Southern California Salary Guide & Job Market Outlook - 2015
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Transcript of Southern California Salary Guide & Job Market Outlook - 2015
2015
Salary Guide &job market outlook
Southern california
2014: A Reflective Look Back . . . . . . . . . . . . . . . 1
2015: The Return to Economic Vibrancy . . . . . . . 4
Employer Solutions to Bridge the Talent Gap . . . 6
Finance & Accounting Salaries . . . . . . . . . . . . . . 8
Information Technology Salaries . . . . . . . . . . . . . 12
Human Resources Salaries . . . . . . . . . . . . . . . . . 14
About the Guide . . . . . . . . . . . . . . . . . . . . . . . . . 16
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Both the u.S. and Southern california economy experienced another bull market in 2014. at the time this salary guide was compiled, the u.S. was tracking GDP growth of 3 percent in the second half of the year and consumer confidence was at its highest level since before the Great recession. the macroeconomic impact of the affordable care act (aca) that rolled out in January was surprisingly imperceptible. But extreme weather conditions and a buildup of excess inventories caused a precipitous contraction in the first quarter. nonetheless, the economy quickly regained its strength and business leaders continued to maneuver on many fronts.
a RefleCTive lOOk baCk
2014
Economic Front
Most companies across all industries experienced profit improvements, prompting increased spending on items like plant and equipment upgrades, etc. the stock market, a leading economic indicator, had another record-breaking year and logged over a dozen record highs. Global M&a activity also reached a seven-year high that was driven by low interest rates, a healthy stock market, and strong balance sheets. in Southern california, we saw several large M&a and iPo transactions, driven in part by
active private equity firms and a consolidation in several markets. the construction and housing market continued to improve throughout california and shifted to a slower, but more sustainable mode of recovery, considering both demand for new homes and price increases began to moderate by mid-year.
Job Front
labor costs rose at the fastest rate in nearly six years and unemployment claims fell below 300,000 for the first time since the recession. unemployment rates continued to drop both nationally and locally, although unemployment rates are unlikely to reach pre-recession lows due to a high population of those deemed to be unemployable. Job growth remained relatively strong throughout the year, with national employment growth averaging between 200,000 and 250,000 in most months. in Southern california, we experienced the strongest employment gains since the end of the recession, with the most jobs coming from health services, leisure and hospitality, construction, professional, scientific and technical services.
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2014 a reflective look Back
talEnt Front
the talent gap became very apparent in 2014, creating a candidate-deprived market. the mismatch between labor needs and the skills of the labor force resulted in the return of sign-on bonuses, competing job offers, counter offers, rising salaries for specialized positions, and more intensified candidate poaching. according to WorldatWork, 74 percent of north american companies are offering sign-on bonuses to lure top talent, up from 54 percent in 2010.
in summation, 2014 was another year of slow but increasing economic growth and many business leaders became convinced that growth was sustainable. although there remains an undercurrent of uncertainty surrounding government policy, geopolitical issues and a slowdown overseas — business leaders have regained confidence, considering they have been able to successfully maneuver a wave of change on many fronts while maintaining profitability. to this end, the forward momentum gained in 2014 will serve as a springboard into 2015.
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2014 a reflective look Back
After years of anemic economic growth, leading indicators point to more vibrant growth in 2015. The forward momentum gained in the second half of 2014, combined with an improved economic landscape, will prompt companies to shift their focus to strategic growth, capital deployment, and business transformation initiatives. However, another wave of change on many fronts, combined with continued improvement in the labor market, will require business leaders to engage in a delicate balancing act between risks and opportunities.
Economic Front
the u.S. and local economies are projected to grow at a more vibrant pace in 2015
with GDP expected in the 3% range. a key to sustaining this vibrant economic growth is our financial markets, which are expected to remain stable. u.S. exports and demand from abroad will continue to increase although a slowdown with our trading partners does
present an element of volatility. on the M&a front, the buying frenzy
that reached a 7-year high in 2014 will continue through 2015, barring any
geopolitical or unanticipated economic events. home building and home prices, which
began to shift to a slower but more sustainable mode of recovery in 2014, will continue to cool off in 2015 due to a projected increase in new and resale housing units and lower housing affordability.
