 76,936 49,931 94,406 73,094 51, ,200 75,773 Finance Manager 75,372 84,368 90,468 48, ,433 78,914 49, ,037 87,322 Finance Director 178, , , , , , , , ,524 Financial Analyst 53,572 56,273 57,679 42,944 66,029 54,111 43,465 68,351 55,528 Financial Analyst, Sr. 81,086 84,401 86,658 66,289 97,380 81,250 67, ,292 84,367 Financial Analyst Manager 102, , ,105 85, , ,243 89, , ,737 Financial Reporting Accountant 52,314 58,358 60,022 45,096 70,524 55,662 45,407 73,115 58,189 Financial Reporting Accountant, Sr. 80,898 85,211 87,900 62, ,348 83,108 64, ,168 87,048 Financial Reporting Manager 108, , ,000 83, , ,589 86, , ,432 Financial Reporting Director 129, , ,831 93, , , , , ,019 Internal Auditor 54,352 56,115 56,898 44,873 66,990 54,732 45,101 69,717 55,953 Internal Auditor, Sr. 80,862 84,353 85,786 64,412 97,914 81,203 67, ,768 83,918 Internal Audit Manager 95, , , , , , , , ,577 Internal Audit Director 124, , , , , , , , ,876 Internal Audit Vice President 174, , , , , , , , ,784 Payroll Clerk 37,946 41,815 45,396 31,366 48,858 39,120 31,662 49,296 39,761 Payroll Specialist 44,566 46,799 49,310 36,524 55,621 45,295 37,232 56,783 46,003 Payroll Specialist, Sr. 47,004 47,918 53,765 37,412 57,162 46,543 37,705 58,193 47,244 Payroll Supervisor 66,149 66,997 70,766 50,415 84,537 66,255 50,602 85,920 66,939 Payroll Manager 70,349 75, ,280 64, ,414 86,955 67, ,644 92,483 Tax Accountant 53,466 54,231 55,839 41,766 64,424 52,729 42,225 66,890 53,881 Tax Accountant, Sr. 80,880 97, ,694 64,865 98,953 81,205 66, ,525 85,690 Tax Manager 111, , ,580 85, , ,139 88, , ,070 Tax Director 142, , , , , , , , ,139 Treasurer 175, , , , , , , , ,944 Treasury Analyst 49,828 52,454 54,800 40,362 64,238 51,271 40,398 65,553 52,740 Treasury Analyst, Sr. 74,814 78,218 81,646 59,878 97,446 76,816 60, ,268 80,120 8 parkerlynch.com/salaryguide

11 Public Accounting With tax and accounting regulations growing more complicated every year, these professionals are in high demand. But enrollment in undergraduate accounting programs has stayed relatively flat, according to AICPA s recent Trends Report. With such explosive job growth expected, why aren t more college students pursuing accounting degrees? Likely, one reason is that it now takes five years of college to earn the CPA designation, as well as passing an arduous exam. While these requirements are designed to protect the public, they can be daunting to students. This shortage has caused the major accounting firms, i.e. The Big 4, to aggressively step up their efforts to market accounting as a career to high school and college students, sometimes capturing undergraduates for employment even before they complete their degrees. According to the CPA exam review provider Crush the CPA Exam, the starting salaries at the Big 4 firms are: EY: $40,000-$63,000 Deloitte: $45,000-$60,000 KPMG: $46,000-$62,000 PwC: $48,000-$68,000 Public accounting isn t just about having an expertise for numbers. Proficiency with technology and an in-depth knowledge of the regulatory environment are also crucial. Tax compliance work, one of the core services of most traditional public accounting firms, is being increasingly disrupted by technology. Modern CPA firms are less interested in employees who can fly through a column of numbers on a 10-key or prepare reconciliations. They re more interested in accounting professionals who can integrate knowledge, expertise and resources to develop solutions for their clients complex problems. According to the AICPA s report CPA Horizons 2025, these are the core competencies accounting professionals need today: Communication skills Leadership skills Critical thinking and problem-solving skills Anticipating and serving evolving needs Synthesizing intelligence to insight Integration and collaboration After roughly five years of working at KPMG, the average salary shoots up to around $106,000. Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE Public Accounting Accounting Services 53,613 57,238 62,201 49,968 65,819 58,657 50,423 71,713 60,516 Accounting Services, Sr. 80,553 83,454 87,434 64, ,597 82,295 66, ,054 85,671 Audit/Assurance Services, Associate 50,401 56,701 66,151 53,551 69,301 63,001 55,441 75,601 68,041 Audit/Assurance Services, Sr. Associate 52,921 59,536 69,459 56,228 72,766 66,151 58,213 79,381 71,443 Audit/Assurance Services Manager 62,976 70,848 82,656 66,912 86,592 78,720 69,273 94,464 85,017 Audit/Assurance Services, Sr. Manager 88,166 99, ,718 93, , ,208 96, , ,024 Tax Services, Associate 64,783 72,881 85,028 68,832 89,077 80,979 71,261 97,175 87,457 Tax Services, Sr. Associate 68,022 76,525 89,279 72,274 93,531 85,028 74, ,033 91,830 Tax Services Manager 80,947 91, ,242 86, , ,183 89, , ,278 Tax Services, Sr. Manager 90, , ,039 96, , ,371 99, , ,440 Partner 153, , , , , , , , ,455 9

