SALARY GUIDE. Accounting & Finance

Transcription

1 2014 SALARY GUIDE Accounting & Finance +

2 Table of Contents From the Chairman...1 Understanding the Salary Guide...2 The Hiring Environment...3 Local Hiring Trend Highlights...8 Accounting and Finance Salaries...10 Customizing Salaries for Local Markets...16 The Benefits of a Flexible Staffing Plan...17 Robert Half: Your Key to Finding Skilled Professionals...18 Office Locations...20 All trademarks contained herein are the property of their respective owners.

3 From the Chairman Dear colleague: Offering competitive compensation is crucial for both attracting top talent to your organization and encouraging your best people to stay. And periodically benchmarking your salaries is key to ensuring you remain on the mark. To assist our clients with this effort, Robert Half has published a Salary Guide every year since 1950 with the latest information on starting salaries and hiring, retention and staff management trends. We are pleased to present our 2014 Salary Guide, which includes compensation projections for a comprehensive set of positions in the accounting and finance fields, based on our research and experience. I hope you find the guide helpful as you continue building a workforce capable of meeting your most important business priorities. For additional compensation and staffing insights, please visit our Salary Centre at roberthalf.ca/salary-centre. Sincerely, Max Messmer Chairman and CEO The Salary Centre is available in English only. 1

4 Understanding the Salary Guide The 2014 Salary Guide from Robert Half is the most comprehensive and authoritative resource on starting compensation and hiring trends in the accounting and finance fields. Included are salary ranges for more than 145 positions in corporate and public accounting, finance, banking, and financial services. The figures contained in the guide are based on the thousands of full-time, interim and project placements made each year by our staffing and recruiting professionals. Our experts work with hiring managers and job seekers every day, which gives them unique insight into compensation trends. The salary range listed for each position reflects starting pay only. Bonuses and other forms of compensation, such as retirement packages, are not taken into account. In addition, the ranges represent national averages. You can adjust them for your market by using the local variances found immediately after the salary tables. [ Visit our Salary Centre at roberthalf.ca/salary-centre for more resources. The Salary Centre is available in English only. ] 2

5 The Hiring Environment The state of the Canadian economy has remained generally unchanged since early 2013, with companies boosting hiring modestly. This activity is largely driven by firms that find they will lack the people and skills to handle anticipated growth unless they add to their headcount. Companies are carefully considering their hiring decisions and are seeking finance professionals who possess more than just solid technical skills. Top candidates are increasingly defined by not only their accounting and finance knowledge and designations but also their critical-thinking skills the ability to analyze and interpret financial data and make recommendations that create business value. Candidates with leadership abilities and strong analytical and communication skills are in high demand. But many employers are experiencing talent shortages, as unemployment rates for finance and management occupations are often well below the national average. Locating this top-tier talent continues to be a challenge. Businesses must proactively recruit these professionals, and when they find a match, they need to move quickly to hire. The message is clear: Competition for the best accounting and finance candidates remains strong, regardless of overall unemployment rates. In-Demand Expertise CFOs were asked, When hiring finance and accounting professionals, which one of the following attributes or areas of expertise is most valued, in addition to traditional accounting knowledge? Their responses: General business knowledge Don t know/no answer 39% 13% Information technology 17% 13% Communication skills 12% Customer service orientation 6% Leadership abilities Source: Robert Half survey of more than 270 CFOs in Canada 3

