Accountants’ wage packets are growing at a higher rate than the pay of managers in other areas of business, especially among the lower ranks of management, a survey by wage consultants at The Reward Group has found.
The Management Salary Survey, which covers non-director management levels of 1,000 employers with a total of over one million staff throughout the UK, showed that pay settlements increased by an average of 3.4% last year, but accountants’ pay rose by 4.4%.
Broken down by rank, accountants in senior management positions earn #38,000 on average, a 3.2% increase on their salary of a year ago.
Middle managers earn around #25,000, up 4.5% on last year, and supervisor-level accountancy staff enjoyed a wage rise of 6.2%, more than twice the survey’s national average. Average earnings for this level were #15,000.
The survey also found that while high-ranking accountants were just as likely to have company cars as non-accountants of similar rank, only 0.4% of supervisor level accountants had company cars, compared to 9.8% of supervisors in other fields.
Robert Half International’s salary survey, reported two weeks ago in Accountancy Age, found qualified accountants cashing in 10% pay increases if they switched employers, or 3.6% if they stayed put.
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