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2015 Accounting & finance salary trends in London
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2015 Accounting & finance salary trends in London
22 de Dec de 2014•0 recomendaciones•4,775 vistas
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Economía y finanzas
This presentation uncovers some key findings from the Robert Half 2015 Salary Guide including current hiring trends and the latest accounting and finance salaries in London. Accounting and finance salaries in London are trending upwards and CFOs are planning to increase the number of staff to deliver sound financial management and strategic, commercial insight. Skills shortages are acute within the finance and accounting sector with finance director, financial management and financial business partnering jobs earning significant salary increases in 2015. Visit roberthalf.co.uk/salary-centre for more information on salaries in the UK.
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2015 Accounting & finance salary trends in London
- © Robert Half. An Equal Opportunity Employer. 2015 London Salary & Hiring Trends The latest information for accounting & finance professionals
- Hiring trends in accounting & finance Salary & Hiring Trends: London2 Companies expanding existing teams and investing in new initiatives Wanted: finance professionals skilled in budgeting, forecasting, margin analysis and cost efficiency 93% of London CFOs are bullish about the British economy and optimistic about business growth
- Shortages are a BIG issue Salary & Hiring Trends: London3 Recruiting finance professionals is challenging 85% of London CFOs are experiencing skills shortages in accounting & finance
- Shortages are a BIG issue Salary & Hiring Trends: London4 The top 3 reasons cited for the skills shortage 30% General demand outweighing supply 40% Lack of niche, technical experts 23% Lack of commercial business skills
- Finance professionals need to be multi-talented Salary & Hiring Trends: London5 QUA LIFICATIONS PROBL EM SOLVING COMM ERCIAL AWARE NESS ANALYTICAL SKILLS COMMUNICATI ON SKILLS
- • Financial/business analysts • Management accountants • Commercial/finance business partners • Finance managers, finance controllers • Newly qualified accountants Salary & Hiring Trends: London6 Permanent accounting & finance jobs in demand
- Temporary and interim accounting & finance jobs in demand Salary & Hiring Trends: London7 • Systems and transformation finance experts • Business/management information specialists • Financial planning and analysis professionals • Accounts assistants, credit controllers and purchase ledger clerks
- UK accounting & finance salaries Salary & Hiring Trends: London8 63% of London CFOs plan to increase salaries in 2015 (average increase = 7%) For a complete list of London salaries, visit www.roberthalf.co.uk/salary-calculator Select salary increases in accounting & finance Job title Company size 2014 London 2015 London % change Commercial Financial Controller SME £87,000 - £101,600 £90,300 - £106,100 4.1% Large £90,900 - £108,700 £96,400 - £111,600 4.2% Finance Director SME £78,400 - £127,000 £80,300 - £131,900 3.3% Large £90,300 - £159,300 £97,700 - £161,900 4.0% Compliance Manager SME £68,000 - £80,300 £70,600 - £82,200 3.0% Large £75,500 - £83,900 £76,400 - £88,400 3.4%
- UK accounting & finance salaries Salary & Hiring Trends: London9 Select salary increases in accounting & finance (continued) Job title Company size 2014 London 2015 London % change Financial Planning & Analysis Manager SME £78,400 - £86,100 £79,700 - £88,000 2.0% Large £80,300 - £89,700 £81,900 - £91,600 2.1% Financial Business Partner SME £54,800 - £67,700 £58,400 - £69,300 4.2% Large £57,700 - £70,000 £61,000 - £71,900 4.0% Assistant Accountant SME £22,300 - £34,800 £22,900 - £35,500 2.3% Large £28,700 - £40,300 £29,700 - £41,300 2.8% Credit Controller SME £22,300 - £31,600 £21,600 - £33,200 1.8% Large £24,500 - £36,400 £25,500 - £36,800 2.1% Purchase Ledger Clerk SME £20,000 - £31,000 £21,300 - £31,600 3.8% Large £26,400 - £34,200 £26,800 - £34,800 1.6% For a complete list of London salaries, visit roberthalf.co.uk/salary-calculator
- Bonuses & benefits Salary & Hiring Trends: London10 Opinions are divided when it comes to remuneration strategies
- Bonuses & benefits Salary & Hiring Trends: London11 6 out of 10 London CFOs are offering sign-on bonuses to attract talent
- Salary & Hiring Trends: London12 For more accounting and finance salary and hiring trends, download our full report at roberthalf.co.uk/salary-centre
Notas del editor
- Hello. I’m [NAME, TITLE. BRIEFLY EXPLAIN WHAT YOU DO]. I’m pleased to join you today from [DIVISION]. I’ll be talking to you about hiring and remuneration trends in accounting and finance. Our findings are based on research we conducted for the 2015 Robert Half Salary Guide, one of the many value-added resources we make available to businesses and our candidates across the [LOCAL] and UK marketplace. Our new guide includes starting salary information for more than 100 finance and accounting positions.
