Reed
Local sector sees modest salary growth, but falls short of national average
T e accountancy and fi nance industry has seen modest salary growth this year, with sales ledger clerks, payroll managers and assistant accountant salaries seeing the highest increases (8.8%, 7% and 6.2% respectively). However, despite some larger increases in advertised
salaries, when combined, the overall average salary increase across the sector sits at just 5%, falling short of the UK’s 6% average. The data, from recruitment company Reed, also
revealed that some roles have seen slight decreases in advertised salaries, including chief fi nancial offi cers and fi nance directors (0.2% and 0.5% respectively). Regionally, however, the findings showed that
Scotland’s accountancy sector saw advertised salaries increase by 7.7%, with the South West and North East following closely behind on 7%. East Midlands saw a salary increase of 5.9%, followed closely by the South East at 5.2%. As a region, East Anglia saw the lowest overall increase of just 4.5%.
Nathan Quail, accountancy and fi nance recruiter for
Reed across Northampton and Milton Keynes, said: “UK workers are experiencing tricky times. Even with some salaries increasing, largely, they still fall short of infl ation and the increasing cost of living. However, those working in accountancy and fi nance are in one of the better paid sectors – as often skills are in high demand.” Despite regional variances in accountancy and fi nance
remuneration, salaries in the sector are still substantially more than the UK average, with accountancy and fi nance roles paying an average of £54,300 compared to the UK equivalent of £38,900. However, a fi fth (20%) of the industry’s workers are still
unhappy with their salaries, according to Reed’s research, with 64% of those who are unhappy saying this is because their salary hasn’t risen in line with the cost of living. As part of Reed’s annual salary guides, it analysed more
than 21 million job adverts and asked 5,000 UK workers a range of questions on their salary and benefi ts – both current and expected. Nathan added: “With 86% of accountancy and fi nance
professionals open to new job opportunities, the sector needs to look at how best to incentivise and reward its workers. Our survey showed that alongside salary increases, staff would feel more valued if employers off ered additional benefi ts (30%), more recognition for their achievements (30%) and more thanks from leadership (23%).
Nathan Quail
FINANCE
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