ACCOUNTANCY PAY has increased by around 7% over the past year, according to the 2013 Market Report by finance and accountancy recruiter Marks Sattin.
Salaries grew 5%, with the average growing from £60,788 in 2011/12 to £64,022 in 2012/13, while the typical bonus followed suit at £11,012 – £1,409 greater than expected.
Most accountants expected a bonus of £9,603, or 15% of their salary. Instead, most bonuses came in at 17.2% salary.
The results, based on a survey of 502 accountants conducted in November 2012, showed that not only have bonuses risen, but the proportion receiving them has too, up to 47% from 45%.
Unsurprisingly, satisfaction with bonus levels rose to 70% in 2012/13 from 65% in 2011/12. The feel-good factor does not stop there either, with the percentage of accountants saying they are confident about their company’s economic prospects rising one point over the past year from 19% to 20%, while the proportion saying they are not confident has fallen to 23% from 27%.
Marks Sattins managing director Dave Way said the figures are a “huge boost” for accountancy.
He said: “[These results] offer proof of the resilience of accountancy as a profession. In tough financial circumstances, companies have a stronger focus on their purse strings.
“Obviously, accountants aren’t immune from the gloomy economic news, hence their understated bonus expectations, but the news is actually very good for them – these figures represent the third year in a row of solid, above inflation, pay growth.”
Richard Oddy, Casper Kaars Sijpesteijn and Rory Goldthorpe have been appointed to senior roles in key sectors of high growth, with a further 17 junior and experienced hires
Adrian Hyde, a partner at CVR Global, has been appointed as the new president for a year-long term, effective 21 April this year
Richard White, Nicola Westbrooke and Richard Ross all join from KPMG, where they oversaw the real estate tax practice
Sheryl Davis joins the firm's High Wycombe office from Barnes Roffe