ARG Salary Guide & Employment Outlook 2013

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ARG Salary Guide & Employment Outlook 2013

  1. 1. 2013Financial Salary Guide& Employment Outlook
  2. 2. 2012: A Year in Review . . . . . . . . . . . . . . . . . . . 12013: Employment Outlook . . . . . . . . . . . . . . . 2Employment Trends . . . . . . . . . . . . . . . . . . . . . . 3Finance & Accounting Salaries . . . . . . . . . . . . . . 4Public Accounting Salaries . . . . . . . . . . . . . . . . . 6Accounting Operations Salaries . . . . . . . . . . . . . 6Tax, Treasury & Internal Audit Salaries . . . . . . . . 7TableOfContents
  3. 3. 1The economy in Southern California continued to improve in thefirst half of 2012, strengthening business confidence and givingrise to hopes that hiring activity would continue to increase at asustainable pace. The renewed economic recovery was fueled inpart by improvement in the manufacturing sector, increases innet exports to US trading partners, a rebound within the tourismindustry, and favorable conditions within capital markets. Wealso experienced significant increases in M&A and IPO activity,with large transactions commanding national attention. Thesefactors, along with improved business conditions, inspired manyemployers to continue adding to their payrolls and to post themost job openings since 1998. The residential construction sector,which was severely impacted by the recession, also started to showstrength. Compared to previous post-recession recoveries, whenreal estate was the driving force, this recovery was driven in partby the technology and professional services sectors — which waswelcomed news.However, by mid-year, economic growth started to decelerate dueto volatility at the macro level. Momentum that was building atthe outset of the year started to fade amid concerns surroundingEurope’s debt woes, higher energy prices, the presidential election,and fiscal policy. These negative forces began to weaken theeconomic recovery, prompting many businesses to delay certaininvestment and hiring decisions.2012 | A Year in Review
  4. 4. Economic growth in Southern California is expected to remain slowthrough the first half of 2013 before gaining momentum again inthe second half. Although most businesses expect positive revenuegrowth over the next twelve months, confidence could continue todecline amid concerns surrounding domestic and global issues. Thiscould cause some businesses to become more cautious, especiallyas it relates to investment decisions and hiring activity. However, thiscautious approach should not be widespread, absent any negativeimpacts from the Eurozone and U.S. governmental reforms.According to economists from local universities and researchorganizations, most local industry sectors will post positive jobgains in 2013 (the exception being in government and aerospace).Industry sectors leading the Southern California Region in jobgrowth will continue to be tourism, high technology, healthcare, international trade and life sciences (e.g. medical devices,pharmaceuticals, etc.). The residential construction sector, whichexperienced a transitional year in 2012, is expected to post job gainsin 2013. Growth in this particular area, however, will depend on lessstringent mortgage lending standards and continued improvementon the labor front. The coastal areas, known for their economicdiversity, will continue leading the state in job growth. OrangeCounty, which entered the recession early in 2008, will continue tolead Southern California in job growth, with the unemployment rateaveraging 7.6 percent in 2013. The local economy which performedrelatively well in 2012, will provide the Southern California Region afirm base for continued expansion in 2013.2013 | Employment Outlook2
  5. 5. In 2013, we will continue to experience heightened transparencyand compliance pressures, especially if the US establishes acommitment to switching from U.S. GAAP to IFRS. The newly-formed Private Company Council (PCC) which is tasked withimproving the accounting standard-setting process for privatecompanies, will start to require public accounting firms to reviewprivate-company clients’ financial reports with more scrutiny.Consequently, the skills required from finance professionals andexecutives will continue to expand including technical abilitiesin accounting and auditing. Additionally, finance professionals,pressured to provide value-added analysis, will continue leveragingfinancial systems to effectively aggregate and assimilate data.As the economy continues to heal from the Great Recession,companies will continue to shift their focus from reducing workforcelevels to attracting and retaining top-level talent. This will presentchallenges to employers due to a growing shortage of qualifiedcandidates. Conversely, this renewed focus on identifying anddeveloping finance talent will provide individuals who possessstrong leadership skills, industry knowledge, and business processexpertise a distinct competitive advantage. These factors, especiallywhen combined with a more-positive economic forecast for 2013,will influence salary increases, short-term bonus payments, stock-based incentive compensation, and the development of rigorousperformance metrics.Employment trends3
