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Connections
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Leadership
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Connections
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Budget
Management Adviser
Guidance Relationships
4
+
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6
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3
2
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Relationships
Technology
9
Pivot tablesXBRLFinancial reporting
Presentation skills Connections
Technology
Quarterly close
Accounting
Communication
Management
4
2
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6
Connections Compliance Collaboration
Guidance
Global
5
Tax
7
3
Soft skills
3
Accounting
4
Financial reporting
Financial
reporting
Relationships
Leadership
Management
Relationships
Growth
Technology
Connections
Soft skills
Strategy
Strategy Customer service
Compliance Regulations
IntegrityCommunication
Collaboration
Compliance
Accounting
Leadership General ledger Well-rounded Reconciliations
Business acumen Connections
Business acumen
Guidance
Reconciliations General ledger
Continuous learning
Negotiation
Adviser
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XBRL Negotiation
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2013
Salary Guide
Accounting and Finance
8
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Guidance
SUCCESS
SOLUTIONS
GROWTH
Leadership
MaRKETS
>
>>
IFRS
TEAMS
SKILLS
XBRL
TRENDS
Table of Contents
NNECTIONS
PEOPLE
OVERVIEW
TEAMWORK
HNOLOGY
GOAL
1
From the Chairman
2
3
10
16
17
18
19
Using the Guide
The Hiring Environment
Accounting and Finance Salaries
Customizing Salaries for Local Markets
The Advantages of a Flexible Staffing Approach
From the Chairman
Dear colleague:
Money may not be the sole reason employees choose
to join or stay with your firm, but it’s certainly one of their
key considerations. As the employment market changes
and accounting and finance professionals’ roles and
skill sets continue to evolve, keeping current with salary
trends can be challenging.
Employers need staff who understand what the firm’s
financial data mean to the organization and how to use
the information to shape business decisions. In addition,
accountants must possess strong interpersonal skills
and be able to build successful business relationships,
connecting with people across the office and, in some
cases, around the world.
To help you with your compensation decisions, we are
pleased to provide the 2013 Salary Guide. Each year,
the guide offers the latest projections on starting salaries
in accounting and finance, as well as insights into current
hiring, retention and staff management trends.
Robert Half: Your Staffing Expert
Sincerely,
Office Locations
>>
Max Messmer
Chairman and CEO
Robert Half International
All trademarks contained herein are the property of their respective owners.
Robert Half • 2013 Salary Guide 1
Using the Guide
The Hiring Environment
The 2013 Salary Guide from Robert Half gives you quick
access to the latest salary data from the people who understand accounting and finance staffing best. Our information
sources include:
Hiring has taken on greater urgency as more firms realize
they need to add staff to achieve growth objectives. Many
employers have reached the limit of what they can achieve
with existing staff. They are looking for professionals who
can fill roles that complement their teams and, perhaps
most critically, support expansion.
Negotiation
Year-end
Audits
Communication
Strategy
Integrity
Robert Half • 2013 Salary Guide 3
Pivot tables
Soft skills Regulations
Budget
Management
#
5
6
3
2
Regulations
x
Strategic decision making
5
6
Accounting
8
97 35
7 3
1
9
Accounting
XBRL Collaboration
Adviser
6 +
4
9
Well-rounded
Global
Audits
Relationships
Pivot tables
ERP Technology
4
4
8
5
1
4
7
Relationships
Soft skills StrategyNegotiation
+
2
#
5
#
Spreadsheets
4
6
8
2
43
2 9
+
8
4 57
3
Audits
3
7
Well-rounded Global
2
Adviser
Customer service
#
7
8
9
7
7
2
7 27
2
ERP
Tax Technology
Reconciliations
adership Soft skills
Negotiation Pivot tables
Collaboration
Compliance
Connections Relationships
4
4
7
4
Relationships
Tax Strategy
Connections
Connections
6
8
2 2013 Salary Guide • Robert Half
26
7
28 2
1
4
4
The changing employment landscape frequently comes
as a surprise to businesses looking to add staff. Many
are having difficulty finding people with the specialized
talents they need. Companies are realizing there are two
job markets at play: While general unemployment remains
high, university-degreed workers with specialized skills
are enjoying low unemployment. In fact, unemployment
rates in areas such as accounting and auditing and financial analysis are frequently well below the national average.
5
General ledger
Global
Connections
Accounting Regulations
Growth
Leadership
Adapt
9
43
To help address staffing shortfalls and alleviate the workloads of their full-time teams, companies are turning to
temporary and project-based professionals while they ride
out the economic recovery. In addition, a growing number
of employers are using temporary-to-hire arrangements
as a means of evaluating workers for positions.
A Tale of Two Job Markets:
Recruiting Challenges Intensify
43
+8
6#
+9
3
5
6
Management
Business acumen
For more than 60 years, we have published a new guide
annually to ensure our data reflect the most recent
employment trends. Employers, job seekers, academic
institutions, professional associations and the media rely
on the information in the Salary Guide.
8
Compliance
The salary ranges represent starting compensation only,
because factors such as service time and work ethic
make ongoing pay difficult to measure. Bonuses, incentives and other forms of compensation, such as benefits
and retirement packages, also are not taken into account.
4
Delaying the hiring process too much can also affect the
morale and retention of existing employees who may feel
they’ve waited long enough for reinforcements. Voluntary
turnover is rising as workers feel more confident about
leaving for other opportunities, and in-demand professionals are receiving salary increases when changing jobs.
Collaboration
Our Salary Guide includes projected starting salary
ranges for more than 145 accounting and finance positions. The figures in the guide are national averages but
can be adjusted for select markets across Canada using
the local variance information on Page 16.