12 Banking + Financial Services Initial market reactions to the unexpected presidential election and promises of decreased regulations have indicated improved prospects for banking and financial services firms. However, the banking industry has been forever changed by technology. Superiority is no longer about who has the most brick and mortar locations. It s about effectively and efficiently delivering services to customers. According to efinancialcareers.com, here are the financial services roles that recruiters expect to be most in demand in 2018: Equity analysts and M&A associates Emerging markets bankers Telecommunications, healthcare and energy bankers Data specialists Rates salespeople and high yield/distressed debt bankers Independent wealth management firms In banking and finance, it s often the soft skills and inherent characteristics that hiring managers seek: Interpersonal skills willingness to go all out for the team Emotional intelligence ability to read a person as well as a spreadsheet A growth mindset Adaptability and resiliency Communication skills Empathy and ability to relate to people It s a candidate-driven market In Parker + Lynch s Google Consumer Survey of 337 professionals employed in accounting, banking and finance, 78% said they are not looking for another job and are not open to new opportunities. With almost 80% of the qualified workforce committed to their positions, finding the right talent can feel impossible. Working with a staffing partner helps employers tap into the 17% of banking and financial pros who are currently employed, but open to hearing about new opportunities. Of the 337 professionals surveyed, 35% cited salary as the most important factor in a job offer. After salary, the next most important factor is split among gender lines: 20% of women in finance name flexibility as their top consideration 24% of men in finance name opportunities for growth as their top priority When experienced professionals do decide to make a career change, they are confident about their prospects, demand higher salaries and expect to negotiate additional perks such as telecommuting and flexible work schedules. 10 parkerlynch.com/salaryguide

13 Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE Banking + Financial Services Analyst, Buy Side 63,407 71,333 83,221 67,370 87,184 79,259 69,747 95,110 85,599 Associate, Buy Side 68,479 77,039 89,879 72,759 94,159 85,599 75, ,719 92,447 Analyst, Sell Side 63,407 71,333 83,221 67,370 87,184 79,259 69,747 95,110 85,599 Associate, Sell Side 68,479 77,039 89,879 72,759 94,159 85,599 75, ,719 92,447 Banking Operations Specialist 35,884 40,370 47,098 38,127 49,341 44,855 39,472 53,826 48,443 Banking Operations Specialist, Sr. 38,396 43,195 50,395 40,796 52,794 47,995 42,235 57,594 51,834 Banking Operations Specialist Manager 44,855 50,462 58,872 47,658 61,676 56,069 49,341 67,283 60,554 Business Development Officer 58,946 66,315 77,367 62,630 81,051 73,683 64,841 88,420 79,578 Client Service Representative 25,100 28,237 32,943 26,669 34,512 31,375 27,610 37,650 33,885 Client Service Representative, Sr. 26,606 29,932 34,920 28,269 36,583 33,257 29,266 39,909 35,918 Client Service Representative Manager 34,136 38,403 44,803 36,269 46,937 42,670 37,549 51,204 46,083 Commercial Lending Specialist 38,198 42,973 50,135 40,585 52,522 47,747 42,018 57,297 51,567 Commercial Lending Specialist, Sr. 41,636 46,840 54,647 44,238 57,249 52,045 45,799 62,454 56,208 Commercial Lending Manager 50,421 56,724 66,178 53,573 69,329 63,027 55,463 75,632 68,069 Commodities Analyst Specialist 70,170 78,941 92,098 74,556 96,484 87,713 77, ,255 94,730 Commodities Analyst Specialist, Sr. 79,994 89, ,992 84, ,992 99,993 87, , ,992 Commodities Analyst Manager 94, , ,412 99, , , , , ,938 Compliance Specialist 48,554 49,044 49,665 40,864 57,074 48,381 41,091 61,992 49,992 Compliance Specialist, Sr. 52,178 52,916 54,858 44,842 58,965 52,596 45,983 62,939 53,831 Compliance Manager 97,171 97, ,627 81, ,208 86,367 83, , ,977 Consumer Loan Collector 30,418 31,422 32,910 25,586 36,071 30,929 26,901 46,377 32,053 Consumer Loan Collector, Sr. 37,961 39,488 41,498 32,921 45,874 38,901 33,798 53,747 42,038 Consumer Loan Collector Manager 78,539 81,607 85,858 60, ,028 81,143 63, ,704 98,849 Consumer Loan Processor 34,589 36,156 37,597 27,906 42,595 35,596 29,060 48,059 37,318 Consumer Loan Processor, Sr. 40,863 42,719 45,079 33,353 51,925 42,127 33,978 60,016 43,678 Consumer Loan Processor Manager 64,661 67,800 71,367 50,195 84,788 66,987 52, ,980 77,045 Credit Analyst Specialist 58,915 66,279 77,326 62,597 81,008 73,644 64,807 88,373 79,535 Credit Analyst Specialist, Sr. 78,553 88, ,101 83, ,011 98,192 86, , ,047 Credit Analyst Manager 88,262 99, ,844 93, , ,328 97, , ,154 Director of Operations 106, , , , , , , , ,426 Financial Planning Specialist 63,918 71,908 83,893 67,913 87,888 79,898 70,310 95,877 86,290 Financial Planning Specialist, Sr. 87,440 98, ,765 92, , ,300 96, , ,044 Financial Planning Manager 107, , , , , , , , ,967 11

