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November 29, 2022

Industry Accounting Salary Outlook for 2023 is Not Horrible

Unless you have the word “chief” in your job title, 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, according to our analysis of the 2022 and 2023 Accounting & Finance Salary Guides from LHH Recruitment Solutions (formerly Accounting Principals).

Of the 27 industry jobs we analyzed, 23 have pay that, on average, will likely be higher next year than what LHH predicted for 2022. Of the four roles with base pay that is expected to be lower in 2023, two of them are C-level positions: chief accounting officer and CFO.

In both salary guides, LHH provided salary data for employees in three tiers based on experience:

  • Low: Zero to two years of experience in that position or one similar.
  • Medium: Three to 10 years of experience in that position or one similar.
  • High: Ten or more years of experience in that position or one similar.

Below are the projected base salaries for each of the 27 industry jobs in LHH’s 2023 salary guide, listed by experience, with a comparison of LHH’s 2022 projected salaries (2022 -> 2023) to see which roles’ pay is expected to increase or decrease next year:

Staff accountant

  • Low experience: $56,744 -> $57,937 (2.1%)
  • Medium experience: $67,061 -> $71,406 (6.5%)
  • High experience: $77,378 -> $85,922 (11%)

Average increase: 6.5%

Staff accountant, Big 4 experience

  • Low experience: $61,902 -> $70,076 (13.2%)
  • Medium experience: $70,156 -> $82,824 (18%)
  • High experience: $77,378 -> $95,265 (23.1%)

Average increase: 18.1%

Senior accountant

  • Low experience: $77,378 -> $79,107 (2.2%)
  • Medium experience: $90,790 -> $96,797 (6.6%)
  • High experience: $113,487 -> $126,181 (11.2%)

Average increase: 6.7%

Accounting supervisor

  • Low experience: $77,378 -> $76,650 (-0.9%)
  • Medium experience: $88,774 -> $87,939 (-0.9%)
  • High experience: $110,614 -> $116,487 (5.3%)

Average increase: 1.2%

Accounting manager

  • Low experience: $87,695 -> $83,065 (-5.3%)
  • Medium experience: $105,233 -> $99,678 (-5.3%)
  • High experience: $129,909 -> $137,320 (5.7%)

Average increase: -4.9%

Accounting manager, Big 4 experience

  • Low experience: $88,817 -> $104,598 (17.8%)
  • Medium experience: $100,716 -> $118,611 (17.8%)
  • High experience: $134,282 -> $176,479 (31.4%)

Average increase: 22.3%

Accounting director

  • Low experience: $118,646 -> $114,074 (-3.8%)
  • Medium experience: $149,597 -> $160,511 (7.3%)
  • High experience: $194,893 -> $233,361 (19.7%)

Average increase: 7.7%

Chief accounting officer

  • Low experience: $152,693 -> $132,552 (-13,2%)
  • Medium experience: $197,024 -> $162,524 (-17.5%)
  • High experience: $245,788 -> $192,659 (-21.6%)

Average increase: -17.4%

Chief financial officer

  • Low experience: $195,993 -> $193,875 (-1.1%)
  • Medium experience: $270,634 -> $254,387 (-6%)
  • High experience: $514,248 -> $459,321 (-10.7%)

Average increase: -5.9

Controller

  • Low experience: $113,487 -> $116,579 (2.7%)
  • Medium experience: $185,706 -> $212,888 (14.6%)
  • High experience: $257,925 -> $329,964 (27.9%)

Average increase: 15.1%

Assistant controller

  • Low experience: $95,303 -> $94,434 (-0.9%)
  • Medium experience: $121,741 -> $134,619 (10.6%)
  • High experience: $152,692 -> $188,424 (23.4%)

Average increase: 11%

Cost accountant

  • Low experience: $72,219 -> $72,810 (0.8%)
  • Medium experience: $77,378 -> $81,354 (5.1%)
  • High experience: $82,536 -> $90,496 (9.6%)

