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Use our Salary Guide to learn about compensation trends, positions in demand, and insights on recruiting and retention.
3 Welcome to the 2018 Robert Half Salary Guide
4 Hiring Trends in Accounting and Finance
8 Where the Jobs Are
10 Accounting and Finance Hiring Trends — by Region
13 How to Use Our Salary Tables
14 Accounting and Finance Salaries
21 Local Market Variances
22 Building an Engaged, Productive Team
24 Pay to Perks: Trends in Compensation Packages
27 About Robert Half
28 Worldwide Locations
Table of Contents
About the Data in the 2018 Salary GuideRobert Half has made it our mission for nearly 70 years to provide salary data to help companies benchmark their compensation levels with what other firms are offering. Those of you who are familiar with our guides will find even more comprehensive data this year than ever before.
WHY THE CHANGE? Our clients have expressed interest in more detailed information on salaries. To help with this, we’ve presented salaries in percentiles versus the low and high ranges we have previously used. The information is based on our current salary data and analysis of the thousands of job placements we make every year.
WHAT HASN’T CHANGED As always, we are committed to providing you with the most accurate information on hiring and compensation trends. The 2018 Robert Half Salary Guide for Accounting and Finance Professionals includes the following:
• Average starting salaries for 150 positions based on our job placements from the past year
• Regional variances that can help you adjust salaries to your local market
• New data on benefits, incentives and perks
For more information and access to our Salary Calculator, please visit our Salary Centre at roberthalf.ca/salary-guide/finance.
2 2018 SALARY GUIDE | ROBERT HALF 3
The guide is your tool for successfully negotiating salaries with the professionals you want to recruit and, ultimately, retain.
A key part of attracting the best people is paying them well — at least as much as your competitors are offering or more.
The 2018 Robert Half Salary Guide for Accounting and Finance Professionals contains compensation figures based on placements made by our Canadian recruiting and staffing professionals. We present this data, along with our staffing managers’ knowledge of market conditions and hiring trends, to show where we believe compensation is headed and help you budget accordingly. The guide is also your tool for successfully negotiating salaries with the professionals you want to recruit and, ultimately, retain.
The salary tables are the core of the guide. This year, we’ve made changes to how we present the salary data, as described on Page 13. Elsewhere in the guide, you’ll also find an analysis of hiring trends in the accounting and finance fields.
We hope the Salary Guide helps you build a more engaged and productive team, and we invite you to visit us at roberthalf.ca for assistance with your staffing needs.
Welcome to the 2018 Robert Half Salary Guide
Compensation ranges are based on placements made by our recruiting and staffing professionals across Canada.
2018 SALARY GUIDE | ROBERT HALF 54
Source: Robert Half survey of more than 270 CFOs in Canada
RETENTION WORRIES
CFOs surveyed weighed in on how concerned they are about losing their staff members. Among the findings:
28% think they could lose staff within the next year.
32% are somewhat or very concerned about retaining their current staff.
Companies frequently offer salaries above market rates even before negotiations with candidates begin.
Hiring Trends in Accounting and Finance
A good accountant is hard to find — now more than ever. Competition to recruit and retain top performers in the finance and accounting fields has long been fierce, but a tightening pool of skilled candidates could make it even more so.
Managers are offering top job candidates and employees higher salaries and, when they can, more scheduling flexibility to help professionals achieve better work-life balance. Employers, in turn, are often rewarded with lower turnover.
On the skills front, businesses are placing more emphasis on data analytics experience as they evaluate financial job candidates. More and more, firms seek technological abilities to complement traditional accounting and finance skills.
SWEETENING SALARIESSimilar to past years, firms across industries are bumping up compensation. In fact, companies frequently offer salaries above market rates even before negotiations with candidates begin. Employers often extend signing bonuses, as well.
MAKING RETENTION A TOP PRIORITYBecause it’s getting harder — and more expensive — to replace staff who leave for new jobs, firms are putting extra emphasis on retention. Managers know that top professionals are likely to look for new opportunities if they can’t envision their next steps at the company. In response, companies are mapping clear career paths and offering mentoring programs. Organizations also are enhancing their corporate cultures.
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FOCUSING ON FITTo reduce the risk of making a bad hire, more businesses are performing pre-employment personality assessments to gauge how well-suited candidates are to the firm’s workplace environment. While these evaluations are not new, more companies are taking advantage of them. A word of warning, though: Firms need to make sure any kind of personality indicator is both legal and appropriate for hiring.
ADJUSTING HIRING EXPECTATIONSGiven the limited number of skilled candidates, companies have become increasingly flexible with their hiring requirements. Focusing on hiring for certain skills and being willing to train for others, for instance, allows businesses to be more nimble, giving them an edge over firms that remain rigid in their approach.
