Research has shown that accountancy is the one of the top five industries for salary growth over the past year.
Between February 2017 and the year previous, the average salary in the accountancy sector rose from £31,253 to £33,261, a 6.4 per cent increase. Only the automotive, property, manufacturing and legal industries rose more.
The news may come as a shock to those working in the industry who perhaps haven’t seen their wage increased. But with what appears to be a shortage of accountancy professionals in the industry, accountancy firms and businesses are increasing their wages as a way of enticing the top talent.
Demand for accountant and finance roles
In the past year, job vacancies in the accounting and finance sector saw a 7.3 per cent rise. Although there was a rise in vacancies, applications fell by 9.2 per cent over the same period. So while jobs and pay are both above the national average, accountants seem to be unaware of their rarity in the current market and what their true value is.
However, research by Hays Salary and Recruiting Trends shows that over the past year just 13 per cent of accountants’ salaries have increased above 5 per cent. The scope of the salary increase appears to be different for those settled in a position than those who are switching roles.
Accountancy recruitment in London
If you feel that you accountancy skills are being undervalued by your employer, in the current marketplace, there are a number of employers on the look-out for the best talent.
Touchstone Recruitment has a specialist team that oversee the accountancy and finance sector in London. Browse the current jobs available or contact us on 020 3143 4600 to let us know what accountancy role you are looking for.