In Q4 of 2012 Specialist Financial Recruitment Marks Sattin conducted a survey with clients and candidates, focused on the demographics, length of tenure, working week, job security, career motivations, department changes, reward and bonus trends of finance professionals.
2. METHODOLOGY
Marks Sattin is a leading multi-divisional specialist accountancy, finance and advisory
recruitment consultancy. Since our formation in 1988, Marks Sattin has established an
excellent reputation for providing the full range of permanent, temporary, contract and interim
professionals within the public and not-for-profit sector, commerce and industry, banking and
finance and public practice.
Marks Sattin is a well-established specialist recruitment firm with over 100 recruitment
consultants based in the UK and Ireland, and a further 60 consultants across our global offices.
To give an outline on the scope and size of our operations:
• In 2012 we helped our clients fill more than 650 temporary placements and 850 permanent
positions
• We currently work with 75 of the FTSE 100 companies
• At any one time we represent over 65,000 finance, accounting and advisory professionals
throughout the UK and Ireland
• We currently average over 24,000 visits to the Marks Sattin website every month
• Marks Sattin are proud to work with a number of The Sunday Times Fast Track 100 and
Best Companies to Work For.
CONTACT US
LONDON
322 High Holborn,
London, WC1V 7PB
+44 20 7321 5000
london.uk@markssattin.com
NORTH WEST
3rd Floor, Centurion House,
129 Deansgate, Manchester,
M2 3WR
+44 161 638 8630
manchester.uk@markssattin.com
THAMES VALLEY
Davidson House,
Forbury Square,
Reading, Berkshire RG1 3EU
+44 118 900 1800
thamesvalley.uk@markssattin.com
YORKSHIRE
Park Row House,
19-20 Park Row,
Leeds, LS1 5JF
+44 113 242 8177
yorkshire.uk@markssattin.com
In Q4 of 2012 Marks
Sattin conducted a
survey with clients and
candidates, focused on the
demographics, length of
tenure, working week, job
security, career motivations,
department changes, reward
and bonus trends of finance
professionals.
Over 2,000 accountancy,
finance and advisory
professionals from 20 industry
sectors across the UK were
surveyed.
The report is based on
findings received from
respondents completing
the survey as well as sector
specific market insight and
salary ranges (annual and day
rates) from our experienced
consultants based at Marks
Sattin’s UK offices.
Market insight and salary
range data tables are
provided across the following
sectors and regions:
Banking and Capital Markets,
Change Management, Front
Office, Insurance, Investment
Management, Senior Finance,
Commerce and Industry,
Executive, Part Qualified
and Transactional, Qualified,
Advisory, Audit, Management
Consultancy, Taxation, North
West, Thames Valley and
Yorkshire.
It is important to note that
this report is a useful guide,
but if you need any tailored
or specific advice please do
contact us directly.
markssattin.co.uk
Marks Sattin
@MarksSattin
3. INTRODUCTION Dave Way
In Marks Sattin’s 25th year of trading, we’re delighted to have received a
record number of responses to our Market Insight 2013 survey. Over 2,000
accountancy and advisory professionals provided their feedback on key
areas such as salaries, bonuses and overall business confidence – as both
they and their employers see it – coming into 2013.
2012 proved to be a year of continued upheaval for the
business community, with the eurozone crisis dragging on and
the double dip recession increasing uncertainty across the
markets. Despite this, the accounting and advisory community
didn’t suffer in the way we’d seen in the previous downturns,
with job cuts and redundancies far less frequent. However,
cost management was still the order of the day, with capital
expenditure, new investment and increased headcount being
something of a rarity.
Some businesses, industries and geographies will always buck
the trend, and there was a resurgence seen throughout the
qualified commerce and industry sector in later 2012. Areas
such as natural resources, digital media, advertising, online
retail and property were all more bullish thanks to improved
trading. Conversely, high street retailers and areas such as
manufacturing suffered significantly.
DAVE WAY
Managing Director
Dave Way, Managing Director of Marks Sattin,
believes in leading by example and is committed to
making Marks Sattin the best financial recruitment
company in the market. Having joined Marks Sattin
as a graduate in 1999, Dave has worked at every
level and division within the business, which gives
him a deep understanding of the workings of financial
recruitment. As such, he has considerable expertise
in providing a bespoke service for clients and
candidates alike.
dave.way@markssattin.com
+44 20 7747 9670
Recruitment within consultancy and public practice quietened
after a busy 2011, as our clients took a cautious approach to
recessionary markets. Financial services and in particular, the
banking community, once more came under fire. But despite
this, recruitment conditions for accountants in financial services
improved as the year went on, with departments increasingly
finding themselves under-resourced amid heavy regulation and
change.
We hope you find the results of our survey as interesting as we
have. Please feel free to contact me or any of the Marks Sattin
team directly to find out further details. From all the team we
wish you a successful year!
INTRODUCTION
4. KEY TRENDS
SALARIES & BENEFITS
Employers began to be slightly more forthcoming with pay
rises for accountancy and advisory staff last year, with 68% of
employees receiving a positive review and only 1% asked to
take a pay cut.
Only 30% of permanent staff and 20% of contract staff were
unhappy with their current salaries, once again showing that
remuneration isn’t a key driver for leaving. This is further
highlighted by the fact that a 5 to 10% uplift in basic salary
would be acceptable should a move come about. 56% of
respondents were happy with their benefits packages, with the
most important benefits being 25 days holiday, pensions and
private healthcare – all of which were deemed more important
than annual bonuses.
The sensitive subject of bonuses was covered in depth in our
survey. 47% of respondents received a bonus, 38% were not
entitled to one and 15% not awarded one. These figures aren’t
necessarily surprising, as bonuses are becoming increasingly
tied to company performance and a high proportion of
companies have failed to deliver on targets over the course of
the year.
68%
spondents
ceived a
68%
ncrease
of respondents
received a
st year
pay increase
Of those receiving bonuses, only 44% were satisfied with
what they received. 1 to 9% of salary was the most consistent
amount paid out across the board (received by 41%) while 32%
received 10 to 19% and a lucky 27% received over 20% of their
basic salaries.
The fact that 1 to 9% of basic salary was the most common
bonus payout is perhaps a sign of the increasing scrutiny
of bonuses by the wider business community, although the
biggest bonuses were still paid within the financial services
sector.
last year
68%
Our survey showed that across the board, accountants were
far better looked after than other professionals. The average
salary for accountancy and advisory professionals rose in 2013,
a strong indicator of the value of finance professionals during
uncertain and changing times.
of respondents
received a
pay increase
56%
Only 30% of
permanent staff and 20%
of contract staff were unhappy
with their current salaries
last year
of respondents were
happy with their
56%
benefits
of respondents were
happy with their
56%
benefits
of respondents were
happy with their
benefits
44%
of respondents were
satisfied with their
44%
bonus
of respondents were
satisfied with their
44%
of respondents were
satisfied with their
bonus
bonus
Our survey showed
that across the board,
accountants were far
better looked after than
other professionals
5. INTRODUCTION Dave Way
JOB SECURITY
Similarly to our other surveys over the past five years, the crystal
ball for 2013 does not show a picture of renewed optimism,
with only 20% of respondents feeling more confident about the
economic prospects facing their companies compared to the
last 12 months.