Government spending, which has been on a decline for the past few years, will remain flat. interest rates are expected to slowly rise as the government takes preemptive measures to stop the widening inflationary gap. and increased levels of capital will become available to fuel investment and it spending, which are both expected to rise in 2015.
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2015 the return to econoMic viBrancy
2015 the return to econoMic viBrancy
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Job Front
nationally, most sectors and regions are expected to perform well and create jobs in 2015, led by technology, construction, real estate, financial services, professional services, and health care. in Southern california, the sectors expected to grow and produce the most jobs include construction, education, health care, professional services, and leisure & hospitality. in california and the local region, payroll growth is expected due in part to an improving national and international economic outlook, as well as increased spending in construction and business investments. average hourly compensation is expected to increase by 2.5 – 3.5%, a modest improvement over 2013.
talEnt Front
the ensuing talent gap will continue to widen as specialized talent becomes more scarce and harder to attract. in fact, according to various surveys, the scarcity of skilled staff has moved to one of the top three challenges business leaders expect to face in 2015. Pressures from globalization, increased regulation, cybersecurity, Big Data, and a deeper demand for impactful business partnering and better analytics will exacerbate the need for fresh talent, which will result in increased labor costs as employers struggle to fill specialized roles and/or focus on developing existing staff.
CONSTRUCTION
JOBS
technologyReal Estate
FINANCEPROFESSIONAL
healthcare
In 2015, business leaders will maintain a positive disposition relative to their own organizations, although they will remain cognizant of risks both at home and abroad. To navigate the wave of change that is cresting on many fronts, organizations will become more operationally flexible and strategically innovative with the capability to respond quickly to external threats and disruptions and navigate the precipitous technological terrain. Furthermore, to overcome and bridge the ensuing talent gap, organizations will begin to develop new and/or upgrade existing talent acquisition and management strategies. To this end, we recommend the following talent solutions:
Showcase Your Strengths & Competitive Advantages: to stand apart from the competition and successfully lure highly-coveted talent, showcase what your company has to offer including your unique corporate culture, work environment, training and professional development programs, and available career paths. We recommend that you place emphasis on other key traits such as job and company stability, family-friendly and flexible work hours, great benefits packages and rewards programs. furthermore, tout your strengths and competitive advantages to your internal employees as well because people want to work for winners, and for companies that are making a difference in the community, in the industry, and in customer relationships.
Develop Effective Talent Strategies: to successfully hire and retain new and existing talent, organizations will need to have effective hiring, onboarding, retention and succession programs in place. talent strategies need to be developed not just for the entire organization, but also for each functional area of the company. organizational leaders need to be actively involved in the talent management process, and make recruitment, retention, leadership development, and succession planning a top priority. routine audits and assessments of talent strategies must be conducted to identify and rectify potential talent gaps and/or talent deficiencies. effective succession plans should include a chart which provides background information and skills of promising internal professionals and roles they could potentially fill.
Coaching & Mentoring: organizational leaders must identify and/or create viable career paths for emerging leaders, and ensure that these career paths are communicated to them. Particular attention should be paid to roles that are hard to replace, are likely to become increasingly important or provide support that is
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SolutionS to BriDGe the talent GaP
critical to the overall organization’s performance. internship and mentorship programs are a great way to capture and cultivate fresh talent and build a pipeline of high potential candidates and future leaders. organizations should have a comprehensive understanding of their human capital assets and design processes to foster internal job mobility.
Become a Learning Organization: Many organizations can help bridge their own talent gap and gain a competitive advantage by creating an environment that is conducive to professional growth and development and promoting team learning. allowing employees to share their ideas and expand their capacity to create their desired results will not only improve employee retention, it will also strengthen employee morale, foster innovation, and optimize organizational effectiveness
Revisit Your Hiring & Candidate Screening Process: Many organizations tend to place too much emphasis on finding candidates with above average credentials and highly specialized skills. unless these credentials and skills are absolutely necessary for specialized roles, experts recommend hiring generalists with high learning aptitudes and positive attitudes. experts say that focusing on the culture fit and finding candidates with the ability and willingness to learn quickly, rather than looking for the “perfect” candidate, has a stronger correlation to job performance compared to specialized skill sets and extraordinary credentials.
