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Trainee accountants dissatisfied with remuneration packages.

Ref. PR-00715

  • Over half of all part-qualified accountants in the UK and Ireland are dissatisfied with their current salary and benefits package
  • Male trainees earn more than £3,000 compared to their female counterparts

According to research released by specialist recruitment agency Robert Half Finance and Accounting in partnership with PASS magazine, more than half (58 per cent) of all part-qualified accountants are unhappy with their current salary and benefits package. Assistant accountants (74 per cent) and trainee accountants (71 per cent) are the most dissatisfied of all surveyed.

The survey of over 500 part-qualified accountants in the UK and Ireland reveal that on average the highest salaries are offered in Ireland (£33,830), London (£33,120), South Coast (£31,060), Thames Valley (£30, 350) and Scotland (£29,690). The survey also indicates that trainees in the Home Counties (78 per cent), South Coast (67 per cent) and Thames Valley (65 per cent) are the least satisfied with their remuneration packages despite the latter two being in the top five highest paid regions.

The most popular benefits currently offered to trainees are pension (71 per cent), healthcare (34 per cent), bonus (33 per cent), life assurance (25 per cent) and leisure facilities (12 per cent). These benefits are in line with those that trainees stated they most wanted to receive: bonus (29 per cent), pension (27 per cent), flexible hours (16 per cent) and extra holidays (12 per cent).

Phil Sheridan, UK Managing Director, Robert Half Finance & Accounting commented:

'Employees are now looking to achieve a greater work/life balance as indicated by their desire for alternative benefits such as flexible hours and flexi-time. Whilst traditional benefits such as pensions and bonuses remain popular, employers need to engage with trainees and closely assess what they are offering employees to ensure they attract and retain the most suitable candidates for the job.'

The survey also reveals that female trainees are less likely to earn in the higher salary bracket as do their male counterparts. On average, male trainees earn £3,050 more than females. 66 per cent of female trainees earn less than £30,000 as compared to 49 per cent of men. The gender pay divide is further highlighted in the higher salary ranges as there is a difference of more than 10 per cent between men earning over £37,000 to women (25 per cent versus 16 per cent respectively).

Almost three-quarters (72 per cent) of all trainees stated that a pay rise would stop them from leaving their existing job. Career progression opportunities (56 per cent), bonus for passing exams (40 per cent), paid revision leave (25 per cent) and opportunities to work abroad (24 per cent) are other reasons trainees choose to remain with their current employer.

Three-quarters (75 per cent) of all trainees surveyed claimed that they will leave their current job for better prospects elsewhere. Limited job satisfaction (68 per cent) is another reason part-qualifieds will leave their current place of employment. Workers are also unwilling to give up their personal time for work- related duties as working on weekends (68 per cent), a long commute from work (38 per cent) and longer working hours (37 per cent) were other reasons cited for leaving their current job.

Though trainees are loyal to their careers, loyalty to their company is not rated as highly. 42 per cent of trainees do not feel obligated to remain loyal to their company even though their training is paid for by their employer. Workers in Ireland (67 per cent), Midlands (52 per cent) and London (50 per cent) top the list of those who do not feel obliged to stay at their current company.

For more information, click on the link below.

Contact Us

For further information please contact:

Michelle Whitman
Robert Half International
Tel : 020 7331 2222
Email : michelle.whitman@rhi.net