Accountants' salary increases predicted to be minor

Accountants' salary increases predicted to be minor

Salary increase

The majority of organisations have indicated that they plan to give their accounting staff a pay rise of up to 3 per cent in their next review, according to a recruitment firm.

Yesterday Hays released its annual Salary Guide, revealing that accountancy and finance staff can expect only sedate pay rises in their next review, if at all.

Sixty-five per cent of employers indicated they plan to give their accountancy and finance staff a salary increase of up to 3 per cent, while 19 per cent will give them a pay rise of between 3 and 6 per cent.

Interestingly 11 per cent indicated they don’t plan on raising their accountancy and finance staff salaries at all.

Hays accountancy and finance regional director David Cawley said that the report reveals employers have a positive outlook yet remain cautious when it comes to salaries.

However, Mr Cawley believes that the accountancy job market has remained strong since the resurgence witnessed back in early 2015.

“Naturally, localised conditions in individual states dictate the individual rate of demand, however, overall we’re seeing consistent levels of permanent appointments with a rise in temporary and contract roles,” he said.

“In the permanent market, accountancy professionals with in-demand skills are benefiting from counter offers, salary increases and interesting opportunities. Public sector bodies continue to engage private sector candidates, welcoming their diverse outlook and experience.”

Talent shortages are more severe than ever in professional practice according to Mr Cawley, and firms continue to offer competitive salaries to help attract proven candidates.

“We continue to see strong demand in most accounting support areas, and higher salaries for candidates with specific system or sector experience,” he said.

Accountants' salary increases predicted to be minor
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