Expand Your Reach: now more than ever, organizations are able to harness highly intuitive atS systems, social media platforms, and web-enabled technologies to connect with and/or create talent communities. there are many emerging technologies such as new data sources that provide predictive insights into future performance, such as work samples, blogs, and social media contributions. there are also intuitive assessments that gauge a prospective candidate’s cultural fit and career aspirations.
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SolutionS to BriDGe the talent GaP
CHIEF FINANCIAL OFFICERREVENUE IN MILLIONS Low 2015 High 2015
500+ $371,000 $577,000
100-500 $258,000 $381,000
50-100 $180,000 $283,000
0-50 $149,000 $196,000
CORPORATE FINANCEEXPERIENCE / TITLE Low 2015 High 2015
SvP/vP of finance $180,000 $464,000
Sr Director/Director $149,000 $247,000
Manager $113,000 $144,000
Senior $83,000 $109,000
1-3 years $58,000 $88,000
to 1 year $49,000 $68,000
CAO/CONTROLLERREVENUE IN MILLIONS Low 2015 High 2015
500+ $206,000 $288,000
100-500 $175,000 $258,000
50-100 $144,000 $180,000
0-50 $118,000 $160,000
DIRECTOR OF ACCOUNTING/ASSISTANT CONTROLLERREVENUE IN MILLIONS Low 2015 High 2015
500+ $180,000 $263,000
100-500 $144,000 $207,000
50-100 $124,000 $165,000
0-50 $103,000 $146,000
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*Salaries do not include stock or bonus incentives, perks or other non-base compensation*add 5-10 percent for graduate degrees or professional certifications. executive-level positions such as cfo, cio, cto, chro and vice President are excluded from this rule, considering advanced degrees or certifications are assumed at this level
finance & accountinG SalarieS
finance & accountinG SalarieS
FINANCIAL/SEC REPORTINGEXPERIENCE / TITLE Low 2015 High 2015
vP/Director $134,000 $216,000
Manager $113,000 $144,000
Senior $93,000 $109,000
REVENUE ACCOUNTINGEXPERIENCE / TITLE Low 2015 High 2015
Director $128,000 $176,000
Manager $97,000 $134,000
ACCOUNTING MANAGERREVENUE IN MILLIONS Low 2015 High 2015
500+ $108,000 $144,000
100-500 $98,000 $129,000
50-100 $88,000 $108,000
0-50 $77,000 $98,000
SENIOR/STAFF ACCOUNTANTEXPERIENCE / TITLE Low 2015 High 2015
Sr/Sup Sr $83,000 $104,000
1-3 years $62,000 $88,000
to 1 year $49,000 $66,000
COST ACCOUNTINGEXPERIENCE / TITLE Low 2015 High 2015
Director/Sr. Manager $113,000 $170,000
Manager $96,000 $134,000
Senior $78,000 $109,000
1-3 years $62,000 $84,000
to 1 year $52,000 $69,000
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*Salaries do not include stock or bonus incentives, perks or other non-base compensation*add 5-10 percent for graduate degrees or professional certifications. executive-level positions such as cfo, cio, cto, chro and vice President are excluded from this rule, considering advanced degrees or certifications are assumed at this level
finance & accountinG SalarieS
TAXEXPERIENCE / TITLE Low 2015 High 2015
vP of tax/top tax exec $192,000 $330,000
Director $149,000 $223,000
Manager $109,000 $165,000
Supervisor $88,000 $130,000
1-3 years $66,000 $89,000
to 1 year $52,000 $73,000
TREASURYEXPERIENCE / TITLE Low 2015 High 2015
treasurer $175,000 $314,000
assistant treasurer/Director $134,000 $206,000
treasury Manager $98,000 $140,000
Senior treasury analyst $84,000 $114,000
1-3 years $66,000 $88,000
to 1 year $52,000 $68,000
INTERNAL AUDITEXPERIENCE / TITLE Low 2015 High 2015
vP of audit/top audit exec $180,000 $306,000
Director $135,000 $206,000
Manager $113,000 $165,000
Senior $88,000 $120,000
Staff $57,000 $94,000
*Salaries do not include stock or bonus incentives, perks or other non-base compensation*add 5-10 percent for graduate degrees or professional certifications. executive-level positions such as cfo, cio, cto, chro and vice President are excluded from this rule, considering advanced degrees or certifications are assumed at this level10
finance & accountinG SalarieS