6 The Hiring Environment Retention is also a concern. Firms must support the career goals of the people they hire to ensure a long-term fit. Many employers are still grappling with the generational divide, finding it difficult to engage and hold onto Generation Y finance staff. Although companies are steadily improving their retention strategies for example, by offering flexible work schedules and professional development high-performing employees are still being approached about opportunities at other firms. This underscores the need for competitive salaries and attractive benefits packages and perks. There is rising demand for skilled interim and project workers as companies seek access to specialized finance expertise and support for growth opportunities and new projects. Companies embarking on new operational initiatives that require skills such as project management, business analytics and software expertise are increasingly looking outside their organizations. Contract hiring for technology systems implementation and reporting systems has also risen, as have opportunities for temporary work leading to full-time employment. Benefits of Temporary Professionals CFOs were asked, How beneficial do you consider the following uses of temporary professionals? Their responses: To maintain productivity when not ready to hire full time To evaluate prospective full-time employees firsthand To fill in during employee absences To alleviate the workloads of full-time staff To access specialized skills on an as-needed basis 90% 89% 87% 85% 82% Very beneficial Somewhat beneficial Source: Robert Half survey of more than 115 CFOs in Canada. Only CFOs who rated these items very beneficial or somewhat beneficial are shown. 4

7 The Hiring Environment Specialization Pushing Up Compensation The demand for finance and accounting professionals is placing upward pressure on pay rates. Some companies are expanding salary ranges to ensure they are able to hire candidates with the requisite skill sets. Job seekers, especially those from Generation Y, are looking for benefits such as longer vacations, more-defined career paths, expanded learning opportunities and flexible work arrangements. As a result, more progressive companies are examining benefits spending and moving away from onesize-fits-all packages. Candidates also are examining potential employers in terms of corporate social responsibility and workplace culture. In-Demand Credentials and Skills Accounting designations chartered accountant (CA), certified general accountant (CGA), certified management accountant (CMA), chartered global management accountant (CGMA) and the new chartered professional accountant (CPA) continue to be valued by employers, especially for entryand mid-level roles. Employers seek staff with designations that complement accounting designations, such as the project management professional (PMP). This designation is particularly useful for systems conversions and is more valued if it is related to the Six Sigma quality improvement process. The most sought skills include financial analysis; financial reporting (International Financial Reporting Standards and Accounting Standards for Private Enterprises); information technology (IT); advanced Excel and Access; full-cycle accounting; and enterprise resource planning systems experience (SAP, Oracle/PeopleSoft, Microsoft Dynamics GP). Note: Designations vary by province. 5

8 The Hiring Environment Driven by growth and the resulting need for compliance, controls and governance, companies are building infrastructure in the area of financial reporting. Businesses with well-honed career paths for financial leaders are reaping the benefits from both sides the ability to attract and retain top talent and to gain solid insights to support organizational growth. Here are some of the most in-demand positions: u Financial analysts Businesses place great value on financial analysts who can evaluate financial plans, forecasts and budgets, and identify ways to control costs. u Business systems analysts Companies look for candidates who have finance and IT expertise, and can implement new systems and enhance existing ones, as well as leverage new hardware and software. u Senior accountants Companies that previously held off hiring finance professionals at this level are now aggressively searching for senior accountants with three or more years of experience and a CPA designation. u Cost accountants Professionals who can merge cost accounting with financial planning and analysis skills, particularly in a manufacturing context, are in demand by companies seeking to manage costs. 6

9 The Hiring Environment Public Accounting Overview The general employment outlook among public accounting firms remains steady; hiring for tax and audit professionals is particularly strong. Firms are reviewing staff levels, all the way up to the partner position, to reflect the nature of their client work. To attract and retain talent, public accounting firms continue to address the long-standing issues of lengthy hours and lack of flexibility. Many also are increasing base pay and compensation levels. Large firms are leveraging their positive brand reputations to attract candidates. Firms also are stepping up their recruiting and retention efforts in response to increased competition for top performers from corporate accounting and finance departments. These corporate departments value and are often willing to pay more for candidates with public accounting expertise, further exacerbating hiring challenges. Financial Services Trends Hiring in the financial services sector is on the upswing, due in part to increased activity and international investment driven by Canada s strong financial structure and the relatively low risk of doing business here. From a global perspective, Toronto is viewed as one of the most competitive financial services hubs in the world. Commercial and corporate banking, mortgage, and investment management firms are showing the greatest demand for financial expertise. No industries have been more affected by growing compliance and regulatory mandates than banking and financial services. Demand continues for risk management and compliance professionals, driven by evolving reporting requirements and the need to update or implement new reporting systems. Business development competencies are highly valued. Employment opportunities continue to be promising for those with accounting designations and those with a master s degree in business administration. Professionals with a financial risk manager designation and those who have completed the Canadian Securities Course are also sought. The master of finance statistical and mathematical designation is well-regarded because many roles require analytical skills. Organizations seek strategic leaders who can grow with the firm, particularly candidates who have leadership qualities, critical thinking abilities and process automation expertise. To attract this kind of talent, financial institutions need to provide professionals with the opportunity to make a real impact on the business. They also must offer a healthy work/life balance. To better compete for strong candidates and retain talent, companies are beginning to re-evaluate bonus structures. 7

