Accountants' salaries on the up in 2013

Good news is on the horizon for accountants and finance professionals' pay packets next year, according to recruitment consultancy Robert Half. 

The firm's Salary Guide 2013 shows accountants and finance workers will see an increase in pay and demand for their profession, despite stagnation in other careers. 

Auto-enrolment, a move toward global financial reporting and a demand for IFRS specialists for 2015 will see a rise in demand for finance staff, they said. 

According to analysis data from the Office for National Statistics by Ranstad Financial and Professional, accountants have already seen their pay rise by 7.5% since 2006. 

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Comments

Payrise    2 thanks

jeremy28 | | Permalink

Have sent link to my boss.

Can keep on hoping!

Shock news    4 thanks

Cloudcounter | | Permalink

Recruitment agency claims that salaries are rising shock.

Male cow produces excrement non shock

It's more money for somebody, anyway    2 thanks

GSPANESER | | Permalink

Cloudcounter wrote:

Recruitment agency claims that salaries are rising shock.

Male cow produces excrement non shock

 

It certainly adds weight to their argument for increasing their fees.

Well, with all the hard work that they do in vetting candidates and recruiters we all know they're worth it.

Money for old rope, anyone?

Sigh

philh74a | | Permalink

I can only wish

Bob Harper's picture

Loss

Bob Harper | | Permalink

Just thinking about financial returns, assuming a sole trader (working from home or a small office) puts in the same number of hours as a partner in practice, is it reasonable to say that if they are making less than £108,000 a year they are making a net loss after allowing for a notional salary for themselves?

Even if a sole-trader works 25% less time they will need to make £81,000 to break-even.

Bob Harper

Crunchers Accountants

I would say

justsotax | | Permalink

not Bob....you employ people to make you more profit....so by employing someone to say prepare the accounts, automatically you as the owner should (in theory) see your profit increase by the difference between what that person is issuing in fees and their salary.  

Bob Harper's picture

Opportunity costs

Bob Harper | | Permalink

@JustSoTax - a sole-trader could employ people working from home or a small office.

It's the opportunity cost I am focussing on and working out what is a reasonable notional salary for sole-traders use for their time to work out their "real profit".

Perhaps if the sole-trader would need to pay £75,000 to get someone to do everything they do.

What do you think?

Bob

and if they are

justsotax | | Permalink

employing people then maybe £108k is not so unrealistic....?  For me you only employ people in order to make more profit....if they are working on say £100k of fees then their salary would reflect that fact, but also that they have not associated risks...so they may get £40-50k, so together with other overheads you may perhaps clear £20-30k.....

7.5% in six years equates to

Martyn4280 | | Permalink

7.5% in six years equates to 1.25% p/a. I will believe 3% rise in 2013 when it happens. As I type I can see a flying pig passing the window!

Nick Graves's picture

Fiat money

Nick Graves | | Permalink

...means the true rate of inflation is probably somewhere between 5-7% pa.

Increase yeah, right...

BTW - £108K is quoted as 'best paid' - given the stress that employees can cause, it'd need to be better than that!