- Now let’s look at finance and accounting specifically. Companies have loosened the purse strings and are again turning to finance to help provide strategic direction as part of their growth plans. They are expanding existing teams as well as investing in new initiatives, including systems implementations and commercial/business partnering, while staying focused on their risk and compliance activities. Finance continues its journey as a strategic partner to the business, shedding its reputation as a cost centre to one where it partners with multiple stakeholders and departments to deliver efficiency and commercial value. Previously stalled investment into systems upgrades has been given the go-ahead, with many businesses moving to SAP or Oracle and looking for finance staff to manage conversion projects.
- According to finance directors, specific areas where demand outweighs supply include business/financial analysis, general accounting and financial management/control. Companies of all sizes are increasing their permanent finance headcount. Nearly half (45%) plan to create new accounting jobs and another 53% are replacing departing team members. Notably, 42% of SMEs are adding to their finance and accounting departments. Retention is a major worry for FDs/CFOs: 90% are concerned about losing top financial performers. Career advancement opportunities are being stepped up and remuneration reviewed as part of efforts to hold on to talented staff.
- Echoing the findings of our Finance with Foresight report, where we looked at how the finance team is using data analytics to support strategic decision making, finance leaders want their teams to extract more insights from financial data to improve business process and efficiency as well as to drive corporate strategy. The expectation for finance professionals to exhibit strong communication and analytical skills, problem solving and business savvy has not, however, come at the expense of sound technical competency. Education is key, with most businesses prioritising the recruitment of qualified accountants (ACA, ACCA, CIMA). It has become harder for non-qualified professionals to be shortlisted for roles. Corporate governance remains a priority for businesses, and finance leaders are given the arduous task of balancing business growth opportunities with mitigating risk. Many medium-sized and large firms are bringing in integrated governance, risk and compliance (GRC) teams, centralising what were once often stand-alone functions into one cohesive unit. To manage governance initiatives, many businesses are turning to senior-level interim professionals to bridge the skills and workload gaps, often setting up programmes and transferring knowledge and projects to permanent teams. Skills shortages are acute, with many businesses hiring interim specialists in treasury and IT audit, compliance and regulatory development as well as for the ongoing maintenance of risk and control frameworks.
- Looking at positions in demand, [read permanent list from the screen]. Commercial and finance business partners were the number one role we placed in 2014 and we’ve seen the role expand, from what was a job that typically commanded a salary between £25-45K, to one that extends to more senior professionals, with commercial finance controllers and managers Looking at interim positions, this echoes what we’ve been discussing about companies investing in new initiatives, including business transformation and systems upgrades. On the temporary front, companies are dealing with high volumes of work and are looking for resource to help manage daily accounting tasks. In many cases they are bringing in temporary professionals to manage some of the junior work, allowing permanent teams to focus on more strategic and career-building tasks. This has also proven a great retention tool for permanent staff.
- Let’s take a look at some specific salaries in our guide. These are based on the average starting salaries of the roles we’ve placed in 2014, plus an extrapolation of trends in 2015. Bonuses and other forms of remuneration are not taken into account. To view more than a 100 finance and accounting roles (as well as positions in financial services, technology and office support), please download or request a copy of our salary guide. [NOTE TO SPEAKER: CALCULATE THE SALARIES WITH YOUR REGIONAL VARIANCE BEFORE THE EVENT TO PROVIDE LOCAL NUMBERS] Regional variance: Scotland: 98.4% North East England: 90.0% North West England: 92.9% Yorkshire: 91.9% East Midlands: 91.8% West Midlands: 92.8% East of England: 97.9% London: 129.0% South East England: 106% South West England: 92.3% Wales: 89.5%
- Businesses are divided on their remuneration strategies, with many recognising that increased levels are required to attract and retain the requisite talent and others slower to react to changing market conditions and the resulting talent shortage. Large firms often rely on their brands, leaving small and medium-sized companies to procure top talent by providing attractive benefits and working environments as well as exposure to a wide array of tasks. This is definitely an attractant, particularly for partly and recently qualified accountants who are looking to build on their skills and experiences by getting involved in a variety of projects. Bonus schemes are becoming more widely available with more non-managerial employees having access to company and personal performance compensation. The most commonly offered reward and benefits to attract and retain staff include pension contribution, flexible working hours or telecommunication and subsidised training/education. Many businesses are offering retention bonuses to try to secure temporary and interim professionals through the course of a project.
- It’s been a pleasure talking to you today. Thank you very much for listening. [OPPORTUNITY TO POINT PEOPLE IN THE DIRECTION OF THE FULL REPORT, IF THEY DON’T ALREADY HAVE A COPY, AND ANY OTHER RELEVANT FURTHER INFORMATION.] Finally, I’m happy to take any questions.
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