10 Local Hiring Trend Highlights Alberta: Companies in Alberta are growing as a result of investment in the oil and natural gas sector. This has led to increased hiring and talent shortages. Salaries for finance professionals in Alberta tend to be higher than elsewhere in Canada, especially in the oil and gas industries. Large engineering, procurement and construction projects in the oil sands and for infrastructure development have led to increased demand for specialized skills. Cost accountants in the oil and gas industry, especially those with manufacturing experience, are among the most difficult professionals to recruit. Although companies are willing to pay a premium for top performers, finding experienced talent is a challenge. It is not uncommon for organizations to extend their reach beyond Alberta s provincial borders. In addition, strong candidates often receive multiple employment offers. The use of bonus programs is increasing due to rising corporate profitability, and more incentives are being tied to the long-term growth and stability of the company. Growth is driving demand for CFOs, controllers, financial analysts, business analysts, cost accountants, project accountants, payroll and billing personnel, and senior accountants with financial reporting experience. British Columbia: The outlook for British Columbia is one of cautious growth, with companies wanting to feel more confident about the Canadian and global economies before hiring. Manufacturing is starting to rebound. And with many construction and infrastructure projects under way, particularly in the Fraser Valley, employers are now hiring financial analysts to help make business decisions on upcoming projects. Sectors in the province with the greatest demand for accounting and finance talent include real estate, information technology and distribution. In-demand attributes include financial analysis, systems and software proficiency (especially with advanced Excel and Access operations), full-cycle accounting, communication skills, and industry-specific experience. 8

11 Local Hiring Trend Highlights Manitoba: Businesses in Manitoba are hiring, driven largely by the pickup in the manufacturing sector, and this is expected to continue. Compensation has risen commensurate with inflation, with employers landing the candidates they seek, and job seekers finding the positions they want. Compared to other parts of the country, Manitoba s economic highs are never as high and its lows are never as low as those of other regions. Therefore, employers in this market have adjusted business planning only slightly in response to economic conditions and are now hiring more to keep pace with the upswing. Ontario: Though employers in Ontario are still somewhat cautious about adding staff, there is strong demand for talent, and employers need to move quickly to secure top candidates. Financial services and manufacturing firms in the Greater Toronto Area are driving increased need for senior-level candidates with strong analytical skills. Hiring in the education, not-for-profit and government sectors in the national capital region remains steady, as does the use of temporary professionals. In particular, businesses seek payroll administrators; accounts payable, accounts receivable and billing specialists; financial analysts; staff and senior accountants; controllers; and internal auditors. Temporary and project employment remains strong for these roles and others. Quebec: The overall hiring outlook for Quebec is positive. Increased business activity within the construction and engineering sectors in the province is generating demand for accountants who can help support these initiatives. The sectors with the greatest demand for staff include finance, banking, mining, manufacturing, property management and distribution. The most highly sought designation in the province is the CPA, which unifies the CA, CMA and CGA accreditations. Furthermore, experienced and bilingual candidates can expect premium compensation. Businesses seek financial analysts; controllers; internal auditors; cost analysts; and specialists in payroll, credit and collections. Temporary staffing is also growing in the province. In particular, there is demand for interim financial analysts. 9

