PracticeAccounting FirmsA shred of comfort?

A shred of comfort?

Despite the trials and tribulations of recent months (Enron, September 11 and general economic gloom), one in ten accountants enjoyed a pay rise of over 10% last year. That's just one of the shocking findings of the Accountancy Age/Robert Half careers survey.

As the financial world waited for a verdict in the Enron trial this week, such generous rises may seem a little perverse. But if Enron shows anything it shows the need for proper financial policing – by internal and external accountants, business managers and regulators. Getting the right people requires the right salaries and the right salary rises to ensure organisations can retain the right talent.

That’s one way of looking at it. The other is to say that most accountants would have received their last annual rises in January this year – before the full implications of Enron. Add to that the fact that the problems and profits warnings brought about by September 11 and the economic slowdown have only bitten in 2002, and you could be forgiven for concluding that the impact on the annual professional services pay round has yet to be felt. There is probably truth in both theories. But the accountancy industry is unlikely to hand out as many double-digit percentage point pay rises over the next year.

Related Articles

Productive accountancy firms lead the way

Accounting Firms Productive accountancy firms lead the way

2d Simon Adcock, HSBC
LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

Accounting Firms LLPs in Top 50+50: Will LLPs continue to be the preferred set-up?

3d Fergus Payne, Lewis Silkin
BDO’s global revenues pass $8bn

Accounting Firms BDO’s global revenues pass $8bn

1w Alia Shoaib, Reporter
Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

Accounting Firms Top 40 International Networks, Associations and Alliances: Finding growth amid uncertainty

2w Philip Smith, Reporter
Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

Accounting Firms Top 40 International Networks, Associations and Alliances 2017: Big Four tussle for top spot

2w Emma Smith, Managing Editor
BDO reports revenue growth of 5.7%

Accounting Firms BDO reports revenue growth of 5.7%

2w Alia Shoaib, Reporter
Taylorcocks announces merger with Surrey firm

Accounting Firms Taylorcocks announces merger with Surrey firm

3w Emma Smith, Managing Editor
Kingston Smith reports 7% gender pay gap

Accounting Firms Kingston Smith reports 7% gender pay gap

3w Emma Smith, Managing Editor