Tuesday, August 13 11:06:12
A new salary survey of 1,344 Chartered Accountants published today has found that the average salary of a Chartered Accountant in the Leinster region now stands at E87,500.
Over half (57pc) of Chartered Accountants received a salary increase in the last three years, while 40pc reported receiving a promotion. A further 94pc of respondents expressed feeling confident or very confident about their job security heading into 2014.
These and other key findings are contained in the Chartered Accountants Leinster Society Salary Survey 2013, carried out in June 2013 and released today in association with The Panel.
The report finds that average salaries for Chartered Accountants are on the rise at both senior and entry levels of the profession. The average total salary for a Managing Director increased by 4pc in the past year and now stands at E176,200, while remuneration for more junior positions is also on the rise - the average salary for a recently qualified Chartered Accountant is now just over E49,500. A total of 1,344 Chartered Accountants based in the Leinster area responded to the 2013 survey.
The survey also found that 94pc are confident of being in their job next year, with 62pc very confident, up 7 percentage points on the 2012 survey.
Salaries in non-Big 4 practices are increasing, some are on a par with their Big 4 counterparts and 32pc of Chartered Accountants in Leinster have seen their salaries increase by more than 10pc over the last 3 years.
It found that 16pc (down from 26pc in 2012) have had a pay cut in the last three years with a quarter of respondents reporting their salary has remained unchanged.
While respondents reported a curtailment of certain additional benefits such as company cars, conversely there was a marked increase in the number of Chartered Accountants whose further education and training opportunities have been sponsored by their employer.
Paul McArdle Managing Partner, The Panel who assisted with compiling the results said: "The picture emerging from this survey is of a profession reporting increasing confidence, recovering salaries after sustained pressure, and wider benefit packages remaining by and large the same. Fluctuations in salary are always keenly watched as movement in remuneration is a key barometer of business confidence. Given the central position of Chartered Accountants in the running of most businesses, the fact that salaries are on the rise is a very positive indicator for the wider economy."