Accountancy Salary Guide 2023
Demand for accounting professionals remains robust, with more roles being advertised than available candidates. This position will put upwards pressure on salaries throughout 2023.
Explore salaries for accountancy & finance roles in your region.
Role Category | Title | Region | Lower Quartile | Median | Upper Quartile | |
---|---|---|---|---|---|---|
CFO | CFO | National Average | £131,422 | £166,468 | £192,753 | |
CFO | CFO | London | £150,000 | £190,000 | £220,000 | |
CFO | CFO | SouthEast | £138,889 | £175,926 | £203,704 | |
CFO | CFO | SouthWest | £129,310 | £163,793 | £189,655 | |
CFO | CFO | EastEast | £133,929 | £169,643 | £196,429 | |
CFO | CFO | WestMidlands | £130,435 | £165,217 | £191,304 | |
CFO | CFO | EastMidlands | £130,435 | £165,217 | £191,304 | |
CFO | CFO | Yorkshire | £126,050 | £159,664 | £184,874 | |
CFO | CFO | NorthEast | £125,000 | £158,333 | £183,333 | |
CFO | CFO | NorthWest | £126,050 | £159,664 | £184,874 | |
CFO | CFO | Scotland | £131,579 | £166,667 | £192,982 | |
CFO | CFO | Wales | £123,967 | £157,025 | £181,818 | |
GroupFinancialDirector | Group Financial Director | National Average | £96,376 | £118,280 | £153,326 | |
GroupFinancialDirector | Group Financial Director | London | £110,000 | £135,000 | £175,000 | |
GroupFinancialDirector | Group Financial Director | SouthEast | £101,852 | £125,000 | £162,037 | |
GroupFinancialDirector | Group Financial Director | SouthWest | £94,828 | £116,379 | £150,862 | |
GroupFinancialDirector | Group Financial Director | EastEast | £98,214 | £120,536 | £156,250 | |
GroupFinancialDirector | Group Financial Director | WestMidlands | £95,652 | £117,391 | £152,174 | |
GroupFinancialDirector | Group Financial Director | EastMidlands | £95,652 | £117,391 | £152,174 | |
GroupFinancialDirector | Group Financial Director | Yorkshire | £92,437 | £113,445 | £147,059 | |
GroupFinancialDirector | Group Financial Director | NorthEast | £91,667 | £112,500 | £145,833 | |
GroupFinancialDirector | Group Financial Director | NorthWest | £92,437 | £113,445 | £147,059 | |
GroupFinancialDirector | Group Financial Director | Scotland | £96,491 | £118,421 | £153,509 | |
GroupFinancialDirector | Group Financial Director | Wales | £90,909 | £111,570 | £144,628 | |
GroupFinancialController | Group Financial Controller | National Average | £74,473 | £91,996 | £105,138 | |
GroupFinancialController | Group Financial Controller | London | £85,000 | £105,000 | £120,000 | |
GroupFinancialController | Group Financial Controller | SouthEast | £78,704 | £97,222 | £111,111 | |
GroupFinancialController | Group Financial Controller | SouthWest | £73,276 | £90,517 | £103,448 | |
GroupFinancialController | Group Financial Controller | EastEast | £75,893 | £93,750 | £107,143 | |
GroupFinancialController | Group Financial Controller | WestMidlands | £73,913 | £91,304 | £104,348 | |
GroupFinancialController | Group Financial Controller | EastMidlands | £73,913 | £91,304 | £104,348 | |
GroupFinancialController | Group Financial Controller | Yorkshire | £71,429 | £88,235 | £100,840 | |
GroupFinancialController | Group Financial Controller | NorthEast | £70,833 | £87,500 | £100,000 | |
GroupFinancialController | Group Financial Controller | NorthWest | £71,429 | £88,235 | £100,840 | |
GroupFinancialController | Group Financial Controller | Scotland | £74,561 | £92,105 | £105,263 | |
GroupFinancialController | Group Financial Controller | Wales | £70,248 | £86,777 | £99,174 | |
FinanceDirector | Finance Director | National Average | £78,853 | £96,376 | £113,899 | |
