(February 15 – 12:00 ET) – Starting salaries in accounting and finance are projected to increase by an average of 5.1% in 2001, according to the 2001 Robert Half and Accountemps Salary Guide.

Accountants with one to three years of experience will see the most significant starting salary increases in public accounting. Base compensation for these professionals is projected to rise by an average of 11.0% at large public accounting firms. Accountants with up to one year of experience at small- and mid-sized public accounting firms will also see a jump in average starting salaries, with an 8.2% increase forecast.

In corporate accounting, the most notable increases in base compensation will occur among large companies, according to the Salary Guide. Starting salaries for senior analysts are expected to increase 11.8% in 2001. Vice Presidents of Finance in mid-size firms will see an 11.6% rise in base compensation, while senior analysts at small- to mid-sized firms will experience an 11.5% increase.

Vice presidents of finance at mid-size companies will see a 9.4% increase in starting salaries. Base compensation will range from $81,500 to $110,000 annually. Financial analysts with one to three years experience at large companies will see starting salaries increase 8.7%, bringing them to the range of $35,000 to $45,750 per year. Base compensation will increase 8.7% for analysts with one to three years of experience at mid-size companies to the range of $35,500 to $45,750.

Public accountants with up to one year of experience in mid-size firms will see starting salaries increase 8.2% to the range of $32,000 to $40,250. Those with one to three years of experience will see a 7.9% increase, base compensation will range from $36,500 to $48,500 annually.

Demand for accounting and finance professionals is expected to be particularly strong in industries such as high-tech, finance, insurance, real estate and construction. However, hiring activity varies significantly by geographic region. According to the Salary Guide, a graduate degree or professional certification can increase a candidate’s base compensation by an average of 12%.

Robert Half and Accountemps are the full-time and temporary placement divisions, respectively, of Robert Half International Inc., a staffing firm specializing in accounting, finance and information technology. The annual salary survey is based on an analysis of the thousands of job orders managed by the company’s Canadian offices.

“Accounting and finance professionals continue to be in strong demand as firms focus on improving financial performance,” said Trevor Zigelstein, a regional manager for Robert Half Canada. “To attract the best talent, companies are reassessing their compensation packages. In addition to increasing starting salaries, businesses are providing incentives such as performance-based bonuses, stock options and profit sharing.”
-IE Staff