With the U.S. economy continuing to be in recession, American firms are likely to carry forward their cost cutting drive into next year in doling out starting salaries, except those with expertise, says a survey.
According to a report by staffing consulting firm Robert Half International (RHI), starting pays in the accounting and finance, information technology and administrative fields are expected to remain relatively flat or see modest decline next year, but some positions will buck this trend.
As per the report, as many as 10 positions would hold strong or might see a slight gain and would be able to retain the national average salaries.
“A focus on cost control will continue to shape the hiring landscape next year, and starting salaries clearly are being influenced by that trend,” said RHI Chairman and CEO Max Messmer.
Messmer added “at the same time, companies recognise the need to invest in staff members with specific expertise who can help them capitalise on emerging opportunities.”
The report said in accounting and finance positions starting salaries are expected to increase by an average of 0.5 per cent in 2010 as companies seek financial professionals who can help manage costs and enhance profitability.
Positions with best prospects in accounting and finance include tax accountant, compliance director, credit manager etc. People at these posts are likely to see an average national starting salary of $42,500-108,500.
In the IT sphere, the national starting salaries are likely to decrease by an average of 1.3 per cent in 2010, while, employees in positions like Network administrator, Information systems security manager and systems engineer would take home salaries in the range of $54,500-1,30,750.
Though demand is steady for administrative candidates customer service representative and executive assistant, in 2010, the starting salaries for administrative professionals are projected to fall by an average 2.2 per cent. These individuals are likely to see starting salaries in the range of $22,700-47,000.
Messmer noted that many firms continue to report challenges finding highly skilled candidates, despite current unemployment figures, largely due to continued competition for the best workers, the unwillingness of professionals to leave secure positions, and as firms have increased their reliance on interim professionals and temporary-to-full-time arrangements
