Remuneration for accountancy roles has reached a ‘record high’, according to research from CV Library, with average salaries growing 9% to reach £34,660
Figures provided by the UK recruitment website CV-Library show salaries for accountancy jobs rose by nearly 9% over the year from September 2017 to September 2018.
The average salary increased from £31,850 in September 2017, to £34,660 in September 2018. This hike in pay means that the average salary for accounting professionals has reached a record high.
CV-Library say the accounting sector outpaced the national average of 6.6% in terms of growth and is now in the list of the top 10 UK industries for pay growth.
Job vacancies in the accounting sector also saw an increase in September, jumping by 10.4% when comparing year-on-year data.
‘Pay is on the up, meaning many accounting professionals may be finding themselves in a better financial position than they were this time last year. And the good news doesn’t stop there, this growth massively outpaces the national inflation rate, which currently sits at 2.5%,’ said CV-Library managing director Lee Biggins.
‘This jump in salaries could be a direct result of ongoing skills shortages, which are forcing businesses to pull out all the stops to attract and secure talented new employees. What’s more, with unemployment at its lowest level since 1975, businesses are having to offer the most competitive packages if they wish to convince candidates to begin moving around the job market right now.’
He added that employers were currently offering attractive salaries to attract applicants.
‘For workers, it’s important to note that there are plenty of career opportunities available across the accounting sector right now, with a number of employers offering generous pay packets,’ he said.
Report by Rob Munro