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NextGen Magazine


Survey: Accounting Salaries and Employment to Increase in 2023

S.J. Steinhardt
Published Date:
Nov 10, 2022

Salary Negotiations

Accounting salaries in industry for 2023 are projected to be higher than in 2022, including 11 roles that are expected to have double-digit increases, Going Concern reported, based on its analysis of LHH Recruitment Solutions’ 2022 and 2023 Accounting & Finance Salary Guides.

Going Concern analyzed 27 industry jobs, finding that 23 have pay that, on average, will likely be higher next year than what LHH predicted for 2022. The roles ranged from credit and collections clerk to partner.

Two C-Suite roles, chief accounting officer and chief financial officer, were expected to have a lower base pay in 2023, according to Going Concerns’ analysis.

The 2023 Guide also cited two trends affecting accountants:

• Demand for accounting positions has been driven by turnover, as workers require greater compensation for increasingly large workloads and accounting consulting firms have offered pay increases to improve retention; and

• The rise of blockchains, artificial intelligence (AI), and an increased reliance on technology has led to automation of many tasks traditionally undertaken by accountants. Workers with skills that complement these tasks will be more productive and demand higher wages.

• In the broader financial sector, corporate profits are a strong indicator of future wage movement.

The guide also projected that the rate of employment of accountants and auditors will grow by 7 percent between 2020 and 2030, with an estimate of approximately 135,000 openings for accountants and auditors each year, on average, in this decade.