36% of our respondents anticipated changing roles over the
next year, compared to 52% the previous year. Despite this,
only 44% stated that they are currently happy within their
role, perhaps showing a greater tolerance due to the current
climate. Aligned with this is the clear fact that accountants find
themselves far more secure in their positions than in previous
years, with an overwhelming 78% feeling secure compared to
70% last year. This is clearly an encouraging statistic compared
to previous surveys, where respondents expected headcount
cuts as a result of the economic downturn and uncertainty.
Business process/policy changes (41%) salary freezes (36%)
and budget cuts (35%) are predicted for this year, showing that
belt tightening and cost control are still the order of the day.
Businesses are striving to ensure they maximise profits, but not
to the extent of losing finance staff.
2013
78%
2013
of respondents feel
secure in their
current role
%
of respondents feel
secure in their
current role
78
2012
2012
70%
of respondents felt
secure in their
current role
%
of respondents felt
secure in their
current role
70
33% of respondents
actually saw an increase in
the size of their teams over
the past 12 months
Few businesses are perceived to be taking a long term view
on headcount, which is hardly surprising considering the yo-yo
economy and false dawns seen over the past few years. Only
18% of respondents believed their management were planning
one to two years ahead, whilst the majority (31%) thought that
hiring was short term and only looking six months ahead. This
lack of succession planning, which ties in with the reactive
hiring we’ve experienced throughout 2012, will surely be to the
detriment of some departments if not rectified in 2013. 33% of
respondents actually saw an increase in the size of their teams
over the past 12 months. Many businesses have clearly been as
lean as possible in terms of headcount over the past few years,
and whether this will come back to bite them is yet to be seen.
34% of our participants said their working hours increased
over the past 12 months, with over half putting this down to an
increase in responsibilities. This might suggest that a greater
degree of variety and progression is coming into working life, as
bosses are reluctant to add new heads or contractors to cover
gaps in their departments.
6. KEY TRENDS
MOVEMENT
Overall, we saw a consistent movement of accounting
professionals throughout 2012, with many now feeling it’s an
opportune time to re-enter the job market after staying put
during the worst of the global financial crisis. This is shown by
the fact that 41% of our respondents were only in their first year
of employment in early 2013. In line with this, the majority of
hires in 2012 were replacement hires. As a result, the volume
of counter-offers increased significantly across the board, as
employers reacted to valued team members being offered
higher salaries and rates elsewhere in the market. In 2013,
this reactive element has subsided somewhat. Salaries are
increasing organically, acknowledging the opportunity cost of
losing the best staff to competition.
The motivations for moving on to greener pastures continue
to be an interesting topic for our business. Throughout the
downturn, we’ve seen that accountants seldom move for cash,
although money does remain part of the decision to move (and
very rarely do candidates ever move for less!)
The greatest drivers for moving continue to be career
development, which top scored with 33%, with new challenge/
interesting work in second. Higher salary was cited by just 26%,
showing that our respondents on the whole put their careers
before cold cash.
Recruiters continued to be the top source of finding roles (46%)
with 13% coming from personal contacts. This shows the ever
increasing importance of expanding your business network
and keeping in good favour with previous employers. Where
networking is concerned, 66% of respondents are now on
LinkedIn and 59% on Facebook. Whilst neither will cover all of
the bases in any given job search, this shows how much social
media plays a prominent part in our respondents’ lives. 88%
of respondents state that working with a recruitment agency
is still a vital part of any new job search. Also of note is that
38% of candidates took only three months to find their last role,
primarily as a result of the volume of roles available and being
able to dedicate enough time to the job search.
88% of respondents state
that working with a recruitment
agency is still a vital part of any
new job search.
41%
of respondents
were only in their
first year of
employment
42%
of respondents
would relocate to
the USA
RELOCATION
Never more so has relocation been a hot topic within the finance
community. As a result, our non-London businesses have
continued to offer great opportunities to their local markets,
benefiting from a sizable relocation of resources and highly
talented candidates from the South East to the West, North
East, North West and Ireland. International opportunities are
also becoming more appealing, with candidates’ top motivation
being a better quality of life and the second being a desire to
experience a new culture. Interestingly, and despite the lucrative
options being advertised overseas, only 48% said that money
would be the main reason for moving, which was the fourth
most important reason.
The USA was the most popular destination for a new working
life (chosen by 42%) maybe as a result of its resurgent markets
coming into 2013. The golden beaches of Australia appealed
to 33% of our respondents, followed by the well-documented
and high profile allure of Asia, with Singapore at 33% and Hong
Kong at 32%.
But with talk of bonuses being capped, corporate and personal
taxes being too high and our climate being as unpredictable
as our economy, is now the time to spread our wings? Not
according to the 29% of our respondents who wouldn’t
relocate, primarily because of having settled where they are.
7. KEY FINDINGS Demographics
RESPONDENT PROFILE
Gender
2,016
Social networks actively
used by respondents
67%
respondents took part
in this year’s survey
67%
33%
LinkedIn 66%
of respondents
were male and 33% female
Facebook 59%
Age
Twitter 17%
Less than 25 years 7%
Other 7%
26 to 30 years 23%
31 to 35 years 21%
None 15%
Respondents could choose more than
one answer
36 to 40 years 15%
41 to 50 years 22%
More than 50 years
12%
<25 26-30 31-35 36-40 41-49 >50
years
Work location
11%
59%
Greater
London
12%
64%
Midlands
3%
Yorkshire &
Humberside
5%
South
East
7%
3%
11%
12%
9%
4%
Other
North
West
KEY
Permanent
Contract
8. 2-5
years
UK
years
CURRENT EMPLOYMENT
Which of the following best
describes your qualification
status?
How are you currently employed?
10+
years
2-5
6-10
years
years
10+
years
10+ years’ PQE 36%
10+
2-5
6-10
years
years
5 to 10 years’ PQE
18%
10+
years
10+
2-5
6-10
2 to 5 years’ PQE 21%
years
years
2-5
10+
years
Newly qualified 9%
years
2-5
6-10
10+
years
6-10
years
years
10+
Permanent or fixed
term contract 78%
Unemployed 2%
years
Part qualified 11%
10+
10+
years
Qualified by experience
or not qualified 5%
10+
2-5
6-10
Interim or contractor
20%
years
years
Satisfaction with current
role
10+
years
10+
Pe
r
73%
ent
an
m
73% of respondents would
recommend their employer
of respondents
are unemployed
ent
an
m
Pe
r
Only 2%
ent
an
m
Pe
r
Satisfied 44%
Neither satisfied nor
dissatisfied 26%
Dissatisfied 30%
44% of respondents
are satisfied in their current role
9. Banking
& Financial
Services
28%
43%
Commerce
& Industry
Telecoms and Technology
Retail and Clothing
Property and Construction
FMCG and Pharmaceuticals
Other
Engineering and Manufacturing
Energy and Natural Resources
Business Services
Advertising, PR, Media and Publishing
Other
Retail Banking
Investment Management
Investment Banking
Insurance
Change Management
Capital Markets
KEY FINDINGS Demographics
SECTOR REPRESENTATION
Which of the following best describes the area/sector you currently work in?
