2021 Robert Half Salary Guide

Contents

2 Hiring Trends 31 Benefits and Perks

12 Using the Salary Tables 35 Resources

13 Salaries 37 About Us

28 Adjusting Salaries

The Salary Guide is solely for noncommercial use, and the copyright is the exclusive property of Robert Half International Inc. This guide shall not be reproduced or disseminated in any part without Robert Half’s written permission. © 2020 Robert Half International Inc. Quick Links Hiring Trends Hiring Trends Using the Salary Tables In challenging times in particular, businesses Financial staff key in uncertain times Salaries must be nimble and innovative. This has never been more true than today. Since the pandemic began, widespread business closures and sheltering advisories have caused Adjusting many industries to retrench. Others, however, Salaries Experts are urging the public to think long- term and accept that effects of the COVID-19 remain resilient. We are seeing hiring for pandemic may not end soon. Some economists financial staff in technology, healthcare, property Benefits management, financial services and roles that and Perks expect continued disruption, while others see a relatively stable new normal. In this environment, keep cash accounts strong — billing, accounts managers need guideposts. receivable and collections. Resources

Robert Half has been reporting hiring trends About Us and salary forecasts for 70 years. As the world’s leading specialized staffing firm, we are an of workers want to work authority on hiring in the accounting and finance remotely more often after professions. This guide covers the information 74% the pandemic.

managers need, including shifts our recruiters Source: Robert Half survey of more than 1,000 workers in the U.S. have identified in the industry and the starting salaries we expect to see for positions in 2021.

Hiring Trends In addition, companies are recognizing that Having to work remotely has further highlighted attracting and keeping capable accountants, the need for financial professionals with strong In-Demand Using the analysts and auditors is critical in helping them business acumen who collaborate effectively, Positions Salary Tables regain their footing. By finding inefficiencies especially on tasks like financial reporting. and making accurate forecasts, professionals Completing SEC-mandated filings of reports • Accounting manager Salaries like these can help stabilize a business’s such as the Form 10-Q for investors will take balance sheet. longer because financial staff must evaluate • Accounts receivable/accounts payable roles Adjusting the current and expected impact of COVID-19 Salaries on the business, as well as update disclosures • Controller when circumstances change. Sarbanes-Oxley of senior managers say • Financial analyst Benefits maintaining morale has compliance is also more complicated with • Internal auditor and Perks been challenging during teams working remotely. Finance departments 44% the COVID-19 pandemic. need more time to conduct proper reviews • Loan administrator Resources and gather appropriate evidence, requiring an Source: Robert Half survey of more than 2,800 • Payroll manager senior managers in the U.S. earlier start to controls reviews. About Us • Staff and senior accountant CFOs require expertise in process automation and financial system optimization to drive cost CPAs, risk analysts and internal auditors are efficiencies. Companies will also need help instrumental in guiding businesses to improve implementing strategies such as centralizing cash flow and navigate an uncertain future. accounting departments and processes, And payroll administrators make sure staff are reshoring previously offshored or outsourced paid on time and companies comply with new functions to mitigate risks, and moving some regulatory guidelines. operations to lower-cost areas.

Adjusting Salaries

Benefits and Perks

Resources Conducted Shortened the Advertised fully remote interviews hiring process remote jobs About Us and onboarding 42% 42% 54%

Multiple responses were permitted. Top responses are shown. Source: Robert Half survey of more than 2,400 senior managers in the U.S.

© 2020 Robert Half International Inc. 2O21 SALARY GUIDE | ROBERT HALF | 4 Quick Links Hiring Trends More than 8 Why managers say they are concerned Using the in 10 managers Salary Tables are concerned Employee morale has suffered. Salaries about retaining Employees are managing Adjusting valued employees. heavy workloads and Salaries face burnout.

Benefits and Perks Salaries have been cut with no plans for raises. Resources

About Us Staff are dissatisfied with management.

Employees have lost interest in working for the company.

Multiple responses were permitted. Top responses are shown.

Source: Robert Half survey of more than 2,800 senior managers in the U.S.

Hiring Trends Salaries expected to remain stable Soft skills needed for a shifting business landscape Using the While employers in some industries are Salary Tables reducing pay, permanent wage cuts in Unprecedented change is further driving the accounting and finance aren’t sustainable for need for accounting and finance staff with Salaries organizations that expect to retain their best sound critical-thinking skills who collaborate performers. Even with more professionals to effectively. But in these times, teams require choose from in the labor pool, in-demand steady reassurance. Business leaders must be Adjusting talent can still command competitive wages. Salaries empathetic, supportive and approachable. 37% Remote work no longer a remote Flexible staffing key to business Benefits and Perks possibility resilience of workers feel they are The pandemic has made work-at-home Departments that laid off employees still have underpaid in their current job. Resources arrangements a necessity for numerous work to be completed, yet they commonly businesses, including many accounting and only have resources to meet routine needs. Source: Robert Half survey of 2,800 workers in the U.S. About Us finance organizations that would have never To make sure they can accomplish all of their considered remote options in the past. The goals, employers are turning to flexible staffing, good news is that businesses and employees an adjustable mix of full-time and interim are finding this arrangement effective. Workers professionals. Organizations also work with are able to maintain high productivity levels, managed services providers who can oversee and, without geographic limits, companies and staff key initiatives, including addressing may now hire from virtually anywhere. New unforeseen issues, transaction backlogs and employees can begin working remotely on day one-time events demanding a rapid response. one with the latest technology tools and with the ability to support service needs around the world.