  6. 6. CHIEF FINANCIAL OFFICERREVENUE IN MILLIONS 2013 AVERAGE BONUS % PAID IN 2012500+ $350,000 $570,000 60%100-500 $275,000 $450,000 50%50-100 $200,000 $325,000 40%0-50 $175,000 $250,000 35%CORPORATE FINANCEEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012SVP/VP OF Finance $190,000 $320,000 35%Sr. Director/Director $135,000 $220,000 30%Manager $100,000 $135,000 9%Senior $75,000 $105,000 7%1-3 Years $55,000 $80,000 4%To 1 Year $45,000 $60,000 3%Finance Associate (M&A) $60,000 $75,000 30%Finance Associate II (M&A) $110,000 $125,000 140%Finance Associate III (M&A) $115,000 $145,000 195%CAO/CONTROLLERREVENUE IN MILLIONS 2013 AVERAGE BONUS % PAID IN 2012500+ $220,000 $320,000 27%100-500 $160,000 $270,000 25%50-100 $140,000 $200,000 20%0-50 $115,000 $160,000 15%DIRECTOR OF ACCOUNTING/ASSISTANT CONTROLLERREVENUE IN MILLIONS 2013 AVERAGE BONUS % PAID IN 2012500+ $150,000 $190,000 15%100-500 $125,000 $175,000 15%50-100 $105,000 $135,000 10%0-50 $95,000 $120,000 10%Finance & Accounting Salaries*the salaries do not include bonuses, car allowance, stock options, or any other “non-base” compensation*actual average bonus percentage paid, not target bonus4
  7. 7. FINANCIAL/SEC REPORTINGEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012Director $135,000 $185,000 15%Manager $95,000 $135,000 10%Senior $75,000 $100,000 6%REVENUE ACCOUNTINGEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012Director $120,000 $160,000 15%Manager $90,000 $125,000 15%ACCOUNTING MANAGER/ACCOUNTING SUPERVISORREVENUE IN MILLIONS 2013 AVERAGE BONUS % PAID IN 2012500+ $100,000 $135,000 7%100-500 $90,000 $125,000 7%50-100 $80,000 $105,000 5%0-50 $70,000 $95,000 5%SENIOR/STAFF ACCOUNTANTEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012Senior $70,000 $95,000 4%1-3 Years $50,000 $80,000 3%To 1 Year $45,000 $55,000 2%COST ACCOUNTINGEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012Director/Senior Manager $110,000 $155,000 7%Manager $90,000 $120,000 6%Senior $75,000 $100,000 5%1-3 Years $55,000 $80,000 3%To 1 Year $45,000 $60,000 2%Finance & Accounting Salaries5
  8. 8. PUBLIC ACCOUNTING/AUDITEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012Senior Manager $100,000 $175,000 7%Manager $75,000 $110,000 7%Senior $60,000 $80,000 7%1-3 Years $55,000 $62,000 5%To 1 Year $50,000 $55,000 3%PUBLIC ACCOUNTING/TAXEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012Senior Manager $115,000 $190,000 7%Manager $80,000 $130,000 7%Senior $65,000 $85,000 7%1-3 Years $55,000 $75,000 5%To 1 Year $50,000 $60,000 3%ACCOUNTS PAYABLE/ACCOUNTS RECEIVABLEEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012Director/Manager $80,000 $115,000 5%Supervisor $55,000 $80,000 3%Clerk $35,000 $55,000 2%PAYROLLEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012Director/Manager $75,000 $115,000 6%Supervisor $50,000 $90,000 4%Clerk $35,000 $55,000 2%CREDIT ANALYSIS/COLLECTIONSEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012Director/Manager $75,000 $130,000 9%Supervisor $55,000 $90,000 4%Credit Analyst $45,000 $90,000 4%Clerk $35,000 $55,000 1%Public Accounting SalariesAccounting Operations Salaries*the salaries do not include bonuses, car allowance, stock options, or any other “non-base” compensation*actual average bonus percentage paid, not target bonus6
  9. 9. TAXEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012VP of Tax $180,000 $320,000 40%Director $135,000 $215,000 25%Manager $100,000 $140,000 10%Supervisor $75,000 $115,000 6%1-3 Years $55,000 $85,000 5%To 1 Year $45,000 $60,000 3%TREASURYEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012Treasurer $180,000 $300,000 30%Assistant Treasurer/Director $135,000 $190,000 20%Cash/Treasury Manager $95,000 $140,000 9%Senior Treasury Analyst $75,000 $110,000 5%1-3 Years $60,000 $80,000 3%To 1 Year $45,000 $60,000 2%INTERNAL AUDITEXPERIENCE/TITLE 2013 AVERAGE BONUS % PAID IN 2012VP of Audit $170,000 $260,000 25%Director $125,000 $195,000 10%Manager $100,000 $145,000 10%Senior $75,000 $110,000 5%Staff $50,000 $80,000 2%Tax, Treasury, & Internal Audit Salaries7How the data was collectedInformation in this 2013 Salary Guide was gathered from a variety of reliable sources includingthe U.S. Bureau of Labor Statistics, Los Angeles Economic Development Corporation (LAEDC),staffing industry analysts, local universities, online resources, and various studies published by largeconsulting firms. We also factored in compensation statistics from the last twelve months of executivesearch and placement activity, along with interviews with key financial/employment personnel. Thecontent represents Alliance Resource Group’s interpretation and analysis of information generallyavailable to the public and/or obtained from sources believed to be reliable. No representationor warranty (express or implied) is given as to the accuracy and completeness of the informationcontained in this publication.
  10. 10. notes8
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