5
3
972
2
6
Audits
• Exclusive workplace research we conduct regularly
among chief financial officers (CFOs), senior managers
and employees at organizations throughout Canada
Tax
• Robert Half’s comprehensive analysis of current and
future hiring trends
Still, some businesses are taking a conservative approach
to hiring. While a degree of caution is necessary to avoid
overhiring, companies that do not move quickly enough are
losing out on promising candidates. Already, talent shortages are emerging for positions such as financial analyst
and senior accountant.
XBRLAccounting
Leadership Adviser GAAP
• Our recruiting and staffing professionals who specialize
in accounting and finance and make thousands of fulltime and interim placements each year
Firms are looking for
professionals who can
fill roles that complement
their teams and, perhaps
most critically, support
expansion.
1
5
The Hiring Environment
The Hiring Environment
Employers must offer competitive salaries to hire top
professionals. Signing bonuses are reappearing in some
markets as a way to secure candidates. Annual and
discretionary bonuses, promotions, training and development opportunities, and flexible schedules also have
proved to be effective tools for attracting and retaining
sought-after talent.
Unemployment rates in
areas such as accounting
and auditing and financial
analysis are frequently
well below the national
average.
To guard against turnover, companies need to reward their
best people now, not after they receive another job offer.
Counteroffers are becoming increasingly common, but most
employers would rather not have to extend one since this
strategy has proved ineffective and damaging to staff morale.
CFOs were asked, “How important is it for entry-level accounting and finance
professionals to have gained work experience in the field while in college or
university?” Their responses:
Somewhat important
Very important
46%
32%
Where the Jobs Are
Employers are shifting their hiring focus toward core
accounting roles and positions that support business
growth. Financial analysts and business systems analysts
are in especially strong demand, as are experienced
accountants who can help companies manage business
expansion opportunities.
Entry-level hiring also is picking up, as firms show renewed
interest in professionals in the early stages of their careers,
hoping these employees will grow with the organization.
When hiring for these roles, employers often seek candidates with previous work experience gained through
internships or part-time jobs during college or university.
In-Demand Credentials and Skills
The chartered accountant (CA), certified general accountant (CGA), certified management accountant (CMA) and
chartered professional accountant (CPA) designations
continue to inspire confidence in employers and remain
the most frequently requested and versatile credentials.
Accounting professionals who have experience with a Big
Four accounting firm are in particularly high demand.
As the lines between technology and finance continue
to blur, the certified information systems auditor (CISA)
designation is increasingly popular. Other valued
certifications include the chartered financial analyst
(CFA), certified internal auditor (CIA), certified payroll
manager (CPM) and Association of Chartered Certified
Accountants (ACCA) Qualification.
4 2013 Salary Guide • Robert Half
5%
2%
15%
Somewhat unimportant
Not at all important
Don’t know/no answer
Source: Robert Half survey of more than 270 CFOs in Canada
The CA, CGA, CMA
and CPA designations
continue to inspire
confidence in employers
and remain the most
frequently requested
and versatile credentials.
A master’s degree in business administration (MBA)
remains valuable for senior finance and analyst roles.
For entry-level accounting positions, a degree in
accounting is more important than ever. Prospective
employers also are taking a closer look at grade point
averages and campus involvement when evaluating
early-career professionals.
Candidates with technology skills remain in demand.
Advanced knowledge of Microsoft Excel and Access is
valued by employers across the board. Companies also
seek professionals who can assist with upgrades of the
most widely used enterprise resource planning (ERP)
systems. Experience with software packages such as
Microsoft Dynamics GP (formerly Great Plains) and
QuickBooks is often requested by small and midsize
firms. Other sought-after skills include financial reporting
and analysis, forecasting, and budgeting.
Organizations also look for accounting and finance professionals with outstanding interpersonal skills. Employers
need staff skilled at communicating financial information
to diverse audiences.
Robert Half • 2013 Salary Guide 5
The Hiring Environment
The Hiring Environment
Positions in Demand
Cost accountants – Demand is steady for skilled cost
accountants who can help companies minimize costs by
merging accounting and analytical skills in a manufacturing environment.
Financial analysts – Demand for financial analysts exceeds
the supply in some markets. Companies place a premium
on business-savvy analysts who can help identify trends in
financial data and offer timely input for decision making.
Candidates with strong communication skills and an MBA
are highly sought.
Business systems analysts – Employers of all sizes are
working with business systems analysts to support better
decision making by enhancing their financial systems. As
firms continue to upgrade their information technology (IT)
infrastructures, demand is accelerating for professionals
who are familiar with company-specific ERP systems and
possess finance and technology expertise.
Accountants – Companies seek accountants at the staff,
senior and manager levels. Demand is especially strong
for those with at least three years of experience and an
accounting designation. Many firms that lost midlevel staff
in recent years due to cutbacks or attrition are eager to
groom new hires for future leadership roles.
Compliance officers – With the regulatory environment
constantly evolving, businesses need compliance officers
to oversee activities and report directly to top management.
A law degree is often required for executive positions,
as are strong leadership and communication skills.
Auditors – Demand is growing for auditors in public
accounting and industry. Companies have a need for
auditing services related to compliance and lending
requirements, as well as due diligence reviews.
IT auditors – Individuals who understand the connection between IT audit procedures and business process
controls and risks are highly sought.
6 2013 Salary Guide • Robert Half
Controllers – As they rebuild their finance-function infrastructures, growth-focused companies continue to hire
for this critical role.
>>
Companies place a
premium on businesssavvy analysts who can
help them identify trends
in financial data and
offer timely input for
decision making.