ENHANCING PERKSThe popularity of flexible scheduling and telecommuting is growing, but businesses are realizing they need to provide even more in the way of perks. Free snacks, lunches and subsidized gym memberships, for example, have been offered for years at tech companies and are now becoming common elsewhere. In addition, casual dress codes are increasingly prevalent, if appropriate for the business.
INVESTING IN EMPLOYEE DEVELOPMENTProfessional development is taking on greater importance, and more employees expect training that supports their personal career growth. In fact, many professionals won’t stay at a company that doesn’t provide continuing education opportunities. For financial teams, companies most commonly offer training in regulatory compliance, Robert Half research found.
RECOGNIZING RISKS OF DELAYED HIRING Many companies are taking longer to make hiring decisions, but doing so puts them at risk of losing top candidates. Seventy-one per cent of workers in a Robert Half survey said they’d lose interest in a job if they had not heard from the employer within two weeks of the interview. More businesses need to realize that, while a thorough vetting of candidates is critical, stretching out the process longer than necessary can be a morale buster for prospective hires and puts the firm in a negative light.
GROWING THEIR DIGITAL FOOTPRINTFirms are stepping up their online presence and branding to appeal to job seekers. This includes sharing more information online about employee perks and benefits, as well as other attractive elements of the work environment.
HIRING PROJECT PROFESSIONALSCompanies are bringing in interim and project professionals for cyclical needs and initiatives requiring specialized expertise. Businesses are working with staffing firms to locate hard-to-find professionals. This often includes workers amenable to interim-to-hire arrangements, which allow managers to assess the on-the-job performance of potential new hires before extending a full-time offer.
THE RESULTS OF A BAD HIRE
Percentage of business owners surveyed who experienced the following outcomes due to a bad hire:
61%Wasted time hiring and training someone
56%Increased stress on the team
30%Increased stress on the manager
19%Decreased confidence in management’s ability to make good hiring decisions
Source: Robert Half survey of more than 400 business owners and human resources managers in Canada at companies with one to 499 employees
said they’d lose interest in a job if they had not heard from the employer within two weeks of the interview.
71% of workers
Source: Survey of more than 400 adults currently employed in professional environments in Canada
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Where the Jobs Are Hiring at a Glance
IN-DEMAND SKILLS
• Advanced Excel expertise• General knowledge of enterprise
resource planning (ERP) systems, especially SAP, Oracle and Microsoft Dynamics GP
• Knowledge of cloud-based systems, like NetSuite and Workday
• Experience with data analytics and database management software, especially SQL
• Proficiency in Hyperion, for financial analyst positions
• QuickBooks expertise, in small and midsize businesses
• Strong communication skills • Industry-specific experience • Leadership abilities • Adaptability and flexibility• Ability to collaborate with multiple
departments • Multilingualism
IN-DEMAND CREDENTIALS
• CAMS (Certified Anti-Money Laundering Specialist)
• CCP (Certified Credit Professional)• CFA (Chartered Financial Analyst)• CGMA (Chartered Global
Management Accountant)• CIA (Certified Internal Auditor)• CISA (Certified Information Systems
Auditor) • CPA (Chartered Professional
Accountant)• CPA, CA (Chartered Professional
Accountant, Chartered Accountant)• CPA, CMA (Chartered Professional
Accountant, Certified Management Accountant)
• CPA, CGA (Chartered Professional Accountant, Certified General Accountant)
• CPM (Certified Payroll Manager)• CPP (Certified Payroll Professional)• PCP (Payroll Compliance Practitioner)
HOT POSITIONS
• Accounting manager• Controller• Financial analyst
• Internal auditor• Payroll manager
• Senior accountant• Staff accountant
Companies are hiring accountants at all levels. They’re also looking for financial analysts, payroll staff, controllers, internal and information technology (IT) auditors, and risk and compliance professionals. Hiring is especially strong in the healthcare, real estate, nonprofit, construction and technology sectors.
Due to new revenue recognition and lease accounting standards, professionals with experience in revenue accounting and revenue reporting are in particularly high demand. In addition, firms seek business systems analysts who can assist in installing updates and performing conversions for accounting software systems.
PUBLIC ACCOUNTING There’s high demand for top talent in public accounting due to a severe shortage of skilled candidates. In response, firms are taking advantage of every available recruiting strategy — from employee referrals to wooing back former staff.
Public accounting firms are pursuing recent college graduates with accounting degrees, and frequently offering higher pay than their corporate counterparts, as well as bonuses, perks and additional vacation time. To attract and retain in-demand accountants,
many firms are prioritizing work-life balance policies, such as compressed workweeks, telecommuting and flexible work schedules.
FINANCIAL SERVICES Demand in the financial services sector looks to remain strong. Many institutions are strengthening their teams and seek general accountants, financial analysts, controllers, and internal and IT auditors. Commercial banking, lending companies, and hedge fund and asset management firms are showing particularly strong demand for professionals, especially those with expertise in data analytics, credit analytics, and risk and compliance.
