2012 Hartford Salary Guide

2012 Sa

lary Guide

Creative Financial Staf�ng

www.cfstaf�ng.com

2012 CFS Salary Guide

Creative Financial Staffingwww.cfstaffing.com

The 2012 CFS National Salary Guide provides comprehensive data of base salaries for all levels of accounting and finance professionals in the United States.

We hope this guide will become a valuable resource in your ongoing discussions and planning for your accounting department.

Also included in the Salary Guide are the Local Market Multipliers and a Glossary of popular accounting and finance positions.

2012 | National Salaries

Understanding the Data

The CFS National Salary Guide displays the low, middle & high end of salaries of accounting and finance positions across companies of different sizes.

Our data is based on placements we’ve made throughout all CFS offices, accounting and finance professionals we’ve interviewed and the job orders we’ve received from clients.

Company Size Definitions

Small Companies: Companies with revenues upto $100 Million.

Medium Companies: Companies with revenuesbetween $100 Million and $500 Million.

Large Companies: Companies with revenues inexcess of $500 Million.

SAMPLE RECORD

Statistics and Terminology

First 20%: This figure represents the low 20% of our survey results. This data can also be viewed as the “low” end of the salary range.

Middle: This figure represents 60% of our survey results. This data can also be viewed as the middle salary range.

Upper 20%: This figure represents the top 20% of our survey results. This data can also be viewed as the “high” end of the salary range.


CFO/Treasurer* Under $206,000 $206,000-$309,000 Over $309,000VP of Finance* Under $154,500 $154,500-$257,500 Over $257,500Controller* Under $128,750 $128,750-$180,250 Over $180,250Assistant Controller* Under $92,700 $92,700-$133,900 Over $133,900

General Accounting DepartmentAccounting Manager Under $82,400 $82,400-$103,000 Over $103,000Senior Accountant Under $66,950 $66,950-$77,250 Over $77,250Staff Accountant (1-3 years) Under $51,500 $51,500-$61,800 Over $61,800Staff Accountant (up to 1 year) Under $41,200 $41,200-$51,500 Over $51,500

Tax DepartmentDirector of Tax* Under $164,800 $164,800-$206,000 Over $206,000Tax Manager Under $108,150 $108,150-$139,050 Over $139,050Tax Senior Under $77,250 $77,250-$92,700 Over $92,700Tax Accountant (1-3 years) Under $56,650 $56,650-$72,100 Over $72,100Tax Accountant (up to 1 year) Under $46,350 $46,350-$56,650 Over $56,650

Cost Accounting DepartmentCost Accounting Manager Under $87,550 $87,550-$108,150 Over $108,150Senior Cost Accountant Under $66,950 $66,950-$77,250 Over $77,250Cost Accountant (1-3 years) Under $56,650 $56,650-$66,950 Over $66,950Cost Accountant (up to 1 year) Under $46,350 $46,350-$56,650 Over $56,650


Position/Title Low Middle High

Large Companies


*Bonuses and incentives are a significant part of overall compensation at these levels and are not included in the CFS salary ranges.


Internal Audit DepartmentInternal Audit Director Under $175,100 $175,100-$216,300 Over $216,300Internal Audit Manager Under $103,000 $103,000-$128,750 Over $128,750Internal Audit Senior Under $69,525 $69,525-$92,700 Over $92,700Internal Auditor (1-3 years) Under $56,650 $56,650-$72,100 Over $72,100Internal Auditor (up to 1 year) Under $46,350 $46,350-$56,650 Over $56,650

AnalysisManager of Cost, Financial or Budget Analysis Under $92,700 $92,700-$113,300 Over $113,300Senior Cost, Financial or Budget Analyst Under $66,950 $66,950-$87,550 Over $87,550Cost, Financial or Budget Analyst Under $56,650 $56,650-$66,950 Over $66,950

OperationsAP/AR Manager Under $56,650 $56,650-$72,100 Over $72,100Payroll Manager Under $62,830 $62,830-$82,400 Over $82,400Billing Manager Under $56,650 $56,650-$72,100 Over $72,100AP/AR Clerk Under $38,625 $38,625-$43,775 Over $43,775Payroll Clerk Under $36,050 $36,050-$41,200 Over $41,200Billing Clerk Under $36,050 $36,050-$41,200 Over $41,200

