Great expectations for Accountants’ bonuses
- Accountants expect bonuses of 18.1% this season - up 1.1 percentage points compared with last year
-
Average bonus expected to be £11,587, up from £11,012 in 2012
UK accountants expect to receive an average bonus of 18.1% this season (Christmas 2013- 2014 Q1), according to research from specialist accountancy and finance recruiter Marks Sattin.* This would be the highest level in percentage terms since 2010 when the average bonus hit 19%.
Expected bonuses this year represent a 3.1% increase on last year’s expectations of 15% which would translate into a 1.1% increase on the 17% bonus actually paid.
In cash terms, the average bonus expected this year is £11,587 which would be an increase of £575 compared with last year. Despite expectations being lower than 2010 in percentage terms, they are £1,149 higher in cash terms due to rising base salaries. [see table 1]
The total bonus pot is anticipated to be around £3.4 billion in 213/14, compared with £3.1 billion last year.
This confidence reflects positivity in the accountancy profession as a whole. Profits per partner have risen by as much as 9% within the big four firms, there has been an increase in M&A activity and large headcount increases have been announced. There are almost 12,000 new roles projected to be created according to Marks Sattin.
Dave Way, Managing Director of Marks Sattin comments, “Last year, accountants’ bonuses exceeded their own expectations, and this year they’ve revised them up accordingly. It’s been a strong year for the sector, with the recovery taking hold and economic activity on the rise so confidence is high. A strong bonus season will really cement the feeling that we’ve turned a corner.”
Retention
Separate research by Marks Sattin** has found that the importance of financial incentives for accountants has grown in the past year, with 30% now saying this was a key reason for leaving their last role compared with 28% last year. This is now the second most common reason for changing jobs, leapfrogging “seeking a new challenge” which is a key reason for 29% of professionals. The most common reason to leave however, is still for career development (33%).
Dave Way adds: “Remuneration is growing in importance for accounting professionals and managers should be aware of this when it comes to bonus season. However, the itch of a stagnant career is something no amount of money will scratch, so equally important is a focus on talent management and career progression.”
*Based on poll of 656 accountants conducted in November 2013
**Marks Sattin Salary Survey 2013
*Based on poll of 656 accountants conducted in November 2013**Marks Sattin Salary Survey 2013
Signup to receive the latest discipline specific articles
Related articles
Teaser
Finance & AccountingContent Type
General
25/04/24
Summary
Over the years, we have developed a strong reputation as a leading Senior Finance and Executive Search firm. We’re proud to have well-established teams of finance and accounting recruitment cons
by
Neil Burton
Teaser
GovernanceContent Type
Fintech
18/04/24
Summary
The role of risk and compliance in financial services As a sizeable, growing portion of the financial services sector, risk and compliance play a vital role in ensuring that firms conduct busine
by
David Clamp
Teaser
Executive SearchContent Type
General
18/04/24
Summary
Private equity (PE) is a growing industry that has always attracted ambitious top talent due to its high risk/high gain capital investment. Pre-covid, we saw the global private equity industry b
by
Tracey Alper
Related jobs
Salary:
£24,000 - £28,000 per annum
Location:
Birmingham, West Midlands
Industry
Property and Infrastructure
Qualification
None specified
Market
Commerce & Industry
Salary
£25,000 - £30,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
New graduate? Looking for exposure within a financial role? Well, I might have a role for you.
Reference
BBBH180135
Expiry Date
01/01/01
Author
Olivia BalnaveAuthor
Olivia BalnaveSalary:
£80,000 - £90,000 per annum
Location:
Madrid
Industry
Technology
Qualification
None specified
Market
Commerce & Industry
Salary
£80,000 - £100,000
Job Discipline
Software Development
Contract Type:
Permanent
Description
Full-stack Security Engineer
Reference
BBBH179465
Expiry Date
01/01/01
Author
Ghazal MayahiAuthor
Ghazal MayahiSalary:
£24,000 - £27,000 per annum
Location:
Birmingham, West Midlands
Industry
Property and Infrastructure
Qualification
None specified
Market
Commerce & Industry
Salary
£25,000 - £30,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
New graduate? Looking for exposure within a financial role? Well, I might have a role for you.
Reference
BBBH180048
Expiry Date
01/01/01
Author
Olivia BalnaveAuthor
Olivia BalnaveSalary:
£29,000 - £39,000 per annum
Location:
Leeds, West Yorkshire
Industry
Business Services
Qualification
None specified
Market
Financial Services
Salary
£35,000 - £40,000
Job Discipline
Tax
Contract Type:
Permanent
Description
.
Reference
BBBH180132
Expiry Date
01/01/01
Author
Aleksandra TaranovskajaAuthor
Aleksandra TaranovskajaSalary:
£60,000 - £75,000 per annum
Location:
London
Industry
Private Equity
Qualification
Fully qualified
Market
Financial Services
Salary
£70,000 - £80,000
Job Discipline
Qualified Finance
Contract Type:
Permanent
Description
Fund Controller - Private Credit An excellent opportunity has arisen within a big player in the private credit sector who looking to hire a Fund Controller.
Reference
BBBH179469
Expiry Date
01/01/01
Author
Paul RocheAuthor
Paul RocheSalary:
£150,000 - £170,000 per annum + Equity, Bonus and Benefits
Location:
City of London, London
Industry
Business Services
Qualification
Fully qualified
Market
Executive Search
Salary
£125,000 - £175,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search is working with a Well-Established Listed B2B Infrastructure Consultancy Business
Reference
TA3249
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£28,000 - £31,000 per annum
Location:
Leeds, West Yorkshire
Industry
Business Services
Qualification
None specified
Market
Commerce & Industry
Salary
£30,000 - £35,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
Credit Controller - Leeds - Up to £30k!
Reference
BBBH178529
Expiry Date
01/01/01
Author
Cameron WalshAuthor
Cameron WalshSalary:
£70,000 - £90,000 per annum
Location:
London
Industry
Investment Banking & Capital Markets
Qualification
Fully qualified
Market
Financial Services
Salary
£80,000 - £100,000
Job Discipline
Legal
Contract Type:
Permanent
Description
Legal Counsel - (Capital Markets & Mortgages) London (Hybrid) £70,000 - £90,000 base p/a
Reference
BBBH180118
Expiry Date
01/01/01
Author
Maximillian SombartAuthor
Maximillian SombartSalary:
£35,000 - £55,000 per annum
Location:
Grimsby, Lincolnshire
Industry
Manufacturing
Qualification
None specified
Market
Financial Services
Salary
£50,000 - £60,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
Our Grimsby based food manufacturing client is looking for someone experienced in product costing to join them as a Costing Manager.
Reference
BBBH179883
Expiry Date
01/01/01
Author
Dean FollandAuthor
Dean FollandSalary:
£110,000 - £130,000 per annum
Location:
London
Industry
FinTech
Qualification
Fully qualified
Market
Financial Services
Salary
£125,000 - £175,000
Job Discipline
Legal
Contract Type:
Permanent
Description
Commercial Legal Counsel - Fintech (3-7PQE) London (Hybrid / Remote) £110-130k base p/a
Reference
BBBH180111
Expiry Date
01/01/01
Author
Maximillian SombartAuthor
Maximillian Sombart