ACCOUNTANTS SALARY EXPECTATIONS

The job market for top qualified accounting professionals is a candidate’s job market.  It means that there are very few available top qualified candidates available for the open positions.  The effect is higher salaries expectations from candidates’ due to the demand vs offer effect.

Below are some facts from some reliable sources that employers looking to fill accounting related positions need to take into consideration.
  • According to the American Institute of Certified Public Accountants survey staffing is the number 1 issue affecting accounting firms of all sizes.
  • According to Journal of Accountancy a significant acceleration of salaries increases caused average salary in the united states for accountants to be in the six figures during the past year due to a strong “war for talent” with qualified candidates receiving multiple job offers. This increases the exodus of Puerto Rico professionals to the states. 
  • Chartered Global Management Accountant Magazine global survey found that significant salary increases and bonuses are expected globally for the accounting profession in private industry. The survey didn’t consider accounting firms where the talent for war is stronger.
  • Many Puerto Rico professionals are leaving to the states. Thousands of experienced accounting professionals left from 2015 through 2018 to the United States to take advantage of the strongest job market not seen since the great recession causing open positions in the island.  
  • The exodus of professionals have been stronger since hurricane Maria made landfall. 
  • Busy Season Staffing Solutions have noted that accounting professionals in Puerto Rico are receiving counter offers as a retention method. In addition, some top candidates are rejecting offers expecting a second and up to a third before accepting the job causing pressure on salary increases.
We consider it is important to provide you this information about what is happening on the job market for accounting professionals. We recommend that your company creates an action plan to take the necessary steps to recruit and retain top talent.

Busy Season Staffing Solutions can assist your company in the recruiting of professionals both for regular employee needs as to temporary staffing. 
Contact us at 787-918-1890, [email protected] or using the employer request staffing assistance section.
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For resources refer to the following links:
AICPA Staffing number 1 issue                                                  
Journal of Accountancy
CGMA Global Survey Results
 
Disclaimer: The information presented above is for information purposes only and do not represent legal advice. Before making any decision you should consult your own legal advisor.