FinanceDirector | Finance Director | London | £90,000 | £110,000 | £130,000 | |
FinanceDirector | Finance Director | SouthEast | £83,333 | £101,852 | £120,370 | |
FinanceDirector | Finance Director | SouthWest | £77,586 | £94,828 | £112,069 | |
FinanceDirector | Finance Director | EastEast | £80,357 | £98,214 | £116,071 | |
FinanceDirector | Finance Director | WestMidlands | £78,261 | £95,652 | £113,043 | |
FinanceDirector | Finance Director | EastMidlands | £78,261 | £95,652 | £113,043 | |
FinanceDirector | Finance Director | Yorkshire | £75,630 | £92,437 | £109,244 | |
FinanceDirector | Finance Director | NorthEast | £75,000 | £91,667 | £108,333 | |
FinanceDirector | Finance Director | NorthWest | £75,630 | £92,437 | £109,244 | |
FinanceDirector | Finance Director | Scotland | £78,947 | £96,491 | £114,035 | |
FinanceDirector | Finance Director | Wales | £74,380 | £90,909 | £107,438 | |
FinancialControllerashdown | Financial Controller | National Average | £61,330 | £70,092 | £78,853 | |
FinancialControllerashdown | Financial Controller | London | £70,000 | £80,000 | £90,000 | |
FinancialControllerashdown | Financial Controller | SouthEast | £64,815 | £74,074 | £83,333 | |
FinancialControllerashdown | Financial Controller | SouthWest | £60,345 | £68,966 | £77,586 | |
FinancialControllerashdown | Financial Controller | EastEast | £62,500 | £71,429 | £80,357 | |
FinancialControllerashdown | Financial Controller | WestMidlands | £60,870 | £69,565 | £78,261 | |
FinancialControllerashdown | Financial Controller | EastMidlands | £60,870 | £69,565 | £78,261 | |
FinancialControllerashdown | Financial Controller | Yorkshire | £58,824 | £67,227 | £75,630 | |
FinancialControllerashdown | Financial Controller | NorthEast | £58,333 | £66,667 | £75,000 | |
FinancialControllerashdown | Financial Controller | NorthWest | £58,824 | £67,227 | £75,630 | |
FinancialControllerashdown | Financial Controller | Scotland | £61,404 | £70,175 | £78,947 | |
FinancialControllerashdown | Financial Controller | Wales | £57,851 | £66,116 | £74,380 | |
GroupAccountant | Group Accountant | National Average | £52,569 | £57,826 | £65,711 | |
GroupAccountant | Group Accountant | London | £60,000 | £66,000 | £75,000 | |
GroupAccountant | Group Accountant | SouthEast | £55,556 | £61,111 | £69,444 | |
GroupAccountant | Group Accountant | SouthWest | £51,724 | £56,897 | £64,655 | |
GroupAccountant | Group Accountant | EastEast | £53,571 | £58,929 | £66,964 | |
GroupAccountant | Group Accountant | WestMidlands | £52,174 | £57,391 | £65,217 | |
GroupAccountant | Group Accountant | EastMidlands | £52,174 | £57,391 | £65,217 | |
GroupAccountant | Group Accountant | Yorkshire | £50,420 | £55,462 | £63,025 | |
GroupAccountant | Group Accountant | NorthEast | £50,000 | £55,000 | £62,500 | |
GroupAccountant | Group Accountant | NorthWest | £50,420 | £55,462 | £63,025 | |
GroupAccountant | Group Accountant | Scotland | £52,632 | £57,895 | £65,789 | |
GroupAccountant | Group Accountant | Wales | £49,587 | £54,545 | £61,983 | |
FinanceManager | Finance Manager | National Average | £52,569 | £61,330 | £70,092 | |
FinanceManager | Finance Manager | London | £60,000 | £70,000 | £80,000 | |
FinanceManager | Finance Manager | SouthEast | £55,556 | £64,815 | £74,074 | |
FinanceManager | Finance Manager | SouthWest | £51,724 | £60,345 | £68,966 | |
FinanceManager | Finance Manager | EastEast | £53,571 | £62,500 | £71,429 | |
FinanceManager | Finance Manager | WestMidlands | £52,174 | £60,870 | £69,565 | |
