2016 DeWinter Group

Salary Survey

2016 DEWINTER GROUP SALARY SURVEY | 1

To our Valued Clients and Candidates,

What a year it was! We had record placements and spectacular growth in our client portfolio. Our success comes by virtue of having an amazing team who deepened existing relationships and forged new ones across the Bay Area. But the true catalyst is you, your partnership and trust in us, and your commitment to your goals. As we wrap up 2016, we want to acknowledge our clients and candidates for your business and loyalty. THANK YOU!!!

We had the “Tale of Two Markets” in 2016. The growth in the first half of the year was tempered by global economic forces in Asia, inflation fears, and unstable oil prices. Concerns of a US recession faded by midyear and we are seeing more optimism as GDP forecasts indicate stronger growth and justification for increasing interest rates. The new White House Administration promises less regulation and an overhaul of the tax code which may be a catalyst for economic growth. In addition, following the stabilization of venture funding and more IPO activity, we saw more hiring activity in the second half of 2016.

Looking forward to 2017, IPO activity and business spending are expected to increase. The evolution of the Bay Area’s industry diversity marches to its own drum beat with the race to driverless cars, AI and machine learning, virtual reality and all the other emerging technologies that define the San Francisco Bay Area economy. With the upbeat outlook, finding and attracting qualified talent will be even more challenging, but continuing consolidation in the markets will partially offset that demand to some degree.

As we gear up for 2017, we are excited to announce the launch of our strategic initiative, DeWinter Technology (DWT). For years, we have leveraged our functional knowledge of Accounting and Finance to talented professionals in the CFO organization. Finance and information technology work hand-in-hand to provide market and business intelligence to business leaders, so the move into Technology is a natural fit. DeWinter Technology will address full-time, interim and project-based demand in IT organizations across the Bay Area.

The DeWinter Group had an outstanding 2016 – we wouldn’t be here without you, our clients, candidates and friends. We look forward to all the good things in 2017.

Thank you for your trust.

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2016 DeWinter Group Salary Survey

Competitive compensation is cited by our clients as one of the most important factors when it comes to attracting and retaining key employees. The base salary is only one component of the compensation package consideration so let us simplify it for you. This survey consists of hundreds

of data points in 2016 that represent full-time permanent roles from multinational corporations to private family-owned businesses. As a top recruiting firm in the Bay Area, we use our vast network and market knowledge to help your organization find (and keep) the best talent.

DeWinter Group provides permanent placement and interim or temporary services that range

from high-level retained search to staff levels in finance and accounting. Specifically, we focus within the SF Bay Area, which includes San Francisco, the East Bay, the Peninsula and the South Bay. Given our functional niche, our survey provides valuable detailed information for those who lead finance organizations in the Bay Area.

With our many years of building relationships in the Bay Area, we understand the rapid pace of change from new and emerging business models. Every hire a company makes is important and every role is unique. Working with the DeWinter Group increases the likelihood that a new hire will stay with the company, saving clients substantial money and untold hours. We invite the opportunity to work with each organization and requirements of the role. We provide an excellent sounding board for setting compensation levels, planning budgets and executing your hiring plan.

Survey Findings

2016 was a busy year for DeWinter Associates, our contingent direct hire business, and DeWinter Partners, our retained search business. Job orders reflected the demands of burgeoning companies throughout the Bay Area, new roles for expanding finance organizations and specializations in finance, revenue and technical accounting. Momentum is picking up from our recent investments in the recruiting team and in executive retained search. As the team continues to build relationships, we expect strong returns over the long-term.

Consulting Compensation Insights

We would also like to provide a broad view of compensation in the consulting landscape, to briefly share our observations of trends. Typically, we would consider base salary of permanent roles to be a good indicator of consulting pay rates. However, we noticed a divergence in 2016 for certain levels due to the nature of the assignment and responsibilities.

Aggregate pay rate for consultants increased 5% in 2016. Finance Managers and Senior Financial Analysts experienced the most surprising increase of 16%, attributed to increased demand for financial system expertise relating to ERP implementations and system upgrades. This was especially prevalent for start-ups implementing strategic planning systems. We expect the high demand for system related skills to continue into 2017.

Permanent Placements and Retained Searches

Our survey findings on the following pages highlight permanent and retained search orders. We prepared the data sets by levels as well as publicly traded versus private companies as the roles and salaries vary between those organizations.