14 Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE Banking + Financial Services continued Fund Operations Specialist 43,828 49,306 52,678 46,567 60,263 54,785 48,211 65,742 59,168 Fund Operations Specialist, Sr. 47,685 53,645 56,896 50,665 65,566 59,606 52,453 71,527 64,374 Fund Manager 71,050 79,931 84,775 75,491 97,694 88,813 78, ,575 95,918 Hedge Fund Accountant 56,559 63,629 74,234 60,094 77,768 70,699 62,215 84,838 76,354 Hedge Fund Accountant, Sr. 61,649 69,355 80,915 65,502 84,768 77,061 67,814 92,474 83,226 Hedge Fund Accountant Manager 78,866 88,724 94,097 83, ,440 98,582 86, , ,469 Managing Director, Buy Side 190, , , , , , , , ,798 Managing Director, Sell Side 190, , , , , , , , ,798 Market Risk Analyst 73,045 82,176 95,872 77, ,438 91,307 80, ,568 98,611 Mortgage Collector 36,403 37,715 39,504 28,051 44,395 36,545 29,745 45,177 38,133 Mortgage Collector, Sr. 46,727 48,455 50,546 34,230 66,322 46,671 41,852 67,464 49,992 Mortgage Collector Manager 79,679 81,807 86,420 50, ,315 79,848 52, ,185 82,717 Mortgage Loan Closer 44,051 49,006 52,186 32,994 54,005 44,592 34,862 63,135 46,386 Mortgage Loan Originator 149, , ,899 91, , , , , ,576 Mortgage Loan Processor 36,478 38,496 39,505 26,915 47,605 37,430 28,950 49,978 38,586 Mortgage Loan Processor, Sr. 47,179 48,926 51,265 38,471 56,090 48,155 39,549 58,198 49,645 Mortgage Loan Processor Manager 84,967 87,585 91,476 63, ,146 85,948 76, , ,884 Mortgage Loan Servicing Clerk 30,192 31,780 33,360 22,721 38,936 32,194 23,475 40,648 33,167 Mortgage Loan Servicing Clerk, Sr. 36,205 38,249 39,783 28,391 49,681 37,496 29,153 51,831 38,835 Mortgage Loan Servicing Manager 90,342 93,134 98,490 55, ,673 86,738 56, ,587 92,154 Mortgage Underwriter 60,729 63,202 65,628 39,271 67,384 49,925 39,980 71,771 51,852 Mortgage Underwriter, Sr. 72,817 75,406 78,071 57,717 87,172 71,458 59,643 90,451 74,470 Mutual Fund Accountant 65,013 73,140 85,330 69,076 89,393 81,266 71,514 97,520 87,768 Mutual Fund Accountant, Sr. 72,165 81,185 94,716 76,675 99,226 90,206 79, ,247 97,422 Mutual Fund Accountant Manager 86,467 97, ,489 91, , ,084 95, , ,731 Operations Manager 84,993 95, ,553 90, , ,241 93, , ,741 Performance Analyst 68,607 77,183 90,047 72,895 94,335 85,759 75, ,911 92,619 Portfolio Manager 79,867 84, ,186 63, ,319 85,861 66, ,550 91,389 Pricing Analyst 58,465 61,482 63,367 41,131 74,598 59,665 45,887 93,012 67, parkerlynch.com/salaryguide

15 Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE Banking + Financial Services continued Private Banker 62,866 66,110 68,137 44,227 80,213 64,156 49, ,013 72,636 Private Banker, Sr. 108, , ,667 79, , ,752 89, , ,958 Private Banker Manager 129, , ,264 94, , , , , ,700 Private Equity Accountant 57,124 64,265 74,976 60,695 78,546 71,406 62,837 85,687 77,118 Private Equity Accountant, Sr. 62,266 70,049 81,724 66,157 85,615 77,832 68,492 93,398 84,059 Private Equity Accountant Manager 79,654 89,611 95,520 84, ,525 99,568 87, , ,533 Product Control Specialist 66,905 75,268 87,813 71,087 91,995 83,631 73, ,358 90,322 Product Control Specialist, Sr. 69,514 78,204 91,238 73,859 95,582 86,893 76, ,272 93,845 Product Control Manager 77,856 87, ,186 82, ,052 97,320 85, , ,106 Regulatory Reporting Specialist 70,117 78,881 92,028 74,499 96,410 87,646 77, ,175 94,657 Regulatory Reporting Specialist, Sr. 72,851 81,958 95,617 77, ,170 91,064 80, ,277 98,349 Regulatory Reporting Manager 81,593 91, ,091 86, , ,992 89, , ,151 Teller 25,312 28,476 33,222 26,894 34,804 31,640 27,843 37,968 34,171 Vice President, Buy Side 264, , , , , , , , ,692 Vice President, Sell Side 264, , , , , , , , ,692 Wholesaler 50,293 52,888 54,510 35,382 64,170 51,324 39,473 80,011 58,109 All salaries are in US$ For more details on defining salaries and understanding trends in the job market, contact your Parker + Lynch representative. 13

