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Find the Right Salaries for Top Accounting & Finance Talent

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Brooke Kallimanis

The document discusses compensation trends for accounting and finance professionals. It notes that demand for these professionals is rising due to economic growth and regulatory changes. This has created a competitive job market where candidates can be more selective. The document then provides detailed salary and total compensation figures for a variety of accounting and finance roles based on company size and location to help employers attract and retain top talent.

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REALITY CHECKHow to pay accounting & finance professionals in a changing market
FUELED BY ECONOMIC GROWTH, THE DEMAND FOR ACCOUNTING & FINANCE TALENT IS ON THE RISE. THIS HAS CREATED A COMPETITIVE LABOR MARKET— A MARKET IN WHICH CANDIDATES, ESPECIALLY THOSE WITH SPECIALIZED SKILLS, CAN PICK & CHOOSE THEIR JOBS. BECAUSE OF THIS, IT’S NOW MORE IMPORTANT THAN EVER FOR EMPLOYERS TO OFFER QUITE A BIT IN ORDER TO HIRE & RETAIN TOP TALENT. TO BUILD A TALENTED & MOTIVATED TEAM, YOU NEED A TERRIFIC CULTURE. YOUR EMPLOYEES SHOULD STRIKE A HEALTHY WORK-LIFE BALANCE, HAVE OPPORTUNITIES TO GIVE BACK TO THE COMMUNITY &, GENERALLY, BE ENGAGED IN A POSITIVE ENVIRONMENT. BUT, AT THE CORE OF EVERY JOB IS A SALARY. ANY ACCOUNTING OR FINANCE PROFESSIONAL IS UNLIKELY TO ACCEPT A JOB OFFER—OR STICK AROUND LONG IF THEY DO—WITHOUT A GENEROUS NUMBER. FORTUNATELY, OUR 2017 SALARY GUIDE PROVIDES EXACTLY WHAT YOU NEED TO OFFER THE RIGHT SALARIES & EMPLOY THE BEST TALENT. YOU’LL FIND ACCURATE, UP-TO-DATE SALARY & TOTAL CASH COMPENSATION FIGURES BASED ON COMPANY SIZE & GEOGRAPHIC AREA FOR COUNTLESS POSITIONS. YOU’LL ALSO FIND DETAILED, CONTEMPORARY JOB DESCRIPTIONS. WE’RE CONFIDENT OUR SALARY GUIDE— & OUR PARTNERSHIP—WILL HELP YOUR BUSINESS LAND THE TALENT YOU NEED TO SUCCEED NOW, & FAR INTO THE FUTURE. — David Alexander, President OFFER Acceptance 6 ACCOUNTING & FINANCE 9 PUBLIC ACCOUNTING 10 BANKING & FINANCIAL SERVICES 14 JOB DESCRIPTIONS CONTENTS 2 INSIGHTS FOR 2017 4 ABOUT THE SALARIES 5 VARIANCES
3 According to the Bureau of Labor Statistics (BLS), total U.S. unemployment has seen little movement, hovering around 5%, yet accounting and finance occupations have seen job gains. In April of 2016, employment in financial activities rose by 20,000 jobs, and over the prior 12 months, grew by 160,000 jobs. Driven by a recovering economy and stronger regulatory environment, the BLS projects employment for all business and financial operations occupations will GROW 8% FROM 2014 TO 2024, ADDING OVER 632,000 NEW JOBS. RISING SALARIES As the economy improves, even more accounting and finance experts will be needed to prepare and examine financial records. The increased demand for this expertise means salaries will rise. While this is good news for job seekers, low unemployment in accounting and finance (3% compared to 5% overall), means employers will have a tough time engaging talent. Speaking of salaries, according to the BLS $65,710 IS THE MEDIAN ANNUAL WAGE FOR ALL BUSINESS & FINANCIAL OCCUPATIONS. This is significantly higher than the $36,200 figure for all occupations. Here are the positions with some of the highest median pay: > Chief Financial Officer $547,280 > Treasurer $302,145 > Finance Director $301,924 > Controller $275,157 GENERATIONS IN THE WORKFORCE It’s a multigenerational world—one where members of several eras work together and blend their skills. Here’s a breakdown of generations in the U.S. workforce, per the Incentive Research Foundation: When it comes to Millennials, some of their career must- haves differ from earlier generations. Millennials demand positive cultures, flexible hours and personal fulfillment —they won’t stay at a company for long without those. What remains the same is the importance they place on salaries. The non-profit organization Catalyst reports the following about the workforce’s largest generation: 80% Equate success with having enough money to support their families 74% Believe success means having money in savings These jobs will realize the most gain: The demand for accounting and finance professionals is up across the board, from the C-Suite to entry-level. According to the National Association of Colleges and Universities, for students who graduated in 2015, accounting and finance majors were among those most likely to land jobs. 11% ACCOUNTANTS AUDITORS 12% FINANCIAL ANALYSTS 30% FINANCIAL PLANNERS 55 MILLION MILLENNIALS 53 MILLION GEN XERS 44 MILLION BABY BOOMERS 4 MILLION TRADITIONALISTS THE INSIGHT YOU NEED TO PLAN A GREAT RECRUITING RETENTION STRATEGY FOR 2017 GROWTH Demand 2
5 Here’s an example: AN ACCOUNTANT HAS AN AVERAGE BASE SALARY OF $47,059 THE COMPANY IS BASED IN SAN DIEGO, WHICH HAS A LOCAL VARIANCE OF 117.16% HERE IS THE CALCULATION YOU WOULD USE: $47,059 x 117.16% = $55,134 THE SALARY FOR SAN DIEGO WOULD BE $55,134 4 accountingprincipals.com/salaryguide AZ Mesa..............................104.86% Phoenix.........................105.05% CA Burbank...........................110.57% East Bay.........................126.76% Los Angeles..................115.93% Los Angeles West....... 112.69% Newport Beach............ 116.49% Ontario............................105.14% Sacramento...................114.19% San Diego........................117.16% San Francisco..............132.81% San Gabriel Valley........114.00% Silicon Valley.................132.81% Torrance..........................113.27% Woodland Hills............. 115.43% CO Denver...........................108.58% CT Stamford........................109.16% DC Washington.................. 113.45% FL Fort Lauderdale...........103.66% Jacksonville...................101.37% Miami...............................102.17% Orlando............................99.04% Tampa.............................100.91% West Palm Beach.........98.87% GA Atlanta............................108.07% Columbus....................... 97.50% IL Chicago..........................113.06% Deerfield.........................112.57% Oakbrook Terrace........ 112.69% Schaumburg................. 112.69% IN Indianapolis..................103.91% KS Overland Park..............100.28% KY Louisville..........................99.12% MA Boston............................115.89% MD Baltimore........................110.14% MI Detroit.............................109.76% Grand Rapids................103.74% MN Minneapolis..................110.69% MO Kansas City...................101.82% St. Louis........................ 105.44% NC Charlotte.......................104.56% Greensboro....................99.42% Raleigh..........................104.92% NJ Edison............................120.06% Paramus........................ 121.22% Parsippany................... 120.23% Princeton.........................117.61% NM Albuquerque................102.99% NV Las Vegas.....................105.62% NY Long Island.....................114.14% New York City............... 124.66% OH Cincinnati.....................102.98% Cleveland......................105.33% Columbus..................... 106.22% OK Oklahoma City............... 97.58% Tulsa..................................97.70% OR Portland......................... 105.17% PA King of Prussia..............111.20% Philadelphia...................111.02% Pittsburgh....................103.28% TN Knoxville..........................94.86% Nashville........................101.23% TX Austin.............................101.44% Dallas..............................105.31% Fort Worth....................104.40% Houston........................ 109.42% VA McLean...........................116.86% Norfolk.............................94.84% Richmond.....................103.25% WA Bellevue......................... 115.24% Seattle.............................116.47% WI Milwaukee....................105.62% National variances are based on salary averages. Increases and decreases of demand for certain positions may impact this percentage. We realize that salaries in your city may not be the same as salaries in other areas of the country. That’s why we’ve provided variances for all of the key markets throughout the U.S. You can use a variance to calculate the most accurate salary ranges for your specific job market. Take the average base salary for the position you are researching and multiply it by the variance. The figures in this 2017 Salary Guide are based on national averages compiled through Accounting Principals’ partnership with CareerBliss, a career community dedicated to helping people find happiness in the workplace and in life. CareerBliss has millions of salary reports from real employees that are aggregated and formatted to be helpful to employers and employees alike, and their work has been featured on CNN, CNBC, Fox Business, Forbes and many other media outlets. To further validate the data, each office in Accounting Principals’ nationwide branch network reviewed their local market data. Based on that review, some figures were revised to ensure local accuracy. This comprehensive approach results in more regionally accurate data than the public data that is found in other salary guides. Salaries may be affected by many factors, including company size, benefits offered, location, educational requirements and local supply/demand trends. The accurate, up-to-date data in our guide is broken into the categories shown below. SMALL This figure represents the national average for companies in all industries with less than $50 million in annual sales. MEDIUM This figure represents the national average for companies in all industries with $50-$200 million in annual sales. LARGE This figure represents the national average for companies in all industries with greater than $200 million in annual sales. LOW Only 10% of the national workforce — across all industries and company sizes — is paid below this figure. HIGH Only 10% of the national workforce — across all industries and company sizes — is paid above this figure. AVERAGE This figure represents the national average across all industries and company sizes. LOW Only 10% of the national workforce — across all industries and company sizes — is below this figure, which includes annual cash incentives. HIGH Only 10% of the national workforce — across all industries and company sizes — is above this figure, which includes annual cash incentives. AVERAGE This figure represents the national average across all industries and company sizes and includes annual cash incentives. AVERAGE BASE SALARY BY COMPANY SIZE BASE SALARY TOTAL CASH COMPENSATION VARIANCES ABOUT THE SALARIES IN THIS GUIDE VARIANCES FOR SPECIFIC JOB MARKETS
7 2017 Salary Guide Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE ACCOUNTING FINANCE Accountant 44,454 47,349 50,778 38,837 56,692 47,059 39,473 58,230 47,988 Accountant, Sr. 66,913 70,006 72,403 55,358 83,566 68,194 55,873 87,391 70,817 Accounting Clerk 33,839 34,143 35,988 27,115 41,915 33,899 27,483 42,870 34,550 Accounting Supervisor 72,948 74,865 78,910 55,381 95,088 74,333 56,413 100,795 77,732 Accounting Manager 79,650 85,032 102,378 74,321 116,153 94,475 75,658 126,008 99,448 Accounting Director 125,543 131,714 147,838 101,135 174,468 135,416 105,928 211,791 150,550 Accounts Payable Clerk 32,598 36,896 39,333 27,928 44,421 36,185 28,300 45,288 36,893 Accounts Payable Specialist 35,754 37,983 41,928 29,174 47,696 38,906 29,305 55,865 39,969 Accounts Payable Specialist, Sr. 43,342 48,648 51,192 36,196 62,798 47,910 37,162 64,749 49,985 Accounts Payable Supervisor 56,564 59,485 63,710 42,565 74,622 59,551 44,008 75,646 62,328 Accounts Payable Manager 74,154 78,918 82,985 56,672 101,365 77,702 57,588 110,420 81,647 Accounts Receivable Clerk 33,693 36,925 42,067 28,576 45,392 38,122 28,753 46,383 38,542 Accounts Receivable Specialist 35,992 37,401 43,039 29,502 48,442 39,183 30,685 56,174 40,558 Accounts Receivable Specialist, Sr. 41,739 49,095 51,745 37,080 63,143 49,654 38,688 65,137 52,758 Accounts Receivable Supervisor 54,358 57,989 60,122 40,412 72,267 54,031 41,783 72,762 58,366 Accounts Receivable Manager 74,092 77,817 81,759 56,509 103,392 76,587 56,825 112,431 79,932 Assistant Controller 104,170 108,261 125,807 83,205 166,895 101,047 85,749 190,503 109,782 Assistant Treasurer 107,206 117,709 176,376 88,556 191,305 139,447 89,745 234,553 158,964 Billing Clerk 35,032 38,893 42,527 27,844 44,244 36,293 28,132 45,107 36,492 Billing Specialist 36,800 41,057 44,288 30,155 48,048 38,491 31,155 48,482 39,936 Billing Specialist, Sr. 37,271 42,334 44,569 31,571 49,743 40,198 32,062 51,427 40,423 Billing Supervisor 58,920 60,684 63,878 42,627 81,101 60,067 42,780 83,171 61,477 Billing Manager 64,812 66,753 70,266 46,890 89,211 66,074 47,058 91,488 67,624 Bookkeeper 39,234 40,763 42,881 31,563 53,111 41,651 31,798 53,540 43,012 Budget Analyst 52,313 53,713 54,506 41,342 67,314 53,936 42,482 67,587 55,047 Budget Analyst, Sr. 77,664 80,699 83,131 62,115 96,786 78,851 62,619 102,435 80,839 Budget Manager 96,185 96,892 108,795 75,475 130,972 101,071 77,378 142,446 107,198 Cash Applications Clerk 42,272 45,087 48,802 37,059 57,870 45,980 39,070 63,927 51,812 Chief Financial Officer 213,627 270,906 444,444 189,701 547,280 353,748 237,259 1,005,472 513,994 Collections Specialist 33,198 36,311 41,084 25,374 44,952 34,687 25,442 45,807 35,145 Collections Specialist, Sr. 38,961 43,552 46,059 30,861 50,014 40,043 31,367 51,679 42,119 Controller 125,921 151,882 232,640 118,392 275,157 185,158 129,935 388,003 224,560 Cost Accountant 49,004 51,548 53,735 41,216 63,464 52,882 41,881 65,015 53,694 Cost Accountant, Sr. 73,889 75,523 78,596 49,554 89,200 69,549 49,872 93,213 70,776 ACCOUNTING FINANCE #3and #4ACCOUNTING FINANCE ARE TWO OF THE TOP-RANKED INDUSTRIES IN THE U.S. NEWS WORLD REPORT’S BEST JOBS RANKING The 2015 U.S. Salary Survey from the Institute of Management Accountants found that base salary and total compensation for accounting and finance occupations increased at a year-over-year rate of nearly 4%, exceeding the U.S. gross domestic product growth rate. The best-compensated accountants work in securities and commodity contracts intermediation and brokerage and for the federal executive branch. 28-46% OF PROFESSIONALS WITH CMA OR CPA DESIGNATIONS EARN MUCH MORE THAN THEIR NON-CERTIFIED PEERS On another positive note, employment for financial managers in private industry is expected to grow 7% from 2014 to 2024, about as fast as the average for all occupations. Today, many professionals ask for—and receive— higher compensation. This good news for job seekers means a bumpy road ahead for employers. Per the article “It’s a Seller’s Market for Accountants: Report Finds Demand is High” on AccountingWEB, it’s getting tougher for businesses to find skilled candidates for job openings, especially in major urban markets. As a result, employers must be willing to negotiate salaries and move quickly in their recruiting efforts. Offering the right compensation from the start could be the difference between landing top candidates and losing them to the competition. + + + + + + + + 6 accountingprincipals.com/salaryguide
9 2017 Salary Guide 8 accountingprincipals.com/salaryguide PUBLIC ACCOUNTINGBase salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE ACCOUNTING FINANCE continued Cost Accounting Manager 94,893 96,003 107,787 68,636 123,140 95,215 68,861 143,317 101,924 Credit Collections Clerk 33,007 33,729 37,029 22,405 39,968 31,086 22,774 42,461 31,839 Credit Collections Manager 78,901 86,389 95,609 57,657 106,801 80,524 58,950 117,451 84,748 Credit Analyst 47,162 50,336 51,310 36,764 59,003 48,484 39,472 60,800 49,899 Credit Analyst, Sr. 71,447 73,090 74,696 48,476 91,657 70,965 49,910 99,224 73,566 Finance Manager 73,177 81,911 87,833 46,842 98,479 76,616 48,498 113,628 84,779 Finance Director 173,613 182,367 246,380 138,539 301,924 213,994 142,321 467,911 290,800 Financial Analyst 52,011 54,634 55,999 41,693 64,105 52,535 42,199 66,361 53,911 Financial Analyst, Sr. 78,724 81,943 84,134 64,358 94,544 78,884 65,458 100,284 81,910 Financial Analysis Manager 99,242 103,115 110,781 83,431 130,404 105,090 87,283 147,081 114,308 Financial Reporting Accountant 50,790 56,658 58,274 43,783 68,470 54,041 44,084 70,985 56,494 Financial Reporting Accountant, Sr. 78,542 82,729 85,340 60,253 101,309 80,687 62,258 107,931 84,512 Financial Reporting Manager 105,480 109,993 114,563 81,260 130,821 104,455 84,394 147,760 113,041 Financial Reporting Director 125,558 137,083 155,176 91,250 152,826 129,814 104,973 192,133 137,882 Internal Auditor 52,769 54,481 55,240 43,566 65,039 53,138 43,788 67,686 54,324 Internal Auditor, Sr. 78,507 81,896 83,288 62,536 95,062 78,838 65,052 99,775 81,473 Internal Audit Manager 92,468 104,027 121,364 98,247 115,585 109,806 104,027 138,702 124,832 Internal Audit Director 120,731 135,822 158,459 128,276 150,913 143,368 135,822 181,096 162,986 Internal Audit Vice President 169,567 190,763 222,557 180,165 211,959 201,361 190,763 254,351 228,916 Payroll Clerk 36,841 40,597 44,074 30,452 47,435 37,981 30,740 47,860 38,603 Payroll Specialist 43,268 45,436 47,874 35,460 54,001 43,976 36,147 55,129 44,663 Payroll Specialist, Sr. 45,635 46,522 52,199 36,323 55,497 45,188 36,606 56,498 45,868 Payroll Supervisor 64,222 65,046 68,705 48,947 82,075 64,325 49,129 83,417 64,989 Payroll Manager 68,300 72,848 99,301 62,568 107,198 84,422 65,152 118,101 89,789 Staff Accountant 52,052 55,571 60,389 48,512 63,902 56,948 48,954 69,625 58,753 Staff Accountant, Sr. 78,207 81,023 84,887 62,697 98,637 79,898 64,125 104,906 83,176 Tax Accountant 51,908 52,652 54,212 40,549 62,547 51,193 40,995 64,941 52,312 Tax Accountant, Sr. 78,525 94,796 100,674 62,975 96,071 78,840 64,899 103,423 83,194 Tax Manager 108,015 110,856 117,067 83,163 143,304 110,814 85,680 163,721 121,427 Tax Director 138,261 148,974 194,478 116,357 213,169 159,181 127,329 282,710 188,484 Treasurer 170,537 181,368 238,623 128,558 302,145 206,333 142,696 444,139 262,081 Treasury Analyst 48,377 50,926 53,204 39,186 62,367 49,778 39,221 63,643 51,204 Treasury Analyst, Sr. 72,635 75,939 79,268 58,134 94,607 74,579 59,185 99,290 77,787 Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE PUBLIC ACCOUNTING Audit/Assurance Services, Associate 48,933 55,049 64,224 51,991 67,283 61,166 53,826 73,399 66,059 Audit/Assurance Services, Sr. Associate 51,379 57,802 67,436 54,591 70,647 64,224 56,517 77,069 69,362 Audit/Assurance Services, Manager 61,142 68,784 80,248 64,963 84,070 76,427 67,256 91,712 82,541 Audit/Assurance Services, Sr. Manager 85,598 96,298 112,348 90,948 117,697 106,998 94,158 128,397 115,558 Tax Services, Associate 62,896 70,758 82,551 66,827 86,482 78,620 69,186 94,344 84,910 Tax Services, Sr. Associate 66,041 74,296 86,679 70,169 90,806 82,551 72,645 99,062 89,155 Tax Services, Manager 78,589 88,412 103,148 83,501 108,060 98,236 86,448 117,883 106,095 Tax Services, Sr. Manager 88,055 99,062 115,572 93,558 121,075 110,068 96,860 132,082 118,874 Partner 149,270 158,641 243,377 128,511 293,043 203,171 133,734 303,808 205,296 Some of the reasons why they are in such high demand in public accounting are globalization, an improving economy, tight lending standards, and a complex tax and regulatory environment. Public accounting firms face stiff competition from government and other employers for top talent. There were 1.3 million accountants and auditors employed in the U.S. in 2014 in the following areas: 26% in public accounting, tax preparation, bookkeeping and/or payroll 8% in government 8% in finance and insurance 7% in management of companies and enterprises 6% in manufacturing According to The American Institute of CPAs’ report “2015 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits,” 91% of firms expect their hiring of new accounting grads to be the same or higher than the previous year. With Millennials as the largest segment of the workforce, public accounting firms need to reevaluate the old way of working that focused on long hours. Millennials recognize the ease of 24/7 communication and want greater flexibility. They see more value in their modified schedules that focus on productivity rather than meeting a certain number of hours worked. While 95% surveyed in PwC’s “Millennials at Work” report valued work-life balance, the myth that Millennials don’t place a premium on compensation is just that: a myth. 44% of those questioned said competitive wages made an employer more attractive, the second highest proportion for any factor given. PER THE BLS, EMPLOYMENT OF ACCOUNTANTS AUDITORS IS PROJECTED TO GROW BY 11% FROM 2014 TO 2024, FASTER THAN THE 7% AVERAGE FOR ALL OCCUPATIONS. 1,475,100 AUDITORS ACCOUNTANTS WILL BE EMPLOYED IN THE U.S. BY 2024.
