Report shows Chartered Accountants in high demand, average earnings over €100K

Jun 28, 2017

The Salary Survey press release issued on Wed June 28, below.

Annual Salary Survey shows accountants in Leinster earning €106k average, newly qualified earning €56k-€58k

NEWS BODY - Chartered-Accountants in high demand min

Louise O'Leary, The Panel search and selection with Oliver Holt, Leinster Society Chairman

The average salary package (base salary + car or car allowance + bonus) for a Chartered Accountant in Leinster is over €100,000 for the fifth year in a row, according to new research published today. The 2017 average salary package is €106,500, at similar levels to 2016 and reflects significant demand for Chartered Accountants at all levels.

The survey of more than 1,700 Chartered Accountants was carried out by Chartered Accountants Leinster Society in association with The Panel search and selection consultancy. The research reveals that eight out of ten Chartered Accountants have seen their salary increase by at least 10% over the last three years.

The average salary package for a Chartered Accountant working in industry in their first year post-qualification now stands at €56,800. Those in their first year post-qualification in financial services are earning slightly more with an average package of €58,800.

The survey also indicates a healthy level of career progression within the Chartered Accountancy profession, with 45% of those surveyed having been promoted in the last three years. This is up from 41% for the same period in 2016.

Chartered Accountants also reported feeling confident about their employment prospects, with 89% finding the jobs market positive. 23% of them reported moving to a new job in the last 12 months.  

The salary survey also shows that most Chartered Accountants in Leinster currently work in industry, business and financial services, with 68% working in these sectors all together, while 21% work in an accountancy practice and 11% are in public service.

The survey also points to the other benefits enjoyed by Chartered Accountants. 24% of respondents either have a company car (5%) or receive a car allowance (19%).  19% of respondents receive share options.  

Commenting on the results of the salary survey, Oliver Holt, Chairman of Chartered Accountants Leinster Society said: “The 2017 Leinster Society salary survey shows a profession much in demand, with considerable career opportunities, whether in financial services, public practice or industry.

“I would like to thank the 1,700 Leinster Society members for contributing to one of the most detailed and representative of such studies in Ireland.

“As well as benchmarking salaries, satisfaction, career progression and non-monetary compensation were also measured, making it valuable not just for members and employers, but also for those contemplating a career as an accountant.

Chartered Accountancy remains the largest single employer of new graduates in Ireland. “For these potential Chartered Accountancy students, we are seeing more training vacancies available in businesses and practices across Ireland for graduates of all backgrounds, and the Institute is championing more flexible entry-routes into the profession for talented people. The survey demonstrates why Chartered Accountancy remains the leading accountancy qualification in Ireland due to its attractive rewards, international opportunities, and rapid career progression.”

Paul McArdle, Managing Partner of The Panel, who assisted in analysing the survey results said: “The survey points to a buoyant jobs market where there is real competition for talent. Almost 80% of our survey respondents have seen their salary increase by more than 10% in the last three years. Employers are clearly keen to retain that talent and the survey points to an appetite for greater work/life flexibility as a key priority for these highly skilled finance professionals. It also demonstrates the importance of Chartered Accountants in the current climate and the range of roles they hold.”

Key Findings:

  • Average Salary Package (base salary + car or car allowance + bonus) for a Chartered Accountant in Leinster is €106,544. (Salaries were surveyed as at 31 January 2017)
  • The Average Salary Package for a Chartered Accountant in their first year post-qualification taking a position in industry stands at €56,800. The Average Salary Package for a Chartered Accountant in their first year post-qualification taking a position in financial services is €58,800.
  • 79% of respondents have seen their salary increase by at least 10% over the last three years.
  • The salary survey also shows that most Chartered Accountants in Leinster currently work in industry, business and financial services, with 68% working in these sectors, while 21% work in an accountancy practice and 11% are in public service.
  • 45% of respondents have been promoted in the last three years (2016: 41%).
  • Members are more confident than ever with 89% finding the jobs market positive.
  • 23% reported moving to a new job in the last 12 months.
  • “How was your bonus calculated?” 1,164 members responded to this question with personal performance being a criteria for 70% of respondents; company performance was a criteria for a similar percentage with one in five respondents citing team performance as a criteria.
  • “What value do you place on work / life balance and flexible working arrangements?”  82% of respondents said that they would sacrifice 5% of their salary for a better work / life balance (45% said they would give up 10% of their salaries, such was the importance of flexibility to them).

Ends

Note to Editors:

Chartered Accountants Leinster Society is a district society of Chartered Accountants Ireland, representing 12,500 Chartered Accountants throughout Leinster. Chartered Accountants Ireland is the largest, longest established and fastest growing professional accountancy body in Ireland with over 25,500 members in 93 countries around the globe.  

Average salary package is the total of the basic salary plus bonus and car allowance or car (valued at €12,000 for the purpose of the survey)

The survey was conducted by the Leinster Society from 1 to 12 June 2017.

Reference:  Bryan Rankin, Marketing Manager, Chartered Accountants Ireland

T: (01) 637 7268 / bryan.rankin@charteredaccountants.ie