RegulationAccounting StandardsNo grumbling from accountants over pay freezes

No grumbling from accountants over pay freezes

Three quarters of ICAS members and students are still happy with their pay despite no pay rise and lower bonuses

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

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