11. KEY FINDINGS Market Perspective
ECONOMIC PROSPECTS
Compared with the last 12
months, how confident do
you feel about the economic
prospects facing your
company?
Top 5 expectations for your business in the next 12 months
Business process/policy change 41%
Salary freeze 36%
Budget cuts 35%
Recruitment freeze 34%
More confident 20%
Profitability of business 33%
As confident 52%
Respondents could choose more than one answer from a choice of 14
Less confident 28%
JOB SECURITY
Only 20%
of respondents feel
more confident about the
economic prospects facing
their company compared
with the last 12 months
Expectations for personal
salary and job security in
the next 12 months
How would you rate your
current job security?
64%
64%
Secure 78%
Insecure 22%
64%
Salary freeze 20%
64%
Salary reduction 3%
64%
Shorter working week
2%
Redundancy 1%
64%
Other 14%
Respondents could choose more
than one answer
12. UK
HEADCOUNT
What is the size of your
department?
How has the number of
staff in your team changed
in the past 12 months?
61%
of respondents selected
business growth or expansion
as the main reason for an
increase in staff
34%
Remained
the 34%
same
34%
Remained
the same
Increased 33%
Remained
1 to 5 employees 23%
the same
Decreased 28%
6 to 10 employees
21%
Not sure 5%
11 to 15 employees
12%
16 to 20 employees
8%
More than 20
employees 36%
What is your employer’s
recruitment strategy?
of respondents
selected
headcount reductions as the
main reason for a decrease
in staff
36% of respondents have more than
20 employees in their department
Short term (0-6 months
ahead) 31%
Medium term (6-12
months ahead) 18%
Long term (1-2 years)
18%
Non-existent 10%
Not sure 23%
33%
of respondents have seen an
increase in the size of their
team in the last 12 months
13. KEY FINDINGS Career Insight
EXPERIENCE
Length of time in the
accountancy, finance or
advisory profession
0 to 3 years 9%
Length in current role
1 to 2 years 24%
11 to 15 years 18%
7-10
years
Less than 1 year 41%
7 to 10 years 21%
More than
20 years
4 to 6 years 19%
2 to 3 years 15%
16 to 20 years 9%
3 to 5 years 12%
More than 20 years
21%
5 to 10 years 6%
Not applicable 3%
<1
1-2
2-3 3-5 5-10 >10
years
More than 10 years 2%
41% of respondents have been in their
current role for less than a year
55%of
respondents
chose taking
on more
responsibility as
the main reason
for an increase in
working hours
HOURS WORKED
Average hours worked per
week
How has the number of hours changed in the last 12 months?
Increased 34%
Remained the same
53%
Decreased 13%
14. UK
RELOCATION
Places respondents would consider relocating to in the next 2 years
2%
4
USA 42%
USA 42%
Singapore 23%
Singapore 23%
South Africa 10%
South Africa 10%
Australia 33%
Australia 33%
Hong Kong 22%
Hong Kong 22%
Malaysia 9%
Malaysia 9%
Mainland Europe 28%
Mainland Europe 28%
UAE 19%
UAE 19%
China 8%
China 8%
Within the UK 28%
Within the UK 28%
New Zealand 18%
New Zealand 18%
India 7%
India 7%
Canada 24%
Canada 24%
Ireland 12%
Ireland 12%
Other 3%
Other 3%
Respondents could choose more than one country from choice of 14
Respondents could choose more than one country from a a choice of 14
29% of respondents
would not relocate
Top 5 reasons for
respondents wanting to
relocate
Improved quality of life
61%
Different culture 54%
New career opportunity
52%
Better employment
opportunities 49%
Improved salary
48%
Respondents could choose more
than one reason from a choice of nine
Improved
quality of life
is the main reason for
respondents wanting
to relocate
15. MOVING ON
How do you rate the importance of the following
sources when seeking a new role?
57
%
50
39
%
38
34
29
%
33 33
%
19
%
15
36% of respondents
%
%
20
11
%
%
%
7%
3%
anticipate changing roles
in the next 12 months
Top 5 reasons for leaving
last role
Career development
33%
New challenge/more
interesting work 29%
Higher salary 26%
End of contract
18%
Redundancy 16%
Respondents could choose up to
three reasons
%
38% of respondents
took up to 3 months to
find their current role
17. KEY FINDINGS Salaries & Benefits
REMUNERATION
When was your last pay review?
Less than 6 months
ago 33%
6 to 12 months ago
35%
More than 12 months
ago 12%
68% of respondents
have had a pay review in the
last 12 months
Not applicable 20%
What was the outcome of your last pay review?
33%
of
respondents perceive a
5 to 10% salary increase
as acceptable if they were
to move roles
Pay increase 68%
Pay remained the
same 31%
Asked to take a pay
cut 1%
Satisfaction with current remuneration
t
rac
nt
ent
an
m
ent
an
m
Pe
r
ent
an
m
Pe
r
ent
an
m
respondents
Pe
r
Pe
r
ent
an
m
44%
of permanent
Pe
r
Pe
r
ent
an
m
respondents are
satisfied with their
current remuneration
compared with
ent
an
m
53% of contract
Co
Pe
r
Satisfied 44%
Satisfied 53%
Neither satisfied nor
dissatisfied 26%
Neither satisfied nor
dissatisfied 27%
Dissatisfied 30%
Dissatisfied 20%
18. UK
BENEFITS
25 days
holiday
or more
is the most
desired
benefit
56%
56% of respondents were
satisfied with their benefits
Top 5 benefits currently
received
25 days holiday or
more 78%
Company pension
scheme 64%
1-9%
of salary
Benefits considered most
and least important when
considering a new role
25 days
holiday or more
Annual bonus
scheme
Good
company pension
Private
healthcare
Insurance*
Private healthcare 54%
Sabbatical
Annual bonus scheme
48%
Mortgage relief
Insurance (PMI/death
in service/life insurance)
48%
Respondents could select all benefits
that applied
Season ticket
loan
Daily
subsidised meals
Childcare
vouchers
*PMI/death in service/life insurance
Respondents rated a selection of 20
benefits in order of importance
BONUS
Did you receive a bonus in
2012?
44%
44% of respondents were
satisfied with their bonus
As a percentage of your
basic salary, what was your
bonus in 2012?
Yes 47%
1-9%
of salary
34%
of respondents received the
same bonus in 2012 as 2011
1 to 9% of salary 41%
10 to 19% of salary
32%
20 to 29% of salary
15%
No, not entitled to
receive one 38%
30 to 49% of salary
5%
No, not awarded one
15%
40 to 90% of salary
4%
More than 90% of
salary 3%
19. KEY FINDINGS Salaries & Benefits
BONUS
A comparison of bonuses received across sectors*
100
80
60
40
20
0
Banking and Financial Services
Commerce and Industry
Management Consultancy
Public Practice
KEY
1 to 9% of salary
30 to 39% of salary
50 to 79% of salary
10 to 19% of salary
40 to 49% of salary
More than 80% of
salary
20 to 29% of salary
*Bonuses received as a percentage of salary
21. KEY FINDINGS Market Perspective
ECONOMIC PROSPECTS
Compared with the last
12 months, how confident
do you feel about the
economic prospects
facing your company?
