Dive Brief:
- North American companies increased salaries for finance-related roles by an average of 6% over the past 12 months amid heightened competition for skilled talent, according to Controllers Council, a professional association.
- Executives received the largest average increases at 6.7%, followed by directors at 6.2%, managers at 5.9% and clerical and administrative staff at 5.7%, according to the council’s 2026 Corporate Finance and Accounting Talent Study released July 6. Survey respondents projected average salary increases of 5% in the next 12 months.
- “This year’s talent survey continues to reinforce a ‘perfect storm’ of variables driving accounting and finance salary growth: shortages lead to turnover, lead to hiring,” the report said. “Supply and demand drive up compensation. Improving macroeconomics add confidence in spending and investment.”
Dive Insight:
The higher salaries reflect a more competitive market for finance talent. Sixty-one percent of survey respondents said they are experiencing either minor or significant shortages of finance and accounting talent, up from 46% who reported shortages in the prior year.
The shift is increasing pressure on CFOs and controllers to rethink how they attract and retain talent.
Controllers remain the most difficult finance role to recruit, cited by 44% of respondents. Other challenging areas include bookkeeping, accounting, financial reporting, financial planning and analysis, and tax compliance.
For the first time in four years, competitive salary ranked as the top strategy organizations use to attract and retain finance professionals, followed by comprehensive benefits packages, training and development opportunities and company culture.
Still, higher pay alone may not be enough to prevent turnover.
More than half of respondents — 54% — said the leading reason finance employees leave is a lack of career advancement opportunities, up from 43% in the prior-year survey. Inadequate compensation and benefits ranked second at 29%, followed by limited flexibility or work-life balance at 26%.
“For finance leaders, compensation should be considered one component of a broader talent strategy,” the report said. “Organizations that combine competitive pay with clear career progression, modern finance technology, and leadership development will likely be better positioned to retain high-performing professionals in an increasingly competitive labor market.”
The council surveyed more than 350 North American finance leaders including controllers, CFOs, chief accounting officers and vice presidents of finance.