Tax directors are responsible for a range of tasks for their organizations – creating, implementing, managing, and analyzing tax policies and objectives, staying ahead of changes in the tax field, and directing other financial employees. Tax directors are expected to have several years’ experience and possess significant creativity and flexibility. They are expected to know the applicable laws and rules and to keep their knowledge current by attending continuing education classes and participating in conferences and other gatherings of like-minded professionals.
Much is expected of tax directors, and as a result, salaries tend to follow suit. A study of tax director salaries across the country performed by Indeed.com found that, on average, tax directors receive a salary over twice as high as the average salaries for all job postings. As of July 10, 2013, the average tax director in the U.S. could expect to make approximately $132,000 per year. Nationwide, salaries for tax directors have fallen slightly over the past year, although they still outperform the average U.S. salary.
Salary.com provides similar numbers for tax directors, tracking a low of $110,000 in salary for the position and a high of $190,000 nationwide. These numbers vary, depending on location and also on the organization; larger organizations in major metropolitan areas tend to pay tax director salaries at the higher end of the scale, while smaller organizations in smaller cities pay less.
The numbers do not include the value of benefits like health care, retirement, life or disability insurance policies, and other compensation. These benefits can become key negotiating points when seeking a position as a tax director.
“Tax director” may describe a number of related positions, all of which tend to come with similar salaries. Tax directors responsible for international or global taxation issues tend to make slightly more – about $155,000 per year, according to Indeed.com – while tax analysts or managers tended to make slightly less. Seniority also played a key role in increasing the expected salary for a tax director.
Daley & Associates is the Northeast’s premier staffing firm for placing financial and tax professionals. If you’re looking for a new position in finance or seeking the next step on your career ladder, contact us today.