Hiring Trends These strategies allow managers to access Corporate and industry accounting specialized expertise and scale their teams as trends Using the needed, without overburdening full-time staff. Salary Tables Bright spots in a challenging business Experienced staffing professionals environment include the need for financial Salaries vital in trying times workers in these areas:

There are many people looking for work now. • Construction — in fast-growing cities Adjusting Add in recent graduates, and hiring managers and to handle projects funded prior to Salaries have plenty of talent options. This is a mixed the pandemic 21% blessing, though, because a job posting can Benefits now easily yield hundreds of applications, • Government — as firms replace and Perks and the hiring process can be more time- retirees and hire staff who can of workers are less likely to consuming and increase the demands on upgrade outdated infrastructure negotiate salary than a year ago. Resources already-busy managers. • Manufacturing — as companies Source: Robert Half survey of 2,800 workers in the U.S. About Us There is also the possibility that the people reshore production back to the United companies need most aren’t among those States applying. Many employed candidates are • Nonprofits — as communities rally hesitant to switch roles. That's why firms to help individuals and businesses in are getting help from specialized staffing need agencies that can handle the recruitment and hiring processes. These staffing • Trucking, shipping and logistics — to professionals often know of candidates keep up with increasing e-commerce who are open to new opportunities, even activities if they aren't actively searching.

Hiring Trends Many corporate finance departments that are activity, staff are needed to help borrowers unable to bring in new talent due to hiring with mortgage and loan modifications. Using the freezes are relying on interim professionals Institutions also need specialists in risk, Salary Tables for billing, accounts receivable, collections, compliance, audit, fraud and forensics. and financial planning and analysis. Salaries Besides hiring more workers, financial services Public accounting trends firms are upgrading their digital infrastructure to handle the surge in online banking. Adjusting Although many firms have furloughed staff, Salaries Automation is key, and more providers especially entry- and staff-level roles, there are investing in chatbots, robotics process 60% is still demand for public accountants. automation, AI and machine learning. Benefits Companies, particularly small and midsize and Perks businesses, need help to support clients with Healthcare trends of workers are more motivated to consumer assistance programs and changing work at a company that values its Resources compliance deadlines. Patients who canceled nonemergency staff during unpredictable times. procedures and routine care during COVID-19 About Us Financial services trends sheltering advisories are rescheduling, Source: Robert Half survey of 573 U.S. workers who said they've had career reconsiderations due to the COVID-19 prompting demand for medical billers and pandemic The banking, lending and investment processors. Tech-savvy accounting and finance industries are showing strong demand professionals are also needed as healthcare for accounting and finance professionals. organizations increase their virtual service In addition, as lower mortgage rates are offerings, including the use of telehealth. resulting in loan originations and refinance

Adjusting More frequent communication Salaries from leadership 38 % 37 Benefits % and Perks Improved collaboration 32 % 31 % Resources 30 More innovation %

About Us Greater transparency into business priorities

More efficient processes

Multiple responses were permitted. Top responses are shown. Source: Robert Half surveys of more than 2,800 senior managers in the U.S.

Adjusting Salaries Scale the team Evaluate for a Access as needed full-time role specialized skills Benefits and Perks 40% 39% 37%

Resources

About Us Add flexibility during Alleviate burden changing economic Access support on full-time staff conditions for special projects 32% 34% 34%

Multiple responses were permitted. Top responses are shown. Source: Robert Half survey of more than 160 HR managers in the U.S. who planned to increase their use of interim professionals © 2020 Robert Half International Inc. 2O21 SALARY GUIDE | ROBERT HALF | 10 Quick Links

Hiring Trends

Using the Salary Tables Key Technology Skills Key Soft Skills

Salaries • Cloud-based payroll and human resource • Ability to work independently, in virtual teams information systems • Attention to detail Adjusting • Data analytics, protection and privacy Salaries • Comfortable with change • Electronic health records • Commitment to continual learning Benefits • ERP systems and Perks • Creativity and innovation • Excel (advanced) • Customer service Resources • Financial modeling and forecasting • Problem solving • QuickBooks (for smaller businesses) About Us • Writing and verbal skills

© 2020 Robert Half International Inc. 2O21 SALARY GUIDE | ROBERT HALF | 11 Quick Links Hiring Trends Using the Salary Tables Using the Salary Tables Starting salaries for the positions listed in this guide do not include The 50th percentile represents the midpoint salary. The 95th bonuses, benefits and other forms of compensation. We break down percentile is typically reserved for candidates who are extremely Salaries pay rates into four percentiles to help you customize salary offers. difficult to find. A Robert Half staffing professional can help you The percentiles account for differences in a candidate’s level of determine where a particular role should fall within the salary Adjusting experience and skills, professional certifications, demand for the percentiles stated in the guide. Salaries role, and the size and complexity of the company that’s hiring.

Benefits and Perks 25th 50th 75th 95th Resources Candidate has little or Candidate has average Candidate has above-average Candidate has exceptionally strong no prior experience in the experience; has the majority of the experience and most or all of skills, expertise and experience, often About Us position; still developing necessary skills the necessary skills; may have over and above what is necessary; relevant skills specialized certifications has specialized certifications

Demand: Low Demand: Moderate Demand: High Demand: Very high

TITLE 25th 50th 75th 95th

Corporate Accounting Chief Financial Officer 122,000 203,750 241,250 500,500 Treasurer 112,500 193,750 233,750 486,750