BusinessPeople In BusinessChristmas cracker as bonus pool reaches £1.3bn

Christmas cracker as bonus pool reaches £1.3bn

Research reveals that bonuses this year for private sector accountants could be higher than expected

THE BONUS pool for UK private sector accountants could reach as high £1.3bn, according to research from a recruitment company.

The recruiters also believe accountants are in for a bigger Christmas treat with individual bonuses reaching higher levels than expected.

The report from Ambition says that bonuses this year will reach 10.8% of base salary on average, compared to 8.7% last year.

With an average salary standing of around £42,000 an accountant could expect an extra £800 in his bonus pot of £4,536.

Tim Gilbert, MD of Ambition, said: “Accountants are often the unsung heroes of recessions as they keep a keen eye on the bottom line and help steer companies out of trouble.

“It’s encouraging to see finance staff getting the rewards they deserve and businesses recognising the effort and contribution that these departments make.”

The research is based on a poll of accountants in 500 UK business. They also revealed they expect salary rises in 2011 of around 5% – two percentage points higher than inflation.

Gilbert added: “There maybe some disappointment from finance teams about the level of salaries next year but it’s important to remember that many staff will have had their pay frozen over the last two years.

“It’s understandable that staff now want to get their pay back in line but the fact that businesses will be paying higher bonuses than expected will go some way to appeasing any disappointment.” 

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