12 Accounting and Finance Salaries Corporate Accounting Title/Experience % Change Chief Financial Officer a Company Sales in Millions $250+ $ 173,500 - $ 274,250 $ 178,750 - $ 284, % $100 to $250 $ 139,000 - $ 194,250 $ 142,750 - $ 198, % $50 to $100 $ 122,500 - $ 170,000 $ 125,250 - $ 173, % (The above category assumes there is a corporate controller who reports to the CFO.) Treasurer a Company Sales in Millions $250+ $ 162,750 - $ 259,000 $ 169,500 - $ 265, % $100 to $250 $ 124,000 - $ 181,500 $ 129,000 - $ 187, % $50 to $100 $ 100,500 - $ 142,750 $ 102,250 - $ 146, % Vice President of Finance a Company Sales in Millions $250+ $ 150,000 - $ 223,500 $ 154,000 - $ 228, % $100 to $250 $ 129,000 - $ 171,750 $ 131,250 - $ 176, % $50 to $100 $ 115,500 - $ 154,250 $ 117,000 - $ 159, % Up to $50 $ 107,750 - $ 141,000 $ 109,500 - $ 146, % Controller a Company Sales in Millions $250+ $ 124,000 - $ 167,000 $ 127,500 - $ 172, % $100 to $250 $ 105,250 - $ 141,000 $ 107,500 - $ 146, % $50 to $100 $ 89,500 - $ 123,500 $ 92,750 - $ 126, % Up to $50 $ 75,750 - $ 108,000 $ 76,000 - $ 112, % Assistant Controller a Company Sales in Millions $250+ $ 97,500 - $ 135,750 $ 101,250 - $ 139, % $100 to $250 $ 85,750 - $ 108,750 $ 88,000 - $ 112, % $50 to $100 $ 75,250 - $ 95,250 $ 78,500 - $ 97, % Up to $50 $ 63,750 - $ 81,500 $ 66,250 - $ 82, % Assistant Treasurer a Company Sales in Millions $250+ $ 96,000 - $ 136,000 $ 98,750 - $ 140, % $100 to $250 $ 81,250 - $ 110,250 $ 84,250 - $ 112, % $50 to $100 $ 73,250 - $ 93,750 $ 75,750 - $ 97, % Up to $50 $ 66,500 - $ 86,750 $ 68,750 - $ 88, % Tax Manager a Company Sales in Millions $250+ $ 121,750 - $ 186,750 $ 125,000 - $ 195, % $150 to $250 $ 99,500 - $ 145,000 $ 102,750 - $ 149, % a. Bonuses and incentives reflect an increasingly large part of overall pay at this level and are not included in the salary ranges listed above. Advanced degrees or professional designations also are assumed at this level. Unless otherwise noted (see footnote a ), add 5-10 per cent for graduate degrees or professional designations. 10

13 Accounting and Finance Salaries Corporate Accounting Title/Experience % Change Accountant Large Companies b Manager $ 77,000 - $ 101,500 $ 80,000 - $ 105, % Senior $ 60,750 - $ 80,000 $ 63,750 - $ 82, % 1 to 3 Years $ 44,500 - $ 61,000 $ 46,750 - $ 62, % Up to 1 Year $ 37,750 - $ 45,750 $ 38,750 - $ 47, % Accountant Midsize/Small Companies b Manager $ 66,750 - $ 87,500 $ 70,500 - $ 89, % Senior $ 57,250 - $ 73,500 $ 59,250 - $ 75, % 1 to 3 Years $ 41,500 - $ 54,500 $ 42,500 - $ 56, % Up to 1 Year $ 35,750 - $ 43,000 $ 36,750 - $ 44, % Analyst Large Companies b Manager $ 83,000 - $ 114,000 $ 87,250 - $ 117, % Senior $ 67,000 - $ 87,750 $ 69,500 - $ 91, % 1 to 3 Years $ 47,750 - $ 65,500 $ 48,250 - $ 69, % Up to 1 Year $ 41,500 - $ 49,500 $ 42,750 - $ 51, % Analyst Midsize/Small Companies b Manager $ 73,750 - $ 95,250 $ 76,250 - $ 98, % Senior $ 62,750 - $ 80,250 $ 65,500 - $ 82, % 1 to 3 Years $ 45,000 - $ 58,250 $ 45,750 - $ 61, % Up to 1 Year $ 37,750 - $ 46,250 $ 38,500 - $ 48, % Internal Auditor Large Companies b Manager $ 95,750 - $ 134,500 $ 100,000 - $ 140, % Senior $ 78,250 - $ 102,500 $ 80,750 - $ 106, % 1 to 3 Years $ 64,250 - $ 82,250 $ 66,500 - $ 85, % Up to 1 Year $ 54,500 - $ 66,000 $ 56,750 - $ 67, % Internal Auditor Midsize/Small Companies b Manager $ 84,500 - $ 121,250 $ 89,500 - $ 124, % Senior $ 73,250 - $ 93,500 $ 76,750 - $ 96, % 1 to 3 Years $ 59,500 - $ 75,000 $ 62,000 - $ 77, % Up to 1 Year $ 47,500 - $ 61,250 $ 49,500 - $ 63, % b. Large companies = $250+ million in sales Midsize/small companies = up to $250 million in sales Unless otherwise noted (see footnote a ), add 5-10 per cent for graduate degrees or professional designations. 11

