2015 Salary Survey

Happy New Year! 2015 is upon us, and with that, there are updates to salaries in finance and accounting. The compensation trends change every year and with the fluctuating economy, you need to be on top of your game when negotiating salary numbers.

Looking to learn more about what salary expectations should be? Casey Accounting and Finance Resources can help! We have compiled our salary survey list with updated facts and figures including job descriptions for Finance and Accounting positions for  the Chicago metropolitan area.

Contact us today and we will be happy to share this with you.  In the “YOUR MESSAGE” section, please enter “2015 Finance Salary Survey”.  Best wishes to you in 2015!

Hiring Trends to Anticipate in Accounting for 2015

As we begin 2015, companies are preparing their budgets for the coming year. One thing they are preparing for is hiring new employees. Within the accounting industry, there are a couple of hiring trends that employers should anticipate for 2015. We will discuss them in this post so you can prepare to hire the best talent available for your open jobs.

Hot Accounting Jobs for 2015

In 2015, the following jobs in the accounting industry will be hiring in large numbers, so be sure your company is ready to bring in the best talent.

  • Staff accountant: salary range of $46,220-$60,882 with an average of $54,257
  • Accounts payable manager: salary range of $53,994-$95,575 with an average of $74,030
  • Payroll manager: salary range of $59,612-$102,132 with an average of $80,433
  • Collections specialist: salary range of $24,175-$42,828 with an average of $33,048
  • Tax accountant: salary range of $38,633-$59,592 with an average of $48,774
  • Mortgage loan processor: salary range of $39,252-$60,352 with an average of $34,623
  • Auditing director: salary range of $94,803-$180,574 with an average of $133,183
  • Compliance manager: salary range of $75,567-$95,467 with an average of $79,889
  • Financial reporting supervisor: salary range of $77,420-$124,639 with an average of $99,519
  • Business data analyst: salary range of $45,156-$70,331 with an average of $58,325

Salary Increases in Accounting

Within the accounting industry, there are a handful of jobs that are expected to see significant raises in salary once 2015 arrives. Those jobs and salary increases include the following:

  • Audit/Assurance Services at a midsize firm: Any professional in this position who has held the job for three years will see a raise of 2.9 percent, which is a range of $56,750-$74,750.
  • Tax Services Manager at a midsize firm: Any professional who works in this profession can expect to see a raise of 3.9 percent in 2015. The salary range will increase to $88,750-$123,250.
  • Management Service Professionals at large firms: People who have worked this job for at least three years can see a salary increase of 3.1 percent in 2015. The salary range will increase to $65,750-$82,500.
  • Senior Manager/Director in Audit/Assurance Services at a small firm: These professionals can see a 3.6 percent salary increase that will move the range to $94,250-$134,500.
  • Bookkeepers at firms of all sizes: Raises of 3.0 percent in 2015 are expected for these professionals to increase the salary range to $40,750-$61,250.

As you prepare your budgets for 2015, you need to prepare for all of the hiring trends within accounting so you can bring in the proper talent for your firm.

Salary Expectations for Illinois Accountants and How to Negotiate Yours

Are you preparing for a job as an accountant in the state of Illinois? If so, this post is for you because we will discuss the salary expectations for accountants working in Illinois. We will also help you negotiate your salary, and it doesn’t matter if you are right out of college or preparing to make a move well into your career.

Accountant Salary Rates Rising in Illinois

The national average for an accountant’s salary is just over $47,000 per year. In Illinois, there are just nine major locations where an accountant’s salary is less than the national average. There are 21 major locations where the salary is more than the national average.

If you want to work in Chicago as an accountant, you can expect to make roughly $2,000 more than the national average for the position. The same can be said for those who want to work in Evanston and Orland Park.

If you want to work in Peoria, you can expect to make roughly $5,000 less than the national average. The same can be said for those who want to work in Springfield and Rockfield.

How to Negotiate for the Best Salary

After looking at the numbers for an accountant’s salary in Illinois, it is now time to figure out how to negotiate your own compensation. The first step in this process is putting together a list of your top priorities for the job. Write down 401(k), vacation time, benefits, base salary, bonuses,  scope of responsibilities, frequency of performance reviews and more.

Ask the hiring manager what the base salary for the position is and then provide a counter offer. In some instances, the offer made by the company will be the final dollar amount. In other instances, you will be able to negotiate the salary to a level that you think is acceptable.

One thing you must do prior to negotiating your salary is research. You need to figure out what the company has paid for the position in the past, what competing companies pay and if you have any degrees or certifications that would increase the salary paid to you.

As you prepare to work in the accounting field, you need to make sure that the salary is in line with your experience and prior compensation levels. A little bit of research can help in your negotiations for a higher salary at a new company.

5 Skills to Highlight in Your Accounting Resume

As you prepare to write a resume for your accounting career, it’s important to consider what to include or omit. Your resume will look different depending on whether you are right out of college or have been working for 15 years. Use the tips below to develop an outstanding accounting resume so that you will get noticed by the right hiring companies.

Discuss Technical Skills

One of the most important things you need to include on your accounting resume is that of your technical skills. Technical skills include proficiency in SAP, Oracle, Sage, and other high-level tools. Any financial software you know how to use should be listed on your resume in order for you to stand out from the crowd.