FinanceManager | Finance Manager | EastMidlands | £52,174 | £60,870 | £69,565 | |
FinanceManager | Finance Manager | Yorkshire | £50,420 | £58,824 | £67,227 | |
FinanceManager | Finance Manager | NorthEast | £50,000 | £58,333 | £66,667 | |
FinanceManager | Finance Manager | NorthWest | £50,420 | £58,824 | £67,227 | |
FinanceManager | Finance Manager | Scotland | £52,632 | £61,404 | £70,175 | |
FinanceManager | Finance Manager | Wales | £49,587 | £57,851 | £66,116 | |
SeniorManagementAccountant | Senior Management Accountant | National Average | £48,188 | £52,569 | £56,950 | |
SeniorManagementAccountant | Senior Management Accountant | London | £60,000 | £65,000 | £70,000 | |
SeniorManagementAccountant | Senior Management Accountant | SouthEast | £50,926 | £55,556 | £60,185 | |
SeniorManagementAccountant | Senior Management Accountant | SouthWest | £47,414 | £51,724 | £56,034 | |
SeniorManagementAccountant | Senior Management Accountant | EastEast | £49,107 | £53,571 | £58,036 | |
SeniorManagementAccountant | Senior Management Accountant | WestMidlands | £47,826 | £52,174 | £56,522 | |
SeniorManagementAccountant | Senior Management Accountant | EastMidlands | £47,826 | £52,174 | £56,522 | |
SeniorManagementAccountant | Senior Management Accountant | Yorkshire | £46,218 | £50,420 | £54,622 | |
SeniorManagementAccountant | Senior Management Accountant | NorthEast | £45,833 | £50,000 | £54,167 | |
SeniorManagementAccountant | Senior Management Accountant | NorthWest | £46,218 | £50,420 | £54,622 | |
SeniorManagementAccountant | Senior Management Accountant | Scotland | £48,246 | £52,632 | £57,018 | |
SeniorManagementAccountant | Senior Management Accountant | Wales | £45,455 | £49,587 | £53,719 | |
ManagementAccountantashdown | Management Accountant | National Average | £39,427 | £43,807 | £48,188 | |
ManagementAccountantashdown | Management Accountant | London | £50,000 | £55,000 | £60,000 | |
ManagementAccountantashdown | Management Accountant | SouthEast | £41,667 | £46,296 | £50,926 | |
ManagementAccountantashdown | Management Accountant | SouthWest | £38,793 | £43,103 | £47,414 | |
ManagementAccountantashdown | Management Accountant | EastEast | £40,179 | £44,643 | £49,107 | |
ManagementAccountantashdown | Management Accountant | WestMidlands | £39,130 | £43,478 | £47,826 | |
ManagementAccountantashdown | Management Accountant | EastMidlands | £39,130 | £43,478 | £47,826 | |
ManagementAccountantashdown | Management Accountant | Yorkshire | £37,815 | £42,017 | £46,218 | |
ManagementAccountantashdown | Management Accountant | NorthEast | £37,500 | £41,667 | £45,833 | |
ManagementAccountantashdown | Management Accountant | NorthWest | £37,815 | £42,017 | £46,218 | |
ManagementAccountantashdown | Management Accountant | Scotland | £39,474 | £43,860 | £48,246 | |
ManagementAccountantashdown | Management Accountant | Wales | £37,190 | £41,322 | £45,455 | |
FinancialAccountantashdown | Financial Accountant | National Average | £36,798 | £42,055 | £48,188 | |
FinancialAccountantashdown | Financial Accountant | London | £42,000 | £48,000 | £55,000 | |
FinancialAccountantashdown | Financial Accountant | SouthEast | £38,889 | £44,444 | £50,926 | |
FinancialAccountantashdown | Financial Accountant | SouthWest | £36,207 | £41,379 | £47,414 | |
FinancialAccountantashdown | Financial Accountant | EastEast | £37,500 | £42,857 | £49,107 | |
FinancialAccountantashdown | Financial Accountant | WestMidlands | £36,522 | £41,739 | £47,826 | |
FinancialAccountantashdown | Financial Accountant | EastMidlands | £36,522 | £41,739 | £47,826 | |