11 2017 Salary Guide Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE BANKING FINANCIAL SERVICES Analyst, Buy Side 61,560 69,255 80,798 65,408 84,645 76,950 67,716 92,340 83,106 Associate, Buy Side 66,485 74,795 87,261 70,640 91,417 83,106 73,133 99,727 89,754 Analyst, Sell Side 61,560 69,255 80,798 65,408 84,645 76,950 67,716 92,340 83,106 Associate, Sell Side 66,485 74,795 87,261 70,640 91,417 83,106 73,133 99,727 89,754 Banking Operations Specialist 34,839 39,194 45,726 37,016 47,903 43,549 38,323 52,258 47,032 Banking Operations Specialist, Sr. 37,278 41,937 48,927 39,607 51,257 46,597 41,005 55,916 50,325 Banking Operations Specialist Manager 43,549 48,992 57,157 46,270 59,879 54,436 47,903 65,323 58,791 Business Development Officer 57,229 64,383 75,114 60,806 78,691 71,537 62,952 85,844 77,260 Client Service Representative 24,369 27,415 31,984 25,892 33,507 30,461 26,806 36,553 32,898 Client Service Representative, Sr. 25,831 29,060 33,903 27,445 35,517 32,289 28,414 38,746 34,872 Client Service Representative Manager 33,141 37,284 43,498 35,213 45,570 41,427 36,456 49,712 44,741 Commercial Lending Specialist 37,085 41,721 48,675 39,403 50,992 46,357 40,794 55,628 50,065 Commercial Lending Specialist, Sr. 40,423 45,476 53,055 42,950 55,582 50,529 44,465 60,635 54,571 Commercial Lending Manager 48,953 55,072 64,250 52,012 67,310 61,191 53,848 73,429 66,086 Commodities Analyst Specialist 68,126 76,642 89,416 72,384 93,674 85,158 74,939 102,190 91,971 Commodities Analyst Specialist, Sr. 77,664 87,372 101,934 82,518 106,788 97,080 85,431 116,496 104,847 Commodities Analyst Manager 91,289 102,701 119,817 96,995 125,523 114,112 100,418 136,934 123,241 Compliance Specialist 47,140 47,616 48,218 39,674 55,411 46,972 39,894 60,186 48,536 Compliance Specialist, Sr. 50,658 51,375 53,260 43,536 57,248 51,064 44,644 61,106 52,263 Compliance Manager 94,341 94,956 97,696 79,315 100,202 83,852 81,134 129,956 99,007 Consumer Loan Collector 29,532 30,507 31,952 24,840 35,021 30,028 26,117 45,026 31,119 Consumer Loan Collector, Sr. 36,855 38,338 40,289 31,962 44,538 37,768 32,813 52,181 40,814 Consumer Loan Collection Manager 76,252 79,230 83,358 58,573 97,114 78,780 61,279 140,489 95,970 Consumer Loan Processor 33,581 35,103 36,502 27,093 41,354 34,560 28,214 46,659 36,231 Consumer Loan Processor, Sr. 39,673 41,474 43,766 32,382 50,413 40,900 32,989 58,268 42,406 Consumer Loan Processing Manager 62,778 65,825 69,288 48,733 82,319 65,036 50,978 109,690 74,801 Credit Analyst Specialist 57,199 64,349 75,074 60,774 78,649 71,499 62,919 85,799 77,219 Credit Analyst Specialist, Sr. 76,265 85,799 100,098 81,032 104,865 95,332 83,892 114,398 102,958 Credit Analyst Manager 85,692 96,403 112,470 91,047 117,826 107,114 94,261 128,537 115,684 Director of Operations 103,147 116,040 135,380 109,594 141,827 128,934 113,462 154,720 139,248 Financial Planning Specialist 62,057 69,814 81,449 65,935 85,328 77,571 68,262 93,085 83,776 Financial Planning Specialist, Sr. 84,893 95,505 111,423 90,199 116,728 106,117 93,383 127,340 114,606 Financial Planning Manager 104,255 117,287 136,835 110,771 143,351 130,319 114,681 156,383 140,744 BANKING FINANCIAL SERVICES 10 accountingprincipals.com/salaryguide For instance, compliance with the Dodd-Frank Act requires a talented workforce in order to maintain regulatory compliance. Employees with expertise in specialized areas, including financial analysts, forensic researchers and regulatory analysts, will be in demand. The BLS projects: EMPLOYMENT FOR FINANCIAL EXAMINERS WILL GROW BY 10% BETWEEN 2014 2024 As the economy surges, so does the need for commercial and mortgage lending. An increased demand for loans, coupled with increased regulatory compliance, means a more labor intensive loan approval process. The BLS anticipates: EMPLOYMENT FOR LOAN OFFICERS WILL GROW BY 8% BETWEEN 2014 2024 The competition for “star talent” is no longer only within financial services. In the long run, banking jobs will center on tech. According to “Millennial Disruption,” a 2015 study by Viacom Media, 73% of Millennials would rather handle their financial service needs with Google, Amazon, Apple, PayPal or Square, instead of a nationwide bank. Updating technology and satisfying demands of better- informed and less loyal customers means banks need to prioritize hiring technologically-savvy talent.The challenge is competing for talent against the tech industry’s aggressive pay policies for junior staff. In an interview with Business Reporter, Alice Leguay, co-founder and CEO of Emolument, said tech companies are outpacing traditional financial and professional service firms when it comes to on-campus recruiting. “Working for a top investment bank no longer epitomizes the graduate dream, especially since financial industry remuneration has taken a bashing in the last few years.” In Bloomberg, Jennifer Surane writes that in 2007, about 13% of Harvard MBA graduates went into investment banking or trading. By 2015, that number fell to just 4%. MBA graduates from the top-tier business schools are being lured away from banking by Facebook, Google, Apple, Amazon and tech startups. THE BANKING INDUSTRY IS IN THE MIDDLE OF SEVERAL MAJOR SHIFTS THAT WILL AFFECT EMPLOYMENT
13 2017 Salary Guide 2017 Salary Guide 12 accountingprincipals.com/salaryguide Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE BANKING FINANCIAL SERVICES continued Fund Operations Specialist 42,551 47,870 51,144 45,211 58,508 53,189 46,806 63,827 57,444 Fund Operations Specialist, Sr. 46,296 52,083 55,239 49,189 63,657 57,870 50,925 69,444 62,499 Fund Manager 68,981 77,603 82,306 73,292 94,848 86,226 75,879 103,471 93,124 Hedge Fund Accountant 54,912 61,775 72,071 58,343 75,503 68,639 60,403 82,367 74,131 Hedge Fund Accountant, Sr. 59,854 67,335 78,558 63,594 82,299 74,817 65,839 89,780 80,802 Hedge Fund Accountant Manager 76,569 86,140 91,356 81,354 105,282 95,711 84,225 114,853 103,368 Managing Director, Buy Side 184,680 207,765 242,393 196,223 253,935 230,850 203,148 277,020 249,318 Managing Director, Sell Side 184,680 207,765 242,393 196,223 253,935 230,850 203,148 277,020 249,318 Market Risk Analyst 70,918 79,783 93,080 75,350 97,512 88,647 78,010 106,377 95,739 Mortgage Collector 35,342 36,617 38,354 27,234 43,102 35,480 28,879 43,861 37,023 Mortgage Collector, Sr. 45,366 47,043 49,073 33,233 64,390 45,312 40,633 65,499 48,536 Mortgage Collection Manager 77,358 79,424 83,903 49,259 100,306 77,522 50,993 111,830 80,308 Mortgage Loan Closer 42,768 47,579 50,666 32,033 52,432 43,293 33,847 61,296 45,035 Mortgage Loan Originator 145,601 147,440 148,446 88,455 247,461 145,857 104,422 254,564 147,162 Mortgage Loan Processor 35,416 37,374 38,355 26,131 46,218 36,340 28,107 48,522 37,462 Mortgage Loan Processor, Sr. 45,805 47,501 49,772 37,351 54,457 46,752 38,397 56,503 48,199 Mortgage Loan Processing Manager 82,492 85,034 88,812 61,855 104,996 83,445 74,709 138,909 97,946 Mortgage Loan Servicing Clerk 29,312 30,855 32,388 22,060 37,802 31,256 22,791 39,464 32,201 Mortgage Loan Servicing Clerk, Sr. 35,150 37,135 38,625 27,564 48,234 36,403 28,304 50,321 37,704 Mortgage Loan Servicing Manager 87,711 90,421 95,622 53,783 122,984 84,212 55,097 135,521 89,470 Mortgage Underwriter 58,960 61,361 63,717 38,127 65,422 48,471 38,816 69,681 50,342 Mortgage Underwriter, Sr. 70,696 73,210 75,797 56,036 84,633 69,377 57,905 87,817 72,301 Mutual Fund Accountant 63,120 71,009 82,844 67,064 86,789 78,899 69,431 94,679 85,211 Mutual Fund Accountant, Sr. 70,063 78,821 91,957 74,442 96,336 87,578 77,069 105,094 94,585 Mutual Fund Accountant Manager 83,949 94,443 110,183 89,196 115,430 104,936 92,344 125,923 113,331 Operations Manager 82,518 92,832 108,304 87,675 113,462 103,147 90,769 123,776 111,399 Performance Analyst 66,609 74,935 87,424 70,772 91,587 83,261 73,270 99,913 89,922 Portfolio Manager 77,541 82,408 98,239 61,506 106,135 83,360 64,090 117,039 88,727 Pricing Analyst 56,762 59,691 61,522 39,933 72,425 57,927 44,551 90,303 65,584 Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE BANKING FINANCIAL SERVICES continued Private Banker 61,035 64,184 66,152 42,939 77,877 62,287 47,904 97,100 70,520 Private Banker, Sr. 105,562 107,330 110,357 77,299 144,283 105,584 87,054 179,555 121,318 Private Banker Manager 125,619 127,723 131,324 91,986 171,697 125,645 103,594 213,671 144,369 Private Equity Accountant 55,461 62,393 72,792 58,927 76,258 69,326 61,007 83,191 74,872 Private Equity Accountant, Sr. 60,452 68,009 79,343 64,230 83,122 75,565 66,497 90,678 81,610 Private Equity Accountant Manager 77,334 87,001 92,738 82,168 106,335 96,668 85,068 116,001 104,401 Product Control Specialist 64,956 73,076 85,255 69,016 89,315 81,196 71,452 97,435 87,691 Product Control Specialist, Sr. 67,490 75,926 88,580 71,708 92,798 84,362 74,239 101,235 91,111 Product Control Manager 75,589 85,037 99,210 80,313 103,934 94,486 83,147 113,383 102,045 Regulatory Reporting Specialist 68,074 76,584 89,348 72,329 93,602 85,093 74,882 102,112 91,900 Regulatory Reporting Specialist, Sr. 70,729 79,570 92,832 75,150 97,253 88,412 77,802 106,094 95,485 Regulatory Reporting Manager 79,217 89,119 103,972 84,168 108,923 99,021 87,138 118,825 106,943 Teller 24,575 27,647 32,254 26,111 33,790 30,718 27,032 36,862 33,176 Vice President, Buy Side 256,521 288,586 336,683 272,553 352,716 320,651 282,173 384,781 346,303 Vice President, Sell Side 256,521 288,586 336,683 272,553 352,716 320,651 282,173 384,781 346,303 Wholesaler 48,828 51,347 52,922 34,351 62,301 49,830 38,323 77,680 56,416 FOR MORE DETAILS ON DEFINING SALARIES UNDERSTANDING TRENDS IN THE JOB MARKET, CONTACT YOUR LOCAL ACCOUNTING PRINCIPALS REPRESENTATIVE. All salaries are in US$
14 accountingprincipals.com/salaryguide 15 2017 Salary Guide 2017 Salary Guide Assistant Controller Heads preparation, in an assistant role, or develops reports that summarize and forecast company business activity and financial position. Requires a bachelor’s degree in area of specialty with at least 10 years of experience in the field or related area. Leads and directs the work of others. Assistant Treasurer Assists the Treasurer with the receipt, disbursement, banking, protection and custody of funds, securities, and financial instruments. Requires a bachelor’s degree in area of specialty with at least 10 years of experience in the field or related area. Leads and directs the work of others. Billing Clerk Responsible for compiling monies owed by the company to vendors, suppliers, or other organizations/individuals. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Billing Specialist Responsible for preparation of bills and invoices, calculation of sales tickets and charge slips, and verification of billing with accounts receivable ledger. Requires a bachelor’s degree in area of specialty and 2-4 years of experience in the field or in a related area. Billing Specialist, Sr. Responsible for preparation of bills and invoices, the calculation of sales tickets and charge slips, and verification of billing with accounts receivable ledger. Requires a bachelor’s degree in area of specialty and 4-6 years of experience in the field or in a related area. Billing Supervisor Coordinates and analyzes customer billing and accounts receivable management. May require a bachelor’s degree in area of specialty. Performs invoice preparation, audits and edits pre-bills, and performs write-offs when approved by management. Billing Manager Coordinates and analyzes customer billing and accounts receivable management and may supervise Billing Clerks. May require a bachelor’s degree in area of specialty plus at least 3 years of experience in the field or in a related field. Bookkeeper Keeps books and accounting records of financial transactions for an establishment. May require an associate’s degree or its equivalent with 2-4 years of experience in the field or in a related area. Budget Analyst Analyzes, advises, and provides technical assistance in preparing budgets while seeking new ways to lower costs and increase efficiency. Requires a bachelor’s degree and 0-2 years of experience in the field or in a related area. Budget Analyst, Sr. Reviews proposed financial plans, including budgets, for completeness, accuracy, conformance with established procedures, regulations, and organizational objectives. Requires a bachelor’s degree and 4-6 years of experience in the field or in a related area. Budget Manager Manages activities of personnel responsible for formulation and presentation of budgets for controlling funds to implement program objectives of an organization. Requires a bachelor’s degree and 5-7 years of experience in the field or in a related area. Cash Applications Clerk Provides support and service for the cash management needs of business banking clients, ensuring client retention and customer satisfaction. Requires a bachelor’s degree in area of specialty and 3-5 years of experience in the field or in a related area. Chief Financial Officer Directs and coordinates company’s financial affairs according to financial principles and government regulations, and establishes major economic objectives and policies for the company. Requires a bachelor’s degree and at least 15 years of direct experience in the field. Collections Specialist Performs routine administrative tasks to support the collections group including distributing documents, responding to customer needs, entering data and other clerical duties as required. Requires a high school diploma or its equivalent and 2-4 years of related experience in the field or in a related area. Collections Specialist, Sr. Performs routine administrative tasks to support the collections group including distributing documents, responding to customer needs, entering data and other clerical duties as required. Requires a high school diploma or its equivalent and 4-6 years of related experience in the field or in a related area. Controller Directs and plans the preparation of reports that summarize and forecast company business activity and financial position in areas of income, expenses and earnings, based on past, present and expected operations. Requires a bachelor’s degree and at least 15 years of direct experience in the field. Cost Accountant Provides detailed cost information and data analysis not supplied by general accounting systems by applying principles of cost accounting. May require a bachelor’s degree and 0-2 years of experience in the field or in a related area. ACCOUNTING FINANCE Accountant Readies and maintains financial and business transactions, applying accounting principles, that include work that is analytical, evaluative, and advisory in nature and that requires an understanding of both accounting theory and practice. May require a bachelor’s degree in area of specialty and 0-2 years of experience in the field or in a related area. Accountant, Sr. Readies and maintains financial and business transactions, applying accounting principles, that include work that is analytical, evaluative, and advisory in nature and that requires an understanding of both accounting theory and practice. Requires a bachelor’s degree in area of specialty, and 4-6 years of experience in the field or in a related area. May lead and direct the work of others. Accounting Clerk Prepares and keeps financial and business transactions data up to date, and prepares reports to ensure accurate accounting records. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Accounting Supervisor Supervises and trains less complex day-to-day general accounting functions and accounting operations which include coding invoices and compiling data for various accounting reports. Leads most day-to-day operations of group. May require a bachelor’s degree in area of specialty. Accounting Manager Manages professional level accounting functions and the preparation of reports including earnings, profits/losses, cash balances, and cost accounting. Requires a bachelor’s degree in area of specialty and at least 7 years of experience in the field or in a related area. Accounting Director Directs, coordinates, and administers accounting operations which may include general accounting, cost accounting, payroll, accounts payable, and accounts receivable. Requires a bachelor’s degree in area of specialty with at least 10 years of experience in the field or in a related area. Accounts Payable Clerk Supervises and coordinates accounts payable activities, including processing and payment of invoices and proper filing and storage of records. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Accounts Payable Specialist Calculates, posts business transactions, processes invoices, verifies financial data for use in maintaining accounts payable records, and provides other clerical support necessary to pay the obligations of the organization. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Accounts Payable Specialist, Sr. Supervises and coordinates accounts payable activities of processing and payment of invoices in a timely fashion, proper matching of purchasing and receiving documents, correct distribution to general ledger expense accounts, timely and accurate payments and proper filing and storage of records. Requires a high school diploma or its equivalent with 2-4 years of experience in the field or in a related area. Accounts Payable Supervisor Supervises and coordinates accounts payable activities, processing payments and reconciliation of general ledger accounts. May require a bachelor’s degree in area of specialty. Leads and directs the work of others. Accounts Payable Manager Manages and coordinates activities required to ensure an accurate accounts payable system. May require a bachelor’s degree in a related area and at least 7 years of experience in the field. Accounts Receivable Clerk Oversees and coordinates accounts receivable activities including accuracy and corrections to customer accounts and reconciliation of revenue accounts. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Accounts Receivable Specialist Prepares customer statements, bills and invoices. Reconciles expenses to the general ledger and other clerical tasks related to maintaining the accounts receivable records for an organization. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Accounts Receivable Specialist, Sr. Coordinates and keeps records of accounts receivable activities, ensuring an accurate accounts receivable system. Develops work schedules, assigns duties, and reviews work for accuracy, neatness, and conformance to policies. Requires a high school diploma or its equivalent with 2-4 years of experience in the field or in a related area. Accounts Receivable Supervisor Supervises and coordinates accounts receivable activities, ensuring an accurate accounts receivable system. May require a bachelor’s degree in area of specialty. Accounts Receivable Manager Manages and coordinates activities required to ensure an accurate accounts receivable system. May require a bachelor’s degree in area of specialty and at least 7 years of experience in the field or in a related area.