Top 5 expectations for your business in the next 12 months
Business process/policy change 56%
Salary freeze 40%
Budget cuts 36%
Job cuts 35%
Recruitment freeze 33%
More confident 14%
As confident 48%
Respondents could choose more than one answer from a choice of 14
Less confident 38%
JOB SECURITY
Only 14%
of respondents feel more
confident about the economic
prospects facing their company
compared with the last 12
months
Expectations for personal
salary and job security in
the next 12 months
How would you rate your
current job security?
60%
60%
60%
Salary freeze 30%
Secure 69%
Insecure 31%
60%
Redundancy 11%
60%
Salary reduction 1%
YORKSHIRE
60%
Shorter working week
1%
Other 7%
Respondents could choose more
than one answer
22. YORKSHIRE
HEADCOUNT
How has the number of
staff in your team changed
in the past 12 months?
58%
of respondents selected
business growth or
expansion as the main
reason for an increase
in staff
34%
34%
34%
34%
Decreased 31%
Remained the same
31%
Not sure 4%
What is your employer’s
recruitment strategy?
of respondents
selected
headcount reductions as the
main reason for a decrease
in staff
Short term (0-6 months
ahead) 32%
Medium term (6-12
months ahead) 21%
Long term (1-2 years)
14%
of respondents
have more than
20 employees in their team
34%
of respondents have seen an
increase in the size of their
team in the last 12 months
Non-existent 9%
Not sure 24%
YORKSHIRE
23. KEY FINDINGS Career Insight
EXPERIENCE
Length of time in the
accountancy, finance or
advisory profession
0 to 3 years 7%
Length in current role
40 %
7 to 10 years 22%
1 to 2 years 19%
11 to 15 years 18%
2 to 3 years 9%
3 to 5 years 22%
More than 20 years
18%
4-6
years
Less than 1 year 34%
16 to 20 years 11%
60%
4 to 6 years 23%
5 to 10 years 12%
Not applicable 1%
<1
1-2
2-3 3-5 5-10 >10
years
More than 10 years 4%
34% of respondents have been in their
current role for less than a year
HOURS WORKED
Average hours worked per
week
How has the number of
hours changed in the last
12 months?
53%
of respondents chose taking
on more responsibility as the
main reason for an increase in
working hours
YORKSHIRE
Increased 38%
Remained the same
50%
Decreased 12%
24. YORKSHIRE
RELOCATION
Experiencing a
different culture
Top 5 reasons for
respondents wanting to
relocate
Different culture 71%
Improved quality of life
65%
New career opportunity
61%
is the main reason for
respondents wanting to relocate
Improved salary 46%
Better employment
opportunities 43%
Respondents could choose more
than one reason from a choice of nine
Top 5 places respondents
would consider relocating
to in the next two years
Australia 28%
Within the UK 26%
36%
36%
36%
Canada 24%
36%
36%
New Zealand 21%
44% of respondents
would not relocate
Respondents could choose more
than one country from a choice of 14
MOVING ON
Top 5 reasons for leaving
last role
Career development
32%
New challenge/more
interesting work 22%
Higher salary 21%
Redundancy 19%
Better work-life
balance 10%
Respondents could choose up to
three reasons
38% of
respondents
anticipate
changing roles
in the next 12
months
YORKSHIRE
25. KEY FINDINGS Salaries & Benefits
REMUNERATION
When was your last pay
review?
67% of respondents have had
a pay review in the last 12 months
42%
of
respondents perceive a
5 to 10% salary increase
as acceptable if they were
to move roles
Less than 6 months
ago 35%
6 to12 months ago
32%
More than 12 months
ago 14%
Not applicable 19%
68%
of respondents
received a pay increase in
their last pay review
Satisfaction with current remuneration
Co
Pe
r
ent
an
m
Pe
r
ent
an
m
YORKSHIRE
ent
an
m
of permanent
respondents
Pe
r
ent
an
m
39%
Pe
r
ent
an
m
respondents are satisfied with
their current remuneration
compared with
Pe
r
ent
an
m
64% of contract
Pe
r
t
rac
nt
ent
an
m
Pe
r
Satisfied 39%
Satisfied 64%
Neither satisfied nor
dissatisfied 22%
Neither satisfied nor
dissatisfied 29%
Dissatisfied 39%
Dissatisfied 7%
26. YORKSHIRE
BENEFITS
Top 5 benefits currently
received
25 days holiday or
more 85%
Company pension
scheme 67%
Annual bonus scheme
47%
Insurance (PMI/
death in service/life
insurance) 44%
Private healthcare 43%
Respondents could select all benefits
that applied
25 days holiday
or more is the most
desired benefit
Benefits considered most
and least important when
considering a new role
25 days
holiday or more
Company
pension scheme
Annual bonus
scheme
Flexible working
Car or car
allowance
Leisure
facilities
48%
48% of respondents were
satisfied with their benefits
Childcare
vouchers
Mortgage relief
Daily
subsidised meals
Season
ticket loan
Respondents rated a selection of 20
benefits in order of importance
BONUS
Did you receive a bonus in
2012?
36%
39%
36% of respondents were
dissatisfied with their bonus
As a percentage of your basic
salary, what was your bonus
in 2012?
10 to 19% of salary
31%
1-9%
of salary
30 to 39% of salary
3%
40 to 49% of salary
1%
More than 50% of
salary 2%
YORKSHIRE
No, not awarded one
20%
1 to 9% of salary 55%
20 to 29% of salary
8%
Yes 47%
No, not entitled to
receive one 33%
of respondents received the
same bonus in 2012 and 2011
29. COMMERCE & INDUSTRY Market Insight
The big trends of 2012
Amid strong fears over the eurozone crisis and the UK’s
double-dip recession, demand for accountancy and
finance professionals remained resilient, with modest
growth seen in the region throughout the year. This
contradicted many predictions made at the start of
2012, which envisaged a major slow-down and decline
in the sector due to ongoing economic fears.
Businesses realised accountancy and finance professionals
were essential if they wanted to maintain revenues and
continue to grow.
Businesses realised
accountancy and finance
professionals were essential
if they wanted to maintain
revenues and continue
to grow
Outlook for 2013
Whilst the general prospect for strong economic development
remains unlikely, we anticipate demand for accountancy and
finance professionals to continue based on growth over the
past few years, and the ongoing desire businesses have to
keep progressing. This coupled with firms still focusing on cost
reduction means that the role of finance will become ever more
important.
In 2012 the focus was on retaining and attracting the best
talent and this will stay the same in 2013. However, the big
trend as a result of this will be the continued increase in counter
offers.
