Accounting Today reports that salaries for accountants and finance professionals will likely go up 2.8 percent in 2017. The new stat comes from what Accounting Today has dubbed a “soon-to-be-released” salary guide from Accounting Principals.
Founded in 2010, Accounting Principals is staffing firm that specializes in finance and accounting positions. While Accounting Principals is part of staffing service Adecco Group, the company says it takes “quite a different approach than most staffing agencies.” The difference: Going beyond the typical resume-matching service and actually forming relationships, one on one, with clients and candidates. That the upcoming salary guide is coming from this particular entity could be a reliable resource, especially since the projected salary boost seems modest. Plus, based on the Accounting Principals mission, the organization seems committed to want to serving the goals and objectives of the talent with whom they work (or with whom they hope to work).
Accounting Principals Vice President Jeramy Kaiman told Accounting Today that he explains the expected salary increase based on the increased demand for finance professionals.
“We’re in the largest period of private sector job growth in U.S. history. That record was set about two years ago, and we’re well past that point. The BLS data shows June and July were the two strongest consecutive job growth months in the last 12, so we’re seeing that the economy is continuing to be strong. The unemployment rate within accounting and finance is incredibly low. When we see that the supply of accounting and finance talent is as low as it is, we see the demand continuing to rise.”
According to Payscale.com, the average salary for an accountant is $47,936 per year, and for the first five to ten years in this position, pay increases somewhat, but any additional experience does not have a big effect on pay. However, Glassdoor.com puts the national average bit a higher at $50,000.