14 Accounting and Finance Salaries Corporate Accounting Title/Experience % Change IT Auditor Large Companies b Manager $ 93,750 - $ 137,750 $ 100,000 - $ 141, % Senior $ 78,500 - $ 107,000 $ 82,000 - $ 110, % 1 to 3 Years $ 66,250 - $ 87,000 $ 69,750 - $ 89, % Up to 1 Year $ 56,000 - $ 67,500 $ 57,500 - $ 70, % IT Auditor Midsize/Small Companies b Manager $ 83,500 - $ 122,750 $ 85,750 - $ 128, % Senior $ 72,500 - $ 93,000 $ 76,750 - $ 95, % 1 to 3 Years $ 58,500 - $ 75,250 $ 62,000 - $ 77, % Up to 1 Year $ 50,000 - $ 61,750 $ 51,750 - $ 64, % Credit and Collections Large Companies b Manager $ 70,250 - $ 98,750 $ 73,000 - $ 102, % Senior $ 51,250 - $ 67,750 $ 52,500 - $ 70, % 1 to 3 Years $ 38,000 - $ 48,000 $ 39,250 - $ 49, % Up to 1 Year $ 33,750 - $ 40,500 $ 34,250 - $ 42, % Credit and Collections Midsize/Small Companies b Manager $ 57,750 - $ 76,000 $ 60,000 - $ 79, % Senior $ 47,250 - $ 58,250 $ 49,000 - $ 60, % 1 to 3 Years $ 36,750 - $ 45,500 $ 37,500 - $ 47, % Up to 1 Year $ 33,000 - $ 39,000 $ 33,500 - $ 41, % Bookkeeper/General Accounting Accounts Payable/ Accounts Receivable Supervisor $ 51,750 - $ 67,500 $ 53,000 - $ 71, % Full Charge Bookkeeper $ 45,750 - $ 61,500 $ 48,250 - $ 62, % Bookkeeper/Assistant $ 39,500 - $ 50,750 $ 41,250 - $ 51, % Accounting Administrator $ 33,250 - $ 43,250 $ 34,500 - $ 44, % Payroll Manager $ 68,000 - $ 96,250 $ 70,000 - $ 101, % Supervisor $ 57,500 - $ 70,250 $ 60,000 - $ 73, % Coordinator $ 43,500 - $ 56,250 $ 45,250 - $ 58, % Administrator $ 38,000 - $ 47,500 $ 39,250 - $ 49, % b. Large companies = $250+ million in sales Midsize/small companies = up to $250 million in sales Unless otherwise noted (see footnote a ), add 5-10 per cent for graduate degrees or professional designations. 12

