By Robert Davis
Accounting and finance professionals in Florida have been hard to find for several years now, and 2020 looks to be no different. The star performers coming out of school get sucked up into the largest public accounting firms, and other skilled candidates are entertaining multiple job offers with better perks and benefits that they wouldn’t have dreamed of, just a few years ago.
According to recent projections published by the Bureau of Labor Statistics (BLS), financial jobs are expected to grow 6% between 2018 to 2028.
While the reported median wages for accountants, financial specialists and auditors are $70,500, the average salary a financial manager in Florida takes home is about $132,850.
This means that companies that offer below-average compensation may lose out on hiring their most sought-after job candidates. And firms that tap recruiter partners and industry guides for information and guidance can take the guesswork out of their negotiations.
Financial Skills Are High In Demand
Nearly every industry sector in Florida is scrambling to find proficient number-crunchers for their organization. The state’s diversified economic structure, cultural influence and proximity to Latin America have also helped make Florida an international banking center with shared services in finance, insurance, accounting, and more.
In fact, Florida is home to 129,500+ financial and professional services firms and their 897,500 employees.
Sectors that employ the most accounting and finance candidates in Florida are:
- Commercial Banks
- Legal Services
- R & D and related fields
Top 5 In-Demand Finance and Accounting Positions in Florida
Whether you are already employed or looking for a job change, here are the most sought-after finance and accounting positions in Florida.
- Internal Auditor: Businesses need auditors who can unfold and respond to emerging risk complications. General auditors armed with qualifications like CPA or CIA certifications are perfect candidates for this job. The average salary for an auditor in public accounting with a few years of experience is $52,520.
- Business Analyst: Business analysts are the linchpins of businesses and make data-driven decisions based on predictive analysis. The current midpoint salary for a CRM business analyst is $97,000. This role requires candidates with problem-solving abilities and strong interpersonal skills.
- Payroll Manager: You can start your career in payroll administration with a bachelor’s degree or an associate’s degree with a CPP qualification. Employers ask for a keen understanding of accounting practices and payroll software. You can expect about $72,750 per year in starting salary.
- Financial Analyst: Financial analyst jobs are among the hottest positions in the Florida market, with the midpoint salaries in financial services for professionals with one to three years of experience being $69,250. Organizations prefer self-starters with an MBA, but firms also employ candidates with a bachelor’s degree and a CFA certification.
- Accounting Manager: You may need to be familiar with financial software and accounting automation, in addition to having a bachelor’s or master’s degree. Employers ask for accounting certifications such as the CPA, CMA or CGMA. The current midpoint salary for an accounting manager is $92,000 per year.
Other Skills and Certificates That Will Add Value
Tomorrow’s ideal employee will find technology playing an even more prominent role in finance.
“The biggest by far change over the last few years—and it continues to evolve and accelerate—is the technology and innovation that is occurring in all sectors, but especially in the financial sector,” says Greg Smith, Florida Market President, Bank of America.
Candidates who will gear themselves to adopt technology skills like machine learning, analytics, cloud-based systems, QuickBooks (for small businesses), and emerging tools—and sought-after attributes such as critical thinking, communication, verbal and written skills, and leadership—can hope to find a premium with hiring managers.
Certifications, Licenses and Registrations
Apart from owning a bachelor’s degree from an accredited university and completing college coursework, most candidates with an additional master’s degree or certifications will find better job prospects. Some popular certifications include:
- American Institute of Certified Public Accountants
- Accredited in Business Valuation (ABV)
- Certified Public Accountant (CPA)
- Personal Financial Specialist (PFS)
- Certified Information Technology Professional (CITP)
- Institute of Management Accountants
- Certified Management Accountant (CMA)
- Institute of Internal Auditors
- Control Self-Assessment (CCSA)
- Certified Internal Auditor (CIA)
- Certified Financial Services Auditor (CFSA)
- Certified Government Auditing Professional (CGAP)
- Certification in Risk Management Assurance (CRMA)
- ISACA (Information Systems Audit and Control Association)
- Certified Information Systems Auditor (CISA)