As the use of big data grows, top candidates for financial services jobs must possess not only traditional finance knowledge, but also technology skills. Firms favour professionals with advanced Excel and Access abilities and experience with SAS and Python. Institutions also look for compliance professionals possessing designations such as the CRCM (certified regulatory compliance manager) and FRM (financial risk manager).
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with a CPA designation and advanced Excel and ERP skills. Companies in the tech, construction, financial services, property management, healthcare and real estate industries are seeking financial analysts, controllers, senior accountants, and accounts payable and payroll professionals. Firms are struggling to hang on to top talent, and to improve retention, businesses are offering higher salaries, better work-life balance policies (including telecommuting and flexible scheduling), bonuses and innovative perks.
MANITOBADue to restructuring and merger-and-acquisition activity, some Manitoba-area companies have had to downsize and lay off staff, and they are selective when hiring. However, the market remains strong for junior- and intermediate-level accountants and financial analysts in the manufacturing, transportation, and retail and distribution industries. Accounts payable/accounts receivable, audit, tax and payroll professionals are also in demand, particularly those with advanced Excel and ERP skills, a strong work ethic, and industry experience.
ONTARIOGrowth, expansion, and changes in the regulatory and reporting environment are fuelling accounting and finance hiring in the Ontario area. Companies are showing strong demand for a wide range of professionals, from payroll and credit accountants to senior financial analysts and controllers, as well as financial reporting specialists who can
assist with International Financial Reporting Standards 15 and 16 compliance. Firms in the real estate, property management, financial services, manufacturing, construction, healthcare, logistics and distribution industries are looking for candidates who are good communicators, bilingual, and skilled in Excel and ERP. Top performers are getting higher salaries, bonuses and additional time off, as companies work to retain their best employees.
QUEBECThe job market in Quebec continues to improve, and signs indicate that it will pick up even more in 2018. Firms are raising salaries and offering benefits like flexible scheduling to keep top talent on board and to attract the best potential new hires. Junior- to intermediate-level accounting and finance professionals are in particular demand, especially financial analysts, controllers, bookkeepers, internal auditors, and payroll administrators and managers. Firms in real estate, manufacturing, finance, insurance, IT and aerospace are driving hiring, and they’re looking for bilingual professionals with advanced Excel skills, ERP experience, industry experience, strong communication skills and a good work ethic.
Accounting and Finance Hiring Trends — by Region
ALBERTAFollowing a couple of rocky years, the Alberta region finally started to see some growth in early 2017, when oil and gas prices began to stabilize. As a result, hiring for accounting and finance roles is picking up in the oil and gas, property management, construction, and logistics industries, as well as in the public sector. Organizations are looking for controllers, payroll professionals, and candidates with experience in technical accounting, auditing, and credit and collections. Unemployment remains lower than average for finance and accounting professionals, which means that the pool of skilled, available candidates is small, and it’s likely to get even more limited as the economy improves. To attract top talent, firms are slowly bringing back performance bonuses, instituting flextime policies and increasing salaries.
BRITISH COLUMBIA The financial hiring environment is very active in the B.C. area, which is enjoying some of the lowest unemployment it’s seen in years. The upshot is a candidate-driven market, where multiple offers are common for tech-savvy job seekers
To attract and retain top talent, many firms in Canada are offering higher salaries, bonuses and better work-life balance opportunities.
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How to Use Our Salary Tables
PERCENTILE 25TH 50TH (MIDPOINT) 75TH 95TH
Candidate Experience Level
Less experience than typical
Average experience
More experience than typical
Significant, highly relevant experience
Candidate Skills/ Expertise
Skills require development
Necessary skills to meet job requirements
Strong skill set; may include specialized designations
High level of expertise, including specialized designations
Job Complexity/Duties
Role may be in an industry with low competition for talent or in a smaller, less complex organization or department
Role may be of average complexity or in an industry where competition for talent is moderate
Role may be fairly complex or in a fairly competitive industry for talent
Role may be highly complex and more strategic in nature than usual; may be in a highly competitive industry for talent
To help hiring managers determine salary levels for new hires, we’ve provided starting compensation ranges by percentile, as defined in the chart below.
When a manager is establishing a starting salary, multiple factors come into play. A firm’s compensation philosophy, the range of other benefits and incentives offered, and the level of competition for individuals within a particular market all may affect starting salaries. Following are additional elements to consider and how they correlate with the high and low ends of the compensation figures provided:
The salaries listed on the following pages are based on actual placements in our offices throughout Canada, as well as an analysis of the demand for the role, the supply of talent and other market conditions. Salaries reflect starting pay only. Bonuses, incentives and other forms of compensation are not taken into account. In some situations, it’s possible that compensation would fall above or below the percentiles provided. Our recruiters can help you establish appropriate compensation levels for new hires based on your company’s goals and budget. Salaries represent national averages and can be adjusted for your market using the local variance information on Page 21.
