Accounting salaries are estimated to rise 4.7% nationally in 2016, according to accountingweb. Competition is strong for a small pool of qualified candidates, leading employers to boost compensation to attract top talent.
This national projection applies to general accountants, payroll, billing, accounting support, financial and business analysts, and specialized accountants with revenue recognition, risk and compliance, GAAP, and US Securities and Exchange Commission reporting experience.
In corporations, positions that expect to exceed the 4.7% increase are senior internal audit and general accountant managers, analyst managers and senior financial and business analysts. In public accounting, tax managers in large firms and senior managers in management services are expected to see compensation rising above the 4.7% projection.
Among the other findings, baby boomer retirements are contributing to the trend, driving a demand for senior level professionals. Banks are hiring relationship managers and mortgage companies are hiring operations and compliance personnel. Unemployment rates for these positions are far below the national average.
In Dallas, according to Salarygenius, the average salary for accounting and finance professionals is $53,841. New entries in the field are starting near $44,340, and professionals with experience can potentially earn about $63,343.
The average yearly salary range is $43,073 – $64,610 and the average hourly wages are $19 – $29, with top earners earning up to $76,011 and $34, respectively. The projected 4.7% national increase would drive the average salary range in Dallas up to $45,097 – $67,646.
The average salary for accounting and finance professionals in Fort Worth according to Salarygenius is $45,194. New entries in the field are starting near $37,219, and professionals with experience can potentially earn about $53,170.
The average yearly accounting salaries range from $36,155 – $54,233 and the average hourly wages are $16 – $24, with top earners earning up to $63,803 and $28, respectively. The projected 4.7% national increase would drive the average salary range in Fort Worth up to $37,854 – $56,782.