YORKSHIRE
Over the last few years employers have experienced the
impact of losing high quality employees and to avoid this
continuing, some will be prepared to counter offer. In addition
to this, organisations will be looking to further enhance their
career progression and development offering to boost their
employment appeal.
Reactions to uncertain
market conditions
Whilst the macro factors surrounding Europe, the US fiscal
cliff and the uninspiring budget continue to dominate the
thoughts of business leaders, there is growing acceptance
of the phrase ‘the new normal’, which refers to the market
that we are now accustomed to, and this is unlikely to
change in the short term. This accepted plateau in the
economy has enabled businesses to focus on things they
can control and improve, and employers have been keen to
maximise on such opportunities – developing more efficient
systems and processes, as well as increasing their top line
by selling more products and services to their existing client
base. However, business have not had much appetite for
growing through diversification or mergers and acquisitions,
something that is expected to change as they look to
invest cash reserves built up over the last few years.
In 2012 the focus was on retaining and attracting
the best talent and this will stay the same in 2013
30. YORKSHIRE
Market growth
There has been increased demand for newly qualified
candidates as organisations need to recruit heads
to replace more senior employees. Recruiting at
this level has allowed organisations to put into place
succession planning, and offer individuals greater
career progression opportunities with their company.
There has also been growth within commercial and
financial planning roles due to candidates being able
to demonstrate immediate time, quality and cost
benefits to the business, by making their mark at
the top or bottom line. With the shift towards global
reporting and the move to IFRS candidates with
strong compliance and reporting backgrounds, we
envisage this demand to continue moving forward.
Supply and demand
The sectors that saw solid demand and growth in 2012
are financial services, retail, FMCG and manufacturing
with some modest growth in healthcare and technology.
We anticipate demand to remain resilient throughout
the year, whilst seeing incremental growth in some
areas. This is backed up by a regional survey which
found that over 75% of business leaders expect
growth to remain steady or even increase, with
less than 5% expecting to make redundancies.
There has been increased
demand for newly qualified
candidates as organisations
need to recruit heads
to replace more senior
employees
Taking the next step in
your career
GIVE YOUR CURRENT EMPLOYER A CHANCE
Sometimes employees can be too quick to resign before
exploring all options with their current employer. An
increase in counter offers suggests businesses are not
prepared to lose staff without a fight, so it is worth finding
out what they can offer you before you look to make your
move.
KEEP UP TO SPEED ON MARKET DEVELOPMENTS
Keep up-to-date on what is going on in your sector, within
the general economy and the wider recruitment market.
Also know your value as an employee in the current
conditions so you are in a better position to secure your
next role.
UTILISE SPECIALIST RECRUITMENT EXPERTS AT
EVERY OPPORTUNITY
The service provided to jobseekers is ultimately free,
so take advantage. Recruiters can provide you with
information on the job market, companies, salaries,
bonuses, as well as other related matters to help you with
your next career move.
YORKSHIRE
An increase in counter
offers suggests
employers are not
prepared to lose staff
without a fight
31. COMMERCE & INDUSTRY Market Insight
Why candidates are
making a move
LIMITED PROGRESSION INTERNALLY
Some companies are keeping structures lean and are not
investing in growth so internal opportunities to progress are
becoming limited.
SEEKING A SALARY TO MATCH CURRENT
RESPONSIBILITIES
Some businesses are underpaying employees, and so
naturally these professionals are keen to secure another
opportunity with better remuneration.
Attracting top talent
LOOKING FOR A BETTER WORK-LIFE BALANCE
Companies operating very lean finance structures are
increasing their demands on individuals in various roles.
This is acceptable as a short term measure, but in the long
term it is giving employees a very good reason to leave.
CAREER DEVELOPMENT OPPORTUNITIES
Candidates looking for a new role tend to prioritise career
development over salary, so it is essential you have the
capacity to facilitate progression and internal success stories to
back this up.
OFFER COMPETITIVE SALARIES
Candidates undertake a lot of research prior to searching
for a new role and are well versed on the salary they should
command in the market relative to their experience. Good
compensation packages will help to attract the best talent.
YORKSHIRE
Candidates looking for a
new role tend to prioritise
career development over
salary, so it is essential
you have the capacity to
facilitate progression and
internal success stories to
back this up
CREATE A BETTER WORK-LIFE BALANCE
Providing a better work-life balance is proving to be a challenge
for companies operating leaner structures, but a number of
businesses are facilitating this for their employees and it is
certainly becoming a must-have benefit for candidates.
Spotlight on salaries
Salaries have remained fairly steady compared to the previous
two to three years, especially for the majority of traditional core
financial and management accounting roles. There have been
some exceptions to the rule, though, with candidates attaining
higher salaries than the market average.
33. COMMERCE & INDUSTRY Market Insight
Part qualified
Job title
Salary range
Hourly rate
2012
2013
2012
2013
£16,000-£19,000
£16,000-£19,000
£9-£10
£9-£10
Foundation Stage | 0-2 years
£20,000-£22,000
£20,000-£22,000
£11-£12
£11-£12
Intermediate Stage | 2-3 years
£23,000-£25,000
£23,000-£25,000
£12-£13
£12-£13
Finalist Stage | 3-4 years
£26,000-£28,000
£26,000-£28,000
£13-£14
£13-£14
Certificate Stage | 0-2 years
£20,000-£23,000
£20,000-£23,000
£11-£12
£11-£12
Managerial Stage | 2-3 years
£23,000-£26,000
£23,000-£26,000
£13-£14
£13-£14
Strategic/TOP CIMA | 3-4 years
£27,000-£29,000
£27,000-£29,000
£14-£15
£14-£15
Graduate
Up to 12 months
ACCA
CIMA
YORKSHIRE
Salaries have remained fairly steady
compared to the previous two to
three years, especially for the majority
of traditional core financial and
management accounting roles
35. EXECUTIVE Market Insight
The big trends of 2012
There was a rise in the number of senior candidates
proactively looking for their next career move. Individuals
realised they couldn’t keep waiting for the market to change
and instead needed to make the change themselves to avoid
being left behind their peers.
Outlook for 2013
Given that 2012 was the year of senior candidates pushing
their careers forward, we expect to see an increase in the
number of roles at finance director level, which will in turn
create gaps. If confidence in the market increases in 2013,
more finance directors will want to move, opening up the
opportunities they have left behind for other professionals.
Over the past three to four years, a reluctance to invest and
a need to reduce costs have resulted in many businesses
building up reasonable cash reserves. With the market
now settling we expect companies to look at new growth
opportunities to invest into, creating greater demand
for commercial and strategically focused senior finance
professionals with relevant corporate finance experience.
YORKSHIRE
The majority of
organisations have
been very risk-averse
and therefore unwilling
to make any hasty
business decisions
If confidence in the
market increases in
2013, more finance
directors will want to
move, opening up the
opportunities they have
left behind for other
professionals
Reactions to uncertain
market conditions
The majority of organisations have been very riskaverse and therefore unwilling to make any hasty
business decisions, which has affected recruitment
processes for finance director positions.