16 accountingprincipals.com/salaryguide 17 2017 Salary Guide 2017 Salary Guide Internal Audit Manager Conducts reviews to identify financial and business risks and assesses compliance with regulations. Contributes to the development of strategies and procedures for carrying out internal audits. Evaluates internal controls to identify areas needing improvement. Assists in the coordination and implementation of internal audits. Reports audit results in writing and in presentations. Undergraduate degree in accounting or finance, 4-6 years of experience required. Internal Audit Director Enforces compliance with company policies for risk assessment and financial controls. Conducts reviews to identify financial and business risks, and implements appropriate controls. Develops strategies and procedures for carrying out internal audits. Oversees external audits, organizing paperwork and making sure audits are finished on schedule. A bachelor’s degree in accounting, finance, information technology or a related field is required, and at least 10 years of accounting experience. Internal Audit Vice President Trains and manages the internal auditing staff and conducts evaluations. Designs methods to assess and mitigate business risks. Conducts internal audits, determines the objectives of audits, and tracks audit results. Proposes methods to improve processes and problem areas identified by audits. Requires over 15 years of extensive related experience, and at least a bachelor’s degree in a related field. Payroll Clerk Processes organization’s payroll and compiles payroll data to maintain accurate payroll records, balancing payroll runs, producing federal, state and local tax payments. Requires a high school diploma or its equivalent with 0-3 years of experience in the field or in a related area. Payroll Specialist Inputs data from time sheets, production records, or individual time cards to computerized payroll system. Requires a high school diploma or its equivalent with 0-3 years of experience in the field or in a related area. Payroll Specialist, Sr. Processes employee status changes, processes and analyzes payroll and employee expenses, reconciles general ledger accounts, creates ongoing month- end, quarterly, and year-end organizational reports, generating accurate reports and performs other duties as assigned. Requires a high school diploma or its equivalent with 2-5 years of experience in the field or in a related area. Payroll Supervisor Supervises and coordinates activities of payroll workers, including recording hours of work, processing time records, compiling payroll statistics, maintaining payroll control records, and calculating payrolls. May require a bachelor’s degree in area of specialty. Payroll Manager Manages and coordinates activities of staff and payroll systems at one or more locations. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field and manages payroll staff. Staff Accountant Assists senior accountants in the research and preparation for audits, projects and taxes. Typically has 1-3 years of experience. Staff Accountant, Sr. Responsible for completing audits, tax preparation and filing of forms. Typically has more than 3 years of experience. Directs lower tier staff on specific projects. Tax Accountant Prepares federal, state, or local tax returns for individuals, business establishments, or other organizations. May require a bachelor’s degree and 0-2 years of experience in the field or in a related area. Tax Accountant, Sr. Prepares federal, state, or local tax returns for individuals, business establishments, or other organizations. Requires a bachelor’s degree and 4-6 years of experience in the field or in a related area. Tax Manager Manages department responsible for preparation of state, federal, and local tax returns. Manages the tax accounting staff and requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Leads and directs the work of others. Tax Director Directs activities of department and personnel responsible for ensuring that tax reports have been properly prepared and filed. Requires a bachelor’s degree with at least 10 years of experience in the field. Treasurer Directs and coordinates the organization’s treasury activities including receipt, disbursement, banking, protection and custody and investment of funds, securities, and financial instruments. Requires a bachelor’s degree and at least 15 years of direct experience in the field. Treasury Analyst Reviews and analyzes all operational cash flows for the organization and advises management on investments and loans for short- and long-range financial plans. May require a bachelor’s degree in area of specialty and 0-2 years of experience in the field or in a related area. Treasury Analyst, Sr. Reviews and analyzes all operational cash flows for the organization. Determines procurement of funds and monitors investments and collections. May lead and direct the work of others. May require a bachelor’s degree and 5-8 years of experience in the field or in a related area. Cost Accountant, Sr. Provides detailed cost information and data analysis not supplied by general accounting systems by applying principles of cost accounting. Requires a bachelor’s degree and 4-6 years of experience in the field or in a related area. Cost Accounting Manager Manages and oversees professional cost accounting activities including implementing cost control procedures, providing staff supervision over cost systems and methods, and managing the compilation of periodic statements of product cost. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Credit Collections Clerk Interviews credit applicant to obtain financial and personal data for credit report. Contacts former employers and other acquaintances to verify references and employment, and investigates credit risk in customers and suppliers. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Credit Collections Manager Develops and administers credit and collection programs and oversees investigation of credit risk in customers and suppliers and monitors the collection of amounts due to the organization. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Manages a credit and collection staff. Credit Analyst Assesses credit information to deter- mine risk involved in lending money to customers, and prepares report of findings. May require a bachelor’s degree and 0-2 years of experience in the field or in a related area. Credit Analyst, Sr. Assesses credit information to deter- mine risk involved in lending money to customers, and prepares report of findings. Requires a bachelor’s degree and at least 5 years of experience in the field or in a related area. Finance Manager Offers finance and insurance options to clients through established relationships with lenders/providers. May require a bachelor’s degree in area of specialty and at least 5 years of experience in the field or in a related area. Leads and directs the work of others. Finance Director Directs and aids in financial analysis, evaluation, and report generation activities of current and proposed financial plans. Typically requires an advanced degree with at least 10 years of experience in the field. Financial Analyst Analyzes past and present financial data of an organization and estimates future revenues and expenditures. Requires a bachelor’s degree and 0-2 years of experience in the field or in a related area. Financial Analyst, Sr. Analyzes past and present financial data of an organization and estimates future revenues and expenditures. Requires a bachelor’s degree and 4-7 years of experience in the field or in a related area. Financial Analysis Manager Manages conduct of statistical analyses of information affecting financial and accounting programs of public, industrial, and/or financial organizations through subordinate financial analysis staff. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Financial Reporting Accountant Manages all Securities and Exchange Commission (SEC) external reporting requirements, including preparation and filing of Form 10-K, 10-Q, Form 8-K, Proxy Statement, and other periodic governmental reports. Requires a bachelor’s degree in area of specialty and 0-2 years of experience in the field or in a related area. Financial Reporting Accountant, Sr. Oversees all Securities and Exchange Commission (SEC) external reporting requirements, including preparation and filing of Form 10-K, 10-Q, Form 8-K, Proxy Statement, and other periodic governmental reports. Requires a bachelor’s degree in area of specialty and 4-6 years of experience in the field or in a related area. May lead and direct the work of others. Financial Reporting Manager Manages all Securities and Exchange Commission (SEC) external reporting requirements, including preparation and filing of Form 10-K, 10-Q, Form 8-K, Proxy Statement, and other periodic governmental reports. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field and manages the financial reporting staff. Financial Reporting Director Directs and oversees the preparation and distribution of financial statements for external use and ensures that all documentation complies with company’s regulations, professional standards, and SEC and GAAP reporting guidelines. Requires a bachelor’s degree in a related area and at least 10 years of experience in the field. Internal Auditor Reviews and determines effectiveness of controls, accuracy of financial records, and efficiency of operations for management in an organization. Requires a bachelor’s degree in accounting and 0-2 years of experience in the field or in a related area. Internal Auditor, Sr. Reviews and determines effectiveness of controls, accuracy of financial records, and efficiency of operations for management in an organization. Requires a bachelor’s degree in accounting and 4-6 years of experience in the field or in a related area. May lead and direct the work of others.
18 accountingprincipals.com/salaryguide 19 2017 Salary Guide 2017 Salary Guide BANKING FINANCIAL SERVICES Analyst, Buy Side Assists with preparation of weekly, monthly and quarterly financial analysis schedules of actual versus budget variances. Prepares detailed annual financial budget and monthly financial forecasts. Provides financial analysis support to various areas of the company. Bachelor’s degree in finance, business or a related field, and both practical experience and a proven track record of success within this field. Associate, Buy Side Identifies and advises on new invest- ment opportunities for the company. Assists in determining and negotiating the financial aspects of mergers and acquisitions. Collects and analyzes data to assist in corporate financial decisions. Ensures compliance with standard practices and protocols within the industry. A bachelor’s degree in accounting, economics, finance, or a related field is required for this position. Analyst, Sell Side Assists with preparation of weekly, monthly and quarterly financial analysis schedules of actual versus budget variances. Prepares detailed annual financial budget and monthly financial forecasts. Provides financial analysis support to various areas of the company. Bachelor’s degree in finance, business or a related field, and both practical experience and a proven track record of success within this field. Associate, Sell Side Identifies and advises on new invest- ment opportunities for the company. Assists in determining and negotiating the financial aspects of mergers and acquisitions. Collects and analyzes data to assist in corporate financial decisions. Ensures compliance with standard practices and protocols within the industry. A bachelor’s degree in accounting, economics, finance, or a related field is required for this position. Banking Operations Specialist Works in operations department for a financial institution. Ensures efficient delivery of products and services to clients. Assists manager to create polices and procedures. Requires a bachelor’s degree or its equivalent with 0-2 years experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on experience and judgment to plan and accomplish goals. Typically reports to a manager. Banking Operations Specialist, Sr. Works in operations department for a financial institution. Ensures efficient delivery of products and services to clients. Assists manager to create polices and procedures. Requires a bachelor’s degree or its equivalent with 3-5 years experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on experience and judgment to plan and accomplish goals. Typically reports to a manager. Banking Operations Specialist Manager Manages and directs the operations department for a financial institution. Ensures efficient delivery of products and services to clients. Develops and implements polices and procedures. Requires a bachelor’s degree or its equivalent with at least 8 years experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on experience and judgment to plan and accomplish goals. May lead and direct the work of others. Typically reports to a senior manager. Business Development Officer Sells commercial loan services to prospective clients. Responsible for the initial relationship with prospects and works with loan relationship manager to close selling process. Requires a bachelor’s degree in area of specialty and 3-5 years of experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on experience and judgment to plan and accomplish goals. A wide degree of creativity and latitude is expected. Typically reports to a manager or head of a unit/department. Client Service Representative Processes basic branch service trans- actions to ensure customer satisfaction. Requires a high school diploma or equivalent and 0-3 years of experience in the field or in a related area. Has knowledge of commonly-used concepts, practices, and procedures within a particular field. Relies on instructions and pre-established guidelines to perform the functions of the job. Works under immediate supervision. Client Service Representative, Sr. Processes basic branch service trans- actions to ensure customer satisfaction. Researches and resolves account issues or customer inquiries. Promotes organizational products and services by referring current or prospective customers to other departments within the organization. Requires a high school diploma or equivalent and 3-5 years of experience in the field or in a related area. Typically reports to a manager or head of a unit/department. Client Service Representative Manager Ensures customers or clients receive assistance in a helpful, efficient manner. Develops a training program that includes group training on-demand. Manages and supervises the client services unit. Develops, tracks and reports key performance measurements for the unit. Manages the assignment of work to team members while maintaining an appropriate load balance. Requires a bachelor’s degree and 5 years of relevant experience. Commercial Lending Specialist Create sales and growth for the company by granting loans to large commercial entities. The lender will offer products and services to various companies. The lender may work with current clients, follow leads, and carry out research in order to obtain new clients. The lender will meet with clients, present products, explain the loan process, and obtain the documentation necessary. The lender will also make determinations in order to decide whether a client should be granted a loan. Bachelor’s degree in banking, finance, or accounting preferred, with 2-4 years of prior experience in a lending position preferred. PUBLIC ACCOUNTING Audit/Assurance Services, Associate Helps with various complex auditing projects, not including information systems auditing. Ensures standard auditing practices are followed. Requires a bachelor’s degree with at least 3 years of experience in the field. Familiar with a variety of the field’s concepts, practices and procedures. Relies on experience and judgment to plan and accomplish goals. A wide degree of creativity and latitude is expected. Typically reports to a senior associate or manager. Audit/Assurance Services, Sr. Associate Leads a group of auditors in various complex auditing projects, not including information systems auditing. Provides oversight and guidance for auditors and may be responsible for training staff. Ensures standard auditing practices are followed. Requires a bachelor’s degree with at least 7 years of experience in the field. Familiar with a variety of the field’s concepts, practices and procedures. Relies on experience and judgment to plan and accomplish goals. Leads and directs the work of others. A wide degree of creativity and latitude is expected. Typically reports to a head of a unit/ department. Audit/Assurance Services, Manager Oversees the auditing of accounting and financial data of various departments within an organization. Assists in the design and administration of audit policy and procedure within the organization. May require a bachelor’s degree in area of specialty and at least 8 years of experience. Familiar with a variety of the field’s concepts, practices and procedures. Relies on extensive experience and judgment to plan and accomplish goals. Leads and directs the work of others. A wide degree of creativity and latitude is expected. Typically reports to top management. Audit/Assurance Services, Sr. Manager Directs the auditing of accounting and financial data of various departments within an organization. Designs, develops and implements internal auditing policy and procedures within the organization. Ensures accuracy and compliance with government guidelines and laws. Identifies improper accounting or documentation and makes recommendations for improve- ment to top management. May require a bachelor’s degree in area of specialty and at least 10 years of experience. Familiar with a variety of the field’s concepts, practices and procedures. Relies on extensive experience and judgment to plan and accomplish goals. Typically reports to top management. Tax Services, Associate Ensures compliance to timelines, infor- mation requests and legal requirements. Researches and explains tax information, needs and paperwork, offering advice. Uses software to enter data and file taxes for clients. Collects, validates and returns tax documents. Requires bachelor’s degree in accounting or finance, master’s degree in a relevant field preferred. Status as a Certified Public Accountant (CPA) may be required. Tax Services, Sr. Associate Ensures compliance to timelines, infor- mation requests and legal requirements. Researches and explains tax information, needs and paperwork, offering advice. Uses software to enter data and file taxes for clients. Collects, validates and returns tax documents. Requires bachelor’s degree in accounting or finance, master’s degree in a relevant field preferred. Status as a Certified Public Accountant (CPA) may be required. Tax Services, Manager Responsible for managing the tax reporting, tax planning, and compliance function. Oversees the completion of accurate tax returns in order to minimize the tax obligations of an organization. Must be familiar with regulations at the federal, state and local level. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Relies on experience and judgment to plan and accomplish goals. Manages the tax accounting staff and typically reports to top management. Tax Services, Sr. Manager Directs and oversees an organization’s tax policies and objectives. Monitors reporting and planning to ensure compliance with applicable tax statutes. Ensures accuracy of tax returns and works to minimize the organization’s tax obligations. Requires a bachelor’s degree with 7-10 years of experience in the field. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals. Leads and directs the work of others. A wide degree of creativity and latitude is expected. Typically reports to top management. Partner A chief executive of the firm or office. Recruits new clients and is ultimately responsible for accuracy of all audits, tax forms, and reports. Acts as the highest executive of the accounting firm to direct and determine the final decision on all its projects and activities. Status as a Certified Public Accountant (CPA) may be required. At least a bachelor’s degree in accounting or a related field is needed.