Average increase: 5.2%

Senior cost accountant

  • Low experience: $87,695 -> $90,882 (3.6%)
  • Medium experience: $103,170 -> $111,502 (8.1%)
  • High experience: $128,963 -> $145,352 (12.7%)

Average increase: 8.1%

Cost accountant manager

  • Low experience: $113,487 -> $112,253 (-1.1%)
  • Medium experience: $128,963 -> $142,353 (10.4%)
  • High experience: $144,438 -> $177,923 (23.2%)

Average increase: 10.8%

Financial reporting accountant

  • Low experience: $77,378 -> $84,461 (9.1%)
  • Medium experience: $82,536 -> $93,952 (13.8%)
  • High experience: $87,695 -> $104,103 (18.7%)

Average increase: 13.9%

Senior financial reporting accountant

  • Low experience: $87,695 -> $84,461 (-3.7%)
  • Medium experience: $98,012 -> $98,443 (0.4%)
  • High experience: $113,487 -> $118,871 (4.7%)

Average increase: 0.5%

Financial reporting manager

  • Low experience: $113,487 -> $113,603 (0.1%)
  • Medium experience: $128,963 -> $129,095 (0.1%)
  • High experience: $149,597 -> $159,198 (6.4%)

Average increase: 2.2%

Financial reporting director

  • Low experience: $180,548 -> $209,745 (16.2%)
  • Medium experience: $196,023 -> $254,130 (29.6%)
  • High experience: $206,340 -> $298,525 (44.7%)

Average increase: 30.2%

Internal auditor

  • Low experience: $61,902 -> $64,623 (4.4%)
  • Medium experience: $72,219 -> $78,624 (8.9%)
  • High experience: $82,536 -> $93,707 (13.5%)

Average increase: 8.9%

Senior internal auditor

  • Low experience: $82,536 -> $87,206 (5.6%)
  • Medium experience: $92,853 -> $102,311 (10.2%)
  • High experience: $103,170 -> $118,551 (14.9%)

Average increase: 10.2%

Internal audit manager

  • Low experience: $94,916 -> $99,399 (4.7%)
  • Medium experience: $107,185 -> $112,247 (4.7%)
  • High experience: $133,425 -> $145,714 (9.2%)

Average increase: 6.2%

Internal audit director

  • Low experience: $110,549 -> $126,146 (14.1%)
  • Medium experience: $155,889 -> $185,506 (19%)
  • High experience: $178,647 -> $221,698 (24.1%)

Average increase: 19.1%

Vice president of internal audit

  • Low experience: $144,438 -> $140,916 (-2.4%)
  • Medium experience: $170,231 -> $185,339 (8.9%)
  • High experience: $207,875 -> $252,569 (21.5%)

Average increase: 9.3%

Tax accountant

  • Low experience: $60,870 -> $67,312 (10.6%)
  • Medium experience: $66,029 -> $76,147 (15.3%)
  • High experience: $82,279 -> $98,953 (20.3%)

Average increase: 15.4%

Senior tax accountant

  • Low experience: $69,124 -> $72,994 (5.6%)
  • Medium experience: $85,526 -> $90,314 (5.6%)
  • High experience: $111,523 -> $122,814 (10.1%)

Average increase: 7.1%

Tax manager

  • Low experience: $98,012 -> $109,161 (11.4%)
  • Medium experience: $113,697 -> $126,631 (11.4%)
  • High experience: $148,363 -> $184,401 (24.3%)

Average increase: 15.7%

Tax director

  • Low experience: $130,380 -> $115,583 (-11.3%)
  • Medium experience: $172,126 -> $152,591 (-11.3%)
  • High experience: $228,451 -> $226,009 (-1.1%)

Average increase: -7.9%

ICYMI, seven of the 11 public accounting roles highlighted in LHH’s 2023 salary guide are projected to have higher salaries in 2023 than in 2022, with four of those seven expected to have double-digit increases.

You can find all of our content previewing public accounting salaries for 2023 here.

Latest Accounting Jobs--Apply Now:

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