Finance Professionals: are you due a pay rise?
According to research by GAAP Web conducted in their 2022 Audience Insight Report, 58% of the 1,400+ finance professionals surveyed have received a salary increase.
This year has seen a period of recovery within the accountancy profession, with pandemic-related cutbacks to salaries and bonuses previously reported having been restored. Could you be due a pay rise? According to research by GAAP Web’s 2022 Audience Insight Report, 58% of the 1,400+ finance professionals surveyed have received a salary increase, up from just 36% in 2021.
Employers have been keen to retain employees and repay them for their hard work and resilience demonstrated during the challenging period of change experienced during the pandemic. Increased salaries were present across a multitude of job titles, including many junior finance professionals, with 73% of Accountants Payable and 69% of Assistant Accountants receiving an increase. The average Accounting Assistant salary increased by 8% and finance manager salaries increased by 6% on average. The two most senior finance roles averaged at six figures, with the average Finance Director salary reaching £104,422, following a 10% year-on-year increase.
Sectors such as FinTech and Consumer Products/ FMCG were reported to be amongst the highest paying industries. confidence in the current state of the market remains strong, as little as 9% of respondents indicated that they do not feel secure in their current role. Despite this, most people have experienced some form of organisational change, as 79% of professionals reported that their team structure had changed in some way.
The market remains strong and full of opportunities, are you a candidate looking for your next move? At T2M, we recruit for a variety of finance and accounting roles – check out our vacancies!
If you’re a business looking to find the perfect employees for your organisation, T2M are always happy to help! Contact us to arrange a discussion about your recruitment needs!