- Average pay for accountants up 7.2% in 2013
- 62% of accountants expect a salary rise in the next year and 42% anticipate increased hiring
- Despite this, two thirds of accountants are considering a move overseas for more money and better prospects
Irish accountants’ salaries are up 7.2% in 2013, with basic pay rising to an average €58,794 per annum, from €54,844 in 2012, according to research by accountancy and finance recruiter Marks Sattin.*
In addition to their salary, 44% of accountants received an increased average bonus of 14% (€8,419), compared to 51% of them gaining 10% (€7,791) last year. This therefore brings average total remuneration for those that received a bonus in 2013 to €67,213, and the average across all accountancy professionals in Ireland to €62,692.
The research also revealed 42% of accountancy firms in Ireland expect to increase headcount in 2013 compared with just 38% in 2012. The majority of accountants hold an optimistic outlook with 62% expecting a salary increase over the coming year.
Dan McKeown, Ireland Manager at Marks Sattin said:
“Coupled with an expected increase in hiring over the next year, this salary rise goes a long way to show the strength and competition for talent in the accountancy and finance sector in Ireland. Experienced accountants are highly valued at a time when there is a strong focus on financial health and compliance and these salary rises reflect that.”
Over a third (35%) of accountants anticipate moving roles in the next year, citing career development and new challenges as the main reasons for seeking such a move.
Over two thirds (69%) have also indicated they would consider a move overseas for the right role. The main reasons for this are better employment prospects (58%) and to improve their earning power (57%). The most popular destinations are the US (37%), UK (36%) and Australia (28%) suggesting the language spoken is one of the key considerations.
Dave Way, continues:
“As more than a third of accountants expect to move roles over the coming year, it is a clear reflection of growing confidence and optimism within the sector. Accountants are now feeling more secure in their current positions and this has given them confidence to begin to look for their next role.
“It is also interesting to note a large proportion are considering working abroad for improved prospects and better pay, when it would seem Ireland may provide both of these things for those that choose to stay.”
* Research conducted among 289 Irish Accountants as part of the Marks Sattin Market Insight report, conducted among a total of 2,016 UK and Irish Accountants