20 accountingprincipals.com/salaryguide 21 2017 Salary Guide 2017 Salary Guide Credit Analyst Specialist, Sr. Reviews credit data to evaluate com- mercial loan requests in order to approve or deny applications. Analyzes sources of financial information, such as reporting services, credit bureaus, other companies, main office files, and branches to deter- mine profitability of loan. Requires a bachelor’s degree in area of specialty and at least 5 years of experience in the field or in a related area. Credit Analyst Manager Ensures that approved accounts remain in good standing. Establishes terms for approved credit requests and assesses credit risk. Prepares reports with this credit information for use in decision-making. Analyzes current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Director of Operations Directs all duties and functions of departments for a financial institution. Plans and accomplishes business objectives. Establishes standards for work-related policies and procedures. Requires a bachelor’s degree in area of specialty and at least 10 years of experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals. Leads and directs the work of others. A wide degree of creativity and latitude is expected. Typically reports to top management. Financial Planning Specialist Compiles and analyzes financial infor- mation for an organization. Develops integrated revenue/expense analyses, projections, reports and presentations. Creates and analyzes monthly, quarterly and annual reports and ensures financial information has been recorded accurately. Identifies trends and developments in competitive environments and presents findings to senior management. Performs financial forecasting and reconciliation of internal accounts. Requires a bachelor’s degree and 0-2 years of experience in the field or in a related area. Financial Planning Specialist, Sr. Compiles and analyzes financial infor- mation for an organization. Develops integrated revenue/expense analyses, projections, reports, and presentations. Creates and analyzes monthly, quarterly, and annual reports and ensures financial information has been recorded accurately. Identifies trends and developments in competitive environments and presents findings to senior management. Performs financial forecasting and reconciliation of internal accounts. Requires a bachelor’s degree in accounting or finance and may be expected to have an advanced degree in a related area with 4-5 years of related experience. Financial Planning Manager Responsible for managing financial analysis projects and statistical studies. Projects may include evaluation of potential investments and divestitures as well as general economic outlooks. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Familiar with a variety of the field’s concepts, practices, and procedures. A wide degree of creativity and latitude is expected. Relies on experience and judgment to plan and accomplish goals. Manages financial analyst staff and typically reports to top management. Fund Operations Specialist Monitors for problems, taking immediate action where possible and escalating when required. Helps work out the investment strategy that informs the fund’s day-to-day portfolio decisions. Interacts with clients, resolve problems, and provide information. Provides technical assistance to clients and staff. Bachelor’s degree and 0-2 years of experience required. Fund Operations Specialist, Sr. Monitors for problems, taking immediate action where possible and escalating when required. Plans out the investment strategy along with manager that informs the fund’s day-to-day portfolio decisions. Interacts with clients, resolves problems, and provides information. Performs, organizes and streamlines operational tasks to reduce the potential for errors. Provides technical assistance to clients and staff. Bachelor’s degree and 3-5 years of experience required. Fund Manager Helps work out the original investment strategy that informs the fund’s day- to-day portfolio decisions. Publicizes the fund, usually based on the proven experience and track record of the hedge fund manager or financial institution he or she works for. Communicates frequently with investors and provides constant updates to fund future growth strategies. Requires advanced, post-graduate business degrees as a foundation for their careers. Hedge Fund Accountant Utilizes accounting principles to differ- entiate special purpose funds from a general fund. Maintains records of stewardship of financial resources received and expended and other financial activities. Analyzes financial data in order to prepare financial reports in compliance with applicable regulations. Requires bachelor’s or master’s degree in accounting, business administration, or a similar field, CPA preferred. Hedge Fund Accountant, Sr. Collaborates with auditors. Estimates profits and losses, reconciles cash, and calculates payments. Prepares and maintains investment books, creating regular reports. Reviews, edits and corrects reports and analyses. Requires 3-5 years of knowledge in the field and experience with financial reporting. Commercial Lending Specialist, Sr. Responsible for soliciting and servicing a variety of commercial loans. Interviews applicants and recommends approval of customer applications for commercial loans. Analyzes applicant financial status and credit to determine feasibility of granting loan. Approves loan within established limits or refers loan to loan committee for approval. Verifies loan agreements are complete and accurate according to policy. Requires a bachelor’s degree in area of specialty and 4-6 years of experience in the field or in a related area. Commercial Lending Manager Manages a team of commercial loan officers. Responsible for soliciting and servicing a variety of commercial loans. Requires a bachelor’s degree in area of specialty and at least 8 years of experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on experience and judgment to plan and accomplish goals. A wide degree of creativity and latitude is expected. Typically reports to a manager or head of a unit/department. Commodities Analyst Specialist Analyzes inventory levels, production speed, and product demand to deter- mine the amount of finished product that will be produced. Determines the best metrics to use to provide the most accurate representation of the forecast. Works with other departments to determine optimal inventory levels. May require a bachelor’s degree with 2-4 years of experience in the field or in a related area. Commodities Analyst Specialist, Sr. Researches and monitors target companies and investment channels while applying the appropriate strategies for futures, commodities, and trading. Evaluates market movements and communicates their importance with clients and coworkers. Derives optimal transaction prices for clients and executes accordingly. Creates, maintains and expands relationships with suppliers and clients. A bachelor’s degree in finance, economics or a related field is typically the minimum educational requirement for this position. Commodities Analyst Manager Develops, implements and maintains a commodity inventory strategy that supports a company’s supply chain. Evaluates market conditions in order to maintain inventory levels and control costs. Evaluates and recommends vendors. Manages ongoing relationships with suppliers. Requires a bachelor’s degree in area of specialty and at least 7 years of experience in the field or in a related area. Compliance Specialist Oversees and coordinates the devel- opment, maintenance, implementation, and revision of policies and procedures and other documents for the operation of the organization’s compliance program. Requires a bachelor’s degree in area of specialty and 0-2 years of experience in the field or in a related area. Compliance Specialist, Sr. Oversees and coordinates the devel- opment, maintenance, implementation and revision of policies and procedures and other documents for the operation of the organization’s compliance program. Requires a bachelor’s degree in an area of specialty and at least 4 years of experience in the field or in a related area. May lead and direct the work of others. Compliance Manager Oversees and coordinates the devel- opment, maintenance, implementation, and revision of policies and procedures and other documents for the operation of the organization’s compliance program. Prepares compliance reports to present to management. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Leads and directs the work of others. Consumer Loan Collector Receives installments on past due accounts, damage claims, or non-payable checks from customers. Requires a high school diploma or its equivalent and 0-2 years of related experience. Consumer Loan Collector, Sr. Receives installments on past due accounts, damage claims, or non-payable checks from customers. Requires a high school diploma or its equivalent and at least 5 years of related experience. Consumer Loan Collection Manager Manages and coordinates activities of workers engaged in conducting credit investigations and collecting delinquent accounts of customers of commercial establishments, department stores, banks or similar establishments. Requires a bachelor’s degree with at least 10 years of experience in the field. Consumer Loan Processor Performs clerical and administrative support activities related to obtaining loans for borrowers. Requires a high school diploma or its equivalent and 0-2 years of related experience. Consumer Loan Processor, Sr. Performs clerical and administrative support activities related to obtaining loans for borrowers. Requires a high school diploma or its equivalent and at least 3 years of related experience. Consumer Loan Processing Manager Manages consumer loan department of a financial institution providing services including vehicle loans, personal or unsecured lines of credit, home improvement and home equity loans, student loans, credit cards, etc. May require a bachelor’s degree and at least 5 years of experience in the field or in a related area. Credit Analyst Specialist Reviews credit data to evaluate commercial loan requests in order to approve or deny applications. Analyzes sources of financial information, such as reporting services, credit bureaus, other companies, main office files, and branches to determine profitability of loan. Requires a bachelor’s degree in area of specialty and 0-2 years of experience in the field or in a related area.
22 accountingprincipals.com/salaryguide 23 2017 Salary Guide 2017 Salary Guide Mutual Fund Accountant, Sr. Collaborates with auditors. Estimates profits and losses, reconciles cash, and calculates payments. Prepares and maintains investment books, creating regular reports. Reviews, edits and corrects reports and analyses. Requires 3-5 years of knowledge in the field and experience with financial reporting. Mutual Fund Accountant Manager Ensures work complies with both company and government regulations. Performs account reconciliation and reviews accounting records, identifies discrepancies, and determines their cause. Prepares and reviews financial reports and statements detailing the status of funds. Supervises the work of accounting department staff. Operations Manager Monitors and manages operational costs. Makes personnel decisions regarding hiring, compensation, promo- tions, discipline and termination of operational support staff in accordance with company policies. Manages the day-to-day company or department operations. Bachelor’s degree in management, business, finance, marketing or another relevant field required; master’s degree, especially an MBA, is a plus. Performance Analyst Collaborates with company adminis- tration to develop improvement plans. Identifies improvement opportunities for processes and performance and implements strategies. Examines company processes for errors, mistakes in decision-making, inefficiency, and other factors that contribute to negative performance. Runs training programs for staff to streamline processes. Portfolio Manager Analyzes daily investment activities (domestic and international) to ensure the success of portfolios. Requires a bachelor’s degree and 3-5 years of related experience and may require NASD series 6, 7, and 63 licenses. Pricing Analyst Estimates merchandise overhead and develops ways to reduce costs. Analyzes historical cost data in order to provide more accurate cost estimates. Communicates pricing information to associates. May require a bachelor’s degree in area of specialty and 2-4 years of experience in the field or in a related area. Familiar with standard concepts, practices, and procedures within a particular field. Relies on experience and judgment to plan and accomplish goals. Works under general supervision. A certain degree of creativity and latitude is required. Typically reports to a supervisor or manager. Private Banker Interacts with banking patrons to provide information and individualized customer service, including financial planning, loan processing, and other services. May require a bachelor’s degree and 0-2 years of experience in the field or in a related area. Private Banker, Sr. Interacts with banking patrons to provide information and individualized customer service, including financial planning, loan processing, and other services. May require a bachelor’s degree and at least 5 years of experi- ence in the field or in a related area. Private Banker Manager Manages a team of private banking officers who are responsible for individ- uals with high net worth. Responsibilities include overseeing maintenance of the private banking officers’ deposit and loan volume and ensuring policies and procedures are met. Acts as an advisor for complex credit decisions. May require a bachelor’s degree and at least 7 years of experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals. A wide degree of creativity and latitude is expected. Typically reports to a head of unit or department. Private Equity Accountant Assists in processing portfolio trans- actions, conducts research to identify investment opportunities and carries out due diligence analysis. Performs financial analysis on clients’ investment portfolios to determine potential returns. Presents results of analysis and portfolio decisions to clients and management. A bachelor’s degree in finance or a related field and excellent mathematics, statistics and data analysis skills. Private Equity Accountant, Sr. Collaborates with auditors. Estimates profits and losses, reconciles cash, and calculates payments. Prepares and maintains investment books, creating regular reports. Reviews, edits and corrects reports and analyses. Requires 3-5 years of knowledge in the field and experience with financial reporting. Private Equity Accountant Manager Ensures work complies with both company and government regulations. Performs account reconciliation and review accounting records, identify discrepancies and determine their cause. Prepares and reviews financial reports and statements detailing the status of funds. Supervises the work of accounting department staff. Product Control Specialist Oversees the resolution of system problems when they occur. Suggests updates in technology or equipment replacements to make production more efficient. Monitors production processes and computer programs to ensure they run reliably and accurately. A bachelor’s degree in a related field is required with 2-3 years of experience. Product Control Specialist, Sr. Maintains departmental day-to-day production activities, monitors and prioritizes workflow and schedules. Assists in supervising production staff and gives technical direction. Assists in hiring, training and reviewing perfor- mance of staff. Ensures product is in compliance with customer standards and ensures fulfillment goals. A bachelor’s degree in a related field is required with 3-5 years of experience. Hedge Fund Accountant Manager Ensures work complies with both company and government regulations. Performs account reconciliation and reviews accounting records, identifies discrepancies, and determines their cause. Prepares and reviews financial reports and statements detailing the status of funds. Supervises the work of accounting department staff. Managing Director, Buy Side Most senior leadership role within a traditional or alternative investment management firm (i.e. hedge fund or private equity firm). Individual may lead an internal function (i.e. Portfolio Management or Finance) and/or business strategy (i.e. Emerging Markets). Typically has 15 years or more of financial services industry experience and advanced degrees and/or qualifications within their chosen field. Managing Director, Sell Side Most senior leadership role within an investment banking organization or sell-side research firm. Individual will lead a broad business strategy (i.e. Credit Sales) or function within the organization, such as sales/ trading, finance, research, credit/risk, or operations. Typically has 15 years of financial/capital markets experience and advanced degrees and/or qualifications for their chosen field. Market Risk Analyst Performs risk analysis studies in order to maintain maximum protection of an organization’s assets. Investigates any incidences that may result in asset loss and compiles findings in reports for further review. Requires a bachelor’s degree and 2-4 years of experience in the field or in a related area. Familiar with standard concepts, practices, and procedures within a particular field. Relies on experience and judgment to plan and accomplish goals. Works under general supervision. Typically reports to a supervisor or manager. A certain degree of creativity and latitude is required. Mortgage Collector Receives installments on past due accounts, damage claims, or non-payable checks from customers. Requires a high school diploma or its equivalent and 0-2 years of related experience. Mortgage Collector, Sr. Receives installments on past due accounts, damage claims, or non-payable checks from customers. Requires a high school diploma or its equivalent and at least 4 years of related experience. Mortgage Collection Manager Manages and coordinates activities of workers engaged in conducting credit investigations and collecting on delinquent accounts of customers of commercial establishments, department stores, banks, or similar establishments. Requires a bachelor’s degree with at least 8 years of experience in the field. Mortgage Loan Closer Prepares papers and assembles docu- ments to close loans for borrowers. May require a bachelor’s degree in area of specialty and 2-4 years of experience in the field or in a related area. Mortgage Loan Originator Interviews loan applicants to elicit information, prepares loan request papers, verifies credit and bank references, and informs applicants whether loan requests have been approved or rejected. Requires a bachelor’s degree with at least 10 years of experience in the field. Mortgage Loan Processor Performs clerical and administrative support activities related to obtaining loans for borrowers. Requires a high school diploma or its equivalent and 0-2 years of related experience. Mortgage Loan Processor, Sr. Performs clerical and administrative support activities related to obtaining loans for borrowers. Requires a high school diploma or its equivalent and at least 3 years of related experience. Mortgage Loan Processing Manager Manages mortgage loan department of a financial institution. May require a bachelor’s degree and at least 5 years of experience in the field or in a related area. Mortgage Loan Servicing Clerk Performs a variety of clerical and administrative support activities related to mortgage loans, and utilizes related computer systems and software. Requires a high school diploma or its equivalent and 0-2 years of related experience. Mortgage Loan Servicing Clerk, Sr. Performs a variety of clerical and administrative support activities related to mortgage loans, and utilizes related computer systems and software. Requires a high school diploma or its equivalent with 2-4 years of experience in the field or in a related area. Mortgage Loan Servicing Manager Manages mortgage loan department of a financial institution. May require a bachelor’s degree in area of specialty and at least 5 years of experience in the field or in a related area. Mortgage Underwriter Reviews insurance applications to evaluate, classify, and rate individuals and groups for insurance. Accepts or rejects applications following an establishment’s underwriting standards. May require a bachelor’s degree in area of specialty and 0-2 years of experience in the field or in a related area. Mortgage Underwriter, Sr. Reviews insurance applications to evaluate, classify, and rate individuals and groups for insurance. Accepts or rejects applications following an establishment’s underwriting standards. May require a bachelor’s degree in area of specialty and at least 4 years of expe- rience in the field or in a related area. Mutual Fund Accountant Utilizes accounting principles to differentiate special purpose funds from a general fund. Maintains records of stewardship of financial resources received and expended and other financial activities. Analyzes financial data in order to prepare financial reports in compliance with applicable regulations. Requires bachelor’s or master’s degree in accounting, business administration or a similar field. CPA preferred.
