Entry-Level Positions in Demand2013 EDITIONThe finance and accounting staffing firm,Accounting Principals, has developed a listof the entry-level finance and accountingpositions that are most in demand. The firmnoted that in this changing economy, collegegraduates with specialized skills in accountingand finance will find they have an advantagein their job search. Each of the positions thatmade the list is an essential function for allcorporations or a growth area due toregulatory reform.Accounting Careers:Hiring & Salary Trends2. AccountantMedian annual salary: 45,000 - 55,000Ideal background: Requires a bachelor’sdegree in accounting. The CPA (certifiedpublic accountant) certification earns moreopportunities and better pay.3. AuditorMedian annual salary: 50,000- 55,000Ideal background: Bachelor’s degree inaccounting or finance. CIA (certified internalauditor) certification commands better pay.Why it’s in demand: With the onslaught ofcongressional regulatory standards, theneed for auditors has skyrocketed. Whateverthe economic conditions, auditors areneeded to provide guidance in the operationand development of products, companiesand market sectors.4. Credit AnalystMedian annual salary: 44,700 - 46,000Ideal background: Bachelor’s degree infinance.Why it’s in demand: Economic uncertaintyis causing companies to continue to be waryof lending, so they are looking for individualswho can assess the credit worthiness of acompany or individual and advise a team ofbankers or relationship managers.Source: AccountingToday.com, May 2012Degrees in DemandOverall, employers expect to hire 13% more new college graduates from the Classof 2013 than they did in 2012. The graduates with the most job offers: 68% ofAccounting graduates; 65% of grads with an Engineering degree; 61% ofComputer Science graduates; 54% of Business Administration graduates; and52% of grads with a degree in Economics. The average salary offer by major: 60,431 for Engineering; 55,842 for Computer Science; 48,334 for Accounting; 46,241 for Economics; and 45,038 for Business Administration.Source: NACEweb.org, September 2012When Hernando Corteslanded in the New World,he brought horses, soldiersand his accountant, Alonso.ExploreAccounting!StartHereGoPlaces.com.a website for aspiringaccountants to explore.Inside this IssueFlorida Institute of Certified Public Accountants1. Financial AnalystMedian annual salary: 49,700- 51,000;with MBA: 55,000Ideal background: Candidates must havea bachelor’s degree in finance.Why it’s in demand: Public companiesacross need financial analysts forforecasting, preparing quarterly reviews andSEC documents. The growing internationaleconomy will drive demand for analysts whounderstand the complex environment.Why it’s in demand: Accounting regulationsare getting more complex and the economycontinues to fluctuate. Accounting is a vitalfunction for all business and is always indemand in either a strong or weak economy.Entry Level Positions in Demand1Degrees in Demand1Industries with Highest Demand2Starting Salaries in Florida Cities2Accounting Salaries by Job Title3National, Regional, State Job Trends4Best Firms to Work for in Florida5Credentials in Demand5New CGMA Designation5Making a Strong First Impression6Skills in Demand6
Making a Strong First ImpressionMaking a strong first impression really doesmatter in job interviews. A survey byAccountemps, which specializes in globaltemporary staffing services for accountingprofessionals, says a majority of interviewersform a positive or negative opinion of jobcandidates within 10 minutes. Very few human resourcesmanagers (10%) wait longer than 20 minutes to make up theirmind.they want answered as they sort through candidates: “Can theydo the job?”, “Do they want the job?”, and “Can I work withthem?”The question hiring managers learn the answer to first, in theearliest stage of an interview, is the last one. That’s why it’simportant for a job-seeker to establish a comfortable back-andforth with the interviewer. The meat of the interview shouldanswer whether a candidate can do the job. The end shouldanswer whether a candidate wants the job. “When people get tothe end of the interview, the No. 1 thing they should say is, ‘I’mreally interested in this job,’ as long as it’s true,” Warborg said.“They should say that with every ounce of sincerity.”Armed with that knowledge, job seekers should be on alert themoment they get out of their car, press an elevator button orcheck in at a reception desk. Josh Warborg, a district presidentat Accountemps, says interviewers have three main questionsSource: CGMA Magazine, September 2012Skills In DemandFor entry-level accounting positions, a degree in accounting is more important than ever. Prospective employers alsoare taking a closer look at grade point averages and campus involvement when evaluating early career professionals.Candidates with technology skills remain in demand. Advanced knowledge of Microsoft Excel and Access is valued byemployers across the board. Companies also seek professionals who can assist with upgrades of the most