Spotlight on Healthcare
The healthcare industry in Canada is experiencing change on many levels –
and it’s driving the need for skilled financial talent throughout the sector.
Publicly funded and private organizations require accounting and finance
professionals who can help them keep pace with change, from still-evolving
regulatory mandates to new technical requirements, and manage and support
growth objectives.
The significant costs of providing healthcare to the public have led to enhanced
accountability across the healthcare spectrum. To meet service expectations,
both clinical and nonclinical support teams need financial professionals who can
provide guidance on compliance and the measurement of systems performance.
The further advancement of electronic medical records represents another
wave of change, as patients eventually will be managing and “curating” their
healthcare information online. Financial professionals with knowledge of health
informatics and those who maintain and provide financial data, such as business systems analysts, are being hired to handle initiatives related to the
collection of electronic medical information.
Within the industry, there also is renewed focus on two specific segments:
home care and mental healthcare. Organizations serving these sectors need
additional talent, such as financial analysts, to help them manage growth and
identify new opportunities. Divisional controllers and staff accountants also are
among the financial professionals needed to meet the growth and accountability standards for home care and mental healthcare providers.
>
>
Robert Half • 2013 Salary Guide 7
The Hiring Environment
The Hiring Environment
Public Accounting Overview
Increased demand from businesses for accounting, audit
and tax services is fueling hiring in public accounting.
Firms are looking to expand practice areas and pursue
new market segments.
Demand is especially strong for audit and tax professionals. Specialty areas seeing more hiring activity include
IT audit, business valuation and forensic accounting. Firms
generally also seek candidates with three to five years of
experience, but recruiting of entry-level professionals is
not uncommon.
Although public accounting firms have a steady demand
for staff, they are competing with businesses that also
have a renewed interest in adding professionals with
some of the same sought-after skills. To vie for talent,
accounting firms are improving compensation, but they
may need to further enhance their efforts.
Retention deserves special attention as experienced
accountants who feel overworked and undercompensated may begin to consider jobs outside of public
accounting with higher pay and better work/life balance.
In addition to offering competitive pay, public accounting
firms are working to attract and retain top performers
by promoting opportunities for career growth and a
team-oriented work environment.
Financial Services Trends
Financial services hiring is showing gradual improvement
as growth opportunities emerge. Investment management
firms and commercial and retail banks are adding staff.
At many banks, the adoption of new trading platforms has
increased the need for business analysts. Across financial institutions, there is demand for risk and compliance
professionals who can interpret tighter and constantly
evolving regulatory requirements – and implement
processes to ensure these mandates are met.
A wide range of organizations, including Schedule 1 banks,
insurance companies, investment banks, wealth and asset
management firms, and mortgage companies, look to
8 2013 Salary Guide • Robert Half
deepen the bench strength of their financial teams in the
year ahead. Many seek to fill roles in operations, business
development and treasury. Funding administration, market
and credit risk, as well as mining and investment analysis
are other areas where skilled talent is in demand. Hiring
for disciplines such as anti-money laundering, fraud and
subprime lending also is expected to increase.
Spurred by low interest rates, the retail and commercial lending environments have improved. This has led
to demand for relationship managers from commercial
and private banks. Operations professionals are needed
to support renewed consumer loan activity, especially
mortgage lending and refinancing. Roles related to loan
origination, underwriting and credit processing are among
those being added at a steady pace.
Among financial institutions, the competition for skilled
accounting and finance staff has intensified. Now that
the finance function has assumed a more strategic and
consultative role, there is particularly high demand for
professionals who can assist with budgeting, forecasting
and business planning.
Salaries in the financial sector are rebounding as well.
Top candidates for in-demand specialties are receiving
multiple job offers – and employers are recognizing the
need to be more flexible in hiring negotiations. Many
are increasingly willing to sweeten their compensation
packages to land the most talented candidates, especially in markets where skilled financial professionals are
in short supply.
Expect demand to be highest for candidates who possess
the CA, CPA or CFA designation, as has been the case
in years past. An MBA is also desirable, and, for some
positions, employers may seek candidates with a master’s
degree in mathematics or statistics. Professionals with
certifications such as financial risk manager (FRM), chartered alternative investment analyst (CAIA) and certified
anti-money laundering specialist (CAMS) also are likely
to see more employment opportunities.
Robert Half • 2013 Salary Guide 9
Accounting and Finance Salaries
Corporate Accounting
Corporate Accounting
2012
Title/Experience
Chief Financial Officer
a
2013
% Change
$ 170,000 - $ 269,000
$ 136,000 - $ 190,250
$ 120,750 - $ 164,750
$ 173,500 - $ 274,250
$ 139,000 - $ 194,250
$ 122,500 - $ 170,000
2.0%
2.1%
2.5%
(The above category assumes there is a corporate controller who reports to the CFO.)