24 accountingprincipals.com/salaryguide 2017 Salary Guide Product Control Manager Daily profit and loss review and produc- tion of weekly/monthly business packs, reports production plus enhancement/ expansion of scope of reporting and reviews, analyzes, and provides commentary. Other projects and queries as raised by senior finance and business unit management. Requires a bachelor’s degree in accounting or finance with 5-7 years product control experience. Regulatory Reporting Specialist Responsible for filing necessary appli- cations and handling all government interactions pertaining to the regulation process for products requiring govern- mental approval. Assists in developing procedures to ensure regulatory compliance. May require a bachelor’s degree in area of specialty and 0-3 years of experience in the field or in a related area. Has knowledge of commonly-used concepts, practices, and procedures within a particular field. Relies on instruc- tions and pre-established guidelines to perform the functions of the job. Works under immediate supervision. Typically reports to a supervisor or manager. Regulatory Reporting Specialist, Sr. Responsible for filing necessary appli- cations and handling all government interactions pertaining to the regulation process for products requiring govern- mental approval. Assists in developing procedures to ensure regulatory compliance. May require an advanced degree and 5-8 years of direct expe- rience in the field. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals. May lead and direct the work of others. A wide degree of creativity and latitude is expected. Typically reports to a manager or head of a unit/department. Regulatory Reporting Manager Oversees the regulation process for products requiring governmental approval, including filing necessary applications and handling all government interactions. Coordinates inspection of the organization and contract facilities, and develops procedures to ensure regulatory compliance. Requires a bachelor’s degree in area of specialty and at least 7 years of experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals. Leads and directs the work of others. A wide degree of creativity and latitude is expected. Typically reports to top management. Teller Processes a variety of routine financial transactions including check cashing, withdrawals, deposits and loan payments. Maintains appropriate level of cash on hand. Prepares daily paper- work according to branch procedures. Responsible for managing and balancing cash draw. Requires a high school diploma or equivalent and 0-1 years of experience. Has knowledge of commonly-used concepts, practices, and procedures within a particular field. Relies on instructions and pre-established guidelines to perform the functions of the job. Works under immediate super- vision. Typically reports to head teller. Vice President, Buy Side Leadership role within a traditional or alternative investment management firm, reporting to a Director. While function and area of expertise may vary, this individual typically manages a focused area of the business and leads a targeted team (i.e. Accounting). Typically has 10 years or more of financial services industry experience and appropriate educational require- ments for their chosen field. Vice President, Sell Side Leadership role within an investment banking organization or sell-side research firm, reporting to a Director. While function and area of expertise may vary, this individual typically manages a focused area of the business and leads a targeted team (i.e. Business Unit Control, Credit Risk Management, or Regulatory Reporting). Typically has 10 years or more of financial/capital markets experience and appropriate educational requirements for their chosen field. Wholesaler Proactively educates financial advisors/ registered representatives regarding company’s distributed products and benefits and makes recommendations to clients. Provides appropriate guidance to the financial advisors/ registered representatives regarding the company’s operating results and business strategies. Grows company’s market share within the territory through consultation with financial advisors/ registered representatives on company’s products. Maintains knowledge of company’s business and market performance/position in order to provide guidance to financial advisors/registered representatives related to company’s distributed products. A bachelor’s degree in business administration, logistics, finance, or a related field is required. FPO POCKET WITH BUSINESS CARD SLITS SEE INSTRUCTIONS PDF PROVIDED: API pocket instructions.pdf
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Find the Right Salaries for Top Accounting & Finance Talent

  • 1. REALITY CHECKHow to pay accounting & finance professionals in a changing market
  • 2. FUELED BY ECONOMIC GROWTH, THE DEMAND FOR ACCOUNTING & FINANCE TALENT IS ON THE RISE. THIS HAS CREATED A COMPETITIVE LABOR MARKET— A MARKET IN WHICH CANDIDATES, ESPECIALLY THOSE WITH SPECIALIZED SKILLS, CAN PICK & CHOOSE THEIR JOBS. BECAUSE OF THIS, IT’S NOW MORE IMPORTANT THAN EVER FOR EMPLOYERS TO OFFER QUITE A BIT IN ORDER TO HIRE & RETAIN TOP TALENT. TO BUILD A TALENTED & MOTIVATED TEAM, YOU NEED A TERRIFIC CULTURE. YOUR EMPLOYEES SHOULD STRIKE A HEALTHY WORK-LIFE BALANCE, HAVE OPPORTUNITIES TO GIVE BACK TO THE COMMUNITY &, GENERALLY, BE ENGAGED IN A POSITIVE ENVIRONMENT. BUT, AT THE CORE OF EVERY JOB IS A SALARY. ANY ACCOUNTING OR FINANCE PROFESSIONAL IS UNLIKELY TO ACCEPT A JOB OFFER—OR STICK AROUND LONG IF THEY DO—WITHOUT A GENEROUS NUMBER. FORTUNATELY, OUR 2017 SALARY GUIDE PROVIDES EXACTLY WHAT YOU NEED TO OFFER THE RIGHT SALARIES & EMPLOY THE BEST TALENT. YOU’LL FIND ACCURATE, UP-TO-DATE SALARY & TOTAL CASH COMPENSATION FIGURES BASED ON COMPANY SIZE & GEOGRAPHIC AREA FOR COUNTLESS POSITIONS. YOU’LL ALSO FIND DETAILED, CONTEMPORARY JOB DESCRIPTIONS. WE’RE CONFIDENT OUR SALARY GUIDE— & OUR PARTNERSHIP—WILL HELP YOUR BUSINESS LAND THE TALENT YOU NEED TO SUCCEED NOW, & FAR INTO THE FUTURE. — David Alexander, President OFFER Acceptance 6 ACCOUNTING & FINANCE 9 PUBLIC ACCOUNTING 10 BANKING & FINANCIAL SERVICES 14 JOB DESCRIPTIONS CONTENTS 2 INSIGHTS FOR 2017 4 ABOUT THE SALARIES 5 VARIANCES
  • 3. 3 According to the Bureau of Labor Statistics (BLS), total U.S. unemployment has seen little movement, hovering around 5%, yet accounting and finance occupations have seen job gains. In April of 2016, employment in financial activities rose by 20,000 jobs, and over the prior 12 months, grew by 160,000 jobs. Driven by a recovering economy and stronger regulatory environment, the BLS projects employment for all business and financial operations occupations will GROW 8% FROM 2014 TO 2024, ADDING OVER 632,000 NEW JOBS. RISING SALARIES As the economy improves, even more accounting and finance experts will be needed to prepare and examine financial records. The increased demand for this expertise means salaries will rise. While this is good news for job seekers, low unemployment in accounting and finance (3% compared to 5% overall), means employers will have a tough time engaging talent. Speaking of salaries, according to the BLS $65,710 IS THE MEDIAN ANNUAL WAGE FOR ALL BUSINESS & FINANCIAL OCCUPATIONS. This is significantly higher than the $36,200 figure for all occupations. Here are the positions with some of the highest median pay: > Chief Financial Officer $547,280 > Treasurer $302,145 > Finance Director $301,924 > Controller $275,157 GENERATIONS IN THE WORKFORCE It’s a multigenerational world—one where members of several eras work together and blend their skills. Here’s a breakdown of generations in the U.S. workforce, per the Incentive Research Foundation: When it comes to Millennials, some of their career must- haves differ from earlier generations. Millennials demand positive cultures, flexible hours and personal fulfillment —they won’t stay at a company for long without those. What remains the same is the importance they place on salaries. The non-profit organization Catalyst reports the following about the workforce’s largest generation: 80% Equate success with having enough money to support their families 74% Believe success means having money in savings These jobs will realize the most gain: The demand for accounting and finance professionals is up across the board, from the C-Suite to entry-level. According to the National Association of Colleges and Universities, for students who graduated in 2015, accounting and finance majors were among those most likely to land jobs. 11% ACCOUNTANTS AUDITORS 12% FINANCIAL ANALYSTS 30% FINANCIAL PLANNERS 55 MILLION MILLENNIALS 53 MILLION GEN XERS 44 MILLION BABY BOOMERS 4 MILLION TRADITIONALISTS THE INSIGHT YOU NEED TO PLAN A GREAT RECRUITING RETENTION STRATEGY FOR 2017 GROWTH Demand 2
  • 4. 5 Here’s an example: AN ACCOUNTANT HAS AN AVERAGE BASE SALARY OF $47,059 THE COMPANY IS BASED IN SAN DIEGO, WHICH HAS A LOCAL VARIANCE OF 117.16% HERE IS THE CALCULATION YOU WOULD USE: $47,059 x 117.16% = $55,134 THE SALARY FOR SAN DIEGO WOULD BE $55,134 4 accountingprincipals.com/salaryguide AZ Mesa..............................104.86% Phoenix.........................105.05% CA Burbank...........................110.57% East Bay.........................126.76% Los Angeles..................115.93% Los Angeles West....... 112.69% Newport Beach............ 116.49% Ontario............................105.14% Sacramento...................114.19% San Diego........................117.16% San Francisco..............132.81% San Gabriel Valley........114.00% Silicon Valley.................132.81% Torrance..........................113.27% Woodland Hills............. 115.43% CO Denver...........................108.58% CT Stamford........................109.16% DC Washington.................. 113.45% FL Fort Lauderdale...........103.66% Jacksonville...................101.37% Miami...............................102.17% Orlando............................99.04% Tampa.............................100.91% West Palm Beach.........98.87% GA Atlanta............................108.07% Columbus....................... 97.50% IL Chicago..........................113.06% Deerfield.........................112.57% Oakbrook Terrace........ 112.69% Schaumburg................. 112.69% IN Indianapolis..................103.91% KS Overland Park..............100.28% KY Louisville..........................99.12% MA Boston............................115.89% MD Baltimore........................110.14% MI Detroit.............................109.76% Grand Rapids................103.74% MN Minneapolis..................110.69% MO Kansas City...................101.82% St. Louis........................ 105.44% NC Charlotte.......................104.56% Greensboro....................99.42% Raleigh..........................104.92% NJ Edison............................120.06% Paramus........................ 121.22% Parsippany................... 120.23% Princeton.........................117.61% NM Albuquerque................102.99% NV Las Vegas.....................105.62% NY Long Island.....................114.14% New York City............... 124.66% OH Cincinnati.....................102.98% Cleveland......................105.33% Columbus..................... 106.22% OK Oklahoma City............... 97.58% Tulsa..................................97.70% OR Portland......................... 105.17% PA King of Prussia..............111.20% Philadelphia...................111.02% Pittsburgh....................103.28% TN Knoxville..........................94.86% Nashville........................101.23% TX Austin.............................101.44% Dallas..............................105.31% Fort Worth....................104.40% Houston........................ 109.42% VA McLean...........................116.86% Norfolk.............................94.84% Richmond.....................103.25% WA Bellevue......................... 115.24% Seattle.............................116.47% WI Milwaukee....................105.62% National variances are based on salary averages. Increases and decreases of demand for certain positions may impact this percentage. We realize that salaries in your city may not be the same as salaries in other areas of the country. That’s why we’ve provided variances for all of the key markets throughout the U.S. You can use a variance to calculate the most accurate salary ranges for your specific job market. Take the average base salary for the position you are researching and multiply it by the variance. The figures in this 2017 Salary Guide are based on national averages compiled through Accounting Principals’ partnership with CareerBliss, a career community dedicated to helping people find happiness in the workplace and in life. CareerBliss has millions of salary reports from real employees that are aggregated and formatted to be helpful to employers and employees alike, and their work has been featured on CNN, CNBC, Fox Business, Forbes and many other media outlets. To further validate the data, each office in Accounting Principals’ nationwide branch network reviewed their local market data. Based on that review, some figures were revised to ensure local accuracy. This comprehensive approach results in more regionally accurate data than the public data that is found in other salary guides. Salaries may be affected by many factors, including company size, benefits offered, location, educational requirements and local supply/demand trends. The accurate, up-to-date data in our guide is broken into the categories shown below. SMALL This figure represents the national average for companies in all industries with less than $50 million in annual sales. MEDIUM This figure represents the national average for companies in all industries with $50-$200 million in annual sales. LARGE This figure represents the national average for companies in all industries with greater than $200 million in annual sales. LOW Only 10% of the national workforce — across all industries and company sizes — is paid below this figure. HIGH Only 10% of the national workforce — across all industries and company sizes — is paid above this figure. AVERAGE This figure represents the national average across all industries and company sizes. LOW Only 10% of the national workforce — across all industries and company sizes — is below this figure, which includes annual cash incentives. HIGH Only 10% of the national workforce — across all industries and company sizes — is above this figure, which includes annual cash incentives. AVERAGE This figure represents the national average across all industries and company sizes and includes annual cash incentives. AVERAGE BASE SALARY BY COMPANY SIZE BASE SALARY TOTAL CASH COMPENSATION VARIANCES ABOUT THE SALARIES IN THIS GUIDE VARIANCES FOR SPECIFIC JOB MARKETS
  • 5. 7 2017 Salary Guide Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE ACCOUNTING FINANCE Accountant 44,454 47,349 50,778 38,837 56,692 47,059 39,473 58,230 47,988 Accountant, Sr. 66,913 70,006 72,403 55,358 83,566 68,194 55,873 87,391 70,817 Accounting Clerk 33,839 34,143 35,988 27,115 41,915 33,899 27,483 42,870 34,550 Accounting Supervisor 72,948 74,865 78,910 55,381 95,088 74,333 56,413 100,795 77,732 Accounting Manager 79,650 85,032 102,378 74,321 116,153 94,475 75,658 126,008 99,448 Accounting Director 125,543 131,714 147,838 101,135 174,468 135,416 105,928 211,791 150,550 Accounts Payable Clerk 32,598 36,896 39,333 27,928 44,421 36,185 28,300 45,288 36,893 Accounts Payable Specialist 35,754 37,983 41,928 29,174 47,696 38,906 29,305 55,865 39,969 Accounts Payable Specialist, Sr. 43,342 48,648 51,192 36,196 62,798 47,910 37,162 64,749 49,985 Accounts Payable Supervisor 56,564 59,485 63,710 42,565 74,622 59,551 44,008 75,646 62,328 Accounts Payable Manager 74,154 78,918 82,985 56,672 101,365 77,702 57,588 110,420 81,647 Accounts Receivable Clerk 33,693 36,925 42,067 28,576 45,392 38,122 28,753 46,383 38,542 Accounts Receivable Specialist 35,992 37,401 43,039 29,502 48,442 39,183 30,685 56,174 40,558 Accounts Receivable Specialist, Sr. 41,739 49,095 51,745 37,080 63,143 49,654 38,688 65,137 52,758 Accounts Receivable Supervisor 54,358 57,989 60,122 40,412 72,267 54,031 41,783 72,762 58,366 Accounts Receivable Manager 74,092 77,817 81,759 56,509 103,392 76,587 56,825 112,431 79,932 Assistant Controller 104,170 108,261 125,807 83,205 166,895 101,047 85,749 190,503 109,782 Assistant Treasurer 107,206 117,709 176,376 88,556 191,305 139,447 89,745 234,553 158,964 Billing Clerk 35,032 38,893 42,527 27,844 44,244 36,293 28,132 45,107 36,492 Billing Specialist 36,800 41,057 44,288 30,155 48,048 38,491 31,155 48,482 39,936 Billing Specialist, Sr. 37,271 42,334 44,569 31,571 49,743 40,198 32,062 51,427 40,423 Billing Supervisor 58,920 60,684 63,878 42,627 81,101 60,067 42,780 83,171 61,477 Billing Manager 64,812 66,753 70,266 46,890 89,211 66,074 47,058 91,488 67,624 Bookkeeper 39,234 40,763 42,881 31,563 53,111 41,651 31,798 53,540 43,012 Budget Analyst 52,313 53,713 54,506 41,342 67,314 53,936 42,482 67,587 55,047 Budget Analyst, Sr. 77,664 80,699 83,131 62,115 96,786 78,851 62,619 102,435 80,839 Budget Manager 96,185 96,892 108,795 75,475 130,972 101,071 77,378 142,446 107,198 Cash Applications Clerk 42,272 45,087 48,802 37,059 57,870 45,980 39,070 63,927 51,812 Chief Financial Officer 213,627 270,906 444,444 189,701 547,280 353,748 237,259 1,005,472 513,994 Collections Specialist 33,198 36,311 41,084 25,374 44,952 34,687 25,442 45,807 35,145 Collections Specialist, Sr. 38,961 43,552 46,059 30,861 50,014 40,043 31,367 51,679 42,119 Controller 125,921 151,882 232,640 118,392 275,157 185,158 129,935 388,003 224,560 Cost Accountant 49,004 51,548 53,735 41,216 63,464 52,882 41,881 65,015 53,694 Cost Accountant, Sr. 73,889 75,523 78,596 49,554 89,200 69,549 49,872 93,213 70,776 ACCOUNTING FINANCE #3and #4ACCOUNTING FINANCE ARE TWO OF THE TOP-RANKED INDUSTRIES IN THE U.S. NEWS WORLD REPORT’S BEST JOBS RANKING The 2015 U.S. Salary Survey from the Institute of Management Accountants found that base salary and total compensation for accounting and finance occupations increased at a year-over-year rate of nearly 4%, exceeding the U.S. gross domestic product growth rate. The best-compensated accountants work in securities and commodity contracts intermediation and brokerage and for the federal executive branch. 28-46% OF PROFESSIONALS WITH CMA OR CPA DESIGNATIONS EARN MUCH MORE THAN THEIR NON-CERTIFIED PEERS On another positive note, employment for financial managers in private industry is expected to grow 7% from 2014 to 2024, about as fast as the average for all occupations. Today, many professionals ask for—and receive— higher compensation. This good news for job seekers means a bumpy road ahead for employers. Per the article “It’s a Seller’s Market for Accountants: Report Finds Demand is High” on AccountingWEB, it’s getting tougher for businesses to find skilled candidates for job openings, especially in major urban markets. As a result, employers must be willing to negotiate salaries and move quickly in their recruiting efforts. Offering the right compensation from the start could be the difference between landing top candidates and losing them to the competition. + + + + + + + + 6 accountingprincipals.com/salaryguide
  • 6. 9 2017 Salary Guide 8 accountingprincipals.com/salaryguide PUBLIC ACCOUNTINGBase salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE ACCOUNTING FINANCE continued Cost Accounting Manager 94,893 96,003 107,787 68,636 123,140 95,215 68,861 143,317 101,924 Credit Collections Clerk 33,007 33,729 37,029 22,405 39,968 31,086 22,774 42,461 31,839 Credit Collections Manager 78,901 86,389 95,609 57,657 106,801 80,524 58,950 117,451 84,748 Credit Analyst 47,162 50,336 51,310 36,764 59,003 48,484 39,472 60,800 49,899 Credit Analyst, Sr. 71,447 73,090 74,696 48,476 91,657 70,965 49,910 99,224 73,566 Finance Manager 73,177 81,911 87,833 46,842 98,479 76,616 48,498 113,628 84,779 Finance Director 173,613 182,367 246,380 138,539 301,924 213,994 142,321 467,911 290,800 Financial Analyst 52,011 54,634 55,999 41,693 64,105 52,535 42,199 66,361 53,911 Financial Analyst, Sr. 78,724 81,943 84,134 64,358 94,544 78,884 65,458 100,284 81,910 Financial Analysis Manager 99,242 103,115 110,781 83,431 130,404 105,090 87,283 147,081 114,308 Financial Reporting Accountant 50,790 56,658 58,274 43,783 68,470 54,041 44,084 70,985 56,494 Financial Reporting Accountant, Sr. 78,542 82,729 85,340 60,253 101,309 80,687 62,258 107,931 84,512 Financial Reporting Manager 105,480 109,993 114,563 81,260 130,821 104,455 84,394 147,760 113,041 Financial Reporting Director 125,558 137,083 155,176 91,250 152,826 129,814 104,973 192,133 137,882 Internal Auditor 52,769 54,481 55,240 43,566 65,039 53,138 43,788 67,686 54,324 Internal Auditor, Sr. 78,507 81,896 83,288 62,536 95,062 78,838 65,052 99,775 81,473 Internal Audit Manager 92,468 104,027 121,364 98,247 115,585 109,806 104,027 138,702 124,832 Internal Audit Director 120,731 135,822 158,459 128,276 150,913 143,368 135,822 181,096 162,986 Internal Audit Vice President 169,567 190,763 222,557 180,165 211,959 201,361 190,763 254,351 228,916 Payroll Clerk 36,841 40,597 44,074 30,452 47,435 37,981 30,740 47,860 38,603 Payroll Specialist 43,268 45,436 47,874 35,460 54,001 43,976 36,147 55,129 44,663 Payroll Specialist, Sr. 45,635 46,522 52,199 36,323 55,497 45,188 36,606 56,498 45,868 Payroll Supervisor 64,222 65,046 68,705 48,947 82,075 64,325 49,129 83,417 64,989 Payroll Manager 68,300 72,848 99,301 62,568 107,198 84,422 65,152 118,101 89,789 Staff Accountant 52,052 55,571 60,389 48,512 63,902 56,948 48,954 69,625 58,753 Staff Accountant, Sr. 78,207 81,023 84,887 62,697 98,637 79,898 64,125 104,906 83,176 Tax Accountant 51,908 52,652 54,212 40,549 62,547 51,193 40,995 64,941 52,312 Tax Accountant, Sr. 78,525 94,796 100,674 62,975 96,071 78,840 64,899 103,423 83,194 Tax Manager 108,015 110,856 117,067 83,163 143,304 110,814 85,680 163,721 121,427 Tax Director 138,261 148,974 194,478 116,357 213,169 159,181 127,329 282,710 188,484 Treasurer 170,537 181,368 238,623 128,558 302,145 206,333 142,696 444,139 262,081 Treasury Analyst 48,377 50,926 53,204 39,186 62,367 49,778 39,221 63,643 51,204 Treasury Analyst, Sr. 72,635 75,939 79,268 58,134 94,607 74,579 59,185 99,290 77,787 Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE PUBLIC ACCOUNTING Audit/Assurance Services, Associate 48,933 55,049 64,224 51,991 67,283 61,166 53,826 73,399 66,059 Audit/Assurance Services, Sr. Associate 51,379 57,802 67,436 54,591 70,647 64,224 56,517 77,069 69,362 Audit/Assurance Services, Manager 61,142 68,784 80,248 64,963 84,070 76,427 67,256 91,712 82,541 Audit/Assurance Services, Sr. Manager 85,598 96,298 112,348 90,948 117,697 106,998 94,158 128,397 115,558 Tax Services, Associate 62,896 70,758 82,551 66,827 86,482 78,620 69,186 94,344 84,910 Tax Services, Sr. Associate 66,041 74,296 86,679 70,169 90,806 82,551 72,645 99,062 89,155 Tax Services, Manager 78,589 88,412 103,148 83,501 108,060 98,236 86,448 117,883 106,095 Tax Services, Sr. Manager 88,055 99,062 115,572 93,558 121,075 110,068 96,860 132,082 118,874 Partner 149,270 158,641 243,377 128,511 293,043 203,171 133,734 303,808 205,296 Some of the reasons why they are in such high demand in public accounting are globalization, an improving economy, tight lending standards, and a complex tax and regulatory environment. Public accounting firms face stiff competition from government and other employers for top talent. There were 1.3 million accountants and auditors employed in the U.S. in 2014 in the following areas: 26% in public accounting, tax preparation, bookkeeping and/or payroll 8% in government 8% in finance and insurance 7% in management of companies and enterprises 6% in manufacturing According to The American Institute of CPAs’ report “2015 Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits,” 91% of firms expect their hiring of new accounting grads to be the same or higher than the previous year. With Millennials as the largest segment of the workforce, public accounting firms need to reevaluate the old way of working that focused on long hours. Millennials recognize the ease of 24/7 communication and want greater flexibility. They see more value in their modified schedules that focus on productivity rather than meeting a certain number of hours worked. While 95% surveyed in PwC’s “Millennials at Work” report valued work-life balance, the myth that Millennials don’t place a premium on compensation is just that: a myth. 44% of those questioned said competitive wages made an employer more attractive, the second highest proportion for any factor given. PER THE BLS, EMPLOYMENT OF ACCOUNTANTS AUDITORS IS PROJECTED TO GROW BY 11% FROM 2014 TO 2024, FASTER THAN THE 7% AVERAGE FOR ALL OCCUPATIONS. 1,475,100 AUDITORS ACCOUNTANTS WILL BE EMPLOYED IN THE U.S. BY 2024.