16 Accounting + Finance Accountant, Staff Readies and maintains financial and business transactions, applying accounting principles, which include work that is analytical, evaluative and advisory in nature, and that requires an understanding of both accounting theory and practice. May require a bachelor s degree in area of specialty and 0-2 years of experience in the field or in a related area. Accountant, Sr. Readies and maintains financial and business transactions, applying accounting principles, which include work that is analytical, evaluative and advisory in nature, and that requires an understanding of both accounting theory and practice. Requires a bachelor s degree in area of specialty, and 4-6 years of experience in the field or in a related area. May lead and direct the work of others. Accounting Clerk Prepares and keeps financial and business transactions data up to date, and prepares reports to ensure accurate accounting records. Requires a high school diploma, or its equivalent, with 0-2 years of experience in the field or in a related area. Accounting Supervisor Supervises and trains less complex dayto-day general accounting functions and accounting operations, which include coding invoices and compiling data for various accounting reports. Leads most day-to-day operations of group. May require a bachelor s degree in area of specialty. Accounting Manager Manages professional level accounting functions and the preparation of reports including earnings, profits/losses, cash balances and cost accounting. Requires a bachelor s degree in area of specialty and at least 7 years of experience in the field or in a related area. Accounting Director Directs, coordinates and administers accounting operations, which may include general accounting, cost accounting, payroll, accounts payable and accounts receivable. Requires a bachelor s degree in area of specialty with at least 10 years of experience in the field or in a related area. Accounts Payable Clerk Supervises and coordinates accounts payable activities, including processing and payment of invoices and proper filing and storage of records. Requires a high school diploma, or its equivalent, with 0-2 years of experience in the field or in a related area. Accounts Payable Specialist Calculates, posts business transactions, processes invoices, verifies financial data for use in maintaining accounts payable records and provides other clerical support necessary to pay the obligations of the organization. Requires a high school diploma, or its equivalent, with 0-2 years of experience in the field or in a related area. Accounts Payable Specialist, Sr. Supervises and coordinates accounts payable activities of processing and payment of invoices in a timely fashion, proper matching of purchasing and receiving documents, correct distribution to general ledger expense accounts, timely and accurate payments and proper filing and storage of records. Requires a high school diploma, or its equivalent, with 2-4 years of experience in the field or in a related area. Accounts Payable Supervisor Supervises and coordinates accounts payable activities, processing payments and reconciliation of general ledger accounts. May require a bachelor s degree in area of specialty. Leads and directs the work of others. Accounts Payable Manager Manages and coordinates activities required to ensure an accurate accounts payable system. May require a bachelor s degree in a related area and at least 7 years of experience in the field. Accounts Receivable Clerk Oversees and coordinates accounts receivable activities including accuracy and corrections to customer accounts and reconciliation of revenue accounts. Requires a high school diploma, or its equivalent, with 0-2 years of experience in the field or in a related area. Accounts Receivable Specialist Prepares customer statements, bills and invoices. Reconciles expenses to the general ledger and other clerical tasks related to maintaining the accounts receivable records for an organization. Requires a high school diploma, or its equivalent, with 0-2 years of experience in the field or in a related area. Accounts Receivable Specialist, Sr. Coordinates and keeps records of accounts receivable activities, ensuring an accurate accounts receivable system. Develops work schedules, assigns duties and reviews work for accuracy, neatness and conformance to policies. Requires a high school diploma, or its equivalent, with 2-4 years of experience in the field or in a related area. Accounts Receivable Supervisor Supervises and coordinates accounts receivable activities, ensuring an accurate accounts receivable system. May require a bachelor s degree in area of specialty. Accounts Receivable Manager Manages and coordinates activities required to ensure an accurate accounts receivable system. May require a bachelor s degree in area of specialty and at least 7 years of experience in the field or in a related area. 14 parkerlynch.com/salaryguide