Treasurer
a
$ 159,000 - $ 254,500
$ 120,000 - $ 177,750
$ 98,000 - $ 138,000
a
Vice President of Finance
a
Controller
2.0%
2.6%
3.1%
Manager
Senior
1 to 3 Years
Up to 1 Year
$
$
$
$
146,750
127,000
113,750
104,250
-
$
$
$
$
219,750
169,250
151,250
136,000
$
$
$
$
150,000
129,000
115,500
107,750
-
$
$
$
$
223,500
171,750
154,250
141,000
1.9%
1.5%
1.8%
3.5%
Analyst – Large Companies b
$
$
$
$
123,750
103,000
87,500
75,750
-
$
$
$
$
164,750
137,500
119,000
105,500
$
$
$
$
124,000
105,250
89,500
75,750
-
$
$
$
$
167,000
141,000
123,500
108,000
0.9%
2.4%
3.1%
1.4%
Analyst – Midsize/Small Companies b
-
$
$
$
$
133,000
106,750
92,000
78,250
$
$
$
$
97,500
85,750
75,250
63,750
-
$ 135,750
$ 108,750
$ 95,250
$ 81,500
2.0%
2.1%
3.0%
3.0%
Internal Auditor – Large Companies b
-
$
$
$
$
134,000
107,500
92,000
85,750
$
$
$
$
96,000
81,250
73,250
66,500
-
$ 136,000
$ 110,250
$ 93,750
$ 86,750
1.5%
2.4%
1.7%
1.7%
Internal Auditor – Midsize/Small Companies b
$ 121,750 - $ 186,750
$ 99,500 - $ 145,000
2.4%
2.4%
– Company Sales in Millions
$250+
$100 to $250
$50 to $100
Up to $50
a
Assistant Controller
– Company Sales in Millions
$250+
$100 to $250
$50 to $100
Up to $50
$
$
$
$
a
Assistant Treasurer
$
$
$
$
a
Tax Manager
95,750
83,750
73,500
62,750
– Company Sales in Millions
$250+
$100 to $250
$50 to $100
Up to $50
94,500
79,500
72,250
65,000
– Company Sales in Millions
$250+
$150 to $250
Manager
Senior
1 to 3 Years
Up to 1 Year
$ 162,750 - $ 259,000
$ 124,000 - $ 181,500
$ 100,500 - $ 142,750
– Company Sales in Millions
$250+
$100 to $250
$50 to $100
Up to $50
2013
% Change
$
$
$
$
76,750 59,750 44,250 37,500 -
$
$
$
$
100,500
77,500
60,500
45,750
$
$
$
$
77,000 60,750 44,500 37,750 -
$
$
$
$
101,500
80,000
61,000
45,750
0.7%
2.6%
0.7%
0.3%
$
$
$
$
65,250 54,500 40,250 35,500 -
$
$
$
$
86,000
72,250
53,000
42,000
$
$
$
$
66,750 57,250 41,500 35,750 -
$
$
$
$
87,500
73,500
54,500
43,000
2.0%
3.2%
2.9%
1.6%
$
$
$
$
82,250
65,750
47,500
41,000
-
$
$
$
$
113,000
87,500
64,500
49,250
$
$
$
$
83,000 67,000 47,750 41,500 -
$
$
$
$
114,000
87,750
65,500
49,500
0.9%
1.0%
1.1%
0.8%
$
$
$
$
72,750 61,000 44,250 37,000 -
$
$
$
$
94,000
79,000
58,000
46,000
$
$
$
$
73,750 62,750 45,000 37,750 -
$
$
$
$
95,250
80,250
58,250
46,250
1.3%
2.1%
1.0%
1.2%
$
$
$
$
92,750 76,750 63,500 54,000 -
$
$
$
$
132,750
99,250
81,000
66,000
$
$
$
$
95,750 78,250 64,250 54,500 -
$
$
$
$
134,500
102,500
82,250
66,000
2.1%
2.7%
1.4%
0.4%
$
$
$
$
82,500 71,250 57,750 47,250 -
$
$
$
$
118,750
90,250
73,750
59,750
$
$
$
$
84,500 73,250 59,500 47,500 -
$
$
$
$
121,250
93,500
75,000
61,250
2.2%
3.3%
2.3%
1.6%
Accountant – Midsize/Small Companies b
– Company Sales in Millions
$250+
$100 to $250
$50 to $100
2012
Title/Experience
Accountant – Large Companies b
– Company Sales in Millions
$250+
$100 to $250
$50 to $100
Accounting and Finance Salaries
$ 118,500 - $ 182,750
$ 99,000 - $ 139,750
Manager
Senior
1 to 3 Years
Up to 1 Year
Manager
Senior
1 to 3 Years
Up to 1 Year
Manager
Senior
1 to 3 Years
Up to 1 Year
Manager
Senior
1 to 3 Years
Up to 1 Year
a. Bonuses and incentives reflect an increasingly large part of overall pay at this level and are not included in the salary ranges
listed above. Advanced degrees or professional certifications also are assumed at this level.
b. Large companies = $250+ million in sales
Midsize/small companies = up to $250 million in sales
Unless otherwise noted (see footnote “a”), add 5-10 per cent for graduate degrees or professional certifications.
Unless otherwise noted (see footnote “a”), add 5-10 per cent for graduate degrees or professional certifications.