A firm’s compensation philosophy, the range of other benefits and incentives offered, and the level of competition for individuals within a particular market all may affect starting salaries.
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Accounting and Finance SalariesCORPORATE ACCOUNTING
PERCENTILES
TITLE/EXPERIENCE 25TH 50TH 75TH 95TH
Chief Financial Officer a $ 150,000 $ 185,000 $ 220,000 $ 315,000
Treasurer a $ 135,500 $ 165,000 $ 195,000 $ 280,000
Vice President, Finance a $ 131,250 $ 150,000 $ 172,500 $ 250,000
Director of Finance a $ 113,750 $ 130,000 $ 149,500 $ 187,500
Director of Accounting $ 105,000 $ 120,000 $ 138,000 $ 173,250
Director of Financial Reporting $ 102,000 $ 118,000 $ 136,000 $ 171,000
Corporate Controller a $ 102,000 $ 127,000 $ 152,750 $ 240,000
Controller a $ 90,000 $ 115,000 $ 140,000 $ 195,000
Assistant Controller a $ 61,250 $ 72,750 $ 83,250 $ 117,250
Assistant Treasurer $ 95,250 $ 109,000 $ 125,250 $ 157,250
Tax Director a $ 118,750 $ 135,000 $ 155,000 $ 200,000
Tax Manager b $ 100,500 $ 115,000 $ 132,250 $ 165,750
COMPLIANCE
Chief Compliance Officer $ 120,250 $ 145,000 $ 160,500 $ 201,250
Compliance Director $ 96,250 $ 112,250 $ 126,500 $ 157,750
Compliance Officer $ 83,250 $ 95,000 $ 121,500 $ 140,000
Senior Compliance Analyst $ 71,000 $ 87,500 $ 105,500 $ 125,000
Compliance Analyst $ 65,250 $ 74,500 $ 85,750 $ 107,500
INTERNAL AUDITOR Chief Audit Executive/Vice President, Internal Audit/Internal Audit Director $ 119,250 $ 150,000 $ 188,500 $ 244,000
Manager $ 86,500 $ 104,000 $ 117,500 $ 135,500
Senior $ 78,500 $ 90,500 $ 108,500 $ 115,500
1 to 3 Years $ 61,250 $ 70,000 $ 80,500 $ 101,250
Up to 1 Year $ 52,500 $ 60,000 $ 67,500 $ 79,250
MIDPOINTTITLE/EXPERIENCE 25TH 50TH 75TH 95TH
IT AUDITOR
Manager $ 95,000 $ 115,000 $ 123,500 $ 155,000
Senior $ 81,000 $ 90,000 $ 103,750 $ 129,250
1 to 3 Years $ 68,750 $ 78,000 $ 90,250 $ 113,250
Up to 1 Year $ 41,750 $ 50,000 $ 60,250 $ 79,500
FINANCIAL REPORTING
Manager $ 85,500 $ 100,000 $ 109,500 $ 144,500
Senior $ 65,750 $ 75,000 $ 86,250 $ 108,750
1 to 3 Years $ 55,000 $ 63,750 $ 73,250 $ 92,000
Up to 1 Year $ 48,000 $ 55,000 $ 63,000 $ 79,000
GENERAL ACCOUNTANT
Manager $ 68,500 $ 80,000 $ 93,500 $ 115,000
Senior $ 57,500 $ 66,500 $ 77,000 $ 91,000
1 to 3 Years $ 41,500 $ 48,500 $ 54,000 $ 68,000
Up to 1 Year $ 33,250 $ 40,000 $ 45,000 $ 54,000
COST ACCOUNTANT
Manager $ 72,500 $ 83,000 $ 96,500 $ 118,750
Senior $ 61,500 $ 70,000 $ 80,000 $ 94,500
1 to 3 Years $ 44,000 $ 52,500 $ 61,500 $ 72,500
Up to 1 Year $ 36,750 $ 42,250 $ 47,750 $ 57,000
CORPORATE ACCOUNTINGPERCENTILES
MIDPOINT
All salaries listed on Pages 14-20 are in Canadian dollars.
