News
11 May 2015 01:05pm

Salaries and bonuses up for accountants

The outlook is positive for the accountancy profession as bonuses and salaries have increased

The average bonus for an accountant in the UK now stands at £10,733, 16% of annual salary. The total bonus pot is £1.2bn this year – £100m more than in 2013/14.

The number of accountants who received a bonus this year jumped from 53% to 61%, according to research from accountancy recruiter Marks Sattin.

The average basic salary for accountants also slightly improved over the last 12 months by 0.4%, taking it to £67,083. In addition, more than three quarters expect to see their salaries increase further over the next 12 months.

“Accountants are sharing a bumper bonus pot this year, riding high on the back of the economic recovery,”said Dave Way, managing director of Marks Sattin.

Just 27% of accountants said that they were expecting their organisations to make budget cuts over the year ahead, with only 21% predicting a salary freeze.

More than a quarter (27%) feel very secure in their current role, while 61% feel generally secure.

The confident outlook has led to an openness to job moves among accountants; only 28% actively rule out moving jobs in 2015, and 32% said that they will be looking to find a new role. 

According to the research, to move jobs a typical accountant would look for a salary premium equivalent to 15% of their basic package – or £10,062.

Raymond Doherty

 

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