Employers seeking to hire skilled finance and accounting talent need to offer compelling compensation packages. Cost-conscious firms unprepared to meet or beat market rates may find it challenging to compete for top talent — especially professionals with specialized, in-demand skills like financial reporting and financial modeling.More than 9 in 10 (92%) of finance and accounting professionals report they are somewhat or very concerned about inflation outpacing salaries. If they do not receive a raise, 40% of professionals said that they will ask for one to offset inflation and 29% said they will look for a new role.
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Finance and Accounting Hiring Trends in Canada
Companies invest in training to overcome skills gaps
Public accounting firms see fewer workers choosing financial planning over financial analysis. To develop this talent, they’re hiring and training staff from private companies.To overcome technical skills gaps in areas like enterprise resource planning and business intelligence, employers are using internal and external resources to train and upskill workers.Employers that struggle to find experienced payroll professionals are instead recruiting and training bookkeepers who have some payroll knowledge.
Vague job responsibilitiesHigh staff turnoverNo salary range provided in descriptionRequirement to work fully on-siteMismatched title for experienceVague job responsibilitiesHigh staff turnoverNo salary range provided in descriptionRequirement to work fully on-siteMismatched title for experience
of employers offer hybrid work to attract and hire skilled finance and accounting talent.of employers offer hybrid work to attract and hire skilled finance and accounting talent.
Increasing recognition effortsIncreasing compensationEnhancing professional developmentAllowing remote work part timeAccelerating promotions or job title changesIncreasing recognition effortsIncreasing compensationEnhancing professional developmentAllowing remote work part timeAccelerating promotions or job title changes
Stay the sameStay the sameIncreaseIncreaseDecreaseDecrease
Financial reportingFinancial modeling Leadership/ management experienceAI and automationData analyticsFinancial reportingFinancial modeling Leadership/ management experienceAI and automationData analytics
AI drives need for new skills
As finance and accounting teams adopt generative AI and advanced data analytics tools, the demand grows for workers who can use them to improve financial models, enhance risk management, and more. While AI can help teams work more efficiently, some employees, especially less-seasoned staff, are missing out on learning the nuances and complexities of their roles through hands-on experience.Continuous learning and targeted training can help teams work with AI effectively. Employers should also help workers master the human side of AI, such as ethical use and validating accuracy.
Shift in high-demand skillsMore contract workers or consultantsOutsourcing of projectsIncreased hiringShift in high-demand skillsMore contract workers or consultantsOutsourcing of projectsIncreased hiring
How do we determine our salary figures and benchmarks? See our methodology.The salaries listed in the salary tables represent starting compensation only, meaning pay for someone new to a company in the position listed. Our estimates do not include bonuses, benefits or perks. We report salaries in percentiles and ranges, recognizing that professionals join companies at varied experience levels.Non-salary data referenced in this Salary Guide is based on online surveys developed by Robert Half and conducted by independent research firms. Respondents included hiring managers and employees from small (1-99 employees), midsize (100-999 employees) and large (1,000-10,000 or more employees) private, publicly listed and public sector organizations across Canada.
