The long arm of Metro Vancouver’ real estate sector is driving much of the demand for accounting services in the region, according to a new report.
Employment agency Impact Recruitment says the strongest demand is aimed at property and project accountants, resulting high salary expectations among those local professionals.
“Salary expectations remain higher in these areas and continue to be met by most employers. In some cases, employers are getting creative, putting together competitive compensation and benefits packages to win over their preferred candidate,” said the July 27 report.
A senior project accountant with at least six years’ experience typically makes $85,000 annually. Those with three to five years’ experience, who are in intermediate positions, make $72,000 on average and those in junior positions with less than two years’ experience typically earn $55,000.
For property accountants, senior workers will average $82,000, intermediate workers will average $70,000 and junior workers will average $55,000 annually.
These fall into the middle-to-high ranges when compared to other finance and accounting roles.
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Salary expectations rose in 2022 as employers were increasingly hunting for new talent.
The report says this is pushing many companies to “get creative” with how they compensate employees, with many offering additional dollars to stay competitive.
This practice is especially common for intermediate and senior employees.
“The inflated compensation packages that were being offered [in some sectors] in 2022 have returned to a more sustainable level as employers prioritize allocating more budget to hiring senior-level candidates,” said the report.
“In other industries, where demand continues to be high, companies are continuing to offer competitive compensation packages in order to secure professionals who appear to be an excellent long-term fit and meet all criteria.”
Contract work in finance and accounting is also seeing a rise as workers prioritize flexibility and companies utilize these individuals for short-term needs.
“For many employers prioritizing immediate or short-term staffing needs, independent contractors and consultants are proving to be a viable temporary solution to filling talent gaps. With demand for niche and highly specialized skill sets growing, contract-based employment opportunities are in no short supply,” Impact Recruitment said in a press release.