17 Assistant Controller Heads preparation, in an assistant role, or develops reports that summarize and forecast company business activity and financial position. Requires a bachelor s degree in area of specialty with at least 10 years of experience in the field or related area. Leads and directs the work of others. Assistant Treasurer Assists the treasurer with the receipt, disbursement, banking, protection and custody of funds, securities and financial instruments. Requires a bachelor s degree in area of specialty with at least 10 years of experience in the field or related area. Leads and directs the work of others. Billing Clerk Responsible for compiling monies owed by the company to vendors, suppliers or other organizations/individuals. Requires a high school diploma, or its equivalent, with 0-2 years of experience in the field or in a related area. Billing Specialist Responsible for preparation of bills and invoices, calculation of sales tickets and charge slips and verification of billing with accounts receivable ledger. Requires a bachelor s degree in area of specialty and 2-4 years of experience in the field or in a related area. Billing Specialist, Sr. Responsible for preparation of bills and invoices, calculation of sales tickets and charge slips and verification of billing with accounts receivable ledger. Requires a bachelor s degree in area of specialty and 4-6 years of experience in the field or in a related area. Billing Supervisor Coordinates and analyzes customer billing and accounts receivable management. May require a bachelor s degree in area of specialty. Performs invoice preparation, audits and edits pre-bills, and performs write-offs when approved by management. Billing Manager Coordinates and analyzes customer billing and accounts receivable management and may supervise billing clerks. May require a bachelor s degree in area of specialty and at least 3 years of experience in the field or in a related area. Bookkeeper Keeps books and accounting records of financial transactions for an establishment. May require an associate s degree or its equivalent with 2-4 years of experience in the field or in a related area. Budget Analyst Analyzes, advises and provides technical assistance in preparing budgets while seeking new ways to lower costs and increase efficiency. Requires a bachelor s degree and 0-2 years of experience in the field or in a related area. Budget Analyst, Sr. Reviews proposed financial plans, including budgets, for completeness, accuracy, conformance with established procedures, regulations and organizational objectives. Requires a bachelor s degree and 4-6 years of experience in the field or in a related area. Budget Manager Manages activities of personnel responsible for formulation and presentation of budgets for controlling funds to implement program objectives of an organization. Requires a bachelor s degree and 5-7 years of experience in the field or in a related area. Cash Applications Clerk Provides support and service for the cash management needs of business banking clients, ensuring client retention and customer satisfaction. Requires a bachelor s degree in area of specialty and 3-5 years of experience in the field or in a related area. Chief Financial Officer Directs and coordinates company s financial affairs according to financial principles and government regulations, and establishes major economic objectives and policies for the company. Requires a bachelor s degree and at least 15 years of direct experience in the field. Collections Specialist Performs routine administrative tasks to support the collections group, including distributing documents, responding to customer needs, entering data and other clerical duties, as required. Requires a high school diploma, or its equivalent, and 2-4 years of related experience in the field or in a related area. Collections Specialist, Sr. Performs routine administrative tasks to support the collections group, including distributing documents, responding to customer needs, entering data and other clerical duties, as required. Requires a high school diploma, or its equivalent, and 4-6 years of related experience in the field or in a related area. Controller Directs and plans the preparation of reports that summarize and forecast company business activity and financial position in areas of income, expenses and earnings, based on past, present and expected operations. Requires a bachelor s degree and at least 15 years of direct experience in the field. Cost Accountant Provides detailed cost information and data analysis not supplied by general accounting systems via applying principles of cost accounting. May require a bachelor s degree and 0-2 years of experience in the field or in a related area. Cost Accountant, Sr. Provides detailed cost information and data analysis not supplied by general accounting systems via applying principles of cost accounting. Requires a bachelor s degree and 4-6 years of experience in the field or in a related area. 15

