No pay rise in last year for quarter of accountants

by Rachael Singh

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07 Mar 2014

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ICAS building

MORE THAN a quarter of chartered accountants saw no increase in their basic pay in the last 12 months, according to ICAS.

More than half said they believed their pay had not kept pace with the cost of living in the last year. Four in ten agreeing with this sentiment over the last five years, a survey of more than 1,500 CAs in Scotland, England and Wales found.

However, 65% said they were "satisfied" with their pay and just 9% said they were actively seeking a new role. But, 40% said if the right opportunity came up they would pursue it.

Ian Wilkinson, director at recruitment consultants Wilkinson & Associates, the recruitment company for ICAS, said: "The jobs market for accountants is presenting a mixed but improving picture, and a sustained recovery is far from certain, but there are signs now that employers are realising they have to take the right steps to attract and retain staff."

The median salary for a financial controller was £41k-50k (in a small business) up to £71k-80k in a publicly listed company, and £61k-70k in the public sector. Meanwhile, for a financial director the median salary was £101k-150k (in a business with fewer than 50 employees) up to £201k-299k (in a plc).

Of those surveyed, more than half said they worked more than 54 hours a week.

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