icaew salary survey 2014 results
DESCRIPTION
Over 3 in 10 ICAEW Chartered Accountants are likely to look for a new position during the next 12 months, reflecting their increased confidence in the job market. Career progression, followed by a rise in salary, would be the biggest motivator for the change. • Over 3 in 10 (36%) ICAEW Chartered Accountants are either already looking for a new job or are likely to do it in the next 12 months. • For over a third (35%) of those considering a new job the biggest encouragement to change their job would be a further career progression, whereas a quarter would be mostly motivated by a salary increase. • When it comes to earnings, ICAEW Chartered Accountants’ salaries have remained fairly static in the last three years. The average annual basic salary in 2014 is £90,800, though this figure is inflated by a small number of high earners. The median salary, which is more reflective of the majority of earners, is £79,500. • Over 6 in 10 ICAEW Chartered Accountants have had a salary review in the past 12 months. • Overall, nearly 6 in 10 (57%) have had a pay rise, with most of those having up to 5% salary increase. • Looking at bonuses, the proportion of ICAEW Chartered Accountants who receive it has been on a slightly downward trend for the last three years – 56% in 2014 (down from 58% in 2013 and 59% in 2012). Nonetheless, the bonus they received has broadly stayed the same over the same period - average bonus in 2014 is £20,500 (while the median bonus is £3,000). • Newly qualified ICAEW Chartered Accountants (with up to two years’ experience) have seen an increase in their pay, to £47,900 in 2014 from £44, 800 in 2013. • Across different business sectors, the average basic salary for those in the financial services sector, outside of banking and capital markets and insurance, has risen since 2013. • Those working in Middle East and Asia/Asia Pacific continue to have the highest average basic salaries - £156,600 in Middle East and £134,600 in Asia/Asia Pacific.TRANSCRIPT
Average basic salary and bonus (£k)
Average (£k) (rounded to the nearest £00)Base: All (as shown)
1
UK Bonus 18.3 17.1 17.5UK Salary 84.7 84.9 84.5
Median basic salary and bonus (£k)
Median (£k) (rounded to the nearest £00)Base: All (as shown)
2
UK Bonus 3.0 2.7 2.5UK Salary 73.4 75.0 75.0
Average basic salary and bonus by career stage (£k)
Average (£k) (rounded to the nearest £00)Base: All: 4,855; UK: 4,030
Years postqualification
3
4
Average basic salary and bonus by job role (£k)
Average (£k) (rounded to the nearest £00)Base: All: 4,855; UK: 4,030
UK (£k)
Salary Bonus
135.2 66.6
104.2 19.2
79.5 17.4
81.2 24.4
85.7 15.1
83.1 5.2
77.4 11.4
73.1 10.5
56.0 5.4
Average basic salary and bonus by age and gender (£k)
Average (£k) (rounded to the nearest £00)Base: All: 4,855; UK: 4,030
UK (£k)
Salary Bonus
93.9 21.8
61.8 6.9
51.4 4.0
47.8 2.5
89.4 20.9
61.8 7.0
105.0 23.9
66.3 8.9
95.9 24.4
63.1 4.4
5
Average basic salary and bonus by company size (£k)
Number of Employees
Average (£k) (rounded to the nearest £00)Base: All: 4,855; UK: 4,030 6
UK (£k)
Salary Bonus
79.3 12.1
81.6 20.3
84.1 14.1
88.7 19.6
Average basic salary and bonus by sector (£k)
Average (£k) (rounded to the nearest £00)Base: All: 4,855; UK: 4,030
UK (£k)
Salary Bonus
84.5 17.5
104.3 51.2
95.1 19.1
99.7 25.8
90.7 15.9
91.3 17.3
84.0 13.2
86.3 13.9
85.7 17.2
82.9 11.8
80.6 17.7
76.5 11.7
65.2 1.3
60.5 1.2
7
8
Average basic salary and bonus by global region (£k)
Average (£k) (rounded to the nearest £00)Base: All (4,855)
Average basic salary and bonus by UK region (£k)
Average (£k) (rounded to the nearest £00)Base: All UK (4,030) 9
10
Likelihood of moving jobs in the next 12 months
Base: Total sample = 4,855(UK = 4,030)
UNLIKELY LIKELY
LIKELY TO MOVE
CURRENTLY LOOKING
Who is most likely to move?
11Base: All: 4,855; UK: 4,030
UK
Looking Likely
19% 21%
23% 18%
23% 11%
12% 10%
18% 10%
18% 16%
20% 14%
23% 18%
By Age
By company size
What would encourage you most to change job?
12Base: All currently looking to move or expect to in next 12 months = 1,745 (UK 1,428)
*(Inc. Opportunity to work in another country 4%, Better training and development 2%)
UK 35% 27% 18% 18% 2%