- Average accountants’ salary up five per cent from £60,788 to £64,022
- Average bonus of £11,012 exceeds the £9,603 expected by accountants
- Total bonus pot now £3.4bn compared with £3.1bn in 2011
ACCOUNTANTS in Peterborough have seen pay rises of seven per cent over the past year, assuming they have kept pace with the national average.
Salary growth was five per cent, from £60,788 in 2011/12 to £64,022 in 2012/13.
In addition to this, the average accountants’ bonus was £11,012, exceeding their own pre-bonus season expectations by £1,409. Accountants on average expected a bonus of £9,603, according to the 2013 Market Report from specialist accountancy and finance recruiter, Marks Sattin.
When questioned in November 2012, accountants expected 15 per cent of salary as a bonus. However the actual average is substantially higher at 17.2 per cent of salary. This also represents a marginal rise on the 16.9 per cent seen the previous year.
Satisfaction with bonus levels rose from 65 per cent in 2011/12 to 70 per cent in 2012/13.
Dave Way, Managing Director of Marks Sattin said, “These figures are a huge boost for accountants and offer proof of the resilience of accountancy as a profession. In tough financial circumstances, companies have a stronger focus on their purse strings. Obviously accountants aren’t immune from the gloomy economic news, hence their understated bonus expectations, but the news is actually very good for them – these figures represent the third year in a row of solid, above inflation, pay growth.”
Total Accountants’ Remuneration (including salaries and bonuses) 2011-2013
Along with higher average bonuses (£11,012 compared with £10,400 in 2011), a higher proportion of accountants received a bonus in 2012/13 – up to 47 per cent from 45 per cent. This means the total accountancy bonus pot has swelled from £3.1bn in 2011/12 to £3.4bn in 2012/13.
The percentage of accountants saying they are confident about their company’s economic prospects has risen one point over the past year from 19 per cent to 20 per cent, while the proportion saying they are not confident has fallen from 27 per cent to 23 per cent.