Year-over-Year Pay Rate Change

0%

5%

10%

15%

20%

Controller Accounting Manager

Finance Manager and

Senior Financial Analyst

Senior Accountant

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Table 1

Public Company

2016 2015

Job Title Salary Low Salary High Salary Low Salary High

VP Finance $237,000 $283,000 $238,000 $276,000

VP Controller 225,000 255,000 222,000 265,000

Director, Revenue 185,000 215,000 182,000 205,000

Director, Finance 180,000 210,000 187,000 202,000

Director, SEC Reporting 180,000 210,000 185,000 207,000

Director, Accounting 170,000 200,000 177,000 190,000

Manager, SEC Reporting 140,000 160,000 138,000 155,000

Manager, Revenue 135,000 165,000 135,000 152,000

Manager, Finance 130,000 165,000 124,000 152,000

Manager, Accounting 125,000 145,000 131,000 145,000

Payroll Manager 113,000 135,000 115,000 142,000

Senior Analyst, SEC Reporting 95,000 102,000 85,000 105,000

Senior Analyst, Finance 92,000 113,000 91,000 107,000

Senior Revenue Analyst 87,500 102,500 90,000 107,000

Senior Accountant 84,000 98,000 86,000 101,000

Staff Accountant 77,000 90,000 67,000 76,000

Financial Analyst 75,000 99,000 72,000 84,000

Table 2

Private Company

2016 2015

Job Title Salary Low Salary High Salary Low Salary High

VP Finance $200,000 $240,000 $205,000 $238,000

VP Controller 175,000 194,000 185,000 202,000

Director, Revenue 165,000 190,000 169,000 184,000

Director, Accounting 160,000 180,000 162,000 181,000

Director, Finance 159,000 181,000 167,000 179,000

Manager, Revenue 126,000 151,000 122,000 146,000

Manager, Finance 121,000 142,000 112,000 142,000

Manager, Accounting 113,000 135,000 120,000 132,000

Senior Analyst, Finance 94,000 116,000 94,000 116,000

Senior Revenue Analyst 87,000 110,000 88,000 108,000

Payroll Manager 85,000 110,000 91,000 118,000

Financial Analyst 83,000 102,000 67,000 83,000

Senior Accountant 81,000 97,000 82,000 99,000

Staff Accountant 66,000 80,000 65,000 75,000

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Public Companies

For our public company clients, the searches we perform tend to cover a wide range of roles at all levels. These finance roles support products, geographic regions, business units, and corporate functions such as sales, information technology, research and development, and investor relations.

Vice President

Base salary for Vice President levels saw a slight increase of 2% from 2015 to 2016 but we did see an overall shift toward variable compensation, with stock and bonus ranging from 30% to upwards of 60%. The bonus range depends on company size, company performance, and the function supported in the organization.

Director

For Director level searches, we saw an increase of 3% from 2015 to 2016 due to the size of the hiring organizations primarily small and mid-cap companies. The experience requirements for this role varies in years from 8 years at small to mid-size organizations to 15+ years at larger companies or specialized roles.

Manager

Manager level roles saw a minor increase of 2% in base salary compared to the prior year as we saw more competition in hiring at this level. Following the surge of evolving business models, there continues to be highly sought after specializations in revenue and technical accounting, requiring a CPA certification. Bonus is 10% to 20% for most of our clients.

Public Company

Average Base Salary Change(year over year increase)

Level 2016 2015

Vice President 2% 6%

Director 3% 3%

Manager 2% 4%

Senior 1% 4%

Staff 15% 7%

Senior

Senior staff base salaries remained consistent with the prior year. We saw public companies hiring at this level for revenue, finance, and compliance for small cap companies. Most senior staff positions require a CPA or MBA. To attract talent, companies also pay bonuses ranging from 5% to 15%.

Staff

Staff and analyst level base salaries increased 15%, the highest increase compared to all the other levels. There was a spike in demand for this level due to a slight increase in supply met with competition for top talent. Most of the job orders for this level were for financial analysts and staff accountants at small and mid-cap companies. We also see our investment in our recruiting team paying dividends at this level as our portfolio expands. We anticipate future job orders to reflect the expansion in higher level searches.

Public Company

Average Base Salary by Level2016 2015 2014

Vice President

Director

Manager

Senior

Staff

Leve

l

Average Base Salary

$250K$245K

$231K

$194K$189K

$183K

$141K$138K$132K

$97K$96K$93K

$85K$74K

$69K

$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000

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Private Companies

Hiring trends for private companies in the Bay Area followed the path of venture funding — early stage start-ups with a long-term business plan and late stage start-ups nearing a concrete IPO.

As a general rule, variable compensation is part of the total compensation at later stage pre-IPO companies and less so at early stage companies. Equity offerings differ in pre-IPO companies, dependent on job responsibilities, funding and growth stage, among other considerations. We typically see the compensation package evaluated as a whole, trading off between equity and base salary.

Vice President and Director

We saw an increase in hiring Vice Presidents and Directors at early and mid-stage pre-IPO companies, who were hiring their first permanent finance lead. Correspondingly, there was a slight decrease in base salary as these compensation packages tend to be weighted towards equity and less in cash compensation. Most hiring organizations are filling out the senior ranks in anticipation of stronger valuations and performance in 2017. Director levels typically had a preference for CPA certification. If offered, bonus tends to be less than those offered in public companies and vary widely depending on the cash position and profitability of the company.

Private Company

Average Base Salary Change(year over year increase)

Level 2016 2015

Vice President –3% 5%

Director 0% 4%

Manager 3% 4%

Senior 3% 3%

Staff 15% 5%

Manager and Senior

Manager and Senior level roles saw base salary increase 3% compared to the prior year. These are primarily operational roles and also required a technical background with a long-term view on scaling with the department. Hiring organizations continue to have a preference for CPA certification at this level and looked for candidates to be hands-on with revenue recognition and IPO readiness. The ideal background was a mix of public accounting and industry.

Staff

Staff and analyst level base salaries increased 15%, the highest increase in recent years and compared to all the other levels. In the prior year, we saw an increase of hiring at the Manager and Senior levels to build the accounting team. In 2016, we saw the “build out” with an increase in hiring staff to support growth and anticipate this trajectory and scaling to continue through 2017.

Private Company

Average Base Salary by Level

$202K$209K

$199K

$173K$173K

$167K

$130K$126K

$121K

$98K$95K

$91K

$83K$72K

$68K

2016 2015 2014

Vice President

Director

Manager

Senior

Staff

Leve

l

Average Base Salary

$0 $50,000 $100,000 $150,000 $200,000 $250,000 $300,000

We Build Our Network One Relationship at a Time.

About Dewinter Group

DeWinter Group was formed to be the leader in providing high-level accounting and finance consulting services to Bay Area companies. To get more information on how we might assist your firm with an unexpected hiring need or a comprehensive hiring plan, please visit our website www.dewintergroup.com or e-mail info@dewintergroup.com.

San Francisco

101 2nd Street Suite 375 San Francisco, CA 94105

Campbell

1901 S. Bascom Avenue Suite 660 Campbell, CA 95008

Main Office Number

(408) 297-7500