widelyused enterprise resource planning (ERP) systems. Experience with software packages such as Microsoft DynamicsGP (formerly Great Plains) and QuickBooks is often requested by small and midsize firms. Other sought-after skillsinclude financial reporting and analysis, forecasting, and budgeting.Organizations also look for accounting and finance professionals with outstanding interpersonal abilities. Employersneed staff skilled at communicating financial information using a variety of media for diverse audiences. When hiringfor these roles, employers often seek candidates with previous work experience, either through internships or part-timejobs during college.Source: 2013 Salary Guide: Accounting & Finance, Robert Half International Starting Salaries in FloridaThe figures provided in the following tables represent national averages of starting salary ranges based on thousands of jobplacements conducted in the United States through the offices of Robert Half International. Because the ranges represent startingcompensation only, such factors as bonuses, incentives and other forms of compensation are not taken into account. These rangesmay also vary according to type of industry, company size, local economy, employee benefits offered, and the education, experience,work ethic and skills of the job candidate. To calculate the approximate salary range for the following cities in Florida, multiply anysalary figure by the variance listed below.Florida VariancesFort Myers0.88Orlando0.99Jacksonville0.93St. Petersburg0.94Melbourne0.90Tampa0.97Miami/Ft. Laud1.07W Palm Beach1.00Source: 2013 Salary Guide: Accounting & Finance from Robert Half International Accounting Careers: Hiring & Salary TrendsPage 2
Accounting SalariesCorporate AccountingPosition0-1 yr experience1-3 yrs experienceManagerGeneral Accountant 36,250 - 51,750 41,000 - 65,000 61,500 - 109,250Treasury Analyst 37,500 - 55,000 44,250 - 71,250 64,500 - 117,000Cost Analyst 37,750 - 55,500 44,000 - 71,000 64,750 - 116,750Budget Analyst 37,750 - 55,250 43,750 - 71,250 64,000 - 116,500Financial Analyst 39,250 - 56,250 45,500 - 72,750 67,250 - 119,750Cost Accountant 41,250 - 53,750 46,750 - 66,000 70,500 - 108,500Tax Accountant 42,750 - 56,000 49,000 - 70,750 73,750 - 120,000Business Analyst 45,000 - 59,500 54,500 - 75,500 83,250 - 113,000Internal Auditor 45,500 - 60,250 52,750 - 77,000 81,500 - 132,250Financial Reporting 46,000 - 60,750 57,500 - 77,750 91,000 - 136,750IT Auditor 50,750 - 70,500 62,250 - 89,500 94,750 - 146,250Back-Office ctions 29,750 - 45,750 38,500 - 99,000Bookkeeping 29,250 - 59,250n/aAR/AP 29,000 - 44,250 39,250 - 76,500Payroll 29,250 - 43,750 39,500 - 85,500Public AccountingArea0-1 yr experience1-3 yrs experienceManagerAudit/Assurance Services 43,250 - 64,500 49,500 - 77,000 74,750 - 126,500Management Services 44,250 - 66,250 49,750 - 77,750 74,500 - 126,750Tax Services 43,250 - 67,750 49,000 - 78,000 74,750 - 128,500Financial ServicesArea1-3 yrs experience3-5 yrs experienceManagerFinance & Accounting 43,500 - 70,250 59,250 - 91,250 70,750 - 117,250Operations 37,000 - 52,500 49,750 - 77,750 55,250 - 80,250Risk & Compliancen/a 61,000 - 78,000 63,500 - 126,750Banking & Financial Markets 43,500 - 82,000 55,500 - 105,500 103,250 - 271,000Source: 2013 Salary Guide: Accounting & Finance from Robert Half International Accounting Careers: Hiring & Salary TrendsPage 3
National Job TrendsEmployment of accountants and auditorsis expected to grow by 16% between2010 and 2020, which is about as fast asthe average for all occupations.There has been an increased focus onaccounting in response to corporatescandals and recent financial crises.Stricter laws and regulations, particularlyin the financial sector, will likely increasethe demand for accounting services asorganizations seek to comply with newstandards. Additionally, tighter lendingstandards are expected to increase theimportance of audits, as this is a key wayfor organizations to demonstrate theircreditworthiness.Also, the continued globalization ofbusiness should lead to more demandfor accounting expertise and servicesrelated to international trade andinternational mergers and acquisitions.Accountants and auditors who haveearned professional recognition,especially as Certified Public Accountants(CPA), should have the best prospects.Job applicants who have a master'sdegree in accounting or a master's degreein business with a concentration inaccounting also may have an advantage.However, competition should be strongfor jobs with the most prestigiousaccounting firms.Industries with the highest levels ofemployment for accountants and auditorsare:24% Financial Services8% Finance and Insurance7% State and Local GovernmentRegional Job TrendsIn the South Atlantic region (Delaware, DC, Florida,Georgia, Maryland, North Carolina, South Carolina,Virginia and West Virginia), the fastest growingindustries for accountants vernment5-MedicalFinancial positions in top demand for this region:1-Senior Accountant 4-Senior Financial Analyst2-Staff Accountant5-Controller3-Financial AnalystSource: