The latest research from Robert Walters has found that more two thirds of accounting and finance professionals working in the UK anticipate a pay rise in 2017. Notably this year, 79% of professionals received a pay rise and 89% received a bonus.
“As employer confidence grew across commerce and industry sectors in 2016, the demand for qualified and part-qualified accountants increased causing salaries for in-demand mid-level professionals to rise,” said Daniel Connors, Associate Director at Robert Walters.
Key trends in 2016
Over half of legal professionals said that the outcome of the Brexit vote will not impact their motivation to change roles in 2017.
“Despite uncertainty ahead of the EU referendum, confidence amongst accounting and finance professionals remained high with the majority anticipating both a pay increase and a bonus in 2017,” continued Connors.
In terms of bonuses, 89% of accounting and finance professionals received one in 2016 and a profound 78% expect to receive one in 2017. Of the employees who found a new role in 2016, only 11% received a counter offer which was a drop of 15% compared to the year prior.
One third of accounting and finance professionals are already looking for a new role with a further 23% plan to start looking for a new role in the next 3-12 months.
Over half of professionals say that their main motivation for finding a new role is for career progression and one fifth say a pay rise/change in compensation package is their second largest motivation.
“Salaries for junior to mid-level candidates are likely to see the strongest growth with employers embracing flexible working and other initiatives to improve work-life balance in order to secure top talent,” said Connors.
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