2012 Hartford Salary Guide

Creative Financial Staf ng

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Creative Financial Staffing
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2012 CFS Salary Guide
The 2012 CFS National Salary Guide provides
comprehensive data of base salaries for all levels of
accounting and finance professionals in the United States.

We hope this guide will become a valuable resource
in your ongoing discussions and planning for your
accounting department.

Also included in the Salary Guide are the Local Market
Multipliers and a Glossary of popular accounting and
finance positions.

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2012 | National Salaries
Understanding the Data
The CFS National Salary Guide displays the low, middle
& high end of salaries of accounting and finance positions
across companies of different sizes.

Our data is based on placements we’ve made throughout
all CFS offices, accounting and finance professionals we’ve
interviewed and the job orders we’ve received from clients.

SAMPLE RECORD

Statistics and Terminology
First 20%: This figure represents the low 20% of Company Size Definitions
our survey results. This data can also be viewed as
the “low” end of the salary range. Small Companies: Companies with revenues up
to $100 Million.
Middle: This figure represents 60% of our survey
results. This data can also be viewed as the middle Medium Companies: Companies with revenues
salary range. between $100 Million and $500 Million.

Upper 20%: This figure represents the top 20% of Large Companies: Companies with revenues in
our survey results. This data can also be viewed as excess of $500 Million.
the “high” end of the salary range.


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Large Companies
Position/Title Low Middle High
CFO/Treasurer* Under $206,000 $206,000-$309,000 Over $309,000
VP of Finance* Under $154,500 $154,500-$257,500 Over $257,500
Controller* Under $128,750 $128,750-$180,250 Over $180,250
Assistant Controller* Under $92,700 $92,700-$133,900 Over $133,900

General Accounting Department
Accounting Manager Under $82,400 $82,400-$103,000 Over $103,000
Senior Accountant Under $66,950 $66,950-$77,250 Over $77,250
Staff Accountant (1-3 years) Under $51,500 $51,500-$61,800 Over $61,800
Staff Accountant (up to 1 year) Under $41,200 $41,200-$51,500 Over $51,500

Tax Department
Director of Tax* Under $164,800 $164,800-$206,000 Over $206,000
Tax Manager Under $108,150 $108,150-$139,050 Over $139,050
Tax Senior Under $77,250 $77,250-$92,700 Over $92,700
Tax Accountant (1-3 years) Under $56,650 $56,650-$72,100 Over $72,100
Tax Accountant (up to 1 year) Under $46,350 $46,350-$56,650 Over $56,650

Cost Accounting Department
Cost Accounting Manager Under $87,550 $87,550-$108,150 Over $108,150
Senior Cost Accountant Under $66,950 $66,950-$77,250 Over $77,250
Cost Accountant (1-3 years) Under $56,650 $56,650-$66,950 Over $66,950
Cost Accountant (up to 1 year) Under $46,350 $46,350-$56,650 Over $56,650

*Bonuses and incentives are a significant part of overall compensation at
these levels and are not included in the CFS salary ranges.


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Large Companies
Internal Audit Department
Internal Audit Director Under $175,100 $175,100-$216,300 Over $216,300
Internal Audit Manager Under $103,000 $103,000-$128,750 Over $128,750
Internal Audit Senior Under $69,525 $69,525-$92,700 Over $92,700
Internal Auditor (1-3 years) Under $56,650 $56,650-$72,100 Over $72,100
Internal Auditor (up to 1 year) Under $46,350 $46,350-$56,650 Over $56,650

Analysis
Manager of Cost, Financial or Budget Analysis Under $92,700 $92,700-$113,300 Over $113,300
Senior Cost, Financial or Budget Analyst Under $66,950 $66,950-$87,550 Over $87,550
Cost, Financial or Budget Analyst Under $56,650 $56,650-$66,950 Over $66,950

Operations
AP/AR Manager Under $56,650 $56,650-$72,100 Over $72,100
Payroll Manager Under $62,830 $62,830-$82,400 Over $82,400
Billing Manager Under $56,650 $56,650-$72,100 Over $72,100
AP/AR Clerk Under $38,625 $38,625-$43,775 Over $43,775
Payroll Clerk Under $36,050 $36,050-$41,200 Over $41,200
Billing Clerk Under $36,050 $36,050-$41,200 Over $41,200

Credit & Collections
Credit & Collections Manager Under $61,800 $61,800-$82,400 Over $82,400
Commercial Collector Under $36,050 $36,050-$54,075 Over $54,075


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Medium Companies


Tax Department




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Medium Companies

Analysis

Operations



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Small Companies


Tax Department




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Small Companies

Analysis

Operations
Full Charge Bookkeeper Under $46,350 $46,350-$54,590 Over $54,590
Bookkeeper Under $36,050 $36,050-$42,230 Over $42,230

Accounting Clerk Under $30,900 $30,900-$41,200 Over $41,200



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Public Accounting
Company Size Definitions
Large Firms: Firms with revenue in excess of $250 Million.

