Paul McDonald, senior executive director for Robert Half, told AccountingWEB that regulatory demands, the need to mine financial data to guide business decisions, and the urgency to replace finance and accounting positions that were eliminated during the economic downturn are driving salaries higher for in-demand professionals.

"Companies also are commonly finding a dearth of candidates for highly sought roles, and they need to enhance their compensation offerings to attract – and then retain – top performers," he said. "The addition of new accounting and finance positions will help support organizational growth and bench strength given impending Baby Boomer retirements. Companies that want to prevent the 'brain drain' should prepare now for future staffing needs."