Accountant salary survey paints positive picture despite uncertainty

The CA’s 2016/17 Salary and Careers Survey, based on a record response from ICAS members, revealed that despite all the upheavals of 2016, the impact on pay appears to be marginal.

The percentage reporting that they have received an above-inflation pay rise in the current year is marginally down (36 per cent compared with 39 per cent last year).

Expectations are also very slightly down (25 per cent expect an above inflation rise next year, compared with 28 per cent in last year’s survey).

London is still the best place in the UK for CAs to work in terms of salary.

Average compensation in the London and south-east England area is £128,905. The average for the rest of England is £73,325 and £80,145 for members working in Scotland.

In terms of international salaries, the Middle East and Africa tops the list with average earnings of CAs calculated at £228,389 followed closely by Asia which offers £215,821.

By job title, partners working at a Big Four firm are taking home the biggest pay slip with an average salary of £482,500, while non-Big Four partners receive £142,060. CAs who are chief executives and managing directors in the industry and commerce sectors earn an average salary of £242,268.

Although the survey mainly focused on members’ earnings it also asked CAs how satisfied they were in their current role. The answers were positive across the board with the majority of CAs saying they had a good work life balance.

Members working in the third sector were the happiest of all with 43 per cent saying they have a good work life balance and 29 per cent saying it is very good.

Members’ overall satisfaction with their job and the compensation they receive may be reason that 83 per cent of them have not asked for a pay rise in the last 12 months.

This year, we asked about aspirations to work abroad with either a career move or a secondment.

The appetite for this among newly qualified CAs (0-2 years post-qualifying) is strong, with 34 per cent saying that they would be interested in a move to continental Europe and 43 per cent thinking about a move further afield.

It is an intriguing set of responses given the fact that freedom of movement has become a somewhat fraught political issue.

Anton Colella, Chief Executive of ICAS, said: “The results of our survey indicate that despite the challenging economic conditions businesses are operating under, this hasn’t had a knock-on effect for the profession. However, the real test of the resilience of the economy will come through in the next 12 months.”