International Accountants’ Day (10 November) is around the corner once more, giving all employers and colleagues the opportunity to show their gratitude to the accounting professionals in their midst. This year, why not stop and take a moment to appreciate yourself?
New research for the latest Robert Half Salary Guide has revealed the true worth of accounting professionals in the UK—so sit back, read through and discover how to determine your professional value.
1. Check-in with the UK-wide hiring market
According to CFOs across the UK, qualified accounting professionals are some of the hardest to find. Due to the on-going skills shortage, 40% say it’s ‘significantly challenging’ to find great professionals, with finance management, financial planning and accounting being marked out as the hardest roles to hire for. By keeping a close watch on the UK-wide hiring market, you’ll have a much better understanding of how rare or valuable your experience is.
2. Assess your digital skills
It goes without saying that an accounting professional should be great with numbers, but if you have excellent digital skill to complement, you are keeping your skillset current. The finance and accounting sector is set to be heavily affected by automation and digitisation in the future, so keeping your knowledge base in-demand with digital training will increase your professional desirability.
3. Consider a new industry
If you feel as though you’ve hit the ceiling in your current industry, you might find your value is increased by simply switching to a new one. For example, the growing legal sector in Leeds has seen a surge in demand for qualified accountants. A change of location and industry might result in a pay boost.
4. Know your salary benchmark
Every professional should know the worth of their role and the regional salary range for their experience level. Because the figures can change from year to year, using tools like the Robert Half salary calculator can really help you stay on top.
5. Look at other regions
Much like changing your industry, you may find that the value of accounting professionals can differ from location to location. In Manchester, ACAs are in hot demand due to their specific technical abilities and Swindon also has a bustling financial sector in need of new talent.
6. Know the value of your skill set
Are you ACCA, CIMA or ACA qualified? Even professionals who only hold part qualifications are extremely sought after in the accounting sector at present. Employers are also looking for accounting professionals with effective communication skills and analytical experience.
7. Talk to a tech startup
The last few years has seen a surge in fintech and tech startups, especially in the London area, and all are in dire need of qualified accounting professionals. The boom in investment and banking apps means that finance professionals with the magic mix of digital and accounting skills are very desirable.