Credit & CollectionsCredit & Collections Manager Under $61,800 $61,800-$82,400 Over $82,400Commercial Collector Under $36,050 $36,050-$54,075 Over $54,075

2012 | National SalariesLarge Companies







Medium Companies

2012 | National SalariesCreative Financial Staffing

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Medium Companies




Tax DepartmentTax Manager Under $77,250 $77,250-$108,150 Over $108,150Tax Senior Under $61,800 $61,800-$77,250 Over $77,250Tax Accountant (1-3 years) Under $46,350 $46,350-$56,650 Over $56,650Tax Accountant (up to 1 year) Under $41,200 $41,200-$48,925 Over $48,925



Small Companies


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OperationsFull Charge Bookkeeper Under $46,350 $46,350-$54,590 Over $54,590Bookkeeper Under $36,050 $36,050-$42,230 Over $42,230AP/AR Manager Under $41,200 $41,200-$51,500 Over $51,500Payroll Manager Under $48,925 $48,925-$61,800 Over $61,800

Accounting Clerk Under $30,900 $30,900-$41,200 Over $41,200AP/AR Clerk Under $30,900 $30,900-$36,050 Over $36,050Payroll Clerk Under $30,900 $30,900-$36,050 Over $36,050Billing Clerk Under $30,900 $30,900-$36,050 Over $36,050



Small Companies


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Large FirmsSenior Manager/Director* Under $113,300 $113,300-$175,100 Over $175,100Manager* Under $87,550 $87,550-$118,450 Over $118,450Senior (3+ years) Under $69,010 $69,010-$83,430 Over $83,430Staff (up to 3 years) Under $51,500 $51,500-$66,950 Over $66,950

Medium FirmsSenior Manager/Director* Under $103,000 $103,000-$144,200 Over $144,200Manager* Under $82,400 $82,400-$103,000 Over $103,000Senior (3+ years) Under $61,800 $61,800-$77,250 Over $77,250Staff (up to 3 years) Under $46,350 $46,350-$56,650 Over $56,650

Small FirmsSenior Manager/Director* Under $92,700 $92,700-$113,300 Over $113,300Manager* Under $72,100 $72,100-$92,700 Over $92,700Senior (3+ years) Under $56,650 $56,650-$66,950 Over $66,950Staff (up to 3 years) Under $41,200 $41,200-$51,500 Over $51,500


Public Accounting


Large Firms: Firms with revenue in excess of $250 Million.

Medium Firms: Firms with revenues between $25 Million and $250 Million.

Small Firms: Firms with revenues up to $25 Million.


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2012 | Local Market Multipliers

The 2012 Local Market Multipliers are derived from the Bureau of Labor Statistics website. To calculate the local market salary data, multiply the national salary by the local market multiplier.

Example: Senior Cost Accountant - Large Company - BostonNational Salary: $66,950-$77,250 Local Market Multiplier: 1.13

$66,950 x 1.13=$75,654 $77,250 x 1.13=$87,293Local Salary: *$75,750-$87,250

* All local salaries are then rounded to the nearest 250. Some are slightly adjusted based on internal data collected.

Akron 0.9543 Los Angeles 1.045Atlanta 1.05 Nashville 0.868Bakersfield 0.952 New Jersey 1.152Baltimore 0.9548 New York 1.294Boston 1.13 Madison 0.918Canton 0.8155 Minneapolis 0.933Chicago 1.073 Orlando 0.8982Cleveland 0.9806 Pittsburgh 0.945Columbus 0.9493 Portland 0.927Dallas 1.039 San Antonio 0.9105Denver 1.052 San Francisco 1.227Ft. Lauderdale 0.9163 Seattle 0.988Ft. Wayne 0.901 Shelton 0.978Grand Rapids 0.9352 South Bend 0.8492Hartford 1.048 Tampa 0.8611Houston 1.043 Washington, D.C. 1.194Indianapolis 1.016






2012 | Hartford Local SalariesLarge Companies




2012 | Hartford Local SalariesMedium Companies








2012 | Hartford Local SalariesSmall Companies




Tax DepartmentTax Manager Under $81,000 $81,000-$113,250 Over $113,250Tax Senior Under $64,750 $64,750-$81,000 Over $81,000Tax Accountant (1-3 years) Under $48,500 $48,500-$59,250 Over $59,250Tax Accountant (up to 1 year) Under $43,250 $43,250-$51,250 Over $51,250