Include Accomplishments

What have you achieved in your previous employment? Show that what you have done in the past. Highlighting your accomplishments shows that you can take on more responsibility and be able to generate results. You won’t settle for doing average work.

Quantify Your Success

To tie in with those mentioned accomplishments, how strong was your success? Being able to show that your work resulted in an improvement of performance or a decrease in expenses for an organization shows that you will increase efficiency and be able to keep everything running smoothly.

Ability to Prepare Financial Statements

Another skill you should feature is the ability to prepare financial statements. Financial statements have many different segments and you need to discuss all of them on your resume. You need to show that you can handle the income statement, the balance sheet, the statement of retained earnings and the statement of cash flow.

Financial Analysis

The most successful accountants out there today are able to explain how well they perform financial analysis. When you work in financial analysis, you need to be detail oriented. If you want to find a job in the profession, your resume will need to have just as much detail, if not more. If you cannot properly define this skill on your resume, it will be difficult to land a job.

As you build a new resume, you need to highlight the skills mentioned above if you want to impress the hiring manager and receive an offer of employment. Work with your recruitment representative at Casey Accounting & Finance Resources to create an accounting resume that will work for you.

The Benefits of Using a Recruiter

Recruiters are becoming very popular these days with people who are looking for a new job, or their first job right out of college. In this post we will discuss the pros of using a recruiter for your job search.

The Benefits of Using a Recruiter

One of the most important pros that job seekers enjoy when using a recruiter is the fact that recruiters know many people and they love to help improve people’s lives by moving them into new career opportunities by performing their job of finding talented people for companies.

In most situations, recruiters will have a direct connection to the hiring manager at a company or organization. This means your resume and cover letter will make it to the top of the list when a trusted recruiter calls to tell them about you.

Another pro is it is an excellent use of your time. When you perform a job search on your own, you might get to talk to only three companies in the span of a week. However, when you work with a recruiter, he or she has access to many companies that potentially might be looking for someone with your job skills that the recruiter can reach over the  same time span.

One of the most popular pros to using a recruiter is that you may go on fewer fruitless interviews. This is because recruiters will be able to whittle down the jobs for which you are qualified. This prevents you from interviewing for jobs that you do not have enough experience for or for which you are overqualified.

One Final Pro of Using a Recruiter

There are some additional plusses when using a recruiter to find a job. Consider that you want to land with a company that can offer you more than just a salary. A recruiter has established many networks around the industry and region in which you work and live. They have connections with a good number of people who may never otherwise hear about your talents. When you work with a professional recruiter, you can tap into this benefit instead of hoping to be in the right place at the right time.

Why Having a Referral for an Accounting Job is so Important

You may not realize just how important it is to have a referral for an accounting job until you get passed over for a position by someone who has an inside contact at your dream company. If you enter a job search without having a referral, you could be putting yourself at a major disadvantage. Why is having a referral so critical to your success?

  • It gives you a chance to breeze through the application process faster than other candidates.
  • A referral can get your resume in the right hands of a hiring manager sooner than just waiting around for a response.
  • Direct referrals can give you added insight into what to expect in the hiring and interviewing process, so you have an advantage of correct interview preparation.

When searching for a new job, you should do everything possible to put yourself ahead of the pack, but make sure what you do is positive and does not negatively impact your search. We will discuss the importance of using a referral in an accounting job search here.

Using an Internal Referral

One of the most effective types of referrals for accounting jobs is that of the internal referral. This means that you will need to know someone working at the company where you want to apply for a job. Many companies today are using their employees to find their new hires because it can be less costly than traditional recruitment methods. This means that they rely strongly on their employees and trust their judgment when it comes to referring potential candidates. When you begin the search for an accounting job, think about all your friends and family members and where they work. One of them could turn out to be an internal referral for you.

Get Referred by a Staffing Agency

When you are registered with a staffing agency that has a relationship with multiple companies that hire accounting and finance professionals, you have a major advantage. Your resume goes to the top of the pile in most cases, the recruiter calls the hiring manager directly to promote you, or you may just be placed into an assignment right away. Once you prove yourself in a temporary accounting assignment, often this can lead to regular full-time employment at the client.

Referrals Push you to Top of the List

As with any type of job, having a referral in the accounting industry can push your resume to the top of the candidate list. Why does this happen? You would not refer someone for a job who might be shaky or might not have the experience needed for the job because it will reflect poorly on you. The same can be said for someone referring you for an accounting job. If you can acquire a referral, you will more than likely be called for an interview because you instantly have credibility in the search by the company for a new hire.

Personal Attention from the Employer

If you have a referral for an accounting job, it is likely that you will receive personal attention from the hiring manager or human resource executive. This happens because the person who referred you to the company probably handed your resume directly to the person who is hiring for the open position. This instantly increases your chances of being interviewed and offered the job. When you receive personal attention from the hiring manager, you are already ahead of the game.

Send a Referral Letter

Another important tip to consider is sending a referral letter to the potential employer. This will only help your cause in finding an accounting job. After your referral says he or she talked to the hiring manager about you, submit the letter to that person. Make sure you explain how you know the common connection and even offer a little bit about your background and experience in the letter.

Using a referral to find an accounting job can put your resume atop the list of candidates. Make sure you take advantage of this job search secret the next time you apply for a new job.