Leinster Society launches 2019 Salary Survey

Jul 05, 2019

The Leinster Society Salary Survey launched today in partnership with Barden with positive results. The survey shows strong demand for Chartered Accountants, with growing earnings potential and considerable career opportunities.

Chairman Brian Murphy says “Aside from benchmarking salaries, the survey reflects the many non-monetary benefits enjoyed by our members, with work-life balance and flexible working a priority for most.

It also gives employer firms, recruiters and those considering a career in Chartered Accountancy a reliable insight into all the components that make the profession a rewarding career choice. Chartered Accountancy remains the largest single employer of new graduates in Ireland, and Chartered Accountants Ireland offers a range of flexible entry-routes into the profession, so students can work and learn in a way that best meets their individual needs.”

Speaking on the results at the event Elaine Brady, Managing Partner, Barden said “As experts in our field, it is absolutely critical for us to be able to provide our clients with cutting edge insights like this survey on reward so that they can make informed strategic decisions on talent attraction and, more importantly in this ‘War for Talent’, talent retention”. Acknowledging the strong salary results Elaine focused her analysis on the non-monetary motivators or ‘intrinsic rewards’. Intrinsic reward is a substantially more complex concept than pure monetary reward,  it’s essentially everything you can’t put a monetary value on. “This year for the first time ever, our results have found that ‘work life balance’ is now as important for people as the salary they will secure with 81% of people saying it’s as important a factor in considering an external move as their pay packet (82%). To illustrate this 52% of members would sacrifice 10% of their remuneration for better work life balance or more flexible working arrangements or a massive 86% would sacrifice between 5 and 10% for it. Yet, we know from this research that almost 40% of people have no access to work from home or a flexible benefits policy.  There is a big opportunity for business leaders to retain and attract talent through intrinsic reward approaches.

Key Findings of the survey include :

Salary

  • The average salary package (including base salary, car or car allowance, plus bonus) for a Chartered Accountant in Leinster is €112,582, up almost €3,500 from last year’s average salary package of €109,146.
  • The average salary package for a newly qualified Chartered Accountant (first year post-qualification) stands at €60,902. (2018: €61,044);
  • For those who are five years qualified the average salary package rises to €74,340, on a par with last year.

Promotion/Career impacts

  • 50% of respondents have been promoted in the last three years. (2018: 46%)
  • 22% reported moving to a new job in the last 12 months. (2018: 25%)

Additional benefits

  • 50% of those survey said they are enrolled in a workplace health insurance scheme and more than 4 in 5 are enrolled in a pension scheme (81%).
  • Almost two-thirds (62%) also receive support towards ongoing personal development, while the average annual leave is 25 days.
  • When asked about other non-monetary benefits, 62% said they have the ability to work from home, more than half (56%) enjoy flexible working arrangements, over a third (35%) have access to a subsidised restaurant or canteen, 32% have further study opportunities and one in four (24%) avail of gym membership or on-site gym facilities.  

Other observations

  • 61% of Chartered Accountants said they believe automation will have a positive impact on their career, and 47% believe artificial intelligence will have a positive impact. Cyber security was cited as the biggest cause for concern among new technology developments.
  • 86% place a strong value on work life balance and flexible working arrangements.
  • Almost half (49%) said they have a commute of 30 minutes or less to work, with the average daily commute to and from work clocking in at under 40 minutes.
Link to full report >>>