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*Salaries do not include stock or bonus incentives, perks or other non-base compensation*add 5-10 percent for graduate degrees or professional certifications. executive-level positions such as cfo, cio, cto, chro and vice President are excluded from this rule, considering advanced degrees or certifications are assumed at this level
ACCOUNTS PAYABLE/ACCOUNTS RECEIVABLEEXPERIENCE / TITLE Low 2015 High 2015
Director/Manager $77,000 $118,000
Supervisor $61,000 $88,000
Specialist $41,000 $59,000
PAYROLLEXPERIENCE / TITLE Low 2015 High 2015
Director/Manager $82,000 $118,000
Supervisor $64,000 $88,000
Specialist $44,000 $77,000
CREDIT ANALYSIS/COLLECTIONSEXPERIENCE / TITLE Low 2015 High 2015
Director/Manager $82,000 $134,000
Supervisor $61,000 $88,000
credit analyst $52,000 $88,000
Specialist $39,000 $57,000
inforMation technoloGy SalarieS
IT EXECUTIVESEXPERIENCE / TITLE Low 2015 High 2015
chief information officer $172,000 $409,000
chief technology officer $148,000 $264,000
vP it $173,000 $252,000
it Director $140,000 $217,000
information Systems Manager $94,000 $158,000
APPLICATIONS DEVELOPMENTEXPERIENCE / TITLE Low 2015 High 2015
Program Manager $101,000 $156,000
Project Manager $92,000 $162,000
Systems architect $105,000 $165,000
applications architect $94,000 $191,000
Business Systems analyst $87,000 $140,000
technical Product Manager $93,000 $155,000
Developer/Programmer $70,000 $157,000
erP Business analyst $88,000 $139,000
lead applications Developer $93,000 $135,000
Developer: applications $89,000 $133,000
Mobile applications Developer $92,000 $117,000
technical Writer $68,000 $107,000
application engineer $94,000 $140,000
RISk AND COMPLIANCEEXPERIENCE / TITLE Low 2015 High 2015
it audit Director/Manager $105,000 $188,000
it auditor $88,000 $138,000
QUALITY ASSURANCE & TESTINGEXPERIENCE / TITLE Low 2015 High 2015
Qa testing Manager $101,000 $142,000
Qa associate/analyst $75,000 $120,000
*Salaries do not include stock or bonus incentives, perks or other non-base compensation*add 5-10 percent for graduate degrees or professional certifications. executive-level positions such as cfo, cio, cto, chro and vice President are excluded from this rule, considering advanced degrees or certifications are assumed at this level12
inforMation technoloGy SalarieS
*Salaries do not include stock or bonus incentives, perks or other non-base compensation*add 5-10 percent for graduate degrees or professional certifications. executive-level positions such as cfo, cio, cto, chro and vice President are excluded from this rule, considering advanced degrees or certifications are assumed at this level
DATABASE ADMINISTRATIONEXPERIENCE / TITLE Low 2015 High 2015
Database Manager $105,000 $171,000
Developer: Database $102,000 $153,000
Database administrator $97,000 $144,000
Data architect $129,000 $190,000
Data Warehouse analyst $101,000 $128,000
Business intelligence analyst $98,000 $148,000
INTERNET & NETwORkINGEXPERIENCE / TITLE Low 2015 High 2015
Web Developer/Programmer $90,000 $146,000
network architect $100,000 $162,000
network engineer $95,000 $142,000
SOFTwARE DEVELOPMENTEXPERIENCE / TITLE Low 2015 High 2015
Principal Software engineer $125,000 $175,000
Senior Software engineer $112,000 $166,000
Software engineer $84,000 $124,000
Software Developer $89,000 $133,000
HELP DESk & TECHNICAL SUPPORTEXPERIENCE / TITLE Low 2015 High 2015
Manager $72,000 $126,000
Desktop Support Specialist $43,000 $68,000
Systems administrator $80,000 $124,000
Systems engineer $87,000 $129,000
help Desk $49,000 $84,000
Pc technician $48,000 $83,000
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huMan reSourceS SalarieS
HR EXECUTIVESEXPERIENCE / TITLE Low 2015 High 2015
chro/vP $129,000 $388,000
GENERALEXPERIENCE / TITLE Low 2015 High 2015
Director $104,000 $197,000
Manager $79,000 $139,000
Business Partner $88,000 $144,000
