The labor market for accounting, finance and information technology professionals has been experiencing unprecedented demand the past few years. Professionals are needed so much so that businesses are going out of their way to attract and retain quality talent for their accounting, finance and IT teams—often times offering competitive salary and benefits packages.
It’s important for both the professionals working in and seeking new positions, and hiring managers looking to make new hires for their teams, to know the average salary ranges expected for the roles in the coming year.
Recently, Brilliant published its 2018 Salary Guides for accounting, finance and IT for the greater Chicago and south Florida markets based off market research, analysis gathered from the temporary and direct-hire placements the firm made over the past year, the Bureau of Labor Statistics and other trade resources.
I thought the information obtained was very beneficial and I wanted to share with you some of the important findings that came from the published guides.
Take a look at the 3 Accounting, Finance and IT Salary Trends to Anticipate in 2018 highlighted below.
1. Accounting and Finance Wages Expected to Increase
According to Brilliant, accounting and finance roles will see an average increase of 3.5 percent in 2018. This increase will include a variety of positions and levels from operational support to tax services to c-level executives. Further, the increases will be seen across both corporate and public accounting businesses.
2. Information Technology Compensation Expected to Increase
In addition to accounting and finance positions, IT roles will see an increase as well. In 2018, database administration, data security roles and software development, among other IT positions—from entry level through c-suite—will see an average increase of 3 percent. IT professionals with specialized skills and certifications will see even higher increases in their base salaries.
3. Increases to last long into the future
According to the Bureau of Labor Statistics, accounting and finance professionals will see 11 times more gain over other professions between now and 2024. Further, Computer and Information Technology positions will see a 12 percent growth, and Computer and Information Systems Manager positions will see a 15 percent growth, between now and 2024.
The outlook for accounting, finance and IT professionals is very positive for the foreseen future and the demand for these roles is at the highest point we’ve seen in recent history.
What are your thoughts on the salaries slated for accounting, finance and IT professionals in 2018? Comment below and let us know!