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ACCOUNTANCY CANDIDATES RAISE THE SALARY STAKES IN THE UK |
| Source: | justaccountancyjobs.com | | Country: | UK | | Date: | 15/11/2007 | | Contributor: | Andy Lymer | | Web: | http://www.justaccountancyjobs.com |
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Uk part-qualified graduate accountants are commanding much higher salaries than they expect, with nearly a third earning £22,000 to £24,000 in their first job. This compares with almost nine in ten who said they expected to be offered less than £22,000, according to a new survey by justaccountancyjobs.com.
Many are being paid more even than they think they’re worth, with 60% receiving offers of at least £20,000 – the average figure cited as a fair entry-level salary. Starting salaries for part-qualified graduates typically range £15,000-£20,000 for candidates in the North, and £18,000-£23,000 in the South, the survey showed.
Part-qualified accountants also have a strong hand on the negotiating table, with 61% of respondents able to raise their original offer, compared with 35% who were not.
Newly qualified accountants proved even better negotiators, with 67% able to hammer out a more lucrative deal, compared with 29% who were not.
Their concept of a fair salary was also much more ambitious, with most newly qualified respondents citing £40,000 as a reasonable starting salary – and 44% of them receiving final offers of £35,000-£40,000 while 20% achieved £40,000 or above.
More newly qualified candidates – 7% and 4% – were able to achieve offers of £45,000-£50,000 and over £50,000 respectively than the 5% and 2% who were expecting these salary bands.
The trend was similar with part-qualified candidates, with 32% able to command salaries of £22,000-£24,000, compared with just 13% who expected this range. Two percent also ended up with salary offers of more than £24,000, although none predicted this. Only 15% received final offers of less than £18,000, compared with the 33% who expected to.
“The best accountancy candidates are in hot demand and many have more negotiating power than they think,” said Richard Perrott, chief consultant for justaccountancyjobs.com.
“Part- and newly qualified accountants with the right skill sets are capable of commanding much better packages than they realise, proving once again that there’s no better time to be in the job market.”
This survey was sent to justaccountancyjos.com members throughout October. A total 106 part-qualified graduate accountants and 73 newly qualified accountants responded.
Justaccountancyjobs.com is an interactive jobs board that helps candidates and agencies or employers find each other. It is free for candidates to upload their CV, which agencies can search through by sector, qualification or salary requirements, putting the right resume at the top of the pile every time.
Detailed Survey findings
Part-qualified accountants
1. What starting salary do/did you expect to command as a part-qualified accountant?
Under £16k – 12%
£16k-£18k – 21%
£18k-£20k – 26%
£20k-£22k – 28%
£22k-£24k – 13%
Over £24k - none
Within this, entry-level salaries for part-qualified candidates ranged £15k-£20k in the North, and £18k-£23k in the South.
2. What is the average salary offer you received/have received so far?
Under £16k – 5%
£16k-£18k – 10%
£18k-£20k – 25%
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£20k-£22k – 26%
£22k-£24k - 32%
Over £24k – 2%
3. Were you able to negotiate a better package?
Yes – 61%
No – 35%
Not stated – 4%
4. What do you think is a fair starting salary for a part-qualified accountant?
Average answer was £20,000
5. Which sector of accountancy were you applying to work in?
Commerce – 59%
Banking and finance – 22%
Practice – 12%
Telecommunications – 4%
Not stated – 3%
6. Where are you based?
Greater London – 21%
South-east – 19%
South-west – 7%
Midlands – 12%
North – 11%
North-east – 8%
North-west – 17%
Scotland – 3%
Wales – 2%
Newly qualified accountants
1. What salary do/did you expect to command in your first job as a newly qualified accountant?
Under £25k – 4%
£25k-£30k – 7%
£30k-£35k – 30%
£35k-£40k – 36%
£40k-£45k – 16%
£45k-£50k – 5%
Over £50k – 2%
2. What is the average salary offer you received/have received so far?
Under £25k – 3%
£25k-£30k – 8%
£30k-£35k – 25%
£35k-£40k – 44%
£40k-£45k – 9%
£45k-£50k – 7%
Over £50k – 4%
3. Were you able to negotiate a better package?
Yes – 67%
No – 29%
Not stated – 4%
4. What do you think is a fair starting salary for a newly qualified accountant?
Average answer £40,000
5. Which sector of accountancy do you work in?
Commerce – 62%
Practice – 17%
Banking and finance – 16%
Not stated – 5%
6. Where are you based?
Greater London – 26%
South-east – 19%
South-west – 5%
Midlands – 10%
North – 10%
North-east – 7%
North-west – 18%
Scotland – 4%
Wales – 1%
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