www.roberthalffinance.comThisWayToCPA.comA websitegeared forcollegeaccountingstudentsandCPA examcandidatesAccounting Careers: Hiring & Salary Trends6% Manufacturing6% Management ofCompanies/EnterprisesThe national median annual wage foraccountants and auditors is 61,690. Themedian wage is the wage at which halfthe workers in an occupation earned morethan that amount and half earned less.The lowest 10 percent earned less than 38,940 and the top 10 percent earnedmore than 106,880.Most accountants and auditors work fulltime. One in five accountants works morethan 40 hours per week. Longer hours aretypical at certain times of the year, suchas at the end of the budget year or whentaxes are due.Source: www.bls.govFlorida Job TrendsThe number of accountants employed in Florida isprojected to grow an average of 2.4% between2011 and 2019, faster than the 1.6% growth ratefor all occupations in Florida. “Accountant” jobswith highest number of openings advertised onlineat the end of 2012 in Florida:1-Accountants6-Auditors2-Financial Advisors7-Tax Preparers3-Loan Officer8-Cost Estimators4-Financial Analysts9-Credit Analysts5-Tresurers/Controllers10-Tax ExaminersThe counties in Florida with the most “Accountant” job openingsadvertised online during the same period:1-Hillsborough 6-Duval2-Miami-Dade 7-Pinellas3-Palm Beach 8-Seminole4-Broward9-Brevard5-Orange10-LeeIn Florida, the annual earnings in 2012 for an entry-levelaccountant was 40,431, which is equivalent to an hourly wageof 19.43. The median annual wage or salary for experiencedaccountants was 79,920 per year, or 38.43 hourly.The Florida industries that employed the largest number ofaccountants were Accounting/Bookkeeping Services,Companies/Enterprises and Colleges/Universities.Source: www.employflorida.comPage 4
Best Companies to Work For in FloridaFlorida Trend is a monthly publication of Florida businesswhich partnered with the Best Companies Group, to identifyFlorida’s best employers for their annual “Best FloridaCompanies to Work For” list. Their survey covered companypolicies, practices and demographics which included: leadershipand planning; corporate culture; communications; rolesatisfaction; work environment; relationship with supervisor;training and development; pay and benefits; and overallengagement.Three accounting firms were on their list of 33 BEST SMALLcompanies:1 - Ennis, Pellum & Associates CPAs2 - Prida Guida & Company3 - Markham Norton Mosteller Wright & CoFive accounting firms stand out among the BEST MIDSIZEcompanies (50-249 employees):1 - Cross, Fernandez & Riley2 - Gregory, Sharer & Stuart CPAs3 - Berkowitz Dick Pollack & Brant4 - Warren Averett O’Sullivan Creel5 - Averett Warmus Durkee OsburnThe BEST LARGE accounting firm (250 employees) in thenation, according to Accounting Today, is Kaufman, Rossin &Company, located in Miami.Sources: Florida Trend and Accounting TodayCredentials in DemandThe Certified Public Accountant (CPA) designation continues to inspire confidence in employers and remains the mostfrequently requested and versatile credential. CPAs who have experience with a Big four accounting firm are inparticularly high demand. As technology and finance continue to overlap, the Certified Information Systems Auditor(CISA) designation is increasingly sought. Other valued certifications include the Chartered Financial Analyst (CFA),Certified Internal Auditor (CIA), Certified Management Accountant (CMA), Chartered Global Management Accountant(CGMA) and Certified Payroll Professional (CPP).Source: 2013 Salary Guide: Accounting & Finance, Robert Half International Global Competition and the New CGMA DesignationAround the world, organizations are racing to keep up withglobal competition and the increased risks surrounding day-today operations. So now, more than ever, organizations arerelying on management accountants to apply knowledge offinancial analysis and understanding of non-financialinformation to help make vital business decisions.Management accounting is a mix of financial analysis andbusiness strategy, combining quantitative and qualitative dataanalysis to influence decision making and drive long-termbusiness success. The financial accounting part includesresponsibilities such as: Reporting financial performance Understanding impact of financial laws, standards andregulations Providing perspective on compliance issues.The business strategy part includes: Exploring business opportunities Providing solutions to potential obstacles Influencing best practices in decision making.This means management accountants are equipped to shapeboth short- and long-term business plans, provide insightAccounting Careers: Hiring & Salary Trendsthroughout the decision-making process and maintain oversightand control of what funding and resources comes in and out ofan organization.The new Chartered Global Management Accountant (CGMA)designation is now being offered to those that have theexperience and expertise to optimize an organization’s longterm performance.The CGMA was created by the American Institute of CertifiedPublic Accountants (AICPA) and the Chartered Institute ofManagement Accountants (CIMA) through a joint venture thatcollectively represents more than 550,000 accountingprofessionals and students throughout the world. The twoorganizations are working together to increase internationalawareness of management accounting and what those with theCGMA designation will do to drive successful businessperformance. “Leveraging the strength of CPAs and expandingawareness of their role in organizations worldwide, the CGMAwill showcase designation-holders’ management accountingexpertise and serve as a complement to the knowledge, skillset and commitment to the code of conduct CPAs alreadyhave,” said Barry Melancon, CPA, CGMA, president and CEOof the AICPA.Source: ThisWaytoCPA.comPage 5
