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The Robert Half 2015 Salary Guide contains starting salaries for accountancy and finance professionals throughout the UK and is the definitive resource for the most up-to-date salary information and hiring trends. It also contains:
- Key trends affecting financial hiring
- Skills and attributes in demand
- Permanent, temporary and interim hiring trends
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Accounting and finance recruitment is returning to pre-recessionary levels , with firms expanding existing teams as well as investing in new initiatives. With a focus on growth, confidence among finance leaders is high, with 88% UK CFOs confident in their companies’ prospects.
Demand for skilled accounting and finance staff has intensified. Most finance directors indicate that competition for skilled finance professionals has increased.
Employee retention remains a priority, and 90% of finance directors are concerned about losing top performers. Firms are stepping up efforts to provide career development opportunities as well as reviewing salary schemes to avoid losing valued staff.
Skills in Demand
Most businesses are prioritising hiring qualified accountants (ACA, ACCA, CIMA). Reduced graduate recruitment during the downturn has resulted in a shortage of newly qualified ACAs, and firms are raising salaries to attract this talent.
Part-qualified accountants are in short supply because many are choosing to stay with their current employer, especially if the company is providing an education and/or annual leave study allowance. Companies that carefully manage their succession planning and remuneration strategies are best equipped to retain these sought-after professionals.
Positions in Demand
- Financial/business analysts
- Management accountants
- Commercial/finance business partners
- Finance managers, finance controllers
- Newly qualified accountants
- Systems and transformation finance experts
- Business/management information specialists
- Financial planning and analysis professionals
- Accounts assistants, credit controllers, purchase ledger clerks
Businesses are divided on remuneration strategies. Many recognise that increased salaries are required to attract and retain talent while others are slower to react to changing market conditions and the resulting talent shortage. Average salary increase is 7%.
According to UK CFOs, 51% plan to increase finance team salaries by an average of 7% and 35% will be increasing bonuses.
Many large firms continue to rely on their brands, leaving SMEs to procure top talent by providing attractive benefits and working environments as well as the exposure to a wide array of tasks.
Bonus schemes are becoming more widely available with more non-managerial employees having access to company and personal performance bonuses. Many companies are offering retention bonuses to try to secure temporary and interim professionals through the course of a project.
London accounting salaries pay on average a third higher than the national average.
|North East England||90.0%|
|North West England||92.9%|
|East of England||97.9%|
|South East England||106.0%|
|South West England||92.3%|
Local Salary Information
Check out our slide presentations covering local salary and hiring trends for accounting and finance jobs. These quick slideshows cover London salaries plus hiring trends and salary information for Bristol, Birmingham, Edinburgh, Leeds and Manchester.
If you're looking to compare salaries in the UK or benchmark salaries for your finance team, take a look at our regional salary trends slideshows now.