15 Accounting and Finance Salaries Public Accounting Title/Experience % Change Public Accountant Large Firms c,d Manager a $ 90,000 - $ 131,500 $ 93,500 - $ 135, % Supervisor a $ 77,250 - $ 96,750 $ 80,250 - $ 99, % Senior $ 66,000 - $ 82,750 $ 68,000 - $ 85, % 1 to 3 Years $ 52,500 - $ 67,250 $ 54,750 - $ 68, % Up to 1 Year $ 42,250 - $ 51,750 $ 43,750 - $ 53, % Public Accountant Midsize/Small Firms c,d Manager a $ 80,750 - $ 115,500 $ 83,000 - $ 119, % Supervisor a $ 70,250 - $ 89,000 $ 72,750 - $ 91, % Senior $ 58,250 - $ 74,750 $ 59,750 - $ 76, % 1 to 3 Years $ 45,250 - $ 58,500 $ 46,250 - $ 60, % Up to 1 Year $ 38,250 - $ 49,000 $ 40,000 - $ 49, % Public Tax Accountant Large Firms c,d International a $ 131,750 - $ 200,250 $ 135,250 - $ 205, % Manager a $ 95,000 - $ 153,000 $ 98,750 - $ 156, % Senior $ 76,750 - $ 98,000 $ 78,750 - $ 101, % 1 to 3 Years $ 61,250 - $ 77,250 $ 63,500 - $ 79, % Public Tax Accountant Midsize/Small Firms c,d Manager a $ 90,000 - $ 133,500 $ 92,750 - $ 137, % Senior a $ 72,250 - $ 90,000 $ 74,750 - $ 92, % 1 to 3 Years $ 54,500 - $ 71,500 $ 56,250 - $ 73, % a. Bonuses and incentives reflect an increasingly large part of overall pay at this level and are not included in the salary ranges listed above. Advanced degrees or professional designations also are assumed at this level. c. Large firms = $250+ million in sales Midsize/small firms = up to $250 million in sales d. Salary does not reflect overtime or bonuses, which are significant portions of compensation for these positions. Unless otherwise noted (see footnote a ), add 5-10 per cent for graduate degrees or professional designations. 13

16 Accounting and Finance Salaries Financial Services Title/Experience % Change Banking and Financial Markets Managing Director/Partner - Sell Side $ 202,000 - $ 258,500 $ 209,000 - $ 266, % Vice President - Sell Side $ 163,250 - $ 215,000 $ 170,000 - $ 221, % Associate - Sell Side $ 86,750 - $ 122,500 $ 89,750 - $ 127, % Analyst - Sell Side $ 76,500 - $ 91,750 $ 78,000 - $ 96, % Managing Director/Partner - Buy Side $ 195,000 - $ 250,000 $ 199,500 - $ 257, % Vice President - Buy Side $ 153,250 - $ 210,000 $ 161,500 - $ 212, % Associate - Buy Side $ 81,500 - $ 102,000 $ 83,250 - $ 105, % Analyst - Buy Side $ 66,250 - $ 86,750 $ 69,000 - $ 88, % Fund Manager $ 90,750 - $ 120,000 $ 93,250 - $ 125, % Portfolio Manager $ 90,750 - $ 120,000 $ 93,000 - $ 124, % Private Banker $ 55,000 - $ 90,000 $ 56,500 - $ 93, % Business Development Officer $ 82,500 - $ 131,000 $ 84,500 - $ 134, % Consumer/Residential Lending Officer $ 62,500 - $ 92,000 $ 64,750 - $ 94, % Commercial Lending Officer $ 67,500 - $ 98,250 $ 70,000 - $ 100, % Product Development Specialist $ 87,000 - $ 125,000 $ 89,500 - $ 127, % Quantitative Analyst $ 75,500 - $ 105,000 $ 78,250 - $ 107, % Credit Analyst $ 62,000 - $ 77,000 $ 63,750 - $ 78, % Investor Relations Professional $ 77,000 - $ 102,000 $ 80,500 - $ 104, % Wholesaler $ 82,250 - $ 127,500 $ 85,250 - $ 130, % Insurance Underwriter $ 43,250 - $ 64,750 $ 46,000 - $ 65, % Finance and Accounting Controller - Sell Side $ 178,500 - $ 204,000 $ 183,000 - $ 212, % Controller - Buy Side $ 152,750 - $ 183,500 $ 156,750 - $ 189, % Investment Accountant $ 53,750 - $ 81,000 $ 54,000 - $ 84, % Financial Analyst $ 63,250 - $ 92,000 $ 65,750 - $ 95, % Regulatory Reporting Specialist $ 82,000 - $ 91,750 $ 85,000 - $ 95, % Product Control Manager $ 66,750 - $ 97,000 $ 70,000 - $ 98, % Profit and Loss Analyst $ 49,250 - $ 85,000 $ 51,750 - $ 86, % Hedge Fund Accountant $ 48,000 - $ 104,000 $ 50,750 - $ 105, % Mutual Fund Accountant $ 38,000 - $ 61,500 $ 40,500 - $ 62, % Unless otherwise noted, add 5-10 per cent for graduate degrees or professional designations. 14