FICPA Internship DatabaseThe Florida Institute of CPAs (FICPA) launched a new studentinitiative – the Internship Opportunity Engine. It providesFICPA student members with a web-based directory ofinternships available in Florida as well as a place for FICPAemployer members to post positions. FICPA membership isrequired to use the site and the service is free.Access the directory at www.ficpa.org, Future CPAs. The firstphase of the database is for students searching for internships.Subsequent versions will include entry level jobs (positionsrequiring one year or less of experience) and the ability foremployer members to search for student candidates.Student internships are an invaluable part in the process ofbecoming a CPA. Internships give students practical experienceand a way to see how concepts and principles learned in classare applied every day to accounting and business. Being in theworkplace gives you an opportunity to find out if employers, aswell as an area of practice, are right for you.Students should use the many resources available. such ascareer centers and job assistance services on campus. MostColleges of Business also have career or other networkingevents for students. The FICPA internship directory isn’tdesigned to compete with campus programs but is anotherresource for students seeking internships. Unlike campusprograms, the directory will help students find internships acrossFlorida.“As a student, it would have been so nice to have an onlineresource available for searching through accounting internshipopportunities. In the past, the best way to find an internship wasto go through the “formal” recruiting process oftentimesbeginning with a job fair.”, said Maclain Benton, a businessmanager at Florida State University and a young CPA. “Thenew database will enable students to browse throughopportunities with ease and will hopefully provide a wider rangeof firms and businesses with internship opportunities that maybedid not have the resources to recruit the “old fashioned” way!”Source: Florida CPA Today, Jan/Feb 2013Benefits of Student Membership in the FICPAInternship Opportunity Engine: Search online database for accounting internships throughout the stateScholarships: Apply for an FICPA scholarship available through the FICPA Educational FoundationCPA Exam Review discounts: Receive discounts on the purchase of exam preparation materials from Gleim or BeckerCPA Exam information: Get the latest information and resources on the CPA examLocal FICPA Chapter meetings: Meet potential employers and young CPAs at meetings near your school or hometownYoung CPA Network: Join the YCPA network (free) and network with young CPAs at local eventsFlorida CPA Today magazine: Find out the latest news affecting the profession in Florida and beyondFICPA Sections: Join (free) one or more online communities to learn more about the real world issues affecting CPAs dailyResume building: Enhance your resume through membership with Florida’s only association committed to the CPA professionFICPA: Dedicated to preparing the CPAs of tomorrowPost Office Box 5437Tallahassee, FL 32314Phone: (850) 224-2727Fax: (850) mbership for college accounting students isFREE! College accounting professors may join ata special, discounted rate.To join or find out more, contact our FICPAMember Service Center at (800) 342-3197 or viaemail at [email protected] Careers: Hiring & Salary TrendsHelpful WebsitesFlorida Institute ofCertified PublicAccountantsThe Florida Institute of Certified PublicAccountants serves as the association for allCPAs certified in the state. Founded in 1905, theFICPA has been working to advance theaccounting profession in Florida for more than 100years and now has more than 18,000 members.Continued membership growth and renewal hasmade the FICPA one of the largest CPAorganizations in the United States.AccountingToday.comAICPA.orgAmerican Institute of CPAsBLS.govBureau of Labor StatisticsCPA-Exam.orgFor the Uniform CPA ExamEmployFlorida.comFlorida’s job-match isWaytoCPA.comPage 6
3-Palm Beach 8-Seminole 4-Broward 9-Brevard 5-Orange 10-Lee In Florida, the annual earnings in 2012 for an entry-level accountant was 40,431, which is equivalent to an hourly wage of 19.43. The median annual wage or salary for experienced accountants was 79,920 per year, or 38.43 hourly.