PracticeAccounting FirmsAround 70% of accountants expect annual pay rise

Around 70% of accountants expect annual pay rise

Nearly two thirds are looking to change jobs in the next six months, survey finds

SEVEN IN EVERY TEN accountants expect a pay rise in their annual appraisals, according to a survey of more than 400 accountants by recruitment agency Robert Walters.

In addition, more than 40% of accountants are anticipating a bonus of up to 15% of base salary and 64% are looking to change jobs in the next 12 months; over a third in the next three months.

Pay rise expectations, though, are modest, with nearly half hoping to receive a rise of no more than 1% to 6%.

The survey also predicts a high level of activity in accounting and finance recruitment in 2014. Nearly two thirds are looking to leave their current role in the year ahead, and around half in the opening six months of the year.

Career progression was cited as the most common reason for leaving a job.

Robert Walters director of accountancy recruitment Andrew Setchell said: “While the recession did little to stem the need – and therefore demand – for accountants, pay rises remained out of reach for many as employers sought to consolidate costs and weather the storm.

“However, a revival in optimism around the economy has prompted many finance professionals to believe that a salary increase is now justified. Bonus expectations have also swelled as accountants look for greater affirmation of their value to the business.

“That said, our survey indicates that the lure of more money and a bigger bonus is not always the most attractive. For many, the opportunity of a new challenge is a more compelling reason to move, a statistic that shrewd managers will be aware of when looking to retain top staff.”

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