36. YORKSHIRE
Market growth
In the past few years the role of finance director has
changed immensely. Individuals have had to play a more
pivotal role, both commercially and strategically, and as
a result there has been notable growth in the amount of
commercially strategic finance directors in the market.
The expectation is that this will continue into
2013, but these desirables in a candidate will
soon become essentials, as employers look
to their finance directors to drive the business
forward alongside the managing director.
Supply and demand
There has been increased demand for commercially focused
finance professionals, as the role of finance has become much
more ‘business partner’ focused. These roles are now better
suited to individuals with strong communication skills, and
those who are able to interact well outside of the finance team.
There is certainly no
shortage of candidates in
the market. However, the
quality is hard to find
There has been
increased demand for
commercially focused
finance professionals,
as the role of finance
has become much
more ‘business
partner’ focused
Taking the next step in
your career
KNOW WHAT BOXES YOU NEED TO TICK
There is no point saying you want to progress in your
career and not knowing what that means to you. For
most candidates, becoming finance director is the goal,
so map out what you need to achieve to make it there.
SPEAK TO THE RIGHT PEOPLE
It is important you speak to the right people in the
market who can give you the right advice. Sometimes
tough love is important, and it’s certainly imperative you
are hearing what you need to hear, not what you want
to hear!
STAND OUT FROM THE CROWD
There is certainly no shortage of candidates in the
market. However, the quality is hard to find, so
make yourself appealing to employers. An MBA
or secondment outside of finance are excellent
achievements to add to your CV.
YORKSHIRE
37. EXECUTIVE Market Insight
Why candidates are
making a move
Very few professionals move just for a higher remuneration;
they move to progress in their career. Candidates are looking
for attractive roles that offer opportunities, and in most
circumstances, finding the right role will provide them with the
relevant remuneration package.
Candidates are also looking for new opportunities because
they are feeling the pressure. Professionals who have sat tight
over the past few years have realised that if they don’t move
forward they won’t be able to compete with their peers.
Spotlight on salaries
As competition to secure the best talent has continued to
increase, the pressure to retain talent has grown and so have
the salaries on offer. Some businesses have been forced to
offer ‘above market’ salaries to counter offer their employees’
prospective employers, and in many cases not surprisingly,
these counter offers have been accepted.
YORKSHIRE
Bonuses were paid out in 2012 but this was largely due to
personal performance as opposed to company performance.
Whilst bonus potential remained high at finance director level,
the actual bonuses paid out were much less due to many
companies falling short of their 2012 goals.
Some businesses have
been forced to offer ‘above
market’ salaries to counter
offer their employees’
prospective employers,
and in many cases not
surprisingly, these counter
offers have been accepted
38. YORKSHIRE
Executive
Job title
Salary range
Hourly rate
2012
2013
2012
2013
Financial Controller
£60,000-£70,000
£60,000-£75,000
£35-£42
£35-£45
Head of Finance
£70,000-£80,000
£70,000-£80,000
£40-£56
£40-£60
Finance Director
£85,000-£100,000
£80,000-£100,000
£50-£70
£50-£80
Chief Financial Officer
£100,000-£130,000
£100,000-£150,000
£90-£120+
£90-£120+
Attracting top talent
BE CLEAR ON WHAT YOU EXPECT
The best candidates in the market are always looking to
move forward and want to know whether their next role
will help them do that. Any uncertainty from a prospective
employer during the recruitment process can be very offputting and create a negative impression of your business.
OFFER A COMPETITIVE REMUNERATION PACKAGE
No matter what is said, remuneration will always remain
a key priority for the majority of candidates, so offer an
attractive salary.
INCENTIVES TO DELIVER
Most candidates want to know that they will be
rewarded if they achieve what is expected of them
over a three to five year period. Not only is this
beneficial to the employer, as it will encourage the
individual to stay for a longer period of time, but it will
also motivate that person to exceed expectations.
Most candidates want
to know that they will be
rewarded if they achieve
what is expected of
them over a three to five
year period
YORKSHIRE
41. TEMPORARY Market Insight
The big trends of 2012
Where businesses were reluctant to increase permanent
headcounts, they used interim professionals to fill the gaps
while they decided what to do in the long term. In addition to
this there was a large demand for professional interims with
strong change, integration and transformation experience as a
result of businesses streamlining to improve efficiency.
Outlook for 2013
With the economy settling and there being greater confidence
amongst senior decision makers, we expect recruitment
levels to increase and activity to improve. Purse strings will be
loosened and recruitment freezes lifted, giving businesses the
flexibility to bring on new hires.
Where businesses were
reluctant to increase
permanent headcounts, they
used interim professionals
to fill the gaps while they
decided what to do in the
long term
We anticipate an increased demand for more commercial and
strategically focused candidates who can help businesses cut
costs, as well as an increase in IFRS candidates with strong
compliance and reporting backgrounds, as there is a shift
towards global reporting.
Reactions to uncertain
market conditions
Businesses have become risk averse and rather than
thinking long term, they are concentrating on short
term goals and plans, opening up the potential for
more interim resources until the market improves.
YORKSHIRE
With the economy settling and there being greater
confidence amongst senior decision makers, we expect
recruitment levels to increase and activity to improve
42. YORKSHIRE
Market growth
There has been continual growth within the change,
transformation and integration sector as businesses try to
streamline processes, merge business units and improve
efficiency.
As a result of the difficult economic conditions, there has
been an increased demand for interim professionals to
steady business activity whilst firms decide what they want
to do in the long term – a trend we expect to continue.
Supply and demand
Generally there has been greater demand for candidates
to support businesses striving to improve business
activity and profitability. Whilst the role of the technical
accountant remains crucial, companies have been
looking for more commercially minded candidates to
help steer their business in a more strategic direction.
Whilst the role of the
technical accountant
remains crucial,
companies have
been looking for more
commercially minded
candidates to help steer
their business in a more
strategic direction
As a result of the difficult
economic conditions, there
has been an increased
demand for interim
professionals to steady
business activity whilst firms
decide what they want to do
Taking the next step in
your career
HAVE A PLAN
Be completely confident with your own career path and
development plans.
GET MORE QUALIFIED
Make yourself more appealing to prospective employers
with further qualifications, such as an MBA or Prince II.
DON’T PRICE YOURSELF OUT OF THE MARKET
Research what current rates are being paid against your
skill set and be realistic about what you are worth.
YORKSHIRE
43. TEMPORARY Market Insight
Why candidates are
making a move
Career progression and a desire for fresh challenge are key
reasons for interim professionals wanting to move roles.
Candidates are keen to impress and news travels fast, so
making a name for yourself in the market is a priority. There
is also the appeal of new industry exposure for seasoned
interims and the opportunity to shine in front of new
management during what is proving to be a very testing
period in the marketplace.
Spotlight on salaries
Attracting top talent
Day rates have remained fairly consistent with little drastic
change to report. Despite the uncertainty, the demand for
interim staff has remained steady and in some instances
increased, which has allowed these individuals to retain their
day rates. For those businesses going through periods of
change and transformation, there has been a notable demand
for contractors with a reflective skill set. This has proved to be
business critical and in such instances, candidates have been
fortunate enough to improve on their existing rates.