10 2013 Salary Guide • Robert Half
Robert Half • 2013 Salary Guide 11
Accounting and Finance Salaries
Accounting and Finance Salaries
Corporate Accounting
Public Accounting
2012
Title/Experience
2013
% Change
IT Auditor – Large Companies b
Manager
Senior
1 to 3 Years
Up to 1 Year
$
$
$
$
91,750 76,500 65,000 55,250 -
$ 131,750
$ 102,250
$ 84,000
$ 67,000
$
$
$
$
93,750
78,500
66,250
56,000
-
$ 137,750
$ 107,000
$ 87,000
$ 67,500
3.6%
3.8%
2.9%
1.0%
Manager a
Supervisor a
Senior
1 to 3 Years
Up to 1 Year
$
$
$
$
81,500 69,000 57,000 49,250 -
$ 120,000
$ 89,000
$ 73,250
$ 61,000
$
$
$
$
83,500
72,500
58,500
50,000
-
$ 122,750
$ 93,000
$ 75,250
$ 61,750
2.4%
4.7%
2.7%
1.4%
Public Accountant – Midsize/Small Firms c,d
68,750 49,750 37,000 33,500 -
$
$
$
$
98,500
66,250
47,250
40,000
$
$
$
$
70,250
51,250
38,000
33,750
-
$
$
$
$
98,750
67,750
48,000
40,500
1.0%
2.6%
2.1%
1.0%
$
$
$
$
73,750
57,000
44,500
38,000
$
$
$
$
57,750
47,250
36,750
33,000
-
$
$
$
$
76,000
58,250
45,500
39,000
2.9%
3.2%
1.9%
2.9%
$ 49,500 - $
66,250
$ 51,750 - $
67,500
3.0%
$ 44,500 - $
$ 39,000 - $
$ 32,250 - $
61,000
50,250
42,750
$ 45,750 - $
$ 39,500 - $
$ 33,250 - $
61,500
50,750
43,250
1.7%
1.1%
2.0%
$
$
$
$
93,000
68,500
55,750
47,000
$
$
$
$
96,250
70,250
56,250
47,500
2.3%
2.8%
1.0%
1.2%
Credit and Collections – Large Companies b
Manager
Senior
1 to 3 Years
Up to 1 Year
$
$
$
$
Credit and Collections – Midsize/Small Companies b
Manager
Senior
1 to 3 Years
Up to 1 Year
$
$
$
$
56,250 45,250 36,250 32,000 -
Bookkeeper/General Accounting
Accounts Payable/
Accounts Receivable Supervisor
Full Charge Bookkeeper
Bookkeeper/Assistant
Accounting Clerk
2013
% Change
Public Accountant – Large Firms c,d
IT Auditor – Midsize/Small Companies b
Manager
Senior
1 to 3 Years
Up to 1 Year
2012
Title/Experience
Manager a
Supervisor a
Senior
1 to 3 Years
Up to 1 Year
$
$
$
$
$
89,000
75,750
64,500
52,000
42,250
-
$ 129,500
$ 94,500
$ 80,750
$ 66,750
$ 51,000
$
$
$
$
$
90,000
77,250
66,000
52,500
42,250
-
$ 131,500
$ 96,750
$ 82,750
$ 67,250
$ 51,750
1.4%
2.2%
2.4%
0.8%
0.8%
$
$
$
$
$
79,500
67,500
56,750
43,750
37,750
-
$ 113,500
$ 86,750
$ 73,500
$ 56,750
$ 48,500
$
$
$
$
$
80,750
70,250
58,250
45,250
38,250
-
$ 115,500
$ 89,000
$ 74,750
$ 58,500
$ 49,000
1.7%
3.2%
2.1%
3.2%
1.2%
$
$
$
$
128,750
92,750
74,000
60,000
-
$ 195,500
$ 146,750
$ 94,750
$ 75,500
$
$
$
$
131,750
95,000
76,750
61,250
-
$ 200,250
$ 153,000
$ 98,000
$ 77,250
2.4%
3.5%
3.6%
2.2%
$ 90,000 - $ 133,500
$ 72,250 - $ 90,000
$ 54,500 - $ 71,500
2.8%
3.7%
1.6%
Public Tax Accountant – Large Firms c,d
International a
Manager a
Senior
1 to 3 Years
Public Tax Accountant – Midsize/Small Firms c,d
Manager a
Senior a
1 to 3 Years
$ 88,000 - $ 129,500
$ 69,250 - $ 87,250
$ 53,500 - $ 70,500
Payroll
Manager
Supervisor
Coordinator
Administrator
67,500 55,750 43,000 37,500 -
$
$
$
$
68,000
57,500
43,500
38,000
-
$
$
$
$
b. Large companies = $250+ million in sales
Midsize/small companies = up to $250 million in sales
a. Bonuses and incentives reflect an increasingly
large part of overall pay at this level and are not
included in the salary ranges listed above.
Advanced degrees or professional certifications
also are assumed at this level.
Unless otherwise noted (see footnote “a”), add 5-10 per cent for graduate degrees or professional certifications.
Unless otherwise noted (see footnote “a”), add 5-10 per cent for graduate degrees or professional certifications.
12 2013 Salary Guide • Robert Half
c. Large firms = $250+ million in sales
Midsize/small firms = up to $250 million in sales
d. Salary does not reflect overtime or bonuses, which
are significant portions of compensation for these
positions.
Robert Half • 2013 Salary Guide 13
Accounting and Finance Salaries
Accounting and Finance Salaries
Financial Services
Financial Services
2012
Title/Experience
2013
% Change
Finance and Accounting
Controller - Sell Side
Controller - Buy Side
Investment Accountant
Financial Analyst
Regulatory Reporting Specialist
Product Control Manager
Profit and Loss Analyst
Hedge Fund Accountant
Mutual Fund Accountant
$
$
$
$
$
$
$
$
$
178,500 152,750 53,750 63,250 82,000 66,750 49,250 48,000 38,000 -
$
$
$
$
$
75,000 42,000 72,000 42,000 43,250 -
$
$
$
$
$
76,500 43,000 73,500 42,500 44,000 -
$
36,250 - $
$ 100,000
$ 47,000
$ 97,500
$ 47,000
$ 62,250
52,500
$ 42,000 - $ 65,000
$ 65,750 - $ 82,000
$ 80,000 - $ 118,000
$ 50,000 - $ 80,000
$ 55,250 - $ 70,000
$ 73,000 - $ 95,000
$ 39,000 - $ 45,000
$ 44,500 - $ 63,750
$ 37,000 - $ 50,000
$ 44,500 - $ 63,750
$ 37,750 - $ 58,750
$
$
$
$
$
$
$
$
$
204,000
183,500
81,000
92,000
91,750
97,000
85,000
104,000
61,500
2.0%
1.9%
0.9%
1.6%
2.2%
2.3%
1.7%
1.5%
1.3%
$ 101,250
$ 47,500
$ 98,250
$ 48,000
$ 63,500
1.6%
1.7%
1.3%
1.7%
1.9%
$ 37,000 - $
$
$
$
$
$
$
$
$
$
$
$
42,750 67,000 82,000 50,500 56,000 74,250 39,500 45,500 38,000 45,500 39,500 -
Unless otherwise noted, add 5-10 per cent for graduate degrees or professional certifications.