FinancialAccountantashdown | Financial Accountant | Yorkshire | £35,294 | £40,336 | £46,218 | |
FinancialAccountantashdown | Financial Accountant | NorthEast | £35,000 | £40,000 | £45,833 | |
FinancialAccountantashdown | Financial Accountant | NorthWest | £35,294 | £40,336 | £46,218 | |
FinancialAccountantashdown | Financial Accountant | Scotland | £36,842 | £42,105 | £48,246 | |
FinancialAccountantashdown | Financial Accountant | Wales | £34,711 | £39,669 | £45,455 | |
PartQualifiedManagementAccountant | Part Qualified Management Accountant | National Average | £30,665 | £35,046 | £39,427 | |
PartQualifiedManagementAccountant | Part Qualified Management Accountant | London | £35,000 | £40,000 | £45,000 | |
PartQualifiedManagementAccountant | Part Qualified Management Accountant | SouthEast | £32,407 | £37,037 | £41,667 | |
PartQualifiedManagementAccountant | Part Qualified Management Accountant | SouthWest | £30,172 | £34,483 | £38,793 | |
PartQualifiedManagementAccountant | Part Qualified Management Accountant | EastEast | £31,250 | £35,714 | £40,179 | |
PartQualifiedManagementAccountant | Part Qualified Management Accountant | WestMidlands | £30,435 | £34,783 | £39,130 | |
PartQualifiedManagementAccountant | Part Qualified Management Accountant | EastMidlands | £30,435 | £34,783 | £39,130 | |
PartQualifiedManagementAccountant | Part Qualified Management Accountant | Yorkshire | £29,412 | £33,613 | £37,815 | |
PartQualifiedManagementAccountant | Part Qualified Management Accountant | NorthEast | £29,167 | £33,333 | £37,500 | |
PartQualifiedManagementAccountant | Part Qualified Management Accountant | NorthWest | £29,412 | £33,613 | £37,815 | |
PartQualifiedManagementAccountant | Part Qualified Management Accountant | Scotland | £30,702 | £35,088 | £39,474 | |
PartQualifiedManagementAccountant | Part Qualified Management Accountant | Wales | £28,926 | £33,058 | £37,190 | |
PartQualifiedFinancialAccountant | Part Qualified Financial Accountant | National Average | £30,665 | £35,046 | £39,427 | |
PartQualifiedFinancialAccountant | Part Qualified Financial Accountant | London | £35,000 | £40,000 | £45,000 | |
PartQualifiedFinancialAccountant | Part Qualified Financial Accountant | SouthEast | £32,407 | £37,037 | £41,667 | |
PartQualifiedFinancialAccountant | Part Qualified Financial Accountant | SouthWest | £30,172 | £34,483 | £38,793 | |
PartQualifiedFinancialAccountant | Part Qualified Financial Accountant | EastEast | £31,250 | £35,714 | £40,179 | |
PartQualifiedFinancialAccountant | Part Qualified Financial Accountant | WestMidlands | £30,435 | £34,783 | £39,130 | |
PartQualifiedFinancialAccountant | Part Qualified Financial Accountant | EastMidlands | £30,435 | £34,783 | £39,130 | |
PartQualifiedFinancialAccountant | Part Qualified Financial Accountant | Yorkshire | £29,412 | £33,613 | £37,815 | |
PartQualifiedFinancialAccountant | Part Qualified Financial Accountant | NorthEast | £29,167 | £33,333 | £37,500 | |
PartQualifiedFinancialAccountant | Part Qualified Financial Accountant | NorthWest | £29,412 | £33,613 | £37,815 | |
PartQualifiedFinancialAccountant | Part Qualified Financial Accountant | Scotland | £30,702 | £35,088 | £39,474 | |
PartQualifiedFinancialAccountant | Part Qualified Financial Accountant | Wales | £28,926 | £33,058 | £37,190 | |
Purchase/SalesLedger | Purchase/Sales Ledger | National Average | £20,151 | £25,408 | £28,913 | |
Purchase/SalesLedger | Purchase/Sales Ledger | London | £23,000 | £29,000 | £33,000 | |
Purchase/SalesLedger | Purchase/Sales Ledger | SouthEast | £21,296 | £26,852 | £