PROVIDE CLARITY ON WHAT THE BUSINESS NEEDS
Give prospective employees a clear profile of the
candidate you are looking for and what will be
expected of them to help meet the business needs.
ENSURE YOUR RECRUITMENT PROCESS RUNS
SMOOTHLY
Keep the number of interview stages to a minimum
and provide regular and prompt updates to candidates
on the progress of their application. Candidates will
have a stronger belief in a business that sticks to its
word and runs a hassle-free recruitment process.
YORKSHIRE
PROVIDE OPPORTUNITIES TO DEVELOP
A clear path for progression remains among candidates’
top priorities when searching for a new role, so make sure
you have the capacity to do this and make sure this is
clearly communicated during the recruitment process.
A clear path for progression remains among candidates’
top priorities when searching for a new role, so make
sure you have the capacity to do this and make sure this
is clearly communicated during the recruitment process
44. YORKSHIRE
Executive
Job title
Hourly rate
2012
2013
Financial Controller
£35-£42
£35-£45
Head of Finance
£40-£56
£40-£60
Finance Director
£50-£70
£50-£80
£90-£120+
£90/£120+
Chief Financial Officer
Qualified
Job title
Hourly rate
2012
2013
Newly Qualified ACMA
£15-£17
£15-£17
Management Accountant
£16-£18
£16-18
Newly Qualified CA
£16-£19
£16-£19
Business Analyst
£18-£22
£18-£22
Financial Analyst
£18-£22
£18-£22
Finance Manager
£20-£25
£20-£25
FP&A Manager
£30-£35
£30-£35
Part Qualified
Job title
Hourly rate
2012
2013
£9-£10
£9-£10
Foundation Stage | 0-2 years
£11-£12
£11-£12
Intermediate Stage | 2-3 years
£12-£13
£12-£13
Finalist Stage | 3-4 years
£13-£14
£13-£14
Certificate Stage | 0-2 years
£11-£12
£11-£12
Managerial Stage | 2-3 years
£13-£14
£13-£14
Strategic/TOP CIMA | 3-4 years
£14-£15
£14-£15
Graduate
Up to 12 months
ACCA
YORKSHIRE
CIMA
47. PROFESSIONAL SERVICES Market Insight
The big trends of 2012
Outlook for 2013
Although recruitment within tax and audit was busy last
year, recruitment was generally quieter than it was in 2011,
most notably in restructuring.
Many firms have waited until 2013 to recruit, and as a result
the need to hire has slowly become more urgent.
Recruitment was stagnant across the Big 4, culminating
in a high number of redundancies, especially from KPMG,
which reduced its headcount by 5% during the second half
of 2012. With the Big 4 not recruiting, the main bulk of the
recruitment activity was generally left to the mid-tier firms
like Grant Thornton.
Predicted changes
in 2013
THE BIG 4 WILL RE-ENTER THE RECRUITMENT MARKET
They have generally been unable to recruit over the last year.
MORE MOVEMENT AT THE EXECUTIVE LEVEL
There are currently a number of attractive opportunities
available.
MORE MERGER ACTIVITY AND FURTHER CHANGES IN
THE TOP 100 FIRMS
This is in the wake of the PKF and BDO merger.
YORKSHIRE
Recruiting candidates who
can bring new work to the firm
either through their current
portfolios or by networking, will
help to increase revenue
Within tax in the Big 4, top 10 and independent firms, there
will be a regular need to recruit due to the continual changes
in legislation, client pressures to reduce their taxes and
firms looking to add more headcount to their specialist tax
teams such as expat, financial services and research and
development.
Restructuring has been the slowest area in recruitment over
the last two years and we expect this to continue over the
rest of the year. Revenues in all the major insolvency houses
have been consistently down, partly due to the ’zombie’
companies, but this is also a result of insolvency practitioners
being unable to sell the assets of insolvent firms and release
their fees.
Corporate finance and transaction services have seen a
steady amount of recruitment over the last year and should
continue to do so in 2013. In these areas the emphasis has
been on recruiting experienced individuals, which has meant
more activity at manager level and above. Over the last year
we have seen the Big 4 and top 10 recruit at these levels.
However, there has been greater activity within the boutique
corporate finance houses.
Towards the end of 2012, audit recruitment became more
urgent and this has continued into 2013, with the Big 4, top
10 and independent firms all recruiting in this sector. This has
been a result of a large number of audit candidates making
the move into industry, some of professionals relocating and
a high volume of professionals being seconded to other areas
of their firms.
In 2012 most firms struggled with market conditions, but
now the majority of mid-tier firms have turned a corner and
are looking to bolster their resources, all of which suggests
positive signs for growth and profit over the year.
48. YORKSHIRE
Reactions to uncertain
market conditions
Employers have been cautious when looking to bring
in a new hire, so the sign off process has been more
complicated and elongated. Many firms have waited to
recruit, choosing to cover additional workload internally,
and as a result the need to hire has been more urgent.
A large amount of redundancies have been made
and although market conditions have been uncertain,
professionals who have been made redundant have
generally been quickly recruited into new roles, highlighting
that high-calibre individuals will always be snapped up.
Many firms that struggled during 2012 lost senior
members of their team, but a number of these individuals
have since gone on to start up new firms of their own.
Their aim has been to provide a more cost effective
service to clients whilst maintaining a high quality level of
work. This has resulted in numerous niche accountancy
practices being set up throughout Yorkshire and these
firms are now recruiting to service work won in 2012.
Skills in demand
Tax candidates, at all levels from trainee to partner, have
been in high demand. This will continue throughout
2013 as the tax area continues to grow, especially
with the many changes in legislation that have created
greater demand on accountancy firms to provide both
corporate and personal tax advice to their clients.
Supply and demand
Taking the next step in
your career
THINK ABOUT YOUR LONG TERM PLAN
In the current climate every career move you make
needs to add another element to your CV and give you
experience in a new area. For example, if you want to
become a partner in the long term, you need to think
seriously about a role which gives you exposure to
business development.
THINK ABOUT THE ORGANISATION YOU ARE
JOINING
Carefully consider whether this business will give you
the progression you need, determine if it will be a good
cultural fit for you and ask yourself if the role is going to
challenge you. If the organisation doesn’t fulfil all these
criteria, you should reconsider whether this opportunity
is right for you.
MOVE UPWARDS
Make sure the role is an upward step rather than a
sideward move.
YORKSHIRE
Activity has been light in restructuring and consultancy,
whilst tax has been very busy. In general though, activity
has been minimal in a lot of areas, with redundancies
happening in the majority of the Big 4. Most recruitment that
did happen was with the independent and mid-tier firms.
Tax candidates, at all
levels from trainee to
partner, have been in
high demand
49. PROFESSIONAL SERVICES Market Insight
Why candidates are
making a move
Businesses remain cautious about hiring and as a result,
departments are feeling the strain of being understaffed and
individuals are feeling the stress of being overworked. In
these environments, people typically seek new opportunities
for greater job satisfaction and also because they feel
underappreciated for the work they do.
