5 Factors Affecting Controller Compensation

When hiring a controller, “you get what you pay for.” Match the experience to the key accountabilities. Yet, be careful not to “over hire” the first time you hire a controller. It’s easy to be enamored with the credentials of a CPA with public accounting experience, but not every business needs these credentials. Assuming you have a closely held business, below are the five (5) most important factors that affect the level of competency needed and thus, the resulting compensation.

1. Loan requirements: Would your banker prefer a CPA?
2. Complexity of transactions: Product or job costing required?
3. Accounting software: QuickBooks vs. enterprise level software
4. Financial analysis: Planning/forecasting vs. compilation.
5. Management: Will they manage others?