Apr 2017

The 2017 salary rise forecast indicates up to 6.3% raises for Tax Compliance staff. Time to outsource?

By: Odyssey Publication
Tags: pay rise, Robert Half, salary guide

Robert Half released their 2017 Salary guide with insights into the latest salary ranges for finance and accounting, technology and administration and office support professionals.

The report says the biggest gains in starting salaries are in Brisbane, with pay cheques in finance and accounting jobs set to rise by 3.5 percent. Melbourne is second with increases of 2.5 per cent.

The top 5 soft skills in demand are communication skills, interpersonal skills, problem solving skills, adaptability and business acumen.

Importantly for the tax and compliance area, the 2017 increases range from 1.5% for a tax accountant up to 6.3% for a head of tax.

Amongst the top paid accounting jobs are:

  • Business Advisory Services Assistant Manager, with a 2017 min: $82,000, 2017 max: $99,000, YoY growth: + 4.1%

As business advisory services assistant managers assist in providing advisory and compliance services to their organisation’s clients, these professionals are rewarded due in part due to the increase of regulation in the Australian financial services sector.

  • Tax Manager, with a 2017 min: $110,000, 2017 max: $156,000, YoY growth: + 3.2%

Government regulation is making tax policy more complicated, and Australian companies need highly skilled tax managers to comply with regulations and identify cost-saving measures.

  • Accounting Manager/Director, with a 2017 min: $113,000, 2017 max: $192,000 and YoY growth: + 3.1%

The reason behind this growth is interesting. As Robert Half reports, the finance function continues to evolve with digitisation and automation, and accounting managers and directors who adapt their accounting departments efficiently will be in high demand.

Certainly this report indicates more pay rises are on the way in 2017, which will put additional pressure on Compliance based firms.