Monday 29 September 2014

Five resources for salary research

Salaries vary significantly from state to state and from one firm to the next. Along with starting pay, you’ll also want to find out how much you can potentially earn as you climb your chosen career ladder. For example, while tax accountants and tax lawyers attract roughly the same starting salary, the latter can expect to earn $50,000 more when at the top of their field.

Here are five resources to get you started in your search.

1. MyCareer

This popular job-search website pulls its salary data from positions advertised in the last 90 days. It also allows you to drill down to the relevant sub-sector – for example, under the ‘Legal’ category, you can find the average salary range of lawyers specialising in taxation.

2. Hays

With offices in Australia and New Zealand, the Hays annual salary guide covers payroll trends in both countries. Tax accountant salaries in the ‘Commerce and Industry’ and ‘Professional Practice’ sectors are listed by geographic location, and further sub-categorised according to length of industry experience. Legal salaries cover both in-house roles and top-tier, mid-tier and small private practice firms.

3. Robert Half

Robert Half International publishes an annual Salary Guide containing comprehensive salary information for finance and accounting jobs in Auckland, Brisbane, Melbourne, Perth and Sydney. Data for small, medium and large firms is included under each job category. If you are interested in an in-house tax accountant role within the mining sector, that’s also covered. You can also find out how much salaries have changed since last year.

4. Robert Walters

Now in its 15th edition, the Australian version of the Robert Walters Global Salary Survey looks at both permanent (per annum) and contract (per hour) pay ranges for tax accountants and tax managers, as well as legal professionals (albeit not specific to tax law).

5. PayScale

The salary data on this website – which includes tax professionals – is self-reported by employees, so the figures may not be the most solid. However, the site does give you the option of generating a salary report that tells you how well you are doing relative to your industry peers – in exchange for your own salary data, of course.

Snagging a salary package within the tax sector that ticks all the right boxes can be tricky, but these resources can at least ensure you are coming to the negotiating table with the right information on hand.

Give yourself the edge with free Student Membership

If you are a tertiary education student, The Tax Institute can help you progress in your career journey.

Find out about Student Membership.


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