  • 7. 11 2017 Salary Guide Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE BANKING FINANCIAL SERVICES Analyst, Buy Side 61,560 69,255 80,798 65,408 84,645 76,950 67,716 92,340 83,106 Associate, Buy Side 66,485 74,795 87,261 70,640 91,417 83,106 73,133 99,727 89,754 Analyst, Sell Side 61,560 69,255 80,798 65,408 84,645 76,950 67,716 92,340 83,106 Associate, Sell Side 66,485 74,795 87,261 70,640 91,417 83,106 73,133 99,727 89,754 Banking Operations Specialist 34,839 39,194 45,726 37,016 47,903 43,549 38,323 52,258 47,032 Banking Operations Specialist, Sr. 37,278 41,937 48,927 39,607 51,257 46,597 41,005 55,916 50,325 Banking Operations Specialist Manager 43,549 48,992 57,157 46,270 59,879 54,436 47,903 65,323 58,791 Business Development Officer 57,229 64,383 75,114 60,806 78,691 71,537 62,952 85,844 77,260 Client Service Representative 24,369 27,415 31,984 25,892 33,507 30,461 26,806 36,553 32,898 Client Service Representative, Sr. 25,831 29,060 33,903 27,445 35,517 32,289 28,414 38,746 34,872 Client Service Representative Manager 33,141 37,284 43,498 35,213 45,570 41,427 36,456 49,712 44,741 Commercial Lending Specialist 37,085 41,721 48,675 39,403 50,992 46,357 40,794 55,628 50,065 Commercial Lending Specialist, Sr. 40,423 45,476 53,055 42,950 55,582 50,529 44,465 60,635 54,571 Commercial Lending Manager 48,953 55,072 64,250 52,012 67,310 61,191 53,848 73,429 66,086 Commodities Analyst Specialist 68,126 76,642 89,416 72,384 93,674 85,158 74,939 102,190 91,971 Commodities Analyst Specialist, Sr. 77,664 87,372 101,934 82,518 106,788 97,080 85,431 116,496 104,847 Commodities Analyst Manager 91,289 102,701 119,817 96,995 125,523 114,112 100,418 136,934 123,241 Compliance Specialist 47,140 47,616 48,218 39,674 55,411 46,972 39,894 60,186 48,536 Compliance Specialist, Sr. 50,658 51,375 53,260 43,536 57,248 51,064 44,644 61,106 52,263 Compliance Manager 94,341 94,956 97,696 79,315 100,202 83,852 81,134 129,956 99,007 Consumer Loan Collector 29,532 30,507 31,952 24,840 35,021 30,028 26,117 45,026 31,119 Consumer Loan Collector, Sr. 36,855 38,338 40,289 31,962 44,538 37,768 32,813 52,181 40,814 Consumer Loan Collection Manager 76,252 79,230 83,358 58,573 97,114 78,780 61,279 140,489 95,970 Consumer Loan Processor 33,581 35,103 36,502 27,093 41,354 34,560 28,214 46,659 36,231 Consumer Loan Processor, Sr. 39,673 41,474 43,766 32,382 50,413 40,900 32,989 58,268 42,406 Consumer Loan Processing Manager 62,778 65,825 69,288 48,733 82,319 65,036 50,978 109,690 74,801 Credit Analyst Specialist 57,199 64,349 75,074 60,774 78,649 71,499 62,919 85,799 77,219 Credit Analyst Specialist, Sr. 76,265 85,799 100,098 81,032 104,865 95,332 83,892 114,398 102,958 Credit Analyst Manager 85,692 96,403 112,470 91,047 117,826 107,114 94,261 128,537 115,684 Director of Operations 103,147 116,040 135,380 109,594 141,827 128,934 113,462 154,720 139,248 Financial Planning Specialist 62,057 69,814 81,449 65,935 85,328 77,571 68,262 93,085 83,776 Financial Planning Specialist, Sr. 84,893 95,505 111,423 90,199 116,728 106,117 93,383 127,340 114,606 Financial Planning Manager 104,255 117,287 136,835 110,771 143,351 130,319 114,681 156,383 140,744 BANKING FINANCIAL SERVICES 10 accountingprincipals.com/salaryguide For instance, compliance with the Dodd-Frank Act requires a talented workforce in order to maintain regulatory compliance. Employees with expertise in specialized areas, including financial analysts, forensic researchers and regulatory analysts, will be in demand. The BLS projects: EMPLOYMENT FOR FINANCIAL EXAMINERS WILL GROW BY 10% BETWEEN 2014 2024 As the economy surges, so does the need for commercial and mortgage lending. An increased demand for loans, coupled with increased regulatory compliance, means a more labor intensive loan approval process. The BLS anticipates: EMPLOYMENT FOR LOAN OFFICERS WILL GROW BY 8% BETWEEN 2014 2024 The competition for “star talent” is no longer only within financial services. In the long run, banking jobs will center on tech. According to “Millennial Disruption,” a 2015 study by Viacom Media, 73% of Millennials would rather handle their financial service needs with Google, Amazon, Apple, PayPal or Square, instead of a nationwide bank. Updating technology and satisfying demands of better- informed and less loyal customers means banks need to prioritize hiring technologically-savvy talent.The challenge is competing for talent against the tech industry’s aggressive pay policies for junior staff. In an interview with Business Reporter, Alice Leguay, co-founder and CEO of Emolument, said tech companies are outpacing traditional financial and professional service firms when it comes to on-campus recruiting. “Working for a top investment bank no longer epitomizes the graduate dream, especially since financial industry remuneration has taken a bashing in the last few years.” In Bloomberg, Jennifer Surane writes that in 2007, about 13% of Harvard MBA graduates went into investment banking or trading. By 2015, that number fell to just 4%. MBA graduates from the top-tier business schools are being lured away from banking by Facebook, Google, Apple, Amazon and tech startups. THE BANKING INDUSTRY IS IN THE MIDDLE OF SEVERAL MAJOR SHIFTS THAT WILL AFFECT EMPLOYMENT
  • 8. 13 2017 Salary Guide 2017 Salary Guide 12 accountingprincipals.com/salaryguide Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE BANKING FINANCIAL SERVICES continued Fund Operations Specialist 42,551 47,870 51,144 45,211 58,508 53,189 46,806 63,827 57,444 Fund Operations Specialist, Sr. 46,296 52,083 55,239 49,189 63,657 57,870 50,925 69,444 62,499 Fund Manager 68,981 77,603 82,306 73,292 94,848 86,226 75,879 103,471 93,124 Hedge Fund Accountant 54,912 61,775 72,071 58,343 75,503 68,639 60,403 82,367 74,131 Hedge Fund Accountant, Sr. 59,854 67,335 78,558 63,594 82,299 74,817 65,839 89,780 80,802 Hedge Fund Accountant Manager 76,569 86,140 91,356 81,354 105,282 95,711 84,225 114,853 103,368 Managing Director, Buy Side 184,680 207,765 242,393 196,223 253,935 230,850 203,148 277,020 249,318 Managing Director, Sell Side 184,680 207,765 242,393 196,223 253,935 230,850 203,148 277,020 249,318 Market Risk Analyst 70,918 79,783 93,080 75,350 97,512 88,647 78,010 106,377 95,739 Mortgage Collector 35,342 36,617 38,354 27,234 43,102 35,480 28,879 43,861 37,023 Mortgage Collector, Sr. 45,366 47,043 49,073 33,233 64,390 45,312 40,633 65,499 48,536 Mortgage Collection Manager 77,358 79,424 83,903 49,259 100,306 77,522 50,993 111,830 80,308 Mortgage Loan Closer 42,768 47,579 50,666 32,033 52,432 43,293 33,847 61,296 45,035 Mortgage Loan Originator 145,601 147,440 148,446 88,455 247,461 145,857 104,422 254,564 147,162 Mortgage Loan Processor 35,416 37,374 38,355 26,131 46,218 36,340 28,107 48,522 37,462 Mortgage Loan Processor, Sr. 45,805 47,501 49,772 37,351 54,457 46,752 38,397 56,503 48,199 Mortgage Loan Processing Manager 82,492 85,034 88,812 61,855 104,996 83,445 74,709 138,909 97,946 Mortgage Loan Servicing Clerk 29,312 30,855 32,388 22,060 37,802 31,256 22,791 39,464 32,201 Mortgage Loan Servicing Clerk, Sr. 35,150 37,135 38,625 27,564 48,234 36,403 28,304 50,321 37,704 Mortgage Loan Servicing Manager 87,711 90,421 95,622 53,783 122,984 84,212 55,097 135,521 89,470 Mortgage Underwriter 58,960 61,361 63,717 38,127 65,422 48,471 38,816 69,681 50,342 Mortgage Underwriter, Sr. 70,696 73,210 75,797 56,036 84,633 69,377 57,905 87,817 72,301 Mutual Fund Accountant 63,120 71,009 82,844 67,064 86,789 78,899 69,431 94,679 85,211 Mutual Fund Accountant, Sr. 70,063 78,821 91,957 74,442 96,336 87,578 77,069 105,094 94,585 Mutual Fund Accountant Manager 83,949 94,443 110,183 89,196 115,430 104,936 92,344 125,923 113,331 Operations Manager 82,518 92,832 108,304 87,675 113,462 103,147 90,769 123,776 111,399 Performance Analyst 66,609 74,935 87,424 70,772 91,587 83,261 73,270 99,913 89,922 Portfolio Manager 77,541 82,408 98,239 61,506 106,135 83,360 64,090 117,039 88,727 Pricing Analyst 56,762 59,691 61,522 39,933 72,425 57,927 44,551 90,303 65,584 Base salary by company size Base salary Total cash compensation SMALL MEDIUM LARGE LOW HIGH AVERAGE LOW HIGH AVERAGE BANKING FINANCIAL SERVICES continued Private Banker 61,035 64,184 66,152 42,939 77,877 62,287 47,904 97,100 70,520 Private Banker, Sr. 105,562 107,330 110,357 77,299 144,283 105,584 87,054 179,555 121,318 Private Banker Manager 125,619 127,723 131,324 91,986 171,697 125,645 103,594 213,671 144,369 Private Equity Accountant 55,461 62,393 72,792 58,927 76,258 69,326 61,007 83,191 74,872 Private Equity Accountant, Sr. 60,452 68,009 79,343 64,230 83,122 75,565 66,497 90,678 81,610 Private Equity Accountant Manager 77,334 87,001 92,738 82,168 106,335 96,668 85,068 116,001 104,401 Product Control Specialist 64,956 73,076 85,255 69,016 89,315 81,196 71,452 97,435 87,691 Product Control Specialist, Sr. 67,490 75,926 88,580 71,708 92,798 84,362 74,239 101,235 91,111 Product Control Manager 75,589 85,037 99,210 80,313 103,934 94,486 83,147 113,383 102,045 Regulatory Reporting Specialist 68,074 76,584 89,348 72,329 93,602 85,093 74,882 102,112 91,900 Regulatory Reporting Specialist, Sr. 70,729 79,570 92,832 75,150 97,253 88,412 77,802 106,094 95,485 Regulatory Reporting Manager 79,217 89,119 103,972 84,168 108,923 99,021 87,138 118,825 106,943 Teller 24,575 27,647 32,254 26,111 33,790 30,718 27,032 36,862 33,176 Vice President, Buy Side 256,521 288,586 336,683 272,553 352,716 320,651 282,173 384,781 346,303 Vice President, Sell Side 256,521 288,586 336,683 272,553 352,716 320,651 282,173 384,781 346,303 Wholesaler 48,828 51,347 52,922 34,351 62,301 49,830 38,323 77,680 56,416 FOR MORE DETAILS ON DEFINING SALARIES UNDERSTANDING TRENDS IN THE JOB MARKET, CONTACT YOUR LOCAL ACCOUNTING PRINCIPALS REPRESENTATIVE. All salaries are in US$
  • 9. 14 accountingprincipals.com/salaryguide 15 2017 Salary Guide 2017 Salary Guide Assistant Controller Heads preparation, in an assistant role, or develops reports that summarize and forecast company business activity and financial position. Requires a bachelor’s degree in area of specialty with at least 10 years of experience in the field or related area. Leads and directs the work of others. Assistant Treasurer Assists the Treasurer with the receipt, disbursement, banking, protection and custody of funds, securities, and financial instruments. Requires a bachelor’s degree in area of specialty with at least 10 years of experience in the field or related area. Leads and directs the work of others. Billing Clerk Responsible for compiling monies owed by the company to vendors, suppliers, or other organizations/individuals. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Billing Specialist Responsible for preparation of bills and invoices, calculation of sales tickets and charge slips, and verification of billing with accounts receivable ledger. Requires a bachelor’s degree in area of specialty and 2-4 years of experience in the field or in a related area. Billing Specialist, Sr. Responsible for preparation of bills and invoices, the calculation of sales tickets and charge slips, and verification of billing with accounts receivable ledger. Requires a bachelor’s degree in area of specialty and 4-6 years of experience in the field or in a related area. Billing Supervisor Coordinates and analyzes customer billing and accounts receivable management. May require a bachelor’s degree in area of specialty. Performs invoice preparation, audits and edits pre-bills, and performs write-offs when approved by management. Billing Manager Coordinates and analyzes customer billing and accounts receivable management and may supervise Billing Clerks. May require a bachelor’s degree in area of specialty plus at least 3 years of experience in the field or in a related field. Bookkeeper Keeps books and accounting records of financial transactions for an establishment. May require an associate’s degree or its equivalent with 2-4 years of experience in the field or in a related area. Budget Analyst Analyzes, advises, and provides technical assistance in preparing budgets while seeking new ways to lower costs and increase efficiency. Requires a bachelor’s degree and 0-2 years of experience in the field or in a related area. Budget Analyst, Sr. Reviews proposed financial plans, including budgets, for completeness, accuracy, conformance with established procedures, regulations, and organizational objectives. Requires a bachelor’s degree and 4-6 years of experience in the field or in a related area. Budget Manager Manages activities of personnel responsible for formulation and presentation of budgets for controlling funds to implement program objectives of an organization. Requires a bachelor’s degree and 5-7 years of experience in the field or in a related area. Cash Applications Clerk Provides support and service for the cash management needs of business banking clients, ensuring client retention and customer satisfaction. Requires a bachelor’s degree in area of specialty and 3-5 years of experience in the field or in a related area. Chief Financial Officer Directs and coordinates company’s financial affairs according to financial principles and government regulations, and establishes major economic objectives and policies for the company. Requires a bachelor’s degree and at least 15 years of direct experience in the field. Collections Specialist Performs routine administrative tasks to support the collections group including distributing documents, responding to customer needs, entering data and other clerical duties as required. Requires a high school diploma or its equivalent and 2-4 years of related experience in the field or in a related area. Collections Specialist, Sr. Performs routine administrative tasks to support the collections group including distributing documents, responding to customer needs, entering data and other clerical duties as required. Requires a high school diploma or its equivalent and 4-6 years of related experience in the field or in a related area. Controller Directs and plans the preparation of reports that summarize and forecast company business activity and financial position in areas of income, expenses and earnings, based on past, present and expected operations. Requires a bachelor’s degree and at least 15 years of direct experience in the field. Cost Accountant Provides detailed cost information and data analysis not supplied by general accounting systems by applying principles of cost accounting. May require a bachelor’s degree and 0-2 years of experience in the field or in a related area. ACCOUNTING FINANCE Accountant Readies and maintains financial and business transactions, applying accounting principles, that include work that is analytical, evaluative, and advisory in nature and that requires an understanding of both accounting theory and practice. May require a bachelor’s degree in area of specialty and 0-2 years of experience in the field or in a related area. Accountant, Sr. Readies and maintains financial and business transactions, applying accounting principles, that include work that is analytical, evaluative, and advisory in nature and that requires an understanding of both accounting theory and practice. Requires a bachelor’s degree in area of specialty, and 4-6 years of experience in the field or in a related area. May lead and direct the work of others. Accounting Clerk Prepares and keeps financial and business transactions data up to date, and prepares reports to ensure accurate accounting records. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Accounting Supervisor Supervises and trains less complex day-to-day general accounting functions and accounting operations which include coding invoices and compiling data for various accounting reports. Leads most day-to-day operations of group. May require a bachelor’s degree in area of specialty. Accounting Manager Manages professional level accounting functions and the preparation of reports including earnings, profits/losses, cash balances, and cost accounting. Requires a bachelor’s degree in area of specialty and at least 7 years of experience in the field or in a related area. Accounting Director Directs, coordinates, and administers accounting operations which may include general accounting, cost accounting, payroll, accounts payable, and accounts receivable. Requires a bachelor’s degree in area of specialty with at least 10 years of experience in the field or in a related area. Accounts Payable Clerk Supervises and coordinates accounts payable activities, including processing and payment of invoices and proper filing and storage of records. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Accounts Payable Specialist Calculates, posts business transactions, processes invoices, verifies financial data for use in maintaining accounts payable records, and provides other clerical support necessary to pay the obligations of the organization. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Accounts Payable Specialist, Sr. Supervises and coordinates accounts payable activities of processing and payment of invoices in a timely fashion, proper matching of purchasing and receiving documents, correct distribution to general ledger expense accounts, timely and accurate payments and proper filing and storage of records. Requires a high school diploma or its equivalent with 2-4 years of experience in the field or in a related area. Accounts Payable Supervisor Supervises and coordinates accounts payable activities, processing payments and reconciliation of general ledger accounts. May require a bachelor’s degree in area of specialty. Leads and directs the work of others. Accounts Payable Manager Manages and coordinates activities required to ensure an accurate accounts payable system. May require a bachelor’s degree in a related area and at least 7 years of experience in the field. Accounts Receivable Clerk Oversees and coordinates accounts receivable activities including accuracy and corrections to customer accounts and reconciliation of revenue accounts. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Accounts Receivable Specialist Prepares customer statements, bills and invoices. Reconciles expenses to the general ledger and other clerical tasks related to maintaining the accounts receivable records for an organization. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Accounts Receivable Specialist, Sr. Coordinates and keeps records of accounts receivable activities, ensuring an accurate accounts receivable system. Develops work schedules, assigns duties, and reviews work for accuracy, neatness, and conformance to policies. Requires a high school diploma or its equivalent with 2-4 years of experience in the field or in a related area. Accounts Receivable Supervisor Supervises and coordinates accounts receivable activities, ensuring an accurate accounts receivable system. May require a bachelor’s degree in area of specialty. Accounts Receivable Manager Manages and coordinates activities required to ensure an accurate accounts receivable system. May require a bachelor’s degree in area of specialty and at least 7 years of experience in the field or in a related area.