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TITLE/EXPERIENCE 25TH 50TH 75TH 95TH
TAX ACCOUNTANT
Manager $ 100,000 $ 115,750 $ 141,500 $ 168,500
Senior $ 75,000 $ 87,000 $ 96,250 $ 125,000
1 to 3 Years $ 39,750 $ 47,500 $ 57,500 $ 75,000
Up to 1 Year $ 36,250 $ 41,750 $ 51,000 $ 64,250
FINANCIAL ANALYST
Manager $ 76,500 $ 96,250 $ 117,000 $ 131,000
Senior $ 69,750 $ 80,000 $ 91,500 $ 107,000
1 to 3 Years $ 47,000 $ 59,750 $ 75,000 $ 89,750
Up to 1 Year $ 38,500 $ 44,000 $ 50,750 $ 63,500
BUDGET ANALYST
Manager $ 102,500 $ 112,250 $ 136,250 $ 150,500
Senior $ 85,250 $ 97,500 $ 123,500 $ 141,500
1 to 3 Years $ 50,500 $ 65,000 $ 81,250 $ 100,000
Up to 1 Year $ 40,750 $ 46,750 $ 53,750 $ 67,500
TREASURY ANALYST
Manager $ 90,000 $ 110,000 $ 117,250 $ 147,000
Senior $ 68,750 $ 85,000 $ 96,250 $ 107,000
1 to 3 Years $ 54,250 $ 65,750 $ 71,250 $ 89,500
Up to 1 Year $ 39,750 $ 45,000 $ 51,750 $ 65,000
BUSINESS ANALYST
Manager $ 98,000 $ 112,000 $ 128,750 $ 157,500
Senior $ 77,750 $ 89,000 $ 102,250 $ 128,500
1 to 3 Years $ 60,000 $ 70,000 $ 83,750 $ 108,750
Up to 1 Year $ 51,500 $ 59,500 $ 72,500 $ 85,000
DATA ANALYST
Manager $ 81,750 $ 100,000 $ 112,750 $ 135,750
Senior $ 68,750 $ 82,500 $ 93,500 $ 113,500
1 to 3 Years $ 48,250 $ 57,500 $ 67,500 $ 80,000
Up to 1 Year $ 38,000 $ 45,750 $ 54,000 $ 61,500
CORPORATE ACCOUNTINGPERCENTILES
MIDPOINTTITLE/EXPERIENCE 25TH 50TH 75TH 95TH
BUSINESS INTELLIGENCE ANALYST
Manager $ 95,750 $ 110,500 $ 135,750 $ 162,250
Senior $ 81,750 $ 93,500 $ 107,250 $ 136,500
1 to 3 Years $ 67,250 $ 77,500 $ 89,500 $ 111,500
Up to 1 Year $ 55,000 $ 62,500 $ 70,750 $ 82,500
BUSINESS SYSTEMS ANALYST
Manager $ 93,500 $ 107,500 $ 134,750 $ 161,250
Senior $ 80,500 $ 92,000 $ 105,750 $ 132,750
1 to 3 Years $ 66,500 $ 76,000 $ 87,750 $ 109,750
Up to 1 Year $ 54,250 $ 62,000 $ 71,250 $ 89,500
FINANCIAL PROJECT MANAGER
Financial Project Manager $ 95,500 $ 105,750 $ 117,500 $ 148,500
FINANCIAL SYSTEMS
Director $ 119,000 $ 144,250 $ 167,750 $ 200,000
Manager $ 101,500 $ 116,000 $ 133,250 $ 167,250
Project Manager $ 79,500 $ 87,500 $ 97,750 $ 122,500
Administrator $ 65,000 $ 77,500 $ 88,500 $ 97,500
PROPERTY ACCOUNTANT
Property Accountant $ 47,000 $ 55,750 $ 64,500 $ 72,250
OPERATIONAL SUPPORT: CREDIT AND COLLECTIONS
Credit Manager/Supervisor $ 65,500 $ 75,000 $ 86,250 $ 108,250
Assistant Credit Manager $ 46,750 $ 58,500 $ 67,750 $ 87,500
Credit/Collections Analyst $ 39,500 $ 45,000 $ 51,750 $ 65,000
Credit/Collections Clerk $ 36,750 $ 42,000 $ 48,250 $ 60,500
OPERATIONAL SUPPORT: BOOKKEEPERS
Full Charge Bookkeeper $ 41,500 $ 47,750 $ 54,000 $ 68,500
Bookkeeper $ 37,500 $ 42,500 $ 49,500 $ 58,250
Accounting Clerk $ 31,250 $ 37,500 $ 42,500 $ 48,750
PERCENTILES
CORPORATE ACCOUNTING
MIDPOINT
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TITLE 25TH 50TH 75TH 95TH
OPERATIONAL SUPPORT: PAYROLL AND OTHER
AR/APc Manager $ 48,000 $ 65,000 $ 75,500 $ 87,250
AR/APc Clerk $ 34,500 $ 37,500 $ 43,500 $ 52,000
Billing Clerk $ 31,500 $ 36,250 $ 41,000 $ 49,000
Payroll Manager/Supervisor $ 62,500 $ 72,750 $ 83,000 $ 117,500
Payroll Coordinator/Administrator $ 44,750 $ 51,750 $ 62,000 $ 72,500
Purchasing Manager $ 42,250 $ 54,250 $ 69,250 $ 97,500
Inventory Analyst $ 35,250 $ 47,500 $ 58,000 $ 74,500
Inventory Clerk $ 28,750 $ 34,250 $ 45,500 $ 54,000
PERCENTILES
CORPORATE ACCOUNTING FINANCIAL SERVICES
TITLE/EXPERIENCE 25TH 50TH 75TH 95TH
BANKING AND FINANCIAL MARKETS
Managing Director/Partner $ 140,000 $ 160,000 $ 184,000 $ 230,750
