Accountants are satisfied with their salaries

Most Chartered Accountants in the UK are satisfied with what they earn, an annual salary survey has revealed.

This is welcome news for those seeking jobs in accountancy. Especially since it comes at a time when nearly 50% of firms are freezing basic pay and 65% are reducing or scrapping bonuses.

Of the 1,500 members and students of the Institute of Chartered Accountants of Scotland
(ICAS) polled by CA Magazine, around 58% are satisfied and 11% very satisfied with their current pay.

Commenting on the findings, ICAS chief executive, Anton Colella, told Accountancy Age:

“The survey suggests that CAs appear to recognise and accept that their organisations have had to make difficult choices in the current economic circumstances. This should hopefully contribute to a sense of stability within their businesses.”

In a separate study by PricewaterhouseCoopers, however, the firm found that employment decisions made during a downturn could deter top talent.

Jon Terry, partner and head of reward, PwC said:

“Pay and promotion freezes, changes to pension schemes, cuts in recruitment and slashed training budgets, combined with poor communication, have eroded the bonds of trust between some employers and their employees."

"Those who continued to offer their employees new opportunities and invested in their people pipeline are now at a competitive advantage," he added.