OperationsFull Charge Bookkeeper Under $48,500 $48,500-$57,250 Over $57,250Bookkeeper Under $37,750 $37,750-$44,250 Over $44,250AP/AR Manager Under $43,250 $43,250-$54,000 Over $54,000Payroll Manager Under $51,250 $51,250-$64,750 Over $64,750Accounting Clerk Under $32,500 $32,500-$43,250 Over $43,250AP/AR Clerk Under $32,500 $32,500-$37,750 Over $37,750Payroll Clerk Under $32,500 $32,500-$37,750 Over $37,750Billing Clerk Under $32,500 $32,500-$37,750 Over $37,750



2012 | Hartford Local SalariesSmall Companies



Public Accounting


Large Firms: Firms with revenue in excess of $250 Million.

Medium Firms: Firms with revenues between $25 Million and $250 Million.

Small Firms: Firms with revenues up to $25 Million.

Large FirmsSenior Manager/Director* Under $118,750 $118,750-$183,500 Over $183,500Manager* Under $91,750 $91,750-$124,250 Over $124,250Senior (3+ years) Under $72,250 $72,250-$87,500 Over $87,500Staff (up to 3 years) Under $54,000 $54,000-$70,250 Over $70,250

Medium FirmsSenior Manager/Director* Under $108,000 $108,000-$151,000 Over $151,000Manager* Under $86,250 $86,250-$108,000 Over $108,000Senior (3+ years) Under $64,750 $64,750-$81,000 Over $81,000Staff (up to 3 years) Under $48,500 $48,500-$59,250 Over $59,250

Small FirmsSenior Manager/Director* Under $97,250 $97,250-$118,750 Over $118,750Manager* Under $75,500 $75,500-$97,250 Over $97,250Senior (3+ years) Under $59,250 $59,250-$70,250 Over $70,250Staff (up to 3 years) Under $43,250 $43,250-$54,000 Over $54,000

2012 | Hartford Local Salaries



2012 | Glossary


The Glossary provides the definition of the financial and accounting positions and terminology used throughout the 2012 CFS Salary Guide.

Chief Financial Officer/TreasurerDirects the overall financial plans and accounting practices of an organization. Oversees treasury, accounting, budget, tax and audit activities of the organization and subsidiaries. Oversees financial and accounting system controls and standards and ensures timely financial and statistical reports for management and/or board use. This is the top finance and accounting position for the organization. Advanced Degrees and/or professional certifications are assumed at this level.

Vice President of FinanceDirects and coordinates, through subordinate managerial personnel, activities of department, region, administrative division, or specific function of financial institution, such as lending, trusts, mortgages, and investments, acting under authority and responsibility delegated by corporate executive officer. Develops and recommends plans for expansion of programs, operations, and financial activities. May authorize loans of specified types and amounts when permitted by institution regulations. Advanced Degrees and/or professional certifications are assumed at this level.

ControllerDirects budget and cost controls, financial analysis, accounting practices and reports. Analyzes and interprets financial data and recommends changes to improve systems and financial performance. This may be the top level in a mid-size company, or may report to the CFO in a very large company. Supervises exempt and

nonexempt accounting staff. Advanced Degrees and/or professional certifications are assumed at this level.

Assistant ControllerSupports company controller in directing budget and cost controls, financial analysis, and accounting procedures. Manages financial statement preparation. Organizes and plans auditing schedules. Develops policy and procedure manuals for accounting department. May file tax returns. Advanced Degrees and/or professional certifications are assumed at this level. Accounting ManagerManages accounting functions and preparation of reports and statistics detailing financial results. Establishes and maintains accounting practices to ensure accurate and reliable data necessary for business operations. May specialize in one or more functional accounting areas such as accounts receivable, accounts payable, payroll, budget, etc. Supervises professional and/or clerical accounting employees.

Accountant – SeniorEstablishes, interprets and analyzes complex accounting records or financial statements. These may include general accounting, costing or budget data. Examines, analyzes and interprets accounting records for management.

2012 | Glossary

Staff AccountantPrepares and maintains accounting records that may include general accounting, costing, or budget data. Examines, analyzes and interprets accounting records for the purpose of giving advice or preparing statements. May act as lead to lower level employees.