14 2013 Salary Guide • Robert Half
2013
% Change
Risk and Compliance
$ 175,000 - $ 200,000
$ 150,000 - $ 180,000
$ 53,000 - $ 80,500
$ 62,000 - $ 90,750
$ 80,000 - $ 90,000
$ 65,000 - $ 95,000
$ 48,000 - $ 84,000
$ 46,500 - $ 103,250
$ 37,000 - $ 61,250
Operations
Hedge Fund Operations Manager
Hedge Fund Administrator
Mutual Fund Operations Manager
Mutual Fund Administrator
Portfolio Administrator
Trade Settlement/
Reconciliation Specialist
Corporate Actions Specialist
Treasury/Liquidity Operations Specialist
Treasury Manager
Pricing/Valuation Analyst
Investor Services Representative
Client Services Manager
Client Services Representative
Mortgage Underwriter
Mortgage Administrator
Loan Underwriter
Loan Administrator
2012
Title/Experience
$
$
$
$
$
$
$
$
$
$
$
53,000
1.4%
65,500
84,000
120,000
81,500
72,000
97,000
45,750
65,000
50,750
65,000
59,250
1.2%
2.2%
2.0%
1.5%
2.2%
1.9%
1.5%
2.1%
2.0%
2.1%
2.3%
Chief Risk Officer
Market Risk Manager
Market Risk Analyst
Operational Risk Manager
Operational Risk Analyst
Credit Risk Manager
Credit Risk Analyst
Chief Compliance Officer
Compliance Manager
Compliance Analyst/Officer
Chief Anti-Money Laundering Officer
Fraud Investigator
Auditor
$
$
$
$
$
$
$
$
$
$
$
$
$
155,000
75,000
62,000
73,000
60,000
75,500
60,000
130,000
95,250
65,000
130,000
55,000
70,000
-
$
$
$
$
$
$
$
$
$
$
$
$
$
185,000
110,000
75,000
105,000
75,000
110,000
75,000
165,000
130,250
94,000
170,000
90,000
100,000
$
$
$
$
$
$
$
$
$
$
$
$
$
158,000
76,500
63,250
74,500
62,000
77,000
62,000
135,000
97,000
66,750
133,500
57,000
71,500
-
$
$
$
$
$
$
$
$
$
$
$
$
$
190,000
115,000
77,750
110,000
76,500
115,000
77,000
168,000
134,000
97,000
175,500
92,500
102,000
2.4%
3.5%
2.9%
3.7%
2.6%
3.5%
3.0%
2.7%
2.4%
3.0%
3.0%
3.1%
2.1%
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
198,000
160,000
85,000
75,000
190,000
150,000
80,000
65,000
89,000
89,000
54,000
80,000
60,000
65,000
85,000
72,500
60,000
75,000
80,750
42,250
-
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250,000
210,000
120,000
90,000
245,000
205,000
100,000
85,000
116,500
116,500
89,250
128,000
90,000
95,500
120,000
103,250
75,000
100,000
125,000
62,500
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
202,000
163,250
86,750
76,500
195000
153,250
81,500
66,250
90,750
90,750
55,000
82,500
62,500
67,500
87,000
75,500
62,000
77,000
82,250
43,250
-
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
258,500
215,000
122,500
91,750
250,000
210,000
102,000
86,750
120,000
120,000
90,000
131,000
92,000
98,250
125,000
105,000
77,000
102,000
127,500
64,750
2.8%
2.2%
2.1%
2.0%
2.3%
2.3%
1.9%
2.0%
2.6%
2.6%
1.2%
2.6%
3.0%
3.3%
3.4%
2.7%
3.0%
2.3%
1.9%
3.1%
Banking and Financial Markets
Managing Director/Partner - Sell Side
Vice President - Sell Side
Associate - Sell Side
Analyst - Sell Side
Managing Director/Partner - Buy Side
Vice President - Buy Side
Associate - Buy Side
Analyst - Buy Side
Fund Manager
Portfolio Manager
Private Banker
Business Development Officer
Consumer/Residential Lending Officer
Commercial Lending Officer
Product Development Specialist
Quantitative Analyst
Credit Analyst
Investor Relations Professional
Wholesaler
Insurance Underwriter
Unless otherwise noted, add 5-10 per cent for graduate degrees or professional certifications.
Robert Half • 2013 Salary Guide 15
Customizing Salaries for
Local Markets
The national salary ranges can be customized for select
cities in Canada using the local variances listed below.
This information is intended to serve as a guide for determining average starting salaries. A number of factors,
including company size, employee benefits, candidate skill
sets and market trends, may affect actual compensation.
Alberta
Calgary . . . . . . . . . . . . . . . . . . . 104.1
Edmonton . . . . . . . . . . . . . . . . 102.1
British Columbia
Fraser Valley . . . . . . . . . . . . . . . 98.1
Vancouver . . . . . . . . . . . . . . . . 103.5
Victoria . . . . . . . . . . . . . . . . . . . . . 95.2
The Advantages of a
Flexible Staffing Approach
There’s a change taking place in the way businesses staff
their operations. Firms are increasingly attracted to the
flexibility they gain by employing a combination of full-time,
temporary and project professionals.