17 Accounting and Finance Salaries Financial Services Title/Experience % Change Risk and Compliance Chief Risk Officer $ 158,000 - $ 190,000 $ 160,250 - $ 199, % Market Risk Manager $ 76,500 - $ 115,000 $ 77,250 - $ 121, % Market Risk Analyst $ 63,250 - $ 77,750 $ 66,750 - $ 79, % Operational Risk Manager $ 74,500 - $ 110,000 $ 77,500 - $ 114, % Operational Risk Analyst $ 62,000 - $ 76,500 $ 65,500 - $ 78, % Credit Risk Manager $ 77,000 - $ 115,000 $ 80,000 - $ 117, % Credit Risk Analyst $ 62,000 - $ 77,000 $ 64,250 - $ 78, % Chief Compliance Officer $ 135,000 - $ 168,000 $ 137,750 - $ 177, % Compliance Manager $ 97,000 - $ 134,000 $ 99,750 - $ 140, % Compliance Analyst/Officer $ 66,750 - $ 97,000 $ 70,000 - $ 99, % Chief Anti-Money Laundering Officer $ 133,500 - $ 175,500 $ 137,500 - $ 182, % Fraud Investigator $ 57,000 - $ 92,500 $ 59,750 - $ 95, % Auditor $ 71,500 - $ 102,000 $ 75,250 - $ 104, % Operations Hedge Fund Operations Manager $ 76,500 - $ 101,250 $ 79,500 - $ 103, % Hedge Fund Administrator $ 43,000 - $ 47,500 $ 44,500 - $ 48, % Mutual Fund Operations Manager $ 73,500 - $ 98,250 $ 75,500 - $ 101, % Mutual Fund Administrator $ 42,500 - $ 48,000 $ 44,000 - $ 47, % Portfolio Administrator $ 44,000 - $ 63,500 $ 45,750 - $ 64, % Trade Settlement/ Reconciliaton Specialist $ 37,000 - $ 53,000 $ 39,250 - $ 54, % Corporate Actions Specialist $ 42,750 - $ 65,500 $ 44,000 - $ 67, % Treasury/Liquidity Operations Specialist $ 67,000 - $ 84,000 $ 69,500 - $ 85, % Treasury Manager $ 82,000 - $ 120,000 $ 84,250 - $ 123, % Pricing/Valuation Analyst $ 50,500 - $ 81,500 $ 53,000 - $ 82, % Investor Services Representative $ 56,000 - $ 72,000 $ 57,750 - $ 74, % Client Services Manager $ 74,250 - $ 97,000 $ 75,750 - $ 99, % Client Services Representative $ 39,500 - $ 45,750 $ 40,250 - $ 47, % Mortgage Underwriter $ 45,500 - $ 65,000 $ 47,500 - $ 66, % Mortgage Administrator $ 38,000 - $ 50,750 $ 40,250 - $ 51, % Loan Underwriter $ 45,500 - $ 65,000 $ 46,750 - $ 67, % Loan Administrator $ 39,500 - $ 59,250 $ 40,250 - $ 61, % Unless otherwise noted, add 5-10 per cent for graduate degrees or professional designations. 15