Director of TaxCoordinates the preparation and review of organization’s tax information for tax compliance and tax financial reporting purposes. Oversees the process of budgeting tax payments for income forecasting and cash flow projections. Monitors legislative developments to insure the proper corporate response. Conducts activities that include ensuring compliance with the organization’s tax standards, communicates complex tax issues to users of tax information at all levels in the organization. Drives the tax strategies in order to meet the tax objectives of the organization. Advanced Degrees and/or professional certifications are assumed at this level.

Tax ManagerEstablishes and carries out a campaign to reduce the organization’s tax debt. Adheres to all federal, state, local, or international tax laws. Manages the retention and preparation of tax records, tax returns, and other required reports. Assesses the impact of the organization’s tax liability and oversees tax accounting staff. Advanced Degrees and/or professional certifications are assumed at this level.

Tax SeniorCompletes complex professional tax accounting activities. Responsibilities include setting up and retaining organization’s tax records, filing tax returns, and preparing related reports, in addition to performing management studies. May also lead lower level accounting staff.

Tax AccountantCompletes professional tax accounting activities for an organization. Sets up and retains organization’s tax records. Files tax returns and prepares related reports.

Cost Accounting ManagerManages the preparation of cost accounting records. Designs and implements cost control procedures.

Senior Cost AccountantResponsible for all aspects of costing, including maintaining and analyzing the bill of materials, assisting with developing cost estimates for product lines, and tracking/analyzing business costs. In addition, reviews, corrects, and reconciles general ledger accounts, prepares journal entries, schedules and reports for the monthly Operating Book, and assists in the preparation of audit schedules and annual budget.

2012 | Glossary

Cost AccountantPrepares cost accounting records such as subcontracting, field service, sales costs, and research and development costs. Computes project costs, compares actual costs to estimates and analyzes variances. Audit DirectorSupervises the most difficult and sensitive internal and/or external financial, operations and compliance audits and evaluates the work of other advanced-level auditors so that audits are in compliance with accepted accounting/auditing principles and standards within state and federal laws. Represents the highest-level audit supervisory class. Directs, assigns and controls workflow; effectively recommends hiring and disciplinary actions, writes and revises position descriptions and conducts performance evaluations. Advanced Degrees and/or professional certifications are assumed at this level.

Audit ManagerDirects review and verification of records, compliance with standards, policies and procedures. Develops audit procedures and systems. Oversees audit findings and recommendations. Supervises internal audit staff. Advanced Degrees and/or professional certifications are assumed at this level.

Audit SeniorConducts complex audit projects. Reviews records for accuracy and conformance to standards. Inspects financial or operational information to ensure procedures are correct and appropriate. Compiles audit findings and recommends revisions to systems and procedures.

AuditorConducts audits to verify accuracy of records, compliance with standards, policies and procedures. Compiles audit findings and recommendations for modifications and improvements to systems and procedures.

Manager of Cost, Financial or Budget Analysis*Plans and directs analysis of financial data. Provides assessment of existing and proposed financial plans and policies. Proposes changes to ensure organization achieves financial targets. Advanced Degrees and/or professional certifications are assumed at this level.

Senior Financial AnalystAnalyzes complex financial data and compiles reports. Provides recommendations to management for establishing and achieving profit objectives. Assesses alternatives and overall financial performance to suggest appropriate course of action. May train or mentor junior staff.

2012 | Glossary

Financial AnalystAnalyzes financial data, compiles reports and prepares recommendations to management. Develops business plans and forecasts budget comparisons, profit analysis, and other financial reports.

Full Charge BookkeeperMaintains general ledger through trial balances. Prepares monthly and yearly adjustments and accruals, and prepares financial statements with limited supervision.

BookkeeperRecords organization’s business transactions and retains all accounting records. Posts, verifies, and reconciles accounts payable, accounts receivable, expenses, payroll, or other ledger accounts. Prepares statements, invoices, and vouchers. Submits reports of business financial operations.

Accounts Payable/Receivable ManagerOversees accounts payable record keeping. Supervises recording of amounts due, verification of invoices, and calculation of discounts. Ensures expense coding, voucher preparation, and check issuance are accomplished accurately and in a timely manner. Produces various reports for management including accounts payable register.

