“We are looking to hire a college grad with two years or so of relevant experience, not necessarily a CPA,” a BVR subscriber writes, “and are thinking in the $40,000 range.” Could data from the soon-to-be-released 2007 Business Valuation Firm Economics & Best Practices Survey confirm salary levels for a new financial analyst in the Midwest region (excluding Chicago)?
What we found: Overall, the median entry-level salary for ALL BV firms is just about $42,000. In addition, about 55% of those firms give an annual bonus of $3,650, on average. Drilling down to BV firms in the Midwest (excluding Illinois), the median entry salary is still $40,000, and the average slightly higher, at $41,191. Our conclusion: A starting salary in the $40K to $42K range would be reasonable, particularly if it includes a bonus.
This is just a small example of how BV professionals can make the data work in their 2007 hiring, budgeting, and practice management plans. To pre-order your copy of BVR’s full report, click here.
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