  • 10. 16 accountingprincipals.com/salaryguide 17 2017 Salary Guide 2017 Salary Guide Internal Audit Manager Conducts reviews to identify financial and business risks and assesses compliance with regulations. Contributes to the development of strategies and procedures for carrying out internal audits. Evaluates internal controls to identify areas needing improvement. Assists in the coordination and implementation of internal audits. Reports audit results in writing and in presentations. Undergraduate degree in accounting or finance, 4-6 years of experience required. Internal Audit Director Enforces compliance with company policies for risk assessment and financial controls. Conducts reviews to identify financial and business risks, and implements appropriate controls. Develops strategies and procedures for carrying out internal audits. Oversees external audits, organizing paperwork and making sure audits are finished on schedule. A bachelor’s degree in accounting, finance, information technology or a related field is required, and at least 10 years of accounting experience. Internal Audit Vice President Trains and manages the internal auditing staff and conducts evaluations. Designs methods to assess and mitigate business risks. Conducts internal audits, determines the objectives of audits, and tracks audit results. Proposes methods to improve processes and problem areas identified by audits. Requires over 15 years of extensive related experience, and at least a bachelor’s degree in a related field. Payroll Clerk Processes organization’s payroll and compiles payroll data to maintain accurate payroll records, balancing payroll runs, producing federal, state and local tax payments. Requires a high school diploma or its equivalent with 0-3 years of experience in the field or in a related area. Payroll Specialist Inputs data from time sheets, production records, or individual time cards to computerized payroll system. Requires a high school diploma or its equivalent with 0-3 years of experience in the field or in a related area. Payroll Specialist, Sr. Processes employee status changes, processes and analyzes payroll and employee expenses, reconciles general ledger accounts, creates ongoing month- end, quarterly, and year-end organizational reports, generating accurate reports and performs other duties as assigned. Requires a high school diploma or its equivalent with 2-5 years of experience in the field or in a related area. Payroll Supervisor Supervises and coordinates activities of payroll workers, including recording hours of work, processing time records, compiling payroll statistics, maintaining payroll control records, and calculating payrolls. May require a bachelor’s degree in area of specialty. Payroll Manager Manages and coordinates activities of staff and payroll systems at one or more locations. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field and manages payroll staff. Staff Accountant Assists senior accountants in the research and preparation for audits, projects and taxes. Typically has 1-3 years of experience. Staff Accountant, Sr. Responsible for completing audits, tax preparation and filing of forms. Typically has more than 3 years of experience. Directs lower tier staff on specific projects. Tax Accountant Prepares federal, state, or local tax returns for individuals, business establishments, or other organizations. May require a bachelor’s degree and 0-2 years of experience in the field or in a related area. Tax Accountant, Sr. Prepares federal, state, or local tax returns for individuals, business establishments, or other organizations. Requires a bachelor’s degree and 4-6 years of experience in the field or in a related area. Tax Manager Manages department responsible for preparation of state, federal, and local tax returns. Manages the tax accounting staff and requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Leads and directs the work of others. Tax Director Directs activities of department and personnel responsible for ensuring that tax reports have been properly prepared and filed. Requires a bachelor’s degree with at least 10 years of experience in the field. Treasurer Directs and coordinates the organization’s treasury activities including receipt, disbursement, banking, protection and custody and investment of funds, securities, and financial instruments. Requires a bachelor’s degree and at least 15 years of direct experience in the field. Treasury Analyst Reviews and analyzes all operational cash flows for the organization and advises management on investments and loans for short- and long-range financial plans. May require a bachelor’s degree in area of specialty and 0-2 years of experience in the field or in a related area. Treasury Analyst, Sr. Reviews and analyzes all operational cash flows for the organization. Determines procurement of funds and monitors investments and collections. May lead and direct the work of others. May require a bachelor’s degree and 5-8 years of experience in the field or in a related area. Cost Accountant, Sr. Provides detailed cost information and data analysis not supplied by general accounting systems by applying principles of cost accounting. Requires a bachelor’s degree and 4-6 years of experience in the field or in a related area. Cost Accounting Manager Manages and oversees professional cost accounting activities including implementing cost control procedures, providing staff supervision over cost systems and methods, and managing the compilation of periodic statements of product cost. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Credit Collections Clerk Interviews credit applicant to obtain financial and personal data for credit report. Contacts former employers and other acquaintances to verify references and employment, and investigates credit risk in customers and suppliers. Requires a high school diploma or its equivalent with 0-2 years of experience in the field or in a related area. Credit Collections Manager Develops and administers credit and collection programs and oversees investigation of credit risk in customers and suppliers and monitors the collection of amounts due to the organization. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Manages a credit and collection staff. Credit Analyst Assesses credit information to deter- mine risk involved in lending money to customers, and prepares report of findings. May require a bachelor’s degree and 0-2 years of experience in the field or in a related area. Credit Analyst, Sr. Assesses credit information to deter- mine risk involved in lending money to customers, and prepares report of findings. Requires a bachelor’s degree and at least 5 years of experience in the field or in a related area. Finance Manager Offers finance and insurance options to clients through established relationships with lenders/providers. May require a bachelor’s degree in area of specialty and at least 5 years of experience in the field or in a related area. Leads and directs the work of others. Finance Director Directs and aids in financial analysis, evaluation, and report generation activities of current and proposed financial plans. Typically requires an advanced degree with at least 10 years of experience in the field. Financial Analyst Analyzes past and present financial data of an organization and estimates future revenues and expenditures. Requires a bachelor’s degree and 0-2 years of experience in the field or in a related area. Financial Analyst, Sr. Analyzes past and present financial data of an organization and estimates future revenues and expenditures. Requires a bachelor’s degree and 4-7 years of experience in the field or in a related area. Financial Analysis Manager Manages conduct of statistical analyses of information affecting financial and accounting programs of public, industrial, and/or financial organizations through subordinate financial analysis staff. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Financial Reporting Accountant Manages all Securities and Exchange Commission (SEC) external reporting requirements, including preparation and filing of Form 10-K, 10-Q, Form 8-K, Proxy Statement, and other periodic governmental reports. Requires a bachelor’s degree in area of specialty and 0-2 years of experience in the field or in a related area. Financial Reporting Accountant, Sr. Oversees all Securities and Exchange Commission (SEC) external reporting requirements, including preparation and filing of Form 10-K, 10-Q, Form 8-K, Proxy Statement, and other periodic governmental reports. Requires a bachelor’s degree in area of specialty and 4-6 years of experience in the field or in a related area. May lead and direct the work of others. Financial Reporting Manager Manages all Securities and Exchange Commission (SEC) external reporting requirements, including preparation and filing of Form 10-K, 10-Q, Form 8-K, Proxy Statement, and other periodic governmental reports. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field and manages the financial reporting staff. Financial Reporting Director Directs and oversees the preparation and distribution of financial statements for external use and ensures that all documentation complies with company’s regulations, professional standards, and SEC and GAAP reporting guidelines. Requires a bachelor’s degree in a related area and at least 10 years of experience in the field. Internal Auditor Reviews and determines effectiveness of controls, accuracy of financial records, and efficiency of operations for management in an organization. Requires a bachelor’s degree in accounting and 0-2 years of experience in the field or in a related area. Internal Auditor, Sr. Reviews and determines effectiveness of controls, accuracy of financial records, and efficiency of operations for management in an organization. Requires a bachelor’s degree in accounting and 4-6 years of experience in the field or in a related area. May lead and direct the work of others.
  • 11. 18 accountingprincipals.com/salaryguide 19 2017 Salary Guide 2017 Salary Guide BANKING FINANCIAL SERVICES Analyst, Buy Side Assists with preparation of weekly, monthly and quarterly financial analysis schedules of actual versus budget variances. Prepares detailed annual financial budget and monthly financial forecasts. Provides financial analysis support to various areas of the company. Bachelor’s degree in finance, business or a related field, and both practical experience and a proven track record of success within this field. Associate, Buy Side Identifies and advises on new invest- ment opportunities for the company. Assists in determining and negotiating the financial aspects of mergers and acquisitions. Collects and analyzes data to assist in corporate financial decisions. Ensures compliance with standard practices and protocols within the industry. A bachelor’s degree in accounting, economics, finance, or a related field is required for this position. Analyst, Sell Side Assists with preparation of weekly, monthly and quarterly financial analysis schedules of actual versus budget variances. Prepares detailed annual financial budget and monthly financial forecasts. Provides financial analysis support to various areas of the company. Bachelor’s degree in finance, business or a related field, and both practical experience and a proven track record of success within this field. Associate, Sell Side Identifies and advises on new invest- ment opportunities for the company. Assists in determining and negotiating the financial aspects of mergers and acquisitions. Collects and analyzes data to assist in corporate financial decisions. Ensures compliance with standard practices and protocols within the industry. A bachelor’s degree in accounting, economics, finance, or a related field is required for this position. Banking Operations Specialist Works in operations department for a financial institution. Ensures efficient delivery of products and services to clients. Assists manager to create polices and procedures. Requires a bachelor’s degree or its equivalent with 0-2 years experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on experience and judgment to plan and accomplish goals. Typically reports to a manager. Banking Operations Specialist, Sr. Works in operations department for a financial institution. Ensures efficient delivery of products and services to clients. Assists manager to create polices and procedures. Requires a bachelor’s degree or its equivalent with 3-5 years experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on experience and judgment to plan and accomplish goals. Typically reports to a manager. Banking Operations Specialist Manager Manages and directs the operations department for a financial institution. Ensures efficient delivery of products and services to clients. Develops and implements polices and procedures. Requires a bachelor’s degree or its equivalent with at least 8 years experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on experience and judgment to plan and accomplish goals. May lead and direct the work of others. Typically reports to a senior manager. Business Development Officer Sells commercial loan services to prospective clients. Responsible for the initial relationship with prospects and works with loan relationship manager to close selling process. Requires a bachelor’s degree in area of specialty and 3-5 years of experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on experience and judgment to plan and accomplish goals. A wide degree of creativity and latitude is expected. Typically reports to a manager or head of a unit/department. Client Service Representative Processes basic branch service trans- actions to ensure customer satisfaction. Requires a high school diploma or equivalent and 0-3 years of experience in the field or in a related area. Has knowledge of commonly-used concepts, practices, and procedures within a particular field. Relies on instructions and pre-established guidelines to perform the functions of the job. Works under immediate supervision. Client Service Representative, Sr. Processes basic branch service trans- actions to ensure customer satisfaction. Researches and resolves account issues or customer inquiries. Promotes organizational products and services by referring current or prospective customers to other departments within the organization. Requires a high school diploma or equivalent and 3-5 years of experience in the field or in a related area. Typically reports to a manager or head of a unit/department. Client Service Representative Manager Ensures customers or clients receive assistance in a helpful, efficient manner. Develops a training program that includes group training on-demand. Manages and supervises the client services unit. Develops, tracks and reports key performance measurements for the unit. Manages the assignment of work to team members while maintaining an appropriate load balance. Requires a bachelor’s degree and 5 years of relevant experience. Commercial Lending Specialist Create sales and growth for the company by granting loans to large commercial entities. The lender will offer products and services to various companies. The lender may work with current clients, follow leads, and carry out research in order to obtain new clients. The lender will meet with clients, present products, explain the loan process, and obtain the documentation necessary. The lender will also make determinations in order to decide whether a client should be granted a loan. Bachelor’s degree in banking, finance, or accounting preferred, with 2-4 years of prior experience in a lending position preferred. PUBLIC ACCOUNTING Audit/Assurance Services, Associate Helps with various complex auditing projects, not including information systems auditing. Ensures standard auditing practices are followed. Requires a bachelor’s degree with at least 3 years of experience in the field. Familiar with a variety of the field’s concepts, practices and procedures. Relies on experience and judgment to plan and accomplish goals. A wide degree of creativity and latitude is expected. Typically reports to a senior associate or manager. Audit/Assurance Services, Sr. Associate Leads a group of auditors in various complex auditing projects, not including information systems auditing. Provides oversight and guidance for auditors and may be responsible for training staff. Ensures standard auditing practices are followed. Requires a bachelor’s degree with at least 7 years of experience in the field. Familiar with a variety of the field’s concepts, practices and procedures. Relies on experience and judgment to plan and accomplish goals. Leads and directs the work of others. A wide degree of creativity and latitude is expected. Typically reports to a head of a unit/ department. Audit/Assurance Services, Manager Oversees the auditing of accounting and financial data of various departments within an organization. Assists in the design and administration of audit policy and procedure within the organization. May require a bachelor’s degree in area of specialty and at least 8 years of experience. Familiar with a variety of the field’s concepts, practices and procedures. Relies on extensive experience and judgment to plan and accomplish goals. Leads and directs the work of others. A wide degree of creativity and latitude is expected. Typically reports to top management. Audit/Assurance Services, Sr. Manager Directs the auditing of accounting and financial data of various departments within an organization. Designs, develops and implements internal auditing policy and procedures within the organization. Ensures accuracy and compliance with government guidelines and laws. Identifies improper accounting or documentation and makes recommendations for improve- ment to top management. May require a bachelor’s degree in area of specialty and at least 10 years of experience. Familiar with a variety of the field’s concepts, practices and procedures. Relies on extensive experience and judgment to plan and accomplish goals. Typically reports to top management. Tax Services, Associate Ensures compliance to timelines, infor- mation requests and legal requirements. Researches and explains tax information, needs and paperwork, offering advice. Uses software to enter data and file taxes for clients. Collects, validates and returns tax documents. Requires bachelor’s degree in accounting or finance, master’s degree in a relevant field preferred. Status as a Certified Public Accountant (CPA) may be required. Tax Services, Sr. Associate Ensures compliance to timelines, infor- mation requests and legal requirements. Researches and explains tax information, needs and paperwork, offering advice. Uses software to enter data and file taxes for clients. Collects, validates and returns tax documents. Requires bachelor’s degree in accounting or finance, master’s degree in a relevant field preferred. Status as a Certified Public Accountant (CPA) may be required. Tax Services, Manager Responsible for managing the tax reporting, tax planning, and compliance function. Oversees the completion of accurate tax returns in order to minimize the tax obligations of an organization. Must be familiar with regulations at the federal, state and local level. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Relies on experience and judgment to plan and accomplish goals. Manages the tax accounting staff and typically reports to top management. Tax Services, Sr. Manager Directs and oversees an organization’s tax policies and objectives. Monitors reporting and planning to ensure compliance with applicable tax statutes. Ensures accuracy of tax returns and works to minimize the organization’s tax obligations. Requires a bachelor’s degree with 7-10 years of experience in the field. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals. Leads and directs the work of others. A wide degree of creativity and latitude is expected. Typically reports to top management. Partner A chief executive of the firm or office. Recruits new clients and is ultimately responsible for accuracy of all audits, tax forms, and reports. Acts as the highest executive of the accounting firm to direct and determine the final decision on all its projects and activities. Status as a Certified Public Accountant (CPA) may be required. At least a bachelor’s degree in accounting or a related field is needed.
