PracticePeople In PracticeAccountancy bonus pot increases to £2.4bn for 2015/16

Accountancy bonus pot increases to £2.4bn for 2015/16

The overall bonus pot has increased by £800m since 2009/10 when it stood at £1.6bn

ACCOUNTANTS in the UK benefited from a record £2.4bn bonus pot in 2015/2016, an increase of £200m on 2014/2015, according to recruiter Marks Sattin.

The overall bonus pot has increased by £800m since 2009/10 when it stood at £1.6bn.

For the 2015/16 financial year the average individual bonus for accountants was 20% of basic salary – the equivalent of £13,000. This is up from £10,730 (16% of basic salary) in 2014/2015, representing an increase of 21% in monetary terms. This is also the highest individual bonus figure recorded since 2011/12.

Remuneration packages are increasingly focused on the bonus element, which now makes up a greater proportion of professionals’ remuneration packages. The average accountant’s basic salary has fallen slightly on an annual basis from £67,080 last year to £65,010, a decrease of £2,070 (3%). However total earnings (basic salary and bonus combined) are still on the up, increasing to £78,010 this year from last year when the average was £77,820.

Matthew Wilcox, managing director of Marks Sattin, said: “Macroeconomic factors including the upcoming EU referendum mean that 2016 so far has been an uncertain time for business and the outlook beyond the 23rd June remains a major question mark. However, one thing is clear – employers in the accountancy sector are unwilling to risk their top talent at a time when major changes to global economic conditions are likely.

“The bonus pot has continued to grow in size since the dark days of the recession and employers are eager to ensure their key employees continue to feel valued and don’t see this strong upward trend in remuneration slip. In general we have found that strong employees have been consistently recognised and rewarded by their current employers over the past year, with highly competitive salaries, more varied roles and more frequent and higher bonus payments.”

 

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