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Management Accountant Salaries: UK Averages 2024

Explore the average range of a management accountant salary in the UK by location:

  • London: £35k - £80k
  • South East & East of England: £50k - £65k
  • Midlands: £40k - £62k
  • Merseyside: £40k - £55k
  • North: £45k - £60k
     

Management accounting salary trends

Management Accounting continues to be a sought-after role in the UK across all levels: assistant management accountants, chartered management accountants, senior management accountants etc.  

It is important to note that while the role is usually in demand, the level of demand can change depending on industry trends and market conditions. To stay ahead of the ever-changing market and competition, it is vital to keep your skills up to date and gain knowledge in areas such as technology, data analysis, and strategic thinking, as this is where you will find greater opportunities and the most management accountant jobs.

The average management accountant salary in the UK vary in each location, but you can expect salary ranges between £35,000 and £75,000 depending on the below factors. 

What factors influence the salary of a management accountant?

Experience

Chartered management accountants who have 3 years post-qualification experience (PQE) often command higher salaries due to their increased expertise and the knowledge they can bring to an organisation.

Qualifications

If a management accountant wants to further enhance earning potential, it is a great idea to pursue advanced qualifications, such as becoming a Chartered Management Accountant (CIMA) or Certified Public Accountant (CPA). Additionally, learning through workshops, seminars, and staying up to date with industry trends can also contribute to a higher salary.

A newly qualified management accountant can earn between £65,000 and £80,000 per annum (depending on industry and location).

Industry

Certain industries, such as Banking & Financial Services, are likely to have higher revenue streams, so they can offer competitive compensation packages to those with specialised skills. Commerce & Industry have broader salary ranges as it is more general and covers a wide range of businesses outside the financial sector.

A management accountant working in Banking & Financial Services can earn up to £80,000, however those working in Commerce & Industry can earn 21% lower at £66,000.

Company size

Larger businesses tend to have more complex financial operations and higher budgets, which in turn can provide competitive salaries for their employees.

A qualified management accountant working in Commerce & Industry in a medium enterprise (with a headcount of 50 – 250) can offer a salary range of £60,000 – £66,000, whereas a large enterprise (with a headcount of 250+) can offer a salary range of £60,000 – £70,000, a 6% difference.

Location

Salaries are higher in major UK cities areas where the cost of living is higher, and the demand is greater. London tends to have higher salaries, for example a management accountant working in London can earn between £35,000 and £80,000 and those working in the North can earn between £45,000 and £60,000, a 25% difference.
 

FAQs: Management Accounting

Professionals usually receive a range of benefits in addition to their base salary. This varies depending on the company, industry and role, but we have listed some of the common perks:

·         Bonuses and Incentives

·         Healthcare and Insurance

·         Retirement Plans

·         Flexible Work Arrangements

·         Professional Development

·         Qualification Reimbursement

·         Paid Time Off (PTO)

·         Travel Benefits

·         Company Discounts

Yes, due to different compensation structures, management accountants are often paid differently to the usual full-time employee. Here we have listed some factors that influence how freelance management accountants are paid differently:

·         Hourly or Project-Based Rates

·         Flat Fees

·         Value-Based Pricing:

·         Retainer Agreements

·         Geographic Considerations

·         Industry Specialisation

·         Market Demand

·         Experience and Reputation

·         Remote Work Flexibility

The Robert Walters Salary Survey is a great tool to research management accountant salaries in the UK and includes:

Enhanced data - salary ranges and averages across large, medium and small enterprises

Hiring Trends - See what hiring trends look like for your industry in 2024

Talent Hotspots - Learn what skill sets will be in demand for the year ahead for each sector

Expectations - Explore how to attract and retain the best talent with the right offerings

Request your free copy today.

  




 
Salary Survey 2024
Developed in partnership with a market leading data provider, we assessed over 100,000 jobs posted over the last 12-months, to provide you accurate data points on UK salary ranges, averages and expectations for permanent, contract and interim positions across the UK.

Hiring Manager? Benchmark your teams salaries

If you’re growing your team or simply need to retain the talent you have, the Salary Survey gives you the insights you need to have the right team in place to keep your business moving forward.

Candidate? Find out your salary with an individual salary guide

Whether you’re looking for a new role or preparing for your end-of-year appraisal, the Salary Survey will arm you with everything you need to know to get what you deserve.

                  

 

Bespoke salary benchmarking

Using a combination of our own data, publicly available insights and our recruitment experts, we build bespoke overviews of the salaries and benefits required to attract talent.