Report shows Chartered Accountants in high demand, average earnings almost €110K

Jul 05, 2018

Chartered Accountants Leinster Society Survey shows newly qualified Chartered Accountants in industry earning over €61k

5 July 2018

The average salary package (including base salary, car or car allowance, plus bonus) for a Chartered Accountant in Leinster is €109,146, reflecting the significant demand for Chartered Accountants at all levels in the local market.

The survey of more than 1,100 Chartered Accountants, published today by Chartered Accountants Leinster Society in association with Barden, provides a definitive guide to Chartered Accountant salaries in Leinster. The research reveals that 83% of Chartered Accountants have received a significant salary increase within the last three years, with more than half obtaining an increase of over 10%.

The average salary package for a Chartered Accountant working in industry in their first year post-qualification now stands at €61,044. The average salary package for those working in industry who are now five years qualified is €74,706.

The survey also indicates a healthy level of career progression within the Chartered Accountancy profession, with 46% of those surveyed having been promoted in the last three years, a similar figure to the same period in 2017 (45%).

The survey finds that most Chartered Accountants in Leinster work in business (69%), with 18% working in an accountancy practice and 13% working in not-for profit, public service or in government. 25% of those surveyed reported moving to a new job in the last 12 months.  

The survey also points to the other benefits enjoyed by Chartered Accountants. 23% of respondents either have a company car or receive a car allowance.  18% of respondents receive share options. Almost half are enrolled in a workplace health insurance scheme (48%).

To find out more about becoming a Chartered Accountant, visit

www.charteredaccountants.ie/study

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Key Findings:

  • Average salary package (base salary, car or car allowance, plus bonus) for a Chartered Accountant in Leinster is €109,146. (2017 figure: €106,500)
  • The Average Salary Package for a Chartered Accountant in their first year post-qualification taking a position in industry stands at €61,044. (2017: €56,800)
  • 83% of Chartered Accountants have received a significant salary increase within the last three years, with more than 50% obtaining an increase of over 10%. (2017: 79% said their salary had increased by at least 10% in last three years)
  • Most Chartered Accountants in Leinster work in industry, business and financial services (69%), with 18% working in an accountancy practice and 13% working in not-for profit, public service or in government.
  • 46% of respondents have been promoted in the last three years (2017: 45%).
  • 25% reported moving to a new job in the last 12 months. (2017: 23%)
  • “How was your bonus calculated?” 1,121 members responded to this question with personal performance being a criterion for 55% of respondents; company performance was a criterion for a 54%, with 16% of respondents citing team performance as a criterion.
  • “What value do you place on work / life balance and flexible working arrangements?”  84% place a strong value on better work life balance and flexible working. (50% said they would give up 10% of their salary, such was the importance of flexibility to them).


Commenting on the results of the salary survey, Lorna Larkin, Chairman of Chartered Accountants Leinster Society said:
 “The 2018 Leinster Society salary survey shows a continued strong demand for Chartered Accountants, with growing earning potential and considerable career opportunities in many different areas including business, public practice, government and the voluntary sector.

“As well as benchmarking salaries, the survey is tracking career satisfaction, progression and non-monetary compensation, making it a valuable insight for our members and for employers. It also gives a great snapshot of the profession to those who are considering a career in Chartered Accountancy.

“Chartered Accountancy remains the largest single employer of new graduates in Ireland so it’s good news for the wider economy and for graduate prospects that the market for Chartered Accountants remains buoyant.

We are seeing more training vacancies available in businesses and practices across Ireland for graduates of all backgrounds, and Chartered Accountants Ireland offers flexible entry-routes into the profession. These results show why Chartered Accountancy remains the leading accountancy qualification in Ireland with attractive rewards, international opportunities, and rapid career progression.”


Elaine Brady, Managing Partner of Barden, who assisted in analysing the survey results said: 
“A significant sample of over 1,100 Chartered Accountants makes this definitive guide to Chartered Accountant salaries in Leinster. It provides some real insights to the rewards, the spread of employment opportunities and career progression offered by a career in Chartered Accountancy.

“The survey suggests a flourishing employment market with plenty of opportunity for qualified Chartered Accountants and real competition for talent. There has been some strong growth in salaries for Chartered Accountants, with 4 out of 5 receiving a significant pay rise in the last three years.

“As well as salary levels, we are seeing that having a range of benefits and a sensible work/life balance are important to finance professionals when considering their role.”


Ends

Note to Editors:

Chartered Accountants Leinster Society is a district society of Chartered Accountants Ireland, representing over 13,000 Chartered Accountants throughout Leinster.

Chartered Accountants Ireland is the largest, longest established and fastest growing professional accountancy body in Ireland with over 26,500 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 Chartered Accountants Leinster Society from 1 to 22 June 2018.

Reference:  Karen Jones, Gibney Communications

T: (01) 6610402 / kjones@gibneycomm.ie