Chartered Accountants’ salary package in Leinster rises 6% to €119K – average €7K increase in 2022
Annual survey from Chartered Accountants Ireland Leinster Society and Barden shows flexible & hybrid working remains key focus for members
Salary packages for newly qualified rise by 3%
A new survey published today puts the average salary package for a Chartered Accountant working in Leinster at €119,270, representing an increase on average of €7,000 – or more than 6% – on last year. The survey of more than 1,000 Chartered Accountants, launched today by Chartered Accountants Ireland Leinster Society in partnership with Barden, Ireland’s leading accounting and tax recruitment firm, provides the most up-to-date guide to Chartered Accountant salaries and employment prospects in the Leinster region.
Rising remuneration packages
The research, conducted by Coyne Research between 14 July and 9 August, shows continued strong earning potential for those entering the profession, with newly qualified Chartered Accountants receiving an average salary package (including base salary, car or car allowance, plus bonus) of €58,967, an increase of more than 3% on last year (€57,164).
Almost 9 in 10 (86%) members say their total remuneration has increased in the past three years, compared to 82% in 2021. More than one third of respondents (37%) said their salary had increased by more than 25% this year. The vast majority (88%) of members have a pension, an increase on previous years (85% in 2021 and in 2020), with employers contributing an average 9% of their salary. After basic salary, pension contribution is the most valued part of their package for 51% of respondents.
Remuneration & bonus expectations
While fewer members expect to receive a bonus this year (60%) compared to last year (67%), the survey shows members’ outlook for the future is overall more positive than in previous years. Some 83% of members still expect their total remuneration to increase within the next 12 months, with almost one-fifth (18%) expecting it to increase by more than 10%.
Looking to the future, four-fifths (79%) of respondents believe the market is buoyant, a sizeable increase on 2021 (67%) and a significant jump on 2020 (25%) when the Covid-19 pandemic hit.
Flexible & hybrid working
The survey points to a lasting shift in flexible and hybrid working options for Chartered Accountants, with employers facilitating staff to work from home as part of promoting work/life balance:
- A hybrid arrangement is the most popular option with 73% of members saying their employer facilitates this, while 13% of members work from home full time.
- 4 in 5 members say the ability to work from home is a non-monetary way that their employer supports a healthy work/life balance.
- 74% say that the flexibility to work from home, or being able to work from any location in the future is valuable to them.
- 74% rate their employer as ‘very good’ or ‘good’ at adapting to remote/hybrid working.
- More than a third (36%) claim they are working more hours at home than when working in the office, down from 48% in 2021.
The survey also highlights some of the positive and lasting impacts felt by Chartered Accountants in their work following the pandemic
- 3 in 4 believe the pandemic has not fundamentally changed their work as a Chartered Accountant in their organisation, but ways of working and their skills sets have improved.
- 3 in 5 believe the move to remote working enhanced the communication skills needed to work as a Chartered Accountant in their organisation.
- More than half (53%) say that moving to remote working enhanced their finance software & IT skills, while 50% say their presentation skills improved as a result.
Ann Marie Costello, Chairperson of Chartered Accountants Ireland Leinster Society, said:
“This year’s survey shows a number of very positive market trends. It points to continued strong earning prospects for Chartered Accountants working across Leinster, including for newly qualified members. While expectations around bonus payments have fallen back somewhat, overall remuneration packages are rising across the board, and the vast majority of those surveyed remain confident that salaries will increase again in the year ahead and that there is buoyancy in the market.
“The survey clearly shows that employers have adapted well to new ways of working, and the value members place on flexible and hybrid work arrangements cannot be overstated. It’s reassuring to see the balance being struck between remuneration that is both financially attractive and supportive of work-life balance.”
Elaine Brady, Managing Partner at Barden, said
“The survey shows real confidence in the accountancy sector, both for those newly qualified and well established in their careers. One of the standout trends for the majority of members is that total remuneration has increased consistently over the past three years, notwithstanding the impact of the Covid-19 pandemic. At the same time, we are now seeing clear evidence of flexible and hybrid working becoming embedded norms in the workplace, with almost three quarters of respondents rating their employers as ‘good’ or ‘very good’ in adapting to new arrangements.”
To view the full results of the Salary Survey click here.
Source: Chartered Accountants Ireland