plus some predictions about where the job market is headed.
by 卡塔尔世界杯常规比赛时间 research
here’s a statistic you can probably sympathize with. according to new salary data, 99 percent of finance professionals report experiencing some level of burnout in the past year.
research: partners: your middle managers are getting burnout
more: the slow, painful death of the 150-hour rule | partner comp earnings gap: what’s the right spread? | main street accountants see turbulence ahead for small business | partners: your middle managers are getting squeezed | gear up for growth |
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unless you’re in that other 1 percent, you know how it feels. and who could blame you for feeling that feeling and then looking at your paycheck?
are you earning the average?
the demand for finance and accounting professionals is high and going higher, according to the 2024 randstad salary guide.
last year, the cpa practice advisor found that 62 percent of companies were planning to add full-time roles in accounting, and 78 percent expected to contract workers to fill some of those jobs.
good luck to those companies! unemployment among accountants ran at 1.7 percent for several months last year. that doesn’t leave many job candidates roaming the market, or at least not desperately.
the most sought-after and hard-to-find skill sets in that market, according to randstad:
- bookkeepers and accounting clerks
- financial analysts
- accountants and cpas
- risk managers and analysts
- credit analysts and authorizers
despite the market’s desperation for these skill sets, salaries aren’t all that high. here are a few averages, with the ranges reflecting experience. (and before you get too excited, see below for some geographical variance.)
- accounts payable clerk: $35,583 to $52,242
- bookkeeper: $34,916 to $52,242
- staff accountant: $57,719 to $104,788
- junior accountant: $57,719 to $104,788
- senior accountant: $57,719 to $104,788
- internal auditor: $72,139 to $128,654
- tax accountant: $64,235 to $107,621
- tax manager: $104,424 to $162,725
- controller: $94,630 to $201,452
- chief accounting officer: $105,518 to $297,934
however, these figures vary according to region, and the adjustments can be substantial. here are a few samples of percentages that apply to each salary.
- oklahoma city -6.1%
- atlanta -3.7%
- indianapolis -1.4%
- dallas -0.8%
- pittsburgh 2.9%
- chicago 3.2%
- miami 11.2%
- boston 35.4%
- new york 37.5%
- san francisco 65.1%
enter ai
how long will those numbers be valid? good question, because ai is going to impact not only salaries but job descriptions. randstad says that the market for ai-powered software and technology is forecast to grow at a compound rate of around 45 percent over the next five years.
“what’s surprising, in that context,” the guide says, “is the extent to which many enterprises seem to be underleveraging advanced automation and other new technologies.”
as underleveraging gets corrected by more ai, job descriptions will evolve. “instead of domain expertise exclusively in finance and accounting, for example,” the guide says, “having the technical competency to also leverage new tools and technologies will be a major differentiator in 2024.”
here are some highlights from narratives in the guide:
- accounts payable/receivable clerks will be in high demand, especially in new york, california and illinois.
- financial analyst is the second-most-in-demand position because analysts influence organizational strategies.
- accounting manager was the third-most-posted position on job boards in 2023, and the high demand is expected to continue.
- senior-level leaders qualified to become controllers are extremely limited in number.
- staff accountants are especially in demand in california, texas, and florida, and the demand will remain high nationwide.
other professions
if you’re among the burnt-out and underpaid and thinking about another career, here’s what other professionals are making:
- office manager: $45,112 to $80,764
- sales representative: $37,979 to $86,312
- pharmacist: $115,023 to $150,783
- project manager: $57,659 to $159,345
- sap apps developer: $90,258 to $163,262
- robotics engineer: $101,627 to $167,966
- tax attorney: $77,538 to $204,313
- chief dei officer: $105,518 to $297,934