hr Generalist $67,000 $108,000
coordinator $45,000 $65,000
TALENT ACQUISITIONEXPERIENCE / TITLE Low 2015 High 2015
Director $124,000 $196,000
recruiter $54,000 $86,000
recruiter - corporate/Generalist $68,000 $119,000
COMPENSATION & BENEFITSEXPERIENCE / TITLE Low 2015 High 2015
compensation & Benefits Director $102,000 $165,000
compensation & Benefits Manager $77,000 $142,000
compensation & Benefits analysts $67,000 $95,000
Benefits analysts/admin $51,000 $75,000
*Salaries do not include stock or bonus incentives, perks or other non-base compensation*add 5-10 percent for graduate degrees or professional certifications. executive-level positions such as cfo, cio, cto, chro and vice President are excluded from this rule, considering advanced degrees or certifications are assumed at this level14
huMan reSourceS SalarieS
*Salaries do not include stock or bonus incentives, perks or other non-base compensation*add 5-10 percent for graduate degrees or professional certifications. executive-level positions such as cfo, cio, cto, chro and vice President are excluded from this rule, considering advanced degrees or certifications are assumed at this level
EMPLOYEE & LABOR RELATIONSEXPERIENCE / TITLE Low 2015 High 2015
employee & labor relations Director $113,000 $185,000
employee relations Director $109,000 $175,000
labor relations Manager/Specialist $65,000 $127,000
TRAINING & DEVELOPMENTEXPERIENCE / TITLE Low 2015 High 2015
training & oD Director $105,000 $186,000
organizational Development Dir $102,000 $185,000
training & Dev Director $96,000 $175,000
employee Dev/training Specialist $63,000 $102,000
HRISEXPERIENCE / TITLE Low 2015 High 2015
Director $113,000 $196,000
analysts $67,000 $110,000
PAYROLLDirector $86,000 $132,000
Manager $68,000 $100,000
analyst $45,000 $79,000
HEALTH & SAFETYEXPERIENCE / TITLE Low 2015 High 2015
health & Safety Manager $74,000 $134,000
Workers comp administrator $59,000 $87,000
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About the Guide
Our salary guide is indexed specifically for Southern California and includes projected starting salary ranges for hundreds of finance, accounting, information technology and human resource positions. The figures in the guide are adjusted for Southern California using a blended Los Angeles/Orange County model. The salary ranges represent base compensation only, considering there are many variables that influence compensation including, but not limited to, tenure, advanced degrees, certifications and work ethic. Bonus incentives and other forms of compensation, such as 401(k) plans, stock options, and retirement plans, are also not factored into our calculations.
The qualitative and quantitative data published in this salary guide was gathered from a myriad of reliable sources including, but not limited to, the U.S. Bureau of Labor Statistics, local academic institutions, the Los Angeles Economic Development Corporation (LAEDC), onilne sources, economists at the national and regional level, professional organizations such as the AICPA and SHRM, and various studies published by large consulting firms including Deloitte and Mercer. Additional considerations include compensation statistics from proprietary sources, including our database of over 50,000 local candidates, our high volume of executive search and placement activity, along with interviews with various hiring authorities. A final analysis was conducted by our team of highly tenured, executive search consultants and subject matter experts, including Big 4 CPAs. The content contained in our salary guide represents our interpretation and analysis of information generally available to the public and/or derived from sources deemed to be reliable. We make no representation or warranty, expressed or implied, as to the accuracy and completeness of the information contained herein.
notes
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