Payroll ManagerManages the preparation, distribution, and reporting processes for payroll. Oversees the calculation of wages, overtime, and deductions to ensure compliance with federal and state laws. Ensures that payments and government reports are disbursed accurately and in a timely manner. Establishes policies and procedures for the payroll function.

Billing ManagerOversees the billing function to ensure invoicing is completed accurately and on time. Provides work direction and review for billing clerks. Manages the processing and calculation of billing costs consistent with company policy and procedure. Prepares reports of billing activity for management.

Accounting ClerkVerifies and posts transactions to journals, ledgers and other records. Prepares statements, invoices and vouchers. May handle balancing and reconciliations. May specialize in one area of the accounting function. Requires understanding of bookkeeping procedures.

Accounts Payable ClerkOversee accounts payable record keeping. Supervises recording of amounts due, verification of invoices, and calculation of discounts. Ensures expense coding, voucher preparation, and check issuance are accomplished accurately and in a timely manner. Produces various reports for management including accounts payable register.

2012 | Glossary

Accounts Receivable ClerkReviews invoices for accuracy and completeness. Sorts documents by account name or number and processes invoices for payment. May perform other basic clerical duties associated with accounts payable. May post transactions to journals, ledgers and other records. Requires understanding of bookkeeping procedures.

Payroll ClerkComputes payroll; has knowledge of hourly, weekly, etc. wage calculation, deduction rates and limits. Has ability to reconcile automated output to source data; may possess specific software and service bureau experience.

Billing ClerkReviews billing data from charge or sales slips and purchase orders to ensure amounts and account numbers are accurate. Calculates billing charges, and assigns billing numbers for tracking purposes. Prepares invoices and bills of lading. Submits invoices for supervisory approval of charges and credit terms.

Credit and Collections ManagerDirects and coordinates all collection activities and supervises collections staff. Responsible for obtaining updates and remaining current on legal issues and proper documentation involved with collection of delinquent accounts.

Commercial CollectorInitiates appropriate collection action on delinquent accounts and manages orders on specific delinquent accounts, negotiates payments on past due dollars as well as plans to ensure new dollars are paid in a timely manner, processes the daily orders within department guidelines for specified delinquent accounts, works with the Credit Team, the Accounts Receivable Team, the Sales Team and all other departments within the company to ensure customer issues are addressed appropriately. Also identifies and prepares accounts for outside collection efforts once all in-house avenues have been exhausted.

2012 | Glossary

About Creative Financial StaffingCreative Financial Staffing (CFS) is the world’s largest staffing company specializing exclusively in the placement of accounting and financial professionals.

Founded in 1994, CFS is unique in that it is the only temporary and permanent staffing agency in the world to function as a fully integrated unit of leading accounting firms.

This affiliation gives us a distinct advantage: We are connected. Through financial and accounting networking, CFS has built an exceptional pool of candidates to help solve our clients’ staffing needs fast.

Temporary Staffing ServicesOur Temporary Staffing solutions cover a broad range of financial disciplines and talent levels - from accounting clerks to CFOs. All of our temporary employees are personally interviewed and referenced in order to help us make the best possible placements for our clients.

Executive Search ExpertiseCFS specializes in Accounting and Finance permanent/executive search services. We recruit top talent from mid level accounting positions to senior and executive level managers. We offer the following services to customize our clients’ search based on their unique needs:

At length discussions to determine the skills, • knowledge, and abilities required for the positionAssistance with defining a compensation plan for • the positionA rigorous screening process involving personal • interviews, professional references, and employment and degree verification to develop a short list of qualified candidatesAssistance with making the final offer•

CFS Guarantees Your SatisfactionClient and recruit satisfaction is the most important part of our business, and we work hard to ensure that each placement we make is the absolute best.

Our promise of excellence applies to all of our temporary and permanent placements. We do what we say we’ll do by servicing our clients and recruits with a level of quality that is second to none.

Project Support & Interim Management ServicesNon-stop support for interim management. With over 18 years of experience in the consulting and accounting staffing industry, we know how to fit the right person into the right environment. Our consultants will help match your needs and skills with the needs and culture of our clients.

To locate the office closest to you, visit us at www.cfstaffing.com.

2012 Hartford Salary Guide

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Transcript of 2012 Hartford Salary Guide