Vice President $ 116,250 $ 133,000 $ 153,000 $ 191,750
Associate $ 76,500 $ 87,500 $ 100,500 $ 126,250
Analyst $ 75,000 $ 85,000 $ 97,750 $ 125,500
Business Development Officer $ 96,250 $ 110,000 $ 126,500 $ 158,750
Portfolio Manager $ 145,750 $ 156,500 $ 167,500 $ 175,250
Commercial Lender $ 66,500 $ 78,500 $ 87,500 $ 109,500
Private Banker $ 67,250 $ 75,000 $ 88,500 $ 111,250
Credit Analyst 5+ Years $ 64,750 $ 74,250 $ 101,250 $ 113,500
Credit Analyst 3 to 5 Years $ 52,750 $ 63,500 $ 87,500 $ 100,500
Credit Analyst 1 to 3 Years $ 42,000 $ 51,250 $ 61,750 $ 81,000
Internal Wholesaler $ 76,500 $ 87,500 $ 100,500 $ 126,250
FINANCE AND ACCOUNTING
Controller $ 95,750 $ 120,000 $ 145,750 $ 200,000
Accountant 5+ Years $ 77,000 $ 98,750 $ 115,750 $ 125,750
Accountant 3 to 5 Years $ 67,750 $ 74,500 $ 83,500 $ 97,500
Accountant 1 to 3 Years $ 50,000 $ 57,000 $ 65,500 $ 82,250
Product Controller $ 65,000 $ 77,750 $ 85,750 $ 107,500
Financial Planning & Analysis – Manager $ 96,000 $ 112,750 $ 135,750 $ 153,000
Hedge Fund Accountant $ 54,250 $ 65,000 $ 71,250 $ 95,000
Mutual Fund Accountant $ 39,750 $ 45,000 $ 51,750 $ 65,000
Internal Auditor – Manager $ 87,500 $ 115,000 $ 126,250 $ 167,000
Internal Auditor 3 to 5 Years $ 67,000 $ 85,000 $ 96,500 $ 127,750
Internal Auditor 1 to 3 Years $ 56,750 $ 68,000 $ 81,750 $ 108,250
Regulatory Reporting – Manager $ 80,000 $ 95,000 $ 105,750 $ 135,000
Financial Analyst $ 70,000 $ 85,000 $ 95,000 $ 125,000
PERCENTILES
MIDPOINT
TITLE/EXPERIENCE 25TH 50TH 75TH 95TH
TAX SERVICES d
Manager a $ 91,500 $ 98,000 $ 109,000 $ 125,000
Senior $ 67,500 $ 88,000 $ 101,250 $ 117,750
1 to 3 Years $ 47,000 $ 55,000 $ 63,250 $ 78,250
Up to 1 Year $ 38,500 $ 45,000 $ 51,750 $ 65,000
AUDIT/ASSURANCE SERVICES d
Manager a $ 97,500 $ 127,500 $ 150,000 $ 166,250
Senior $ 75,000 $ 89,000 $ 123,750 $ 145,750
1 to 3 Years $ 48,250 $ 55,000 $ 64,000 $ 79,500
Up to 1 Year $ 40,500 $ 47,750 $ 54,000 $ 68,000
PERCENTILES
PUBLIC ACCOUNTING
MIDPOINT
MIDPOINT
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FINANCIAL SERVICES
TITLE/EXPERIENCE 25TH 50TH 75TH 95TH
RISK AND COMPLIANCE
Chief Risk Officer $ 175,000 $ 200,000 $ 229,500 $ 288,500
Market Risk Analyst – Manager $ 76,250 $ 87,000 $ 100,000 $ 134,000
Market Risk Analyst 3 to 5 Years $ 63,250 $ 73,000 $ 84,000 $ 105,250
Credit Risk Analyst – Manager $ 76,750 $ 87,750 $ 100,750 $ 126,500
Credit Risk Analyst 3 to 5 Years $ 61,250 $ 70,000 $ 80,500 $ 101,000
Operational Risk Analyst – Manager $ 89,250 $ 102,000 $ 117,250 $ 137,250
Operational Risk Analyst 3 to 5 Years $ 72,500 $ 80,000 $ 92,500 $ 115,000
Chief Compliance Officer $ 125,250 $ 147,750 $ 164,500 $ 206,250
Compliance Officer $ 102,250 $ 117,000 $ 134,500 $ 168,750
Compliance Manager $ 85,500 $ 96,500 $ 110,750 $ 139,250
Compliance Analyst $ 69,500 $ 85,000 $ 102,250 $ 122,000
Anti-Money Laundering Specialist $ 52,500 $ 60,000 $ 72,500 $ 85,500
Fraud Investigator $ 47,250 $ 54,000 $ 62,000 $ 77,750
OPERATIONS
Director of Operations $ 125,000 $ 132,000 $ 150,000 $ 192,000
Operations Manager $ 59,000 $ 67,500 $ 77,500 $ 97,500
Banking Operations Specialist $ 43,750 $ 50,000 $ 57,500 $ 72,250
Fund Operations Specialist 5+ Years $ 55,500 $ 67,500 $ 77,500 $ 84,750
Fund Operations Specialist 3 to 5 Years $ 40,000 $ 51,000 $ 62,000 $ 72,500
Fund Operations Specialist 1 to 3 Years $ 36,250 $ 38,000 $ 41,500 $ 47,500
Client Service Representative $ 37,000 $ 43,750 $ 50,250 $ 63,250
Sales/Trader Assistant $ 37,250 $ 45,500 $ 53,750 $ 74,250