Medium Firms: Firms with revenues between $25 Million and $250 Million.

Small Firms: Firms with revenues up to $25 Million.

Large Firms
Senior Manager/Director* Under $113,300 $113,300-$175,100 Over $175,100
Manager* Under $87,550 $87,550-$118,450 Over $118,450
Senior (3+ years) Under $69,010 $69,010-$83,430 Over $83,430
Staff (up to 3 years) Under $51,500 $51,500-$66,950 Over $66,950

Medium Firms

Small Firms


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2012 | Local Market Multipliers

The 2012 Local Market Multipliers are derived from the Bureau of Labor
Statistics website. To calculate the local market salary data, multiply the
national salary by the local market multiplier.

Akron 0.9543 Los Angeles 1.045
Atlanta 1.05 Nashville 0.868
Bakersfield 0.952 New Jersey 1.152
Baltimore 0.9548 New York 1.294
Boston 1.13 Madison 0.918
Canton 0.8155 Minneapolis 0.933
Chicago 1.073 Orlando 0.8982
Cleveland 0.9806 Pittsburgh 0.945
Columbus 0.9493 Portland 0.927
Dallas 1.039 San Antonio 0.9105
Denver 1.052 San Francisco 1.227
Ft. Lauderdale 0.9163 Seattle 0.988
Ft. Wayne 0.901 Shelton 0.978
Grand Rapids 0.9352 South Bend 0.8492
Hartford 1.048 Tampa 0.8611
Houston 1.043 Washington, D.C. 1.194
Indianapolis 1.016

Example: Senior Cost Accountant - Large Company - Boston
National Salary: $66,950-$77,250 Local Market Multiplier: 1.13

$66,950 x 1.13=$75,654 $77,250 x 1.13=$87,293
Local Salary: *$75,750-$87,250
* All local salaries are then rounded to the nearest 250. Some are slightly adjusted based on internal data collected.

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2012 | Hartford Local Salaries
Large Companies



Tax Department



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Large Companies


Analysis

Operations


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Medium Companies



Tax Department



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Medium Companies


Analysis

Operations


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Small Companies



Tax Department



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Small Companies


Analysis

Operations
Full Charge Bookkeeper Under $48,500 $48,500-$57,250 Over $57,250
Bookkeeper Under $37,750 $37,750-$44,250 Over $44,250
Accounting Clerk Under $32,500 $32,500-$43,250 Over $43,250


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Public Accounting
Company Size Definitions
Large Firms: Firms with revenue in excess of $250 Million.

Medium Firms: Firms with revenues between $25 Million and $250 Million.

Small Firms: Firms with revenues up to $25 Million.

Large Firms

Medium Firms

Small Firms

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2012 | Glossary

The Glossary provides the definition of
the financial and accounting positions and
terminology used throughout the 2012
CFS Salary Guide.

2012 | Glossary
Chief Financial Officer/Treasurer nonexempt accounting staff. Advanced Degrees
Directs the overall financial plans and accounting and/or professional certifications are assumed at
practices of an organization. Oversees treasury, this level.
accounting, budget, tax and audit activities of the
organization and subsidiaries. Oversees financial Assistant Controller
and accounting system controls and standards Supports company controller in directing
and ensures timely financial and statistical budget and cost controls, financial analysis,
reports for management and/or board use. This and accounting procedures. Manages financial
is the top finance and accounting position for statement preparation. Organizes and plans
the organization. Advanced Degrees and/or auditing schedules. Develops policy and
professional certifications are assumed at this procedure manuals for accounting department.
level. May file tax returns. Advanced Degrees and/or
professional certifications are assumed at this level.
Vice President of Finance
Directs and coordinates, through subordinate Accounting Manager
managerial personnel, activities of department, Manages accounting functions and preparation
region, administrative division, or specific of reports and statistics detailing financial results.
function of financial institution, such as lending, Establishes and maintains accounting practices
trusts, mortgages, and investments, acting under to ensure accurate and reliable data necessary
authority and responsibility delegated by corporate for business operations. May specialize in one
executive officer. Develops and recommends or more functional accounting areas such as
plans for expansion of programs, operations, accounts receivable, accounts payable, payroll,
and financial activities. May authorize loans of budget, etc. Supervises professional and/or
specified types and amounts when permitted by clerical accounting employees.
institution regulations. Advanced Degrees and/
or professional certifications are assumed at this Accountant – Senior
level. Establishes, interprets and analyzes complex
accounting records or financial statements. These
Controller may include general accounting, costing or
Directs budget and cost controls, financial budget data. Examines, analyzes and interprets
analysis, accounting practices and reports. accounting records for management.
Analyzes and interprets financial data and
recommends changes to improve systems and
financial performance. This may be the top level
in a mid-size company, or may report to the CFO
in a very large company. Supervises exempt and

