No grumbling from accountants over pay freezes

Most CAs remain satisfied with their salaries even though pay has been frozen and bonuses have decreased, according to CA Magazine’s annual salary survey.

Of the 1500 members and students of the Institute of Chartered Accountants of Scotland (ICAS) questioned, 58% are satisfied and 11% very satisfied with their current pay. This comes during a cold economic climate where half of firms are freezing basic pay, and 65% are freezing, reducing or scrapping bonuses.

The number of CAs working longer and harder also decreased 5% since 2008, although the proportion working 55 hours or more has remained steady at about 10%.

Commenting on the findings, ICAS chief executive, Anton Colella, said, “The survey suggests that CAs appear to recognise and accept that their organisations have had to make difficult choices in the current economic circumstances. This should hopefully contribute to a sense of stability within their businesses at a time when it is most needed.”

Further reading:

PwC issues warning over pay freezes