ICAEW Salary Survey 2014 results

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    29-Nov-2014

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Over 3 in 10 ICAEW Chartered Accountants are likely to look for a new position during the next 12 months, reflecting their increased confidence in the job market. Career progression, followed by a rise in salary, would be the biggest motivator for the change. Over 3 in 10 (36%) ICAEW Chartered Accountants are either already looking for a new job or are likely to do it in the next 12 months. For over a third (35%) of those considering a new job the biggest encouragement to change their job would be a further career progression, whereas a quarter would be mostly motivated by a salary increase. When it comes to earnings, ICAEW Chartered Accountants salaries have remained fairly static in the last three years. The average annual basic salary in 2014 is 90,800, though this figure is inflated by a small number of high earners. The median salary, which is more reflective of the majority of earners, is 79,500. Over 6 in 10 ICAEW Chartered Accountants have had a salary review in the past 12 months. Overall, nearly 6 in 10 (57%) have had a pay rise, with most of those having up to 5% salary increase. Looking at bonuses, the proportion of ICAEW Chartered Accountants who receive it has been on a slightly downward trend for the last three years 56% in 2014 (down from 58% in 2013 and 59% in 2012). Nonetheless, the bonus they received has broadly stayed the same over the same period - average bonus in 2014 is 20,500 (while the median bonus is 3,000). Newly qualified ICAEW Chartered Accountants (with up to two years experience) have seen an increase in their pay, to 47,900 in 2014 from 44, 800 in 2013. Across different business sectors, the average basic salary for those in the financial services sector, outside of banking and capital markets and insurance, has risen since 2013. Those working in Middle East and Asia/Asia Pacific continue to have the highest average basic salaries - 156,600 in Middle East and 134,600 in Asia/Asia Pacific.

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<ul><li> 1. Average basic salary and bonus (k) Average (k) (rounded to the nearest 00) Base: All (as shown) 1 UK Bonus 18.3 17.1 17.5 UK Salary 84.7 84.9 84.5 </li> <li> 2. Median basic salary and bonus (k) Median (k) (rounded to the nearest 00) Base: All (as shown) 2 UK Bonus 3.0 2.7 2.5 UK Salary 73.4 75.0 75.0 </li> <li> 3. Average basic salary and bonus by career stage (k) UK (k) Salary Bonus 84.5 17.5 47.6 2.2 51.0 4.1 58.3 5.6 67.9 9.7 86.6 19.2 92.9 20.5 Average (k) (rounded to the nearest 00) Base: All: 4,855; UK: 4,030 Years post qualification 3 </li> <li> 4. 4 Average basic salary and bonus by job role (k) Average (k) (rounded to the nearest 00) Base: All: 4,855; UK: 4,030 UK (k) Salary Bonus 135.2 66.6 104.2 19.2 79.5 17.4 81.2 24.4 85.7 15.1 83.1 5.2 77.4 11.4 73.1 10.5 56.0 5.4 </li> <li> 5. Average basic salary and bonus by age and gender (k) Average (k) (rounded to the nearest 00) Base: All: 4,855; UK: 4,030 UK (k) Salary Bonus 93.9 21.8 61.8 6.9 51.4 4.0 47.8 2.5 89.4 20.9 61.8 7.0 105.0 23.9 66.3 8.9 95.9 24.4 63.1 4.4 5 </li> <li> 6. Average basic salary and bonus by company size (k) Number of Employees Average (k) (rounded to the nearest 00) Base: All: 4,855; UK: 4,030 6 UK (k) Salary Bonus 79.3 12.1 81.6 20.3 84.1 14.1 88.7 19.6 </li> <li> 7. Average basic salary and bonus by sector (k) Average (k) (rounded to the nearest 00) Base: All: 4,855; UK: 4,030 UK (k) Salary Bonus 84.5 17.5 104.3 51.2 95.1 19.1 99.7 25.8 90.7 15.9 91.3 17.3 84.0 13.2 86.3 13.9 85.7 17.2 82.9 11.8 80.6 17.7 76.5 11.7 65.2 1.3 60.5 1.2 7 </li> <li> 8. 8 Average basic salary and bonus by global region (k) Average (k) (rounded to the nearest 00) Base: All (4,855) </li> <li> 9. Average basic salary and bonus by UK region (k) Average (k) (rounded to the nearest 00) Base: All UK (4,030) 9 </li> <li> 10. 10 Likelihood of moving jobs in the next 12 months Base: Total sample = 4,855 (UK = 4,030) UNLIKELY LIKELY LIKELY TO MOVE CURRENTLY LOOKING </li> <li> 11. Who is most likely to move? 11 Base: All: 4,855; UK: 4,030 UK Looking Likely 19% 21% 23% 18% 23% 11% 12% 10% 18% 10% 18% 16% 20% 14% 23% 18% By Age By company size </li> <li> 12. What would encourage you most to change job? 12Base: All currently looking to move or expect to in next 12 months = 1,745 (UK 1,428) *(Inc. Opportunity to work in another country 4%, Better training and development 2%) UK 35% 27% 18% 18% 2% </li> </ul>