2012 | Glossary
Staff Accountant Tax Senior
Prepares and maintains accounting records that Completes complex professional tax accounting
may include general accounting, costing, or activities. Responsibilities include setting up and
budget data. Examines, analyzes and interprets retaining organization’s tax records, filing tax
accounting records for the purpose of giving returns, and preparing related reports, in addition
advice or preparing statements. May act as lead to performing management studies. May also
to lower level employees. lead lower level accounting staff.

Director of Tax Tax Accountant
Coordinates the preparation and review of Completes professional tax accounting activities
organization’s tax information for tax compliance for an organization. Sets up and retains
and tax financial reporting purposes. Oversees organization’s tax records. Files tax returns and
the process of budgeting tax payments for prepares related reports.
income forecasting and cash flow projections.
Monitors legislative developments to insure the Cost Accounting Manager
proper corporate response. Conducts activities Manages the preparation of cost accounting
that include ensuring compliance with the records. Designs and implements cost control
organization’s tax standards, communicates procedures.
complex tax issues to users of tax information
at all levels in the organization. Drives the tax Senior Cost Accountant
strategies in order to meet the tax objectives Responsible for all aspects of costing, including
of the organization. Advanced Degrees and/or maintaining and analyzing the bill of materials,
professional certifications are assumed at this assisting with developing cost estimates for
level. product lines, and tracking/analyzing business
costs. In addition, reviews, corrects, and reconciles
Tax Manager general ledger accounts, prepares journal entries,
Establishes and carries out a campaign to reduce schedules and reports for the monthly Operating
the organization’s tax debt. Adheres to all federal, Book, and assists in the preparation of audit
state, local, or international tax laws. Manages schedules and annual budget.
the retention and preparation of tax records, tax
returns, and other required reports. Assesses the
impact of the organization’s tax liability and
oversees tax accounting staff. Advanced Degrees
and/or professional certifications are assumed at
this level.

2012 | Glossary
Cost Accountant Audit Senior
Prepares cost accounting records such as Conducts complex audit projects. Reviews records
subcontracting, field service, sales costs, and for accuracy and conformance to standards.
research and development costs. Computes Inspects financial or operational information to
project costs, compares actual costs to estimates ensure procedures are correct and appropriate.
and analyzes variances. Compiles audit findings and recommends revisions
to systems and procedures.
Audit Director
Supervises the most difficult and sensitive Auditor
internal and/or external financial, operations and Conducts audits to verify accuracy of records,
compliance audits and evaluates the work of compliance with standards, policies and procedures.
other advanced-level auditors so that audits are Compiles audit findings and recommendations for
in compliance with accepted accounting/auditing modifications and improvements to systems and
principles and standards within state and federal procedures.
laws. Represents the highest-level audit supervisory
class. Directs, assigns and controls workflow; Manager of Cost, Financial or Budget Analysis*
effectively recommends hiring and disciplinary Plans and directs analysis of financial data. Provides
actions, writes and revises position descriptions assessment of existing and proposed financial
and conducts performance evaluations. Advanced plans and policies. Proposes changes to ensure
Degrees and/or professional certifications are organization achieves financial targets. Advanced
assumed at this level. Degrees and/or professional certifications are
assumed at this level.
Audit Manager
Directs review and verification of records, Senior Financial Analyst
compliance with standards, policies and procedures. Analyzes complex financial data and compiles
Develops audit procedures and systems. Oversees reports. Provides recommendations to management
audit findings and recommendations. Supervises for establishing and achieving profit objectives.
internal audit staff. Advanced Degrees and/or Assesses alternatives and overall financial
professional certifications are assumed at this performance to suggest appropriate course of
level. action. May train or mentor junior staff.

