Sneak Peek at Finance & Accounting Salaries Set to Spike in 2016

finance and accounting salaries 2016

2016 is going to be a big year – you can already tell!

Whether you’re at a point in your life where you’re looking to switch careers or you’re just looking to get your foot in the door of the financial sector, there’s good news! Several finance and accounting salaries are projected to increase over the next year, according to the 2016 Salary Guide for Accounting and Finance.*

The annual report released by international staffing agency Robert Half discloses industry trends and salary predictions for more than 400 finance and accounting positions, based on the thousands of job placements they make each year as well as surveys of chief financial officers (CIOs) and hiring managers.

You’ll be happy to hear that the average year-over-year increase for starting salaries in this field is 4.7 percent. It’s clear there is exciting growth across the board, but hone in on the top 10 finance and accounting salary increases expected in 2016.

1. Compliance manager

Projected 2016 salary growth: 5.3%

2016 average salary forecast: $105,000

A compliance manager oversees operations in a company to ensure they meet laws, regulations and industry standards. They may perform audits to ensure a company is complying by these restrictions and to ensure the accuracy of financial statements and reports.

Most compliance managers have a bachelor’s degree in a related field, such as finance or economics.

Demand for compliance managers is projected to grow 3 to 7 percent through 2022.

2. Corporate general accountant

Projected 2016 salary growth: 5.1%

2016 average salary forecast: $60,125

A corporate general accountant prepares and examines many financial documents to ensure their accuracy. They oversee a company or organization’s financial operations and ensure funds are being used efficiently. They also ensure that financial operations comply with laws and regulations.

Most accountants have a bachelor’s degree in accounting.

Demand for accountants is projected to increase 13 percent through 2022.

3. Finance analyst

Projected 2016 salary growth: 5%

2016 average salary forecast: $70,750

A finance analyst provides insights and guidance to a company or client making financial decisions. They assess a variety of investments to determine their value and performance and study financial trends to make recommendations for future investing.

Most finance analysts have a bachelor’s degree in finance, accounting, economics, mathematics or engineering.

Demand for finance analysts is projected to grow 15 to 21 percent through 2022.

4. Public tax accountant

Projected 2016 salary growth: 5%

2016 average salary forecast: $71,000

Tax accountants work entirely on tax documents. They may work for a firm or on their own, preparing taxes for clients. Unlike other accountants, a public accountant, such as a public tax accountant, can perform audits, review statements and represent their clients for the IRS.

A public tax accountant needs a bachelor’s degree in accounting, experience working in accounting and a passing grade on the CPA exam.

Demand for accountants is projected to increase 13 percent through 2022.

5. Business intelligence analyst

Projected 2016 salary growth: 4.9%

2016 average salary forecast: $88,750

A business intelligence analyst primarily analyzes raw data to increase a business’ profits or improve efficiency. They scrutinize trends, patterns and conditions founds in data to make their recommendations to a company. They may use software to analyze a company’s internal information, or they may delve into a competitor’s data to see where improvements can be made.

Most business intelligence analysts have a bachelor’s degree and some have a master’s degree in computer science or business.

Demand for business intelligence analysts is projected to grow 3 to 7 percent through 2022.

6. Finance controller

Projected 2016 salary growth: 4.9%

2016 average salary forecast: $139,125

A finance controller oversees all financial activity for an organization, including financial reporting, accounting and payroll duties. They may also develop internal financial policies, such as creating budgets and financial forecast reports.

Most finance controllers have a bachelor’s or master’s degree in accounting, finance or economics.

Demand for finance controllers is projected to grow 8 to 14 percent through 2022.

7. Corporate cost accountant

Projected 2016 salary growth: 4.7%

2016 average salary forecast:  $61,625

A corporate cost accountant determines the cost of a company’s products and processes to accurately report the amounts on financial statements.  They may make recommendations to management in terms of spending.

Most cost accountants have a bachelor’s degree in accounting.

Demand for accountants is projected to increase 13 percent through 2022.

8. Credit analyst

Projected 2016 salary growth: 4.5%

2016 average salary forecast: $87,375

A credit analyst works with customers and clients to examine their finances and determine the risk of lending money. They research the borrower’s financial history to determine the likelihood of a return on credit borrowed.

Most credit analysts have a bachelor’s degree in finance, economics or business.

Demand for a credit analyst is projected to grow 8 to 14 percent through 2022.

9. Fund manager

Projected 2016 salary growth: 4.4%

2016 average salary forecast: $156,875

A fund manager oversees investments and operations for a company or client. They direct investment activities and are responsible for the financial health an organization. They also research investment opportunities in order to create the most profitable investments.

Most fund managers have a master’s degree or a bachelor’s degree in finance, accounting, economics or business administration.

Demand for fund managers is projected to grow 3 to 7 percent through 2022.

10. Cost analyst

Projected 2016 salary growth: 4.3%

2016 average salary forecast: $63,750

A cost analyst assists management by creating cost estimates for specific projects or services in which a company may be interested. They may work with engineers, consultants or clients to negotiate costs. They also examine a product’s effectiveness for a company.

Most cost analysts have a bachelor’s degree in business, finance, mathematics or an industry-related field.

Demand for cost analysts is projected to increase 22 percent or higher through 2022.

It all adds up

It’s hard to ignore these growing finance and accounting salaries!

Whether you’re feeling motivated by high-potential finance wages or are intrigued by healthy accounting earnings, keep in mind that both will likely be on the rise over the next year in a variety of positions.

There’s no denying the exciting opportunities that lie ahead for both fields. So why wait to start taking advantage of it?

Visit the Rasmussen College School of Business page to learn how earning a degree will help you take the next step toward becoming eligible for one of these careers.


*Average salaries taken from the Robert Half 2016 Accounting and Finance Salary Guide. This data represents national, averaged earnings for the occupations listed and includes workers at all levels of education and experience. It does not represent starting salaries and employment conditions in your area may vary.

External links provided on Rasmussen.edu are for reference only. Rasmussen College does not guarantee, approve, control, or specifically endorse the information or products available on websites linked to, and is not endorsed by website owners, authors and/or organizations referenced.

Kristina is a Content Marketing Specialist at Collegis Education who researches and writes content on behalf of Rasmussen College. She hopes her content helps enlighten and engage students through all stages of their education journeys.

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