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Salaries in the accounting industry are predicted to remain flat in 2017, unless accountants are able to bring a diverse and unique skill set according to Morgan McKinley Australia.
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Corporate accountant salaries tipped to remain flat
28 February 2017
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9 minute read
Yesterday, professional services recruiter, Morgan McKinley Australia, released its 2017 Salary Guide, revealing that salaries remained flat across traditional roles in 2016, with increases in salaries seen in niche areas.
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Morgan McKinley Australia joint managing director Louise Langridge told Accountants Daily that these trends ring true in the accounting profession.
“We’ve seen typically salaries have remained reasonably flat in 2016,” Ms Langridge said.
“Where we have seen peaks are really in areas that have been traditionally talent-short, and they're usually in newer areas where roles are evolving.”
Ms Langridge said that she expects this to continue in 2017, with the 2017 Salary Guide indicating that a newly qualified corporate accountant can expect a salary of $80,000 to $110,000.
Meanwhile, a corporate accountant manager can expect a salary of $110,000 to $160,000, and a department head or general manager in corporate accounting can expect a salary of $200,000 to $300,000.
Ms Langridge said accountants who can bring together finance and commercial knowledge with analytics and technology skills will be best placed to boost their salary.
“I think those are the sorts of skill sets where we've seen a bit of a premium paid in that market because it's an area where it's very difficult to find that kind of capability and skill.”
Organisations increasingly want more from their corporate accountants, meaning accountants can’t be complacent according to Ms Langridge.
“What organisations are really looking for are accountants that bring obviously the financial acumen, but can really partner with the business,” she said.
“So, really ensuring that they upskill themselves in terms of commercial awareness, really research and understand the industry that they are a part of and how they can potentially add value to that industry sector, are obviously critical to be able to add value back to the business.”
Ms Langridge also highlighted a shift in accountants’ perception of the best place to work for as the SMEs and start-up industry continues to grow.
“What we've also seen is, people that may have been building successful corporate careers within finance are actually looking at more entrepreneurial start-up environments to really challenge themselves in different environments,” she said.
“We’re seeing a definite trend of people that are looking to broaden their career and experience more on that start-up environment.”
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