Welcome to our Interactive Salary Guide
Our annual Salary Survey reveals who's making what in accountancy. Take a look at this year's results to see how you compare to the market.
SENIOR FINANCE ROLES |
Level |
Permanent basic salary range per annum (£) |
Finance Director (including Group & Divisional Levels & Internal Audit) |
90,000 - 150,000+ |
Financial Controller (including Group & Divisional Levels & Head of Finance) |
75,000 - 90,000 |
Financial Planning & Analysis Manager (including head of FP&A, Commercial Manager/Controller & Business Controller) |
70,000 - 90,000+ |
Finance Manager |
60,000 - 75,000 |
Senior Accountant (including Group role & Internal Audit) |
65,000 - 75,000 |
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QUALIFIED FINANCE ROLES |
Level |
Permanent basic salary range per annum (£) |
ACA/CIMA/ACCA Qualified with 3 - 5 years PQE |
65,000 - 75,000 + |
ACA/CIMA/ACCA Qualified with 1 - 3 years PQE |
65,000 - 75,000 |
ACA/CIMA/ACCA Newly Qualified/Passed Finalist
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45,000 - 60,000 |
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PART QUALIFIED ACCA |
Level |
Permanent basic salary range per annum (£) |
Professional Level |
35,000 - 45,000+ |
Fundamentals Level |
25,000 - 35,000 |
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PART QUALIFIED CIMA |
Level |
Permanent basic salary range per annum (£) |
Top CIMA |
40,000 - 45,000+ |
Strategic Level/Managerial Level |
35,000 - 35,000 |
Operational Level/ Certificate Level |
25,000 - 35,000 |
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UNQUALIFIED FINANCE ROLES |
Level |
Permanent basic salary range per annum (£) |
Finance Director |
75,000 - 100,000+ |
Financial Controller |
55,000 - 75,000+ |
Finance Manager/Management Accountant |
35,000 - 50,000+ |
Assistant Accountant |
30,000 - 35,000 |
Accounts Assistant |
23,000 - 30,000 |
Ledger Clerk |
23,000 - 30,000 |
Credit Controller |
25,000 - 45,000 |
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SENIOR INTERIM & CONTRACT |
Level |
Interim rate range per day (£) |
Transitional /Change Manager |
500 - 1,000+ |
Finance Director |
650 - 950+ |
Financial Controller |
450 - 600+ |
Financial Planning & Analysis |
450 - 550 |
Finance Manager |
350 - 450 |
Senior Accountant |
300 - 400 |
Part Qualified |
200 - 300 |
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PAY & REWARD MANAGEMENT
There is no doubt that now, more than ever, reward and pay are both important factors in the attraction, retention and engagement of employees.
The marketplace witnessed little or no fluctuation in the range of benefits tendered to employees although the ‘bundle’ on offer may vary from organisation to organisation, from small to large firms and across assorted sectors. Regardless of this there is no doubt that now, more than ever, reward and pay are both important factors in the attraction, retention and engagement of employees and that the most effective reward packages will be aligned with business needs whilst also serving as a reflection of an organisation’s values.
There are several elements to reward and it is important to choose the appropriate mix of base to variable pay, fixed to flexible benefits and pay to non-pay rewards and to acknowledge the various ways that individual employees view pay and benefits. An organisation’s pay policy reflects its values so it is vitally important that an appropriate communications strategy is adopted to explain which staff behaviours and performances are being rewarded, how and why. The term ‘reward’ generally covers total earnings made to employees, including basic salary or ‘cash pay’ and the broader benefits package and may also include wide ranging provisions of non-pay benefits otherwise referred to as ‘total reward’.
Historically basic salaries were the tool to attract employees to join an organisation; benefits helped retention whilst incentive schemes motivated and increased productivity. Research also points to the fact that individuals are attracted, retained and engaged by a whole range of financial and non-financial rewards which will change over time depending on personal circumstances. Reward elements should complement each other and enlightened employers seek to establish how best they can meet employee needs – as well as meeting the requirements of the business within the appropriate legal and regulatory environment.
These days, organisations employ a range of methods to set pay levels, including job evaluation and market pricing and, where market rates are used, employers should determine where to set their rates; at the median or upper quartile. When agreeing the annual pay review budget employers generally include performance-based pay increases as well as general pay structure and apply one or more of the following considerations: ability to pay, inflation and market rate changes. On the topic of pay progression, employers take a hybrid approach and look at individual performance and market rates as well as competency.
Bonus and incentive schemes are commonly linked to an individual’s performance, followed by approaches based on organisational performance – of which the most popular are those driven by business results, such as profit or revenue targets. Combination schemes use both measures of organisational and individual performance. The advantage of variable pay schemes is that they can link pay closely to desired performance and, in theory, only pay out when there is reason to do so. Variable elements of pay do not generally feed through into other elements, such as overtime or pension contributions, and so create no additional on-costs for the employer.
The range of traditional and tangible benefits offered to employees and executives includes: |
- Paid Bereavement Leave (80%)
- Study Support/Training & Career Development (73%)
- Pensions Benefits – contributory/non-contributory (71%)
- Increased Holiday Entitlement/25 Days’ (and over)
- Annual Leave (66%)
- Subsidised Restaurant/Café and/or Free
- Refreshments(65%)
- Social/Team Building Events/Christmas Party/Lunch (62%)
- Health Benefits – Private Dental/Eye Care/Private Medical Insurance/Life Assurance/Medical Screening/Death in Service (60%)
- Childcare Vouchers (56%)
- Allow Internet Purchase Delivery (55%)
- On Site/Subsidised Parking (54%)
- Bonus Scheme – based on personal and/or company performance
- Company Car/Car Allowance
- Share Options – Executive or Employee
- Financial Benefits – Occupational Pension/Discounted
- Household & Holiday Insurance
- Coaching & Mentoring Programmes
- Enhanced Maternity/Paternity Leave
- Flexible Working Hours
- Leisure/Lifestyle Benefits – Gym Membership/On site
- Crèche/Discounted Shopping
- Season Ticket Loan
- Cycle2Work Scheme
- Give As You Earn/Save As You Earn
- Sabbaticals
(Source: CIPD Annual Survey Report Reward Management)
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