The information is supported by the expertise of our local
staffing and recruiting managers, independent research,
and our company’s ongoing surveys of CFOs and other
business leaders. The average salary index for all Canadian
markets is 100.
This approach gives firms greater control over their human
resources budgets and access to skilled talent when
and for as long as they need it. As companies continually
rebalance their workforces in good and difficult times,
many are discovering that a year-round mix of core fulltime employees and interim workers is the best way to
stay nimble and react to business needs.
Follow the steps below to calculate the approximate salary
range for a specific position in your area:
Here are five advantages you gain by using temporary and
project workers as part of your workforce mix. You can:
Example: Senior analyst at a midsize/small
company in Toronto
1. Adjust staffing levels to the ebb and flow of business
demands, helping you keep costs under control
1. Locate the position and national salary range on Page 11
for a senior analyst at a midsize/small company.
(The salary range is $62,750 to $80,250.)
2. Locate the index number for Toronto.
(The index number for Toronto is 104.9.)
3. Move the decimal point in the index number two places
to the left (1.049).
4. Multiply the low end of the national salary range ($62,750)
by the index number as a percentage (from step 3).
$62,750 x 1.049 = $65,825
5. Repeat step 4 using the high end of the salary range
($80,250).
$80,250 x 1.049 = $84,182
6. The approximate starting salary range for a senior
analyst at a midsize/small company in Toronto is
$65,825 to $84,182.
2. Ease the burden on employees who may already be
spread too thin
Manitoba
Winnipeg . . . . . . . . . . . . . . . . . . 90.5
Ontario
Kitchener-Waterloo . . . . . . . . 95.5
Ottawa . . . . . . . . . . . . . . . . . . . 100.2
Toronto . . . . . . . . . . . . . . . . . . . 104.9
16 2013 Salary Guide • Robert Half
3. Handle special projects outside the expertise of
current staff – more professionals are drawn to interim
work because of the flexibility and opportunities it
provides, giving you access to a deeper talent pool
4. Ease the concerns of full-time workers, who may be
subject to nerve-racking cycles of hiring and layoffs
5. Assess prospective full-time employees firsthand
Québec
Montréal . . . . . . . . . . . . . . . . . . 102.9
Québec City . . . . . . . . . . . . . . . 89.2
Saskatchewan
Regina . . . . . . . . . . . . . . . . . . . . 93.9
Saskatoon . . . . . . . . . . . . . . . . . 95.6
Robert Half • 2013 Salary Guide 17
Robert Half:
Your Staffing Expert
Our network is enhanced
by strong business relationships with premier
professional associations,
including:
• Association of Chartered
Certified Accountants
• Canadian Institute of
Chartered Accountants
• The Canadian Payroll
Association
• Certified General
Accountants Association
of Canada
• Certified Management
Accountants of Canada
• Chartered Institute of
Management Accountants
• Credit Institute of Canada
• Financial Executives
International Canada
• Ordre des CPA
du Québec
• The Institute of Internal
Auditors
Robert Half is the world’s leading specialized staffing
firm. Through our Accountemps, Robert Half Finance &
Accounting and Robert Half Management Resources
divisions, we place highly skilled accounting and finance
professionals on a temporary, full-time and senior-level
project basis, respectively. Our Robert Half Financial
Services division is the premier provider of staffing
solutions to financial institutions in top markets around
the world. We also offer a full spectrum of consulting
services through our in-house access to the proven
methodologies of Protiviti, a global consulting firm that
helps companies solve problems in finance, technology,
operations, governance, risk and internal audit.
The many benefits we offer your business include:
• The right match – We can help you locate even the
most hard-to-find professionals. Our network includes
hundreds of thousands of talented professionals who
are pre-evaluated and available to work.
• Quick results – Our staffing experts, who commonly
possess accounting and finance experience, understand your unique business needs and use the latest
technologies to make faster matches.
• A range of candidates – We offer a selection of
professionals at various experience levels to meet your
budget, skills and experience requirements.
• Exceptional service – The hiring process is more
complex than ever. We handle the most challenging
aspects for you and can guide you every step of the
way. Communication is our specialty.
• Choices – We provide a number of options to meet
different needs, whether it’s a full-time hire, temporary
professionals to assist with peak workloads or a team of
experienced consultants to help manage a special initiative from start to finish.
• Reliability – Nine out of 10 of our clients and candidates would recommend our service to a colleague.
Office Locations
Call 1.800.803.8367 or visit roberthalf.ca/locations to contact the office nearest you.