18 Cost Accountant Manager Manages and oversees professional cost accounting activities including implementing cost control procedures, providing staff supervision over cost systems and methods, and managing the compilation of periodic statements of product cost. Requires a bachelor s degree in a related area and at least 7 years of experience in the field. Credit & Collections Clerk Interviews credit applicant to obtain financial and personal data for credit report. Contacts former employers and other acquaintances to verify references and employment, and investigates credit risk in customers and suppliers. Requires a high school diploma, or its equivalent, with 0-2 years of experience in the field or in a related area. Credit & Collections Manager Develops and administers credit and collection programs and oversees investigation of credit risk in customers and suppliers, and monitors the collection of amounts due to the organization. Requires a bachelor s degree in a related area and at least 7 years of experience in the field. Manages a credit and collection staff. Credit Analyst Assesses credit information to determine risk involved in lending money to customers, and prepares report of findings. May require a bachelor s degree and 0-2 years of experience in the field or in a related area. Credit Analyst, Sr. Assesses credit information to determine risk involved in lending money to customers, and prepares report of findings. Requires a bachelor s degree and at least 5 years of experience in the field or in a related area. Finance Manager Offers finance and insurance options to clients through established relationships with lenders/providers. May require a bachelor s degree in area of specialty and at least 5 years of experience in the field or in a related area. Leads and directs the work of others. Finance Director Directs and aids in financial analysis, evaluation and report generation activities of current and proposed financial plans. Typically requires an advanced degree with at least 10 years of experience in the field. Financial Analyst Analyzes past and present financial data of an organization and estimates future revenues and expenditures. Requires a bachelor s degree and 0-2 years of experience in the field or in a related area. Financial Analyst, Sr. Analyzes past and present financial data of an organization and estimates future revenues and expenditures. Requires a bachelor s degree and 4-7 years of experience in the field or in a related area. Financial Analyst Manager Manages conduct of statistical analyses of information affecting financial and accounting programs of public, industrial and/or financial organizations through subordinate financial analysis staff. Requires a bachelor s degree in a related area and at least 7 years of experience in the field. Financial Reporting Accountant Manages all Securities and Exchange Commission (SEC) external reporting requirements, including preparation and filing of Form 10-K, 10-Q, Form 8-K, Proxy Statement and other periodic governmental reports. Requires a bachelor s degree in area of specialty and 0-2 years of experience in the field or in a related area. Financial Reporting Accountant, Sr. Oversees all Securities and Exchange Commission (SEC) external reporting requirements, including preparation and filing of Form 10-K, 10-Q, Form 8-K, Proxy Statement and other periodic governmental reports. Requires a bachelor s degree in area of specialty and 4-6 years of experience in the field or in a related area. May lead and direct the work of others. Financial Reporting Manager Manages all Securities and Exchange Commission (SEC) external reporting requirements, including preparation and filing of Form 10-K, 10-Q, Form 8-K, Proxy Statement and other periodic governmental reports. Requires a bachelor s degree in a related area and at least 7 years of experience in the field. Financial Reporting Director Directs and oversees the preparation and distribution of financial statements for external use and ensures that all documentation complies with company s regulations, professional standards and SEC/GAAP reporting guidelines. Requires a bachelor s degree in a related area and at least 10 years of experience in the field. Internal Auditor Reviews and determines effectiveness of controls, accuracy of financial records and efficiency of operations for management in an organization. Requires a bachelor s degree in accounting and 0-2 years of experience in the field or in a related area. Internal Auditor, Sr. Reviews and determines effectiveness of controls, accuracy of financial records and efficiency of operations for management in an organization. Requires a bachelor s degree in accounting and 4-6 years of experience in the field or in a related area. May lead and direct the work of others. 16 parkerlynch.com/salaryguide

