As an active staffing professional for the past 20+ years, I’ve witnessed firsthand the ups and downs of the economy and the labor markets. Specifically, I have witnessed a number of changes in the accounting, finance and information technology professions over the last 20 years. I’ve seen wages fluctuate, positions disappear, business models become disrupted and corporate culture shifts to meet the evolving generational workforce. Lastly, I’ve watched new technologies emerge and impact it all in ways many of us never anticipated.
As a result, I’ve learned to leverage my resources and stay as current as possible with important information affecting my profession. I’ve stayed close to my network so that I can maintain a pulse on new trends before they come to fruition. Overall, I’ve done a lot on the front end so that I could be prepared and armed with enough data to navigate the every-changing corporate climate. Data and information has been a key to leading our business.
Our company Brilliant can be your resource for such information, as well.
Today, we’re in a candidate-driven market and that means that businesses have become challenged in finding available quality talent to fit within their expanding teams. As a result, accounting, finance and IT professionals have many options which can be challenging for companies competing for the same scarce resource.
Recently, Brilliant released its 2017 Salary Guides based off market research and other proprietary data collected by our firm to determine important compensation trends.
I summarized the highlights in the 4 Salary Trends to Look For in 2017 below:
1. Accounting and Finance Compensation to Increase
According to Brilliant, accounting and finance roles will see an average increase of about 3 percent in 2017. This includes a variety of positions from operational support to tax to audit to Chief Financial Officer. Both corporate and public accounting roles will see this increase, as well.
2. Information Technology Compensation to Increase
In addition to accounting and finance roles, information technology positions will see we an even higher increase in salaries–closer to 4 percent. This includes positions in database administration, software development through Chief Information Officer. Professionals with specialized skills and certifications will see even higher increases in base salaries.
3. Nationwide to Increase
While each market will see varied percentages of increases, our research indicates that greater Chicago and south Florida areas will see salary increases for accounting, finance and IT professionals, and the Bureau of Labor Statistics reports similar increases across the country.
4. Compensation Packages Expand
Due to the candidate-driven market, hiring companies will look to expand their compensation packages to include more flex-time and other work-life-balance benefits in the coming year.
Brilliant is dedicated to keeping you updated, and we’re constantly compiling and analyzing data so that we can bring you up to speed with the latest market trends, compensation data and hiring statistics out there. We want you to be able to fully assess your worth in the coming year. To download the 2017 Brilliant Salary Guides, click here or call 312.582.1800 and mention this blog.
What are your thoughts on the salaries slated for accounting, finance and IT professionals in 2017? Comment below and let us know!