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We were delighted to co-host the official launch event of the results of the Salary Survey 2023 from the Chartered Accountants Leinster Society, in partnership with Barden, on Wednesday 6th September 2023. It was a great evening in some September sunshine!
For us here at Barden, it is always essential that we can provide the best up-to-date and live insights when it comes to rewards for the professionals we work with and to support them in making the most informed and strategic decisions for their professional futures.
As one of the team who specialises in the Newly Qualified market, I wanted to share some of my key findings from the results (Leinster-based salaries), and in particular, focus on those relating to Newly Qualified Accountants…
- The average basic salary for all Newly Qualified Accountants across all sectors is €59,089 – this is an increase of €3,634 on the 2021/2022 figures.
- The average salary package for Newly Qualified Accountants in Industry is €68,258.
- The salary package for Newly Qualified Accountants in all sectors is €62,866 – that is a notable increase of 6.6% year on year.
- Similar to last year’s salary survey, there continues to be unprecedented demand for Newly Qualified Accountants in the market at the moment.
There continues to be a struggle by companies of all sizes to attract accounting talent, something that has been felt mainly at the 0-5 years PQE level. Many newly qualified accountants are opting for time overseas rather than opportunity in the local market when starting off their careers. This has resulted in key gaps in many finance teams and a reduced supply of relevant talent in the local market. It will be no surprise to most that the highest growth in salaries has been seen at this level also. Ultimately this will resolve itself, but it could be another 12-18 months before we see the gap between supply of and demand for accounting talent level out.
Another key takeaway from this year’s salary survey is that a pattern has clearly been established now on work-from-home policies, with 75% of members currently in a hybrid working arrangement, an increase of 2% from last year. There will always be outliers to this of course, with 15% fully in the office and 10% fully remote. It is safe to say that this level of flexibility will be with us for the long-term.
Another point worth noting is that 20% of participants are very satisfied with their work/life balance, an increase of 3% on last years figures and 44% are satisfied (at all levels of employees – NQ to senior) which shows the transition back to the office, coupled with hybrid working continues to be successful.
Finally, if and when moving roles 48% use recruitment agencies, consistent with last year, 31% move roles through word of mouth and 32% were referred through their own network which shows the continued importance of networking, and the importance of attending in-person events and social activities.
To download a copy of the Salary Survey 2023 publication click here.
I hope you found this information helpful and if you would like further information, please feel free to reach out to the Recently Qualified team here in Barden!
Coming out of your training contract in 2023? Do you want to make sure you make the very best first step after qualifying? Do you want a coffee meeting with an expert recruitment consultant; someone who is a qualified accountant, just like you (meet some of our team here >>>)? Do you want a little help to create your very own best financial future? No problem. Just drop us a line today on hello@barden.ie and we will take it from there. Simple.