More than 40 percent of San Francisco Bay Area CFOs predict an increase in hiring in the accounting field, according to a new survey by CPA firm Armanino McKenna LLP.
For those who anticipate hiring new employees, the most desired new hire is the mid-range accountant, such as an analyst, staff or senior accountant.
Companies are starting to see growth and are reinvesting in their businesses, said Armanino Executive Search director Julia Holian in a statement. CFOs are well aware that their staff members have been operating at capacity. It makes sense that there will be an increased need to hire experienced accountants and analysts to meet new demands on their departments.
More than 70 percent of the organizations that responded to the survey said they plan to provide bonuses to staff in 2010. The percentage of CFOs who expect bonuses in 2010 varied by organization type, from 77 percent of CFOs in venture capital and private equity-backed firms expecting bonuses, to 71 percent in publicly traded companies, 68 percent in privately held organizations, and only 39 percent in nonprofits.
Fewer than 3 percent of the 170 organizations that participated in the survey are enforcing mandated work furloughs, and just 30 percent are instituting salary freezes. Nearly two thirds of the survey respondents felt that their current base salaries were within or above market standards.