CANADA
Alberta
Calgary – Downtown
Calgary – Suburban
Edmonton
British Columbia
Burnaby/Richmond
Fraser Valley
Vancouver
Manitoba
Winnipeg
Ontario
Brampton
Burlington
Kitchener-Waterloo
Markham
Mississauga
North York
Ottawa
Toronto
Vaughan
Québec
Laval
Montréal
Québec City
West Island
UNITED STATES
ALABAMA
Birmingham
ARIZONA
Chandler
Phoenix
Phoenix – West
Tucson
ARKANSAS
Fayetteville
Little Rock
CALIFORNIA
Bakersfield
Burbank
Carlsbad
Cerritos
City of Industry
Fairfield
Fremont
Fresno
Irvine
La Jolla
Laguna Niguel
Long Beach
Los Angeles
Los Angeles – LAX
Modesto
Monterey
Novato
Oakland
Ontario
Orange
Oxnard
Palm Springs
Palo Alto
Pasadena
Pleasanton
Rancho Bernardo
Rancho Cordova
Riverside
Sacramento
San Diego
San Francisco
San Jose
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CONNECTICUT
Danbury
Hartford
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Wilmington
DISTRICT OF COLUMBIA
Washington
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Boca Raton
Brandon
Coral Gables
Fort Lauderdale
Fort Myers
Heathrow
Jacksonville
Melbourne
Miami – Downtown
Naples
Orlando
St. Petersburg
Tampa
West Palm Beach
GEORGIA
Alpharetta
Atlanta – Buckhead
Atlanta – Galleria
Atlanta – South
Gwinnett
Macon
Savannah
HAWAII
Honolulu
IDAHO
Boise
ILLINOIS
Chicago
Fairview Heights
Gurnee
Hoffman Estates
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Northbrook
Oakbrook Terrace
Rosemont
Tinley Park
INDIANA
Fishers
Fort Wayne
Indianapolis – Downtown
Indianapolis – West
Merrillville
IOWA
Cedar Rapids
Davenport
Des Moines
West Des Moines
KANSAS
Overland Park
KENTUCKY
Lexington
Louisville
LOUISIANA
Baton Rouge
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MAINE
Portland
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Baltimore
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Hunt Valley
MASSACHUSETTS
Boston
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Ann Arbor
Dearborn
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Kalamazoo
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MINNESOTA
Bloomington
Burnsville
Minneapolis
Minnetonka
St. Cloud
St. Paul
MISSOURI
Creve Coeur
Kansas City
St. Louis
NEBRASKA
Omaha
NEVADA
Las Vegas
Reno
Contact Robert Half at roberthalf.ca or 1.800.803.8367 to
learn more about how we can assist you.
18 2013 Salary Guide • Robert Half
Robert Half • 2013 Salary Guide 19
Office Locations
NEW HAMPSHIRE
Manchester
Nashua
Portsmouth
NEW JERSEY
Bridgewater
Jersey City
Mount Laurel
Paramus
Parsippany
Princeton
Red Bank
Rutherford
Woodbridge
NEW MEXICO
Albuquerque
Las Cruces
NEW YORK
Albany
Brooklyn
Buffalo
Hauppauge
New York – Midtown
New York – Wall Street
Queens
Rochester
Syracuse
Union Square
Uniondale
White Plains
NORTH CAROLINA
Chapel Hill
Charlotte
Charlotte – South
Greensboro
Raleigh
OHIO
Akron
Beachwood
Blue Ash
Canton
Cincinnati
Cleveland
Columbus
Dayton
Dublin
Easton
North Olmsted
Toledo
West Chester
Youngstown
OKLAHOMA
Oklahoma City
Tulsa
OREGON
Beaverton
Eugene
Portland
PENNSYLVANIA
Harrisburg
Hermitage
King of Prussia
Lehigh Valley
Moon
Philadelphia
Pittsburgh
Reading
Trevose
Wexford
RHODE ISLAND
Providence
SOUTH CAROLINA
Charleston
Columbia
Greenville
Spartanburg
TENNESSEE
Chattanooga
Knoxville
Memphis – Downtown
Memphis – East
Nashville – Cool Springs
Nashville – Downtown
TEXAS
Arlington
Austin
Dallas – Downtown
Dallas – Galleria
El Paso
Fort Worth
Houston – Clear Lake
Houston – Downtown
Houston – Galleria
Houston – Northwest
Houston – Westchase
Houston – The Woodlands
Irving
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Plano
San Antonio – Alamo
Heights
San Antonio – Colonnade
UTAH
Draper
Salt Lake City
VIRGINIA
Alexandria
Dulles
Norfolk
Richmond – Downtown
Richmond – West
Tysons Corner
WASHINGTON
Bellevue
Federal Way
Lynnwood
Seattle
Spokane
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Appleton
Madison
Milwaukee
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INTERNATIONAL OFFICES
AUSTRALIA
Brisbane
Melbourne
Mount Waverley
North Shore
Parramatta
Perth
Sydney
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Vienna
BELGIUM
Antwerp
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Charleroi
Ghent
Groot-Bijgaarden
Hasselt
Herentals
Liège
Roeselare
Wavre
Zaventem
BRAZIL
Belo Horizonte
Campinas
Rio de Janeiro
São Paulo
CHILE
Santiago
China
Hong Kong (SAR)
Shanghai
CZECH REPUBLIC
Prague
FRANCE
Aix-en-Provence
Lille
Lyon
Massy
Nantes
Paris
Paris – La Défense
Saint Denis
Versailles
GERMANY
Berlin
Cologne
Düsseldorf
Essen
Frankfurt
Freiburg
Hamburg
Mannheim
20 2013 Salary Guide • Robert Half
Munich
Stuttgart
Wiesbaden
UNITED ARAB Emirates
Abu Dhabi
Dubai
ITALY
Genoa
Milan
Rome
Turin
UNITED KINGDOM
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JAPAN
Osaka
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LUXEMBOURG
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NEW ZEALAND
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Canadian head Office
Robert Half Canada Inc.
181 Bay Street, Suite 820, P.O. Box 824, Toronto, ON M5J 2T3
416.365.9140 • rhi.com
SWITZERLAND
Zurich
Robert Half • 2013 Salary Guide 21
accountemps.com
1.800.803.8367
roberthalf.com
1.800.474.4253
roberthalfmr.com
1.888.400.7474
181 Bay Street, Suite 820
P.O. Box 824
Toronto, ON M5J 2T3
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