2012 | Glossary
Financial Analyst Payroll Manager
Analyzes financial data, compiles reports and Manages the preparation, distribution, and
prepares recommendations to management. reporting processes for payroll. Oversees the
Develops business plans and forecasts budget calculation of wages, overtime, and deductions
comparisons, profit analysis, and other financial to ensure compliance with federal and state laws.
reports. Ensures that payments and government reports
are disbursed accurately and in a timely manner.
Full Charge Bookkeeper Establishes policies and procedures for the
Maintains general ledger through trial balances. payroll function.
Prepares monthly and yearly adjustments and
accruals, and prepares financial statements with Billing Manager
limited supervision. Oversees the billing function to ensure invoicing
is completed accurately and on time. Provides
Bookkeeper work direction and review for billing clerks.
Records organization’s business transactions and Manages the processing and calculation of
retains all accounting records. Posts, verifies, and billing costs consistent with company policy and
reconciles accounts payable, accounts receivable, procedure. Prepares reports of billing activity for
expenses, payroll, or other ledger accounts. management.
Prepares statements, invoices, and vouchers.
Submits reports of business financial operations. Accounting Clerk
Verifies and posts transactions to journals,
Accounts Payable/Receivable Manager ledgers and other records. Prepares statements,
Oversees accounts payable record keeping. invoices and vouchers. May handle balancing
Supervises recording of amounts due, verification and reconciliations. May specialize in one area of
of invoices, and calculation of discounts. Ensures the accounting function. Requires understanding
expense coding, voucher preparation, and check of bookkeeping procedures.
issuance are accomplished accurately and in
a timely manner. Produces various reports Accounts Payable Clerk
for management including accounts payable Oversee accounts payable record keeping.
register. Supervises recording of amounts due, verification
of invoices, and calculation of discounts. Ensures
expense coding, voucher preparation, and check
issuance are accomplished accurately and in
a timely manner. Produces various reports
for management including accounts payable
register.

2012 | Glossary
Accounts Receivable Clerk Credit and Collections Manager
Reviews invoices for accuracy and completeness. Directs and coordinates all collection activities
Sorts documents by account name or number and supervises collections staff. Responsible for
and processes invoices for payment. May obtaining updates and remaining current on legal
perform other basic clerical duties associated issues and proper documentation involved with
with accounts payable. May post transactions collection of delinquent accounts.
to journals, ledgers and other records. Requires
understanding of bookkeeping procedures. Commercial Collector
Initiates appropriate collection action on
Payroll Clerk delinquent accounts and manages orders on
Computes payroll; has knowledge of hourly, specific delinquent accounts, negotiates payments
weekly, etc. wage calculation, deduction rates and on past due dollars as well as plans to ensure new
limits. Has ability to reconcile automated output dollars are paid in a timely manner, processes
to source data; may possess specific software and the daily orders within department guidelines for
service bureau experience. specified delinquent accounts, works with the
Credit Team, the Accounts Receivable Team, the
Billing Clerk Sales Team and all other departments within the
Reviews billing data from charge or sales slips company to ensure customer issues are addressed
and purchase orders to ensure amounts and appropriately. Also identifies and prepares
account numbers are accurate. Calculates billing accounts for outside collection efforts once all
charges, and assigns billing numbers for tracking in-house avenues have been exhausted.
purposes. Prepares invoices and bills of lading.
Submits invoices for supervisory approval of
charges and credit terms.

About Creative Financial Staffing
Creative Financial Staffing (CFS) is the world’s
largest staffing company specializing exclusively in the
CFS Guarantees Your Satisfaction
placement of accounting and financial professionals.
Client and recruit satisfaction is the most important part
of our business, and we work hard to ensure that each
Founded in 1994, CFS is unique in that it is the only
placement we make is the absolute best.
temporary and permanent staffing agency in the world to
function as a fully integrated unit of leading accounting
Our promise of excellence applies to all of our temporary
firms.
and permanent placements. We do what we say we’ll
do by servicing our clients and recruits with a level of
This affiliation gives us a distinct advantage: We
quality that is second to none.
are connected. Through financial and accounting
networking, CFS has built an exceptional pool of
candidates to help solve our clients’ staffing needs fast.

Executive Search Expertise
Temporary Staffing Services
CFS specializes in Accounting and Finance permanent/
Our Temporary Staffing solutions cover a broad range of
executive search services. We recruit top talent from mid
financial disciplines and talent levels - from accounting
level accounting positions to senior and executive level
clerks to CFOs. All of our temporary employees are
managers. We offer the following services to customize
personally interviewed and referenced in order to help
our clients’ search based on their unique needs:
us make the best possible placements for our clients.
• At length discussions to determine the skills,
knowledge, and abilities required for the position
• Assistance with defining a compensation plan for
Project Support & Interim Management Services the position
Non-stop support for interim management. With over • A rigorous screening process involving personal
18 years of experience in the consulting and accounting interviews, professional references, and employment
staffing industry, we know how to fit the right person and degree verification to develop a short list of
into the right environment. Our consultants will help qualified candidates
match your needs and skills with the needs and culture • Assistance with making the final offer
of our clients.

To locate the office closest to you, visit us at www.cfstaffing.com.

2012 Hartford Salary Guide

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