In Barden we are consumed with supporting companies that really know the value of their people. We also work directly with, and support, professional accountants at every stage of their career. For us it’s critical that we can provide the best up-to-date and cutting-edge insights when it comes to reward so that our clients, and the professionals we work with, can make the most informed and strategic decisions for their teams and professional futures. That’s why partnering with the Chartered Accountants Leinster Society to produce the Salary Survey 2022 is of key importance to us.
Here I share some of the key insights from the survey…
The positive signs we identified in last year’s survey bore out in 2022 but many other unpredictable events have contrived to ensure that both change and uncertainty have remained a constant. However, there is little doubt from the results of this year’s survey that as a profession we are managing and navigating these uncertain times in a very positive manner and that, come what may, Chartered Accountants will continue to enjoy strong career development and reward. For example:
- 80% of members cite their total remuneration has increased in the past 3 years, with 40% claiming an increase of over 25%
- 50% of members have been promoted in the past 3 years, with 25% having moved job in the past 12 months and 79% perceive the jobs market for accountants to be buoyant (up from 67% in 2021)
- 80% of members expect their remuneration to increase in the coming 12 months.
Emerging Trends of Note
This year’s survey examined a number of different areas that are of critical concern to leadership teams and HR alike. Some of the key take-aways include:
Hybrid working: a pattern has clearly been established over 2022 with 73% of members currently in a hybrid working arrangement. Slight outliers do exist with fully remote (13%) and fully in office (14%), but hybrid working is now a key consideration for talent and is an expectation for the vast majority. In a related point, hybrid working has driven an increase in risk for many with cyber security and tech infrastructure underinvestment being identified as the risks that have increased most in recent years.
Talent retention and attraction: with 25% of respondents having moved jobs in the last 12 months it is no surprise that 50% of leaders have seen a deterioration in their ability to retain talent and 40% have seen a reduction in their ability to attract talent.
Benefits: the survey revealed a number of nuances when it comes to benefits that companies provide that could be useful for benchmarking purposes. Headlines include: 1) average of 25 days annual leave, 2) 50% of companies provide healthcare, 3) 80% provide a pension and cover subscriptions and 4) pension was cited as a more important benefit than healthcare.
A final observation relates to the fact that 42% of respondents did not know if their company was required to complete Gender Pay Gap reporting and 45% did not know who in their organisation was responsible for Gender Pay Gap reporting. More work likely needs to be done in this area over the coming months ahead of impending requirements in this space.
Thank you to all of the over 1,000 members who completed this survey to allow us to collate these interesting findings, and of course, to Ann-Marie Costello and the Leinster Society of Chartered Accountants Ireland for all of their help and support in the creation of this publication. This partnership is a natural fit for us, and one we’re extremely proud of.