A spike in demand for SMSF accountants hasn’t seen a comparable rise in salaries, but additional demand for services has further fuelled outsourcing of administration and documentation preparation.
Flat salary growth for SMSF accountants as outsourcing picks up
Accountants with both SMSF and tax experience will be “highly valued” in professional practice for the first half of 2018, given the spate of superannuation reforms which have prompted trustees to seek professional advice, according to the Hays Recruitment Jobs report for January to June.
However, Hays does not predict a parallel rise in salaries for SMSF accountants. Rather, firms are focusing on professional development initiatives for staff retention.
Susan Drew, senior regional director for Hays Accountancy and Finance, believes pay increases will be “base level” at best, in general terms.
As market demand for SMSF services lifts and firms aim for scalability, outsourcing will continue its growth trajectory in 2018, Ms Drew said.
Hays is finding the set-up of funds is being increasingly offshored, which includes documentation, as well as administration.
“They are reviewed by someone on the ground in Australia, and then they are rolled out,” Ms Drew said.