  • 12. 20 accountingprincipals.com/salaryguide 21 2017 Salary Guide 2017 Salary Guide Credit Analyst Specialist, Sr. Reviews credit data to evaluate com- mercial loan requests in order to approve or deny applications. Analyzes sources of financial information, such as reporting services, credit bureaus, other companies, main office files, and branches to deter- mine profitability of loan. Requires a bachelor’s degree in area of specialty and at least 5 years of experience in the field or in a related area. Credit Analyst Manager Ensures that approved accounts remain in good standing. Establishes terms for approved credit requests and assesses credit risk. Prepares reports with this credit information for use in decision-making. Analyzes current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. Director of Operations Directs all duties and functions of departments for a financial institution. Plans and accomplishes business objectives. Establishes standards for work-related policies and procedures. Requires a bachelor’s degree in area of specialty and at least 10 years of experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals. Leads and directs the work of others. A wide degree of creativity and latitude is expected. Typically reports to top management. Financial Planning Specialist Compiles and analyzes financial infor- mation for an organization. Develops integrated revenue/expense analyses, projections, reports and presentations. Creates and analyzes monthly, quarterly and annual reports and ensures financial information has been recorded accurately. Identifies trends and developments in competitive environments and presents findings to senior management. Performs financial forecasting and reconciliation of internal accounts. Requires a bachelor’s degree and 0-2 years of experience in the field or in a related area. Financial Planning Specialist, Sr. Compiles and analyzes financial infor- mation for an organization. Develops integrated revenue/expense analyses, projections, reports, and presentations. Creates and analyzes monthly, quarterly, and annual reports and ensures financial information has been recorded accurately. Identifies trends and developments in competitive environments and presents findings to senior management. Performs financial forecasting and reconciliation of internal accounts. Requires a bachelor’s degree in accounting or finance and may be expected to have an advanced degree in a related area with 4-5 years of related experience. Financial Planning Manager Responsible for managing financial analysis projects and statistical studies. Projects may include evaluation of potential investments and divestitures as well as general economic outlooks. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Familiar with a variety of the field’s concepts, practices, and procedures. A wide degree of creativity and latitude is expected. Relies on experience and judgment to plan and accomplish goals. Manages financial analyst staff and typically reports to top management. Fund Operations Specialist Monitors for problems, taking immediate action where possible and escalating when required. Helps work out the investment strategy that informs the fund’s day-to-day portfolio decisions. Interacts with clients, resolve problems, and provide information. Provides technical assistance to clients and staff. Bachelor’s degree and 0-2 years of experience required. Fund Operations Specialist, Sr. Monitors for problems, taking immediate action where possible and escalating when required. Plans out the investment strategy along with manager that informs the fund’s day-to-day portfolio decisions. Interacts with clients, resolves problems, and provides information. Performs, organizes and streamlines operational tasks to reduce the potential for errors. Provides technical assistance to clients and staff. Bachelor’s degree and 3-5 years of experience required. Fund Manager Helps work out the original investment strategy that informs the fund’s day- to-day portfolio decisions. Publicizes the fund, usually based on the proven experience and track record of the hedge fund manager or financial institution he or she works for. Communicates frequently with investors and provides constant updates to fund future growth strategies. Requires advanced, post-graduate business degrees as a foundation for their careers. Hedge Fund Accountant Utilizes accounting principles to differ- entiate special purpose funds from a general fund. Maintains records of stewardship of financial resources received and expended and other financial activities. Analyzes financial data in order to prepare financial reports in compliance with applicable regulations. Requires bachelor’s or master’s degree in accounting, business administration, or a similar field, CPA preferred. Hedge Fund Accountant, Sr. Collaborates with auditors. Estimates profits and losses, reconciles cash, and calculates payments. Prepares and maintains investment books, creating regular reports. Reviews, edits and corrects reports and analyses. Requires 3-5 years of knowledge in the field and experience with financial reporting. Commercial Lending Specialist, Sr. Responsible for soliciting and servicing a variety of commercial loans. Interviews applicants and recommends approval of customer applications for commercial loans. Analyzes applicant financial status and credit to determine feasibility of granting loan. Approves loan within established limits or refers loan to loan committee for approval. Verifies loan agreements are complete and accurate according to policy. Requires a bachelor’s degree in area of specialty and 4-6 years of experience in the field or in a related area. Commercial Lending Manager Manages a team of commercial loan officers. Responsible for soliciting and servicing a variety of commercial loans. Requires a bachelor’s degree in area of specialty and at least 8 years of experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on experience and judgment to plan and accomplish goals. A wide degree of creativity and latitude is expected. Typically reports to a manager or head of a unit/department. Commodities Analyst Specialist Analyzes inventory levels, production speed, and product demand to deter- mine the amount of finished product that will be produced. Determines the best metrics to use to provide the most accurate representation of the forecast. Works with other departments to determine optimal inventory levels. May require a bachelor’s degree with 2-4 years of experience in the field or in a related area. Commodities Analyst Specialist, Sr. Researches and monitors target companies and investment channels while applying the appropriate strategies for futures, commodities, and trading. Evaluates market movements and communicates their importance with clients and coworkers. Derives optimal transaction prices for clients and executes accordingly. Creates, maintains and expands relationships with suppliers and clients. A bachelor’s degree in finance, economics or a related field is typically the minimum educational requirement for this position. Commodities Analyst Manager Develops, implements and maintains a commodity inventory strategy that supports a company’s supply chain. Evaluates market conditions in order to maintain inventory levels and control costs. Evaluates and recommends vendors. Manages ongoing relationships with suppliers. Requires a bachelor’s degree in area of specialty and at least 7 years of experience in the field or in a related area. Compliance Specialist Oversees and coordinates the devel- opment, maintenance, implementation, and revision of policies and procedures and other documents for the operation of the organization’s compliance program. Requires a bachelor’s degree in area of specialty and 0-2 years of experience in the field or in a related area. Compliance Specialist, Sr. Oversees and coordinates the devel- opment, maintenance, implementation and revision of policies and procedures and other documents for the operation of the organization’s compliance program. Requires a bachelor’s degree in an area of specialty and at least 4 years of experience in the field or in a related area. May lead and direct the work of others. Compliance Manager Oversees and coordinates the devel- opment, maintenance, implementation, and revision of policies and procedures and other documents for the operation of the organization’s compliance program. Prepares compliance reports to present to management. Requires a bachelor’s degree in a related area and at least 7 years of experience in the field. Leads and directs the work of others. Consumer Loan Collector Receives installments on past due accounts, damage claims, or non-payable checks from customers. Requires a high school diploma or its equivalent and 0-2 years of related experience. Consumer Loan Collector, Sr. Receives installments on past due accounts, damage claims, or non-payable checks from customers. Requires a high school diploma or its equivalent and at least 5 years of related experience. Consumer Loan Collection Manager Manages and coordinates activities of workers engaged in conducting credit investigations and collecting delinquent accounts of customers of commercial establishments, department stores, banks or similar establishments. Requires a bachelor’s degree with at least 10 years of experience in the field. Consumer Loan Processor Performs clerical and administrative support activities related to obtaining loans for borrowers. Requires a high school diploma or its equivalent and 0-2 years of related experience. Consumer Loan Processor, Sr. Performs clerical and administrative support activities related to obtaining loans for borrowers. Requires a high school diploma or its equivalent and at least 3 years of related experience. Consumer Loan Processing Manager Manages consumer loan department of a financial institution providing services including vehicle loans, personal or unsecured lines of credit, home improvement and home equity loans, student loans, credit cards, etc. May require a bachelor’s degree and at least 5 years of experience in the field or in a related area. Credit Analyst Specialist Reviews credit data to evaluate commercial loan requests in order to approve or deny applications. Analyzes sources of financial information, such as reporting services, credit bureaus, other companies, main office files, and branches to determine profitability of loan. Requires a bachelor’s degree in area of specialty and 0-2 years of experience in the field or in a related area.
  • 13. 22 accountingprincipals.com/salaryguide 23 2017 Salary Guide 2017 Salary Guide Mutual Fund Accountant, Sr. Collaborates with auditors. Estimates profits and losses, reconciles cash, and calculates payments. Prepares and maintains investment books, creating regular reports. Reviews, edits and corrects reports and analyses. Requires 3-5 years of knowledge in the field and experience with financial reporting. Mutual Fund Accountant Manager Ensures work complies with both company and government regulations. Performs account reconciliation and reviews accounting records, identifies discrepancies, and determines their cause. Prepares and reviews financial reports and statements detailing the status of funds. Supervises the work of accounting department staff. Operations Manager Monitors and manages operational costs. Makes personnel decisions regarding hiring, compensation, promo- tions, discipline and termination of operational support staff in accordance with company policies. Manages the day-to-day company or department operations. Bachelor’s degree in management, business, finance, marketing or another relevant field required; master’s degree, especially an MBA, is a plus. Performance Analyst Collaborates with company adminis- tration to develop improvement plans. Identifies improvement opportunities for processes and performance and implements strategies. Examines company processes for errors, mistakes in decision-making, inefficiency, and other factors that contribute to negative performance. Runs training programs for staff to streamline processes. Portfolio Manager Analyzes daily investment activities (domestic and international) to ensure the success of portfolios. Requires a bachelor’s degree and 3-5 years of related experience and may require NASD series 6, 7, and 63 licenses. Pricing Analyst Estimates merchandise overhead and develops ways to reduce costs. Analyzes historical cost data in order to provide more accurate cost estimates. Communicates pricing information to associates. May require a bachelor’s degree in area of specialty and 2-4 years of experience in the field or in a related area. Familiar with standard concepts, practices, and procedures within a particular field. Relies on experience and judgment to plan and accomplish goals. Works under general supervision. A certain degree of creativity and latitude is required. Typically reports to a supervisor or manager. Private Banker Interacts with banking patrons to provide information and individualized customer service, including financial planning, loan processing, and other services. May require a bachelor’s degree and 0-2 years of experience in the field or in a related area. Private Banker, Sr. Interacts with banking patrons to provide information and individualized customer service, including financial planning, loan processing, and other services. May require a bachelor’s degree and at least 5 years of experi- ence in the field or in a related area. Private Banker Manager Manages a team of private banking officers who are responsible for individ- uals with high net worth. Responsibilities include overseeing maintenance of the private banking officers’ deposit and loan volume and ensuring policies and procedures are met. Acts as an advisor for complex credit decisions. May require a bachelor’s degree and at least 7 years of experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals. A wide degree of creativity and latitude is expected. Typically reports to a head of unit or department. Private Equity Accountant Assists in processing portfolio trans- actions, conducts research to identify investment opportunities and carries out due diligence analysis. Performs financial analysis on clients’ investment portfolios to determine potential returns. Presents results of analysis and portfolio decisions to clients and management. A bachelor’s degree in finance or a related field and excellent mathematics, statistics and data analysis skills. Private Equity Accountant, Sr. Collaborates with auditors. Estimates profits and losses, reconciles cash, and calculates payments. Prepares and maintains investment books, creating regular reports. Reviews, edits and corrects reports and analyses. Requires 3-5 years of knowledge in the field and experience with financial reporting. Private Equity Accountant Manager Ensures work complies with both company and government regulations. Performs account reconciliation and review accounting records, identify discrepancies and determine their cause. Prepares and reviews financial reports and statements detailing the status of funds. Supervises the work of accounting department staff. Product Control Specialist Oversees the resolution of system problems when they occur. Suggests updates in technology or equipment replacements to make production more efficient. Monitors production processes and computer programs to ensure they run reliably and accurately. A bachelor’s degree in a related field is required with 2-3 years of experience. Product Control Specialist, Sr. Maintains departmental day-to-day production activities, monitors and prioritizes workflow and schedules. Assists in supervising production staff and gives technical direction. Assists in hiring, training and reviewing perfor- mance of staff. Ensures product is in compliance with customer standards and ensures fulfillment goals. A bachelor’s degree in a related field is required with 3-5 years of experience. Hedge Fund Accountant Manager Ensures work complies with both company and government regulations. Performs account reconciliation and reviews accounting records, identifies discrepancies, and determines their cause. Prepares and reviews financial reports and statements detailing the status of funds. Supervises the work of accounting department staff. Managing Director, Buy Side Most senior leadership role within a traditional or alternative investment management firm (i.e. hedge fund or private equity firm). Individual may lead an internal function (i.e. Portfolio Management or Finance) and/or business strategy (i.e. Emerging Markets). Typically has 15 years or more of financial services industry experience and advanced degrees and/or qualifications within their chosen field. Managing Director, Sell Side Most senior leadership role within an investment banking organization or sell-side research firm. Individual will lead a broad business strategy (i.e. Credit Sales) or function within the organization, such as sales/ trading, finance, research, credit/risk, or operations. Typically has 15 years of financial/capital markets experience and advanced degrees and/or qualifications for their chosen field. Market Risk Analyst Performs risk analysis studies in order to maintain maximum protection of an organization’s assets. Investigates any incidences that may result in asset loss and compiles findings in reports for further review. Requires a bachelor’s degree and 2-4 years of experience in the field or in a related area. Familiar with standard concepts, practices, and procedures within a particular field. Relies on experience and judgment to plan and accomplish goals. Works under general supervision. Typically reports to a supervisor or manager. A certain degree of creativity and latitude is required. Mortgage Collector Receives installments on past due accounts, damage claims, or non-payable checks from customers. Requires a high school diploma or its equivalent and 0-2 years of related experience. Mortgage Collector, Sr. Receives installments on past due accounts, damage claims, or non-payable checks from customers. Requires a high school diploma or its equivalent and at least 4 years of related experience. Mortgage Collection Manager Manages and coordinates activities of workers engaged in conducting credit investigations and collecting on delinquent accounts of customers of commercial establishments, department stores, banks, or similar establishments. Requires a bachelor’s degree with at least 8 years of experience in the field. Mortgage Loan Closer Prepares papers and assembles docu- ments to close loans for borrowers. May require a bachelor’s degree in area of specialty and 2-4 years of experience in the field or in a related area. Mortgage Loan Originator Interviews loan applicants to elicit information, prepares loan request papers, verifies credit and bank references, and informs applicants whether loan requests have been approved or rejected. Requires a bachelor’s degree with at least 10 years of experience in the field. Mortgage Loan Processor Performs clerical and administrative support activities related to obtaining loans for borrowers. Requires a high school diploma or its equivalent and 0-2 years of related experience. Mortgage Loan Processor, Sr. Performs clerical and administrative support activities related to obtaining loans for borrowers. Requires a high school diploma or its equivalent and at least 3 years of related experience. Mortgage Loan Processing Manager Manages mortgage loan department of a financial institution. May require a bachelor’s degree and at least 5 years of experience in the field or in a related area. Mortgage Loan Servicing Clerk Performs a variety of clerical and administrative support activities related to mortgage loans, and utilizes related computer systems and software. Requires a high school diploma or its equivalent and 0-2 years of related experience. Mortgage Loan Servicing Clerk, Sr. Performs a variety of clerical and administrative support activities related to mortgage loans, and utilizes related computer systems and software. Requires a high school diploma or its equivalent with 2-4 years of experience in the field or in a related area. Mortgage Loan Servicing Manager Manages mortgage loan department of a financial institution. May require a bachelor’s degree in area of specialty and at least 5 years of experience in the field or in a related area. Mortgage Underwriter Reviews insurance applications to evaluate, classify, and rate individuals and groups for insurance. Accepts or rejects applications following an establishment’s underwriting standards. May require a bachelor’s degree in area of specialty and 0-2 years of experience in the field or in a related area. Mortgage Underwriter, Sr. Reviews insurance applications to evaluate, classify, and rate individuals and groups for insurance. Accepts or rejects applications following an establishment’s underwriting standards. May require a bachelor’s degree in area of specialty and at least 4 years of expe- rience in the field or in a related area. Mutual Fund Accountant Utilizes accounting principles to differentiate special purpose funds from a general fund. Maintains records of stewardship of financial resources received and expended and other financial activities. Analyzes financial data in order to prepare financial reports in compliance with applicable regulations. Requires bachelor’s or master’s degree in accounting, business administration or a similar field. CPA preferred.
  • 14. 24 accountingprincipals.com/salaryguide 2017 Salary Guide Product Control Manager Daily profit and loss review and produc- tion of weekly/monthly business packs, reports production plus enhancement/ expansion of scope of reporting and reviews, analyzes, and provides commentary. Other projects and queries as raised by senior finance and business unit management. Requires a bachelor’s degree in accounting or finance with 5-7 years product control experience. Regulatory Reporting Specialist Responsible for filing necessary appli- cations and handling all government interactions pertaining to the regulation process for products requiring govern- mental approval. Assists in developing procedures to ensure regulatory compliance. May require a bachelor’s degree in area of specialty and 0-3 years of experience in the field or in a related area. Has knowledge of commonly-used concepts, practices, and procedures within a particular field. Relies on instruc- tions and pre-established guidelines to perform the functions of the job. Works under immediate supervision. Typically reports to a supervisor or manager. Regulatory Reporting Specialist, Sr. Responsible for filing necessary appli- cations and handling all government interactions pertaining to the regulation process for products requiring govern- mental approval. Assists in developing procedures to ensure regulatory compliance. May require an advanced degree and 5-8 years of direct expe- rience in the field. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals. May lead and direct the work of others. A wide degree of creativity and latitude is expected. Typically reports to a manager or head of a unit/department. Regulatory Reporting Manager Oversees the regulation process for products requiring governmental approval, including filing necessary applications and handling all government interactions. Coordinates inspection of the organization and contract facilities, and develops procedures to ensure regulatory compliance. Requires a bachelor’s degree in area of specialty and at least 7 years of experience in the field or in a related area. Familiar with a variety of the field’s concepts, practices, and procedures. Relies on extensive experience and judgment to plan and accomplish goals. Leads and directs the work of others. A wide degree of creativity and latitude is expected. Typically reports to top management. Teller Processes a variety of routine financial transactions including check cashing, withdrawals, deposits and loan payments. Maintains appropriate level of cash on hand. Prepares daily paper- work according to branch procedures. Responsible for managing and balancing cash draw. Requires a high school diploma or equivalent and 0-1 years of experience. Has knowledge of commonly-used concepts, practices, and procedures within a particular field. Relies on instructions and pre-established guidelines to perform the functions of the job. Works under immediate super- vision. Typically reports to head teller. Vice President, Buy Side Leadership role within a traditional or alternative investment management firm, reporting to a Director. While function and area of expertise may vary, this individual typically manages a focused area of the business and leads a targeted team (i.e. Accounting). Typically has 10 years or more of financial services industry experience and appropriate educational require- ments for their chosen field. Vice President, Sell Side Leadership role within an investment banking organization or sell-side research firm, reporting to a Director. While function and area of expertise may vary, this individual typically manages a focused area of the business and leads a targeted team (i.e. Business Unit Control, Credit Risk Management, or Regulatory Reporting). Typically has 10 years or more of financial/capital markets experience and appropriate educational requirements for their chosen field. Wholesaler Proactively educates financial advisors/ registered representatives regarding company’s distributed products and benefits and makes recommendations to clients. Provides appropriate guidance to the financial advisors/ registered representatives regarding the company’s operating results and business strategies. Grows company’s market share within the territory through consultation with financial advisors/ registered representatives on company’s products. Maintains knowledge of company’s business and market performance/position in order to provide guidance to financial advisors/registered representatives related to company’s distributed products. A bachelor’s degree in business administration, logistics, finance, or a related field is required. FPO POCKET WITH BUSINESS CARD SLITS SEE INSTRUCTIONS PDF PROVIDED: API pocket instructions.pdf