Performance Analyst $ 56,000 $ 64,000 $ 73,500 $ 92,250
Loan Processor $ 40,250 $ 46,000 $ 52,750 $ 66,250
Loan Administrator $ 47,250 $ 54,000 $ 62,000 $ 77,750
Mortgage Processor $ 42,500 $ 43,750 $ 47,750 $ 55,000
Mortgage Underwriter $ 45,500 $ 52,000 $ 59,750 $ 75,000
PERCENTILES
a. Bonuses and incentives reflect an increasingly large part of overall pay at this level and are not included in the salary ranges listed. Advanced degrees or professional designations also are assumed at this level.
b. This title is a senior-management position. The tax manager title on Page 16 is a line-management position.
c. AR/AP = Accounts Receivable/Accounts Payable
d. Salary does not reflect overtime or bonuses.
MIDPOINTLocal Market Variances
Get local starting salary data for specific roles at roberthalf.ca/salary-guide/finance.
ALBERTA Calgary . . . . . . . . . . . . . . . +3%
Edmonton . . . . . . . . . . . .+1.8%
BRITISH COLUMBIAFraser Valley. . . . . . . . . +0.2%
Vancouver . . . . . . . . . . . +4.9%
Victoria . . . . . . . . . . . . . . .–3.2%
MANITOBAWinnipeg. . . . . . . . . . . . . . .–9%
ONTARIOKitchener/ Waterloo. . . . . . . . . . . .–3.7%
Ottawa . . . . . . . . . . . . . . +0.2%
Toronto . . . . . . . . . . . . . . +4.9%
QUEBECMontreal . . . . . . . . . . . . .+2.9%
Quebec City . . . . . . . . . .–10%
SASKATCHEWANRegina. . . . . . . . . . . . . . . . –6.1%
Saskatoon . . . . . . . . . . . .–4.5%
The starting salaries on the previous pages reflect the national averages for each position. For guidance on local compensation, increase or decrease the national salary by the percentage below for your city.
The following local market variances are general guidelines only. They are reflective of all industries and professions and may apply differently from staff- to executive-level roles. For more information on average starting salaries in your area, contact the Robert Half office nearest you.
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Here are some steps to help you increase job satisfaction among your team members:
Building an Engaged, Productive Team
To learn more about the importance of increasing happiness in your workplace, visit roberthalf.ca/its-time-we-all-work-happy.
Levels of Job Satisfaction
LOWEST ON-THE-JOB STRESS LEVELS
1 Technology
2 Finance
3 Marketing and Creative
4 Human Resources
5 Accounting
6 Manufacturing
7 Administrative
8 Education and Training
9 Financial Services
10 Hospitality and Food Services
11 Healthcare and Wellness
12 Insurance
13 Legal
LEVEL OF INTEREST IN THEIR WORK
1 Education and Training
2 Healthcare and Wellness
3 Marketing and Creative
4 Legal
5 Human Resources
6 Technology
7 Administrative
8 Manufacturing
9 Financial Services
10 Accounting
11 Finance
12 Insurance
13 Hospitality and Food Services
LEVEL OF ON-THE-JOB HAPPINESS
1 Education and Training
2 Marketing and Creative
3 Healthcare and Wellness
4 Human Resources
5 Legal
6 Technology
7 Accounting
8 Administrative
9 Insurance
10 Financial Services
11 Manufacturing
12 Finance
13 Hospitality and Food Services
In a study on workplace happiness by Robert Half and Happiness Works, professionals in 13 fields were asked to evaluate their feelings about on-the-job happiness, interest in their work and stress levels. Here are the results:
HIRE FOR FIT Employees who mesh well with the workplace culture are likely to feel a greater sense of engagement and loyalty. EMPOWER STAFFLet employees make decisions about their work on their own, or with minimal direction.