This sense of caution is also causing a freeze on pay and
promotions, providing another reason for candidates to look
for another role.
Redundancies are also still happening and therefore giving
individuals no option but to look elsewhere.
Spotlight on salaries
Attracting top talent
Salaries and bonuses have remained fairly consistent over
the last few years, except within tax, where jobs have seen
a slight increase of 5%. Tax professionals have been in
great demand across the Yorkshire region, with high quality
candidates being able to negotiate their base salaries as a
result of multiple offers.
OFFER LONG TERM STRUCTURE
Job offers cannot be based purely on salary anymore as
candidates need a challenge and a chance to progress, so
offer a role full of opportunities and longevity.
YORKSHIRE
In the corporate finance market there have been numerous
occasions where candidates have left the Big 4 and top 10
firms for smaller boutique firms in search of more lucrative
bonuses. Although base salaries in the smaller firms may not
be as appealing, the opportunity for larger bonuses is much
greater.
HAVE A USP
Sell the role as a unique opportunity that the candidate will
not find at another firm.
INSTILL A GOOD TEAM CULTURE
Create a good company culture that candidates will talk
about and make them want to work for you.
Job offers cannot be based purely on salary anymore as
candidates need a challenge and a chance to progress,
so offer a role full of opportunities and longevity
50. YORKSHIRE
Qualified | By type
Job title
Big 4 salary range
Mid-tier salary range
2012
2013
2012
2013
1st Year Trainee
£25,000-£30,000
£25,000-£30,000
£22,000-£28,000
£22,000-£28,000
Finalist | 2+ years
£28,000-£30,000
£28,000-£30,000
£25,000-£28,000
£25,000-£28,000
Newly Qualified
£32,000-£39,000
£32,000-£39,000
£32,000-£36,000
£32,000-£36,000
Manager
£42,000-£45,000
£42,000-£45,000
£42,000-£45,000
£42,000-£45,000
Senior Manager
£62,000-£80,000
£62,000-£80,000
£58,000-£75,000
£58,000-£75,000
Director
£75,000-£85,000
£75,000-£85,000
£65,000-£80,000
£65,000-£80,000
£140,000-£300,000
£140,000-£300,000
£80,000-£180,000
£80,000-£180,000
ACA/CTA Partner
Audit/Accounts
Job title
Big 4 salary range
Mid-tier salary range
2012
2013
2012
2013
Trainee | 2-3 years
£25,000-£30,000
£25,000-£30,000
£22,000-£28,000
£22,000-£28,000
Finalist
£28,000-£30,000
£28,000-£30,000
£25,000-£28,000
£25,000-£28,000
Newly Qualified
£32,000-£39,000
£32,000-£39,000
£32,000-£36,000
£32,000-£36,000
Manager
£42,000-£45,000
£42,000-£48,000
£42,000-£45,000
£42,000-£45,000
Senior Manager
£62,000-£80,000
£60,000-£80,000
£58,000-£75,000
£58,000-£75,000
Director
£75,000-£85,000
£75,000-£85,000
£65,000-£80,000
£65,000-£80,000
Partner
£140,000-£300,000
£140,000-£300,000
£80,000-£180,000
£80,000-£180,000
Recovery/Insolvency
Job title
Big 4 salary range
Mid-tier salary range
2013
2012
2013
Junior Administrator
£20,000-£27,000
£20,000-£27,000
£18,000-£24,000
£18,000-£24,000
Senior Administrator
£33,000-£43,000
£33,000-£43,000
£33,000-£42,000
£33,000-£42,000
Assistant Manager
£42,000-£50,000
£42,000-£50,000
£38,000-£45,000
£38,000-£45,000
Manager
£50,000-£78,000
£50,000-£78,000
£45,000-£60,000
£45,000-£60,000
Senior Manager
£70,000-£100,000
£70,000-£100,000
£60,000-£90,000
£60,000-£90,000
Director
£80,000-£190,000
£80,000-£190,000
£75,000-£135,000
£75,000-£135,000
Partner
£150,000-£550,000
£150,000-£550,000
£100,000-£250,000
£100,000-£250,000
YORKSHIRE
2012
51. PROFESSIONAL SERVICES Market Insight
Forensics
Job title
Big 4 salary range
Mid-tier salary range
2012
2013
2012
2013
Part Qualified
£20,000-£30,000
£20,000-£30,000
£18,000-£24,000
£18,000-£24,000
Newly Qualified
£38,000-£45,000
£38,000-£45,000
£38,000-£42,000
£38,000-£42,000
Manager
£48,000-£62,000
£48,000-£62,000
£45,000-£55,000
£45,000-£55,000
Senior Manager
£60,000-£86,000
£60,000-£86,000
£55,000-£75,000
£55,000-£75,000
Director
£80,000-£150,000
£80,000-£150,000
£80,000-£110,000
£80,000-£110,000
Partner
£140,000-£550,000
£140,000-£550,000
£120,000-£220,000
£120,000-£220,000
Transactional Services/
Corporate Finance
Big 4 salary range
Mid-tier salary range
Job title
2012
2013
2012
2013
Analyst
£22,000-£34,000
£22,000-£34,000
£22,000-£33,000
£22,000-£33,000
Executive
£38,000-£42,000
£38,000-£42,000
£32,000-£40,000
£32,000-£40,000
Manager
£45,000-£55,000
£45,000-£55,000
£42,000-£45,000
£42,000-£45,000
Senior Manager
£60,000-£75,000
£60,000-£75,000
£50,000-£65,000
£50,000-£65,000
Director
£75,000-£90,000
£75,000-£90,000
£60,000-£85,000
£60,000-£85,000
Partner
£150,000-£700,000
£150,000-£700,000
£100,000-£200,000
£100,000-£200,000
YORKSHIRE
There has been a slight increase in taxation
salaries, as well as a rise of around 5% in
transaction services, due to skills shortages in
these areas.
52. ACKNOWLEDGEMENTS
We would like to extend our appreciation to all those who
completed this survey and made this market report possible. If you
didn’t participate, please do so next year so we can continue to
develop the depth and quality of this report and provide you with a
fair and balanced picture.
This report is only ever intended to give a very general overview
on the changing nature and complexity of the employment market
for accountancy, finance and advisory professionals and can
serve as a useful guide. However, if you require a more tailored
and confidential discussion on how this will affect your business,
finance department or indeed your own career, please do not
hesitate to get in touch.
Alex Voskou Alicja Skrakowski
Editor and Marketing: Kirsty
Assistant Editor:
Promotion:
Your future in finance and accountancy
Kelly
gaapweb.com
DISCLAIMER
This research was carried out by means of an electronic
questionnaire and supplemented with data and market
information that Marks Sattin has access to. The results are
provided as generic market information only. Marks Sattin does
not make any warranties regarding the use, validity, accuracy or
reliability of the results and information obtained. Marks Sattin
will not be liable for any damages of any kind arising out of or
relating to use of this information.
Commercial use and distribution of the contents of this
document is not allowed without express and prior written
consent of the author.