18 Customizing Salaries for Local Markets The national salary ranges can be customized for select cities in Canada by using the local variances listed below. A number of factors, including company size, employee benefits, the candidate s skill set and market trends, may impact actual compensation. The information is supported by the expertise of our local staffing and recruiting managers, independent research, and our company s ongoing surveys of chief financial officers and other senior business leaders. The average salary index for all Canadian markets is 100. To determine the estimated salary range for a position in your area, move the decimal point in the variance number two places to the left. Then, multiply this figure by the low and high ends of the position s national salary range. [ Salaries also can be customized using our Salary Calculator at roberthalf.ca/salary-centre. The Salary Centre is available in English only. ] Alberta Calgary Edmonton British Columbia Fraser Valley Vancouver Victoria Manitoba Winnipeg Ontario Kitchener-Waterloo Ottawa Toronto Quebec Montreal Quebec City Saskatchewan Regina Saskatoon

19 The Benefits of a Flexible Staffing Plan Businesses today move at lightning speed. Advances in technology and communications, coupled with increased competition from all corners of the globe, mean companies must be agile in responding to change, including identifying the right personnel resources for projects. A flexible staffing plan that uses a combination of full-time employees and highly skilled interim professionals can help your firm staff up or down in response to business demand. This approach also introduces a variable-cost component into an otherwise fixed-cost labour structure and can help you guard against overstaffing and layoffs. Contingent workers are available at all experience levels and can supplement a company s core team whenever and for as long as necessary. These professionals can be engaged to fill staffing gaps, manage projects and serve as technical experts. More people are considering working on a temporary or project basis. This is a boon for companies, which can take advantage of the in-depth knowledge and experience these individuals possess. Here are some of the advantages of making temporary and project professionals a permanent part of your staffing mix: u You can adjust staffing levels to the ebb and flow of business cycles, keeping overhead costs under control. u You can ease the work burden on employees who may already be spread too thin because of rising business demands or additional duties. u You can handle projects outside the expertise of current staff members. u You can engage high-level specialists with skills not available in-house. u You can increase job stability for full-time employees. u You can reduce recruiting time if you identify a longer-term need. 17

20 Robert Half: Your Key To Finding Skilled Professionals Robert Half is the world s leading specialized staffing service. Through our Accountemps, Robert Half Finance & Accounting and Robert Half Management Resources divisions, we place highly skilled accounting and finance professionals on a temporary, full-time and senior-level project basis, respectively. Robert Half Financial Services specializes in providing highly skilled financial services professionals on a temporary, interim and full-time basis. We also offer a full spectrum of consulting services through our Protiviti subsidiary, a global consulting firm that helps companies solve problems in finance, technology, operations, governance, risk and internal audit. Key benefits we offer your business include: u The right people, right now Few things are as costly for companies as discovering too late that they ve hired the wrong person. Time is money. Our staffing specialists, who commonly possess accounting and finance experience, are trained to make strong matches with professionals who can start right away. u The complete job Companies, especially small businesses, don t always have the time and resources it takes to locate and attract the best talent. Despite what many think, even the Internet is just a starting point in an effective recruiting process. Our staffing professionals have the expertise to make the hiring process easier and do it all for our clients: personal interviews, technical skills evaluations, reference checks, soft skills assessments, job offer preparation and determination of the suitability of our candidates fit with your work environment. u High-tech, high-touch approach We use the latest technology to rapidly present a choice of candidates with the right skills to clients. But we aren t limited to e-solutions. We believe personalized, tailored service is a key ingredient to successful recruiting. u Choices We provide a number of options to meet different needs, whether it s a full-time hire, temporary professionals to assist with peak workloads or a team of consultants to help manage a special project from beginning to end. Contact Robert Half at roberthalf.ca or to learn more about how we can assist you with your staffing needs. 18