SHOW APPRECIATIONBe quick to thank staff members for a job well done. PROVIDE MEANINGFUL WORK Be sure to share how your team’s contributions support big-picture goals.
FOSTER A CULTURE OF COLLABORATION Staff cohesion fuels job satisfaction — as well as innovation.
2524
Pay to Perks: Trends in Compensation Packages
54%
Healthcare flexible
spending account
Highly skilled professionals expect not just a base salary that’s in line with what other firms are offering but also a choice of benefits, incentives and perks that are just as competitive.
The most common benefits offered**
How companies determine bonuses*Individual and company performance27%
22%
16%
8%
9%
Individual performance only
Company performance only
Other
19% Don’t offer bonuses
Individual, team and company performance
89%
Dentalinsurance
78%
Disability insurance
56%
Reimbursement for tuition/
professional certifications
65%
Employee assistance program
(EAP)
95%
Medicalinsurance
81%
Visioninsurance
79%
AD&D insurance(accidental death and
dismemberment)
AD&D
46%
Dependent care flexible
spending account
42%
Wellness program
41%
Health savings or
reimbursement account
30%
Long-term care
insurance
16%
Legal services
11%
Identity-theft protection
7%
Pet insurance
To find out more about the compensation strategies prevalent today, Robert Half surveyed more than 740 human resources, compensation and benefits professionals in businesses across a variety of industries in North America. The results are shown on this and the following pages.
Benefits, incentives and perks: What’s the difference?
Life insurance
88%
How companies determine
salary increases
Merit calculation
Cost-of-living adjustmentLength of service
Other (e.g., market data)
No method
72%
38%
17%16%
3%
62%
The most common perks offered**
62%
39%
34%
25%
17%
13%
flexible work schedules
regular social events
telecommuting
onsite gym or access to gym
a compressed schedule such as a 4/10 workweek
free or subsidized meals
The most common perks offered**
Benefits are any form of noncash compensation paid indirectly to an employee and not tied to job performance. Examples: medical insurance, retirement plans.
Incentives are cash or other awards made to reward or incent superior performance and boost retention. They are not guaranteed but tied to job performance. Examples: bonuses, spot awards. Perks (short for perquisites) are privileges granted to employees in addition to benefits and incentives. Examples: gym membership, free meals.
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Robert Half is the world’s premier specialized staffing firm. We match organizations of all sizes with highly skilled accounting, finance and business systems professionals for temporary, consulting, interim-to-hire and full-time positions. Our placements are made personally by our skilled recruiters and supported by the latest technology.
Robert Half staffing experts have access to top job candidates, including professionals who aren’t actively looking for work but who may be open to changing jobs for the right opportunity. This gives your firm more options than you’d have on your own.
Our recruiters will interview promising candidates for you, assess their skill sets and fit for your workplace culture, advise you on competitive salary ranges, and help you hire your top choice before the competition does. We deliver turnkey results, quickly.
Robert Half places top accounting and finance talent with businesses worldwide, no matter their hiring needs.
Accountemps places accounting and finance professionals for temporary and temporary-to-hire positions.
Robert Half Finance & Accounting places full-time accounting and finance professionals.
Robert Half Management Resources places senior-level accounting, finance and business systems professionals on a project and interim basis.
Robert Half Financial Services places full-time, temporary and project professionals with financial institutions.
Global consulting firm Protiviti, a Robert Half subsidiary, provides consulting solutions in finance, technology, operations, data, analytics, governance, risk and internal audit. Through Protiviti, Robert Half offers a full suite of consulting services.
Contact Robert Half at 1.866.876.3045 to learn how we can help you find the talent you need today.
About Robert Half
*Responses do not total 100 per cent due to rounding. **Only the top responses shown
***401(k) in the United States and RRSP in Canada Source: Robert Half survey of more than 740 human resources, compensation and benefits executives in North America
Helping employees save for retirement On average, employers match 3 to 4% of employees’ 401(k) or Registered Retirement Savings Plan (RRSP)*** contributions.
Time-off policies
On average, employers offer 14 days of paid vacation for the first 5 years of employment, plus 9 paid holidays, including floating holidays.
of companies offer a 401(k) or RRSP.
Pay for performance
spot awards for individual or team achievement
profit-sharing
retention bonuses
stock options, restricted stock or performance shares
deferred compensation
Nearly 2 out of 3 companies tie compensation to organizational or individual performance.65%
37%
20%
18%
18%
16%
The most common incentives offered
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