19 Internal Audit Manager Conducts reviews to identify financial and business risks and assesses compliance with regulations. Contributes to the development of strategies and procedures for carrying out internal audits. Evaluates internal controls to identify areas needing improvement. Assists in the coordination and implementation of internal audits. Reports audit results in writing and in presentations. Undergraduate degree in accounting or finance and 4-6 years of experience required. Internal Audit Director Enforces compliance with company policies for risk assessment and financial controls. Conducts reviews to identify financial and business risks, and implements appropriate controls. Develops strategies and procedures for carrying out internal audits. Oversees external audits, organizing paperwork and making sure audits are finished on schedule. A bachelor s degree in accounting, finance, information technology or a related field is required, and at least 10 years of accounting experience. Internal Audit Vice President Trains and manages the internal auditing staff and conducts evaluations. Designs methods to assess and mitigate business risks. Conducts internal audits, determines the objectives of audits and tracks audit results. Proposes methods to improve processes and problem areas identified by audits. Requires over 15 years of extensive related experience, and at least a bachelor s degree in a related field. Payroll Clerk Processes organization s payroll and compiles payroll data to maintain accurate payroll records, balancing payroll runs, producing federal, state and local tax payments. Requires a high school diploma, or its equivalent, with 0-3 years of experience in the field or in a related area. Payroll Specialist Inputs data from time sheets, production records, or individual time cards to computerized payroll system. Requires a high school diploma, or its equivalent, with 0-3 years of experience in the field or in a related area. Payroll Specialist, Sr. Processes employee status changes, processes and analyzes payroll and employee expenses, reconciles general ledger accounts, creates ongoing month-end, quarterly and yearend organizational reports, generating accurate reports and performs other duties as assigned. Requires a high school diploma, or its equivalent, with 2-5 years of experience in the field or in a related area. Payroll Supervisor Supervises and coordinates activities of payroll workers, including recording hours of work, processing time records, compiling payroll statistics, maintaining payroll control records and calculating payrolls. May require a bachelor s degree in area of specialty. Payroll Manager Manages and coordinates activities of staff and payroll systems at one or more locations. Requires a bachelor s degree in a related area and at least 7 years of experience in the field and manages payroll staff. Tax Accountant Prepares federal, state or local tax returns for individuals, business establishments or other organizations. May require a bachelor s degree and 0-2 years of experience in the field or in a related area. Tax Accountant, Sr. Prepares federal, state or local tax returns for individuals, business establishments or other organizations. Requires a bachelor s degree and 4-6 years of experience in the field or in a related area. Tax Manager Manages department responsible for preparation of state, federal and local tax returns. Manages the tax accounting staff and requires a bachelor s degree in a related area and at least 7 years of experience in the field. Leads and directs the work of others. Tax Director Directs activities of department and personnel responsible for ensuring that tax reports have been properly prepared and filed. Requires a bachelor s degree with at least 10 years of experience in the field. Treasurer Directs and coordinates the organization s treasury activities including receipt, disbursement, banking, protection and custody and investment of funds, securities and financial instruments. Requires a bachelor s degree and at least 15 years of direct experience in the field. Treasury Analyst Reviews and analyzes all operational cash flows for the organization and advises management on investments and loans for short- and long-range financial plans. May require a bachelor s degree in area of specialty and 0-2 years of experience in the field or in a related area. Treasury Analyst, Sr. Reviews and analyzes all operational cash flows for the organization. Determines procurement of funds and monitors investments and collections. May lead and direct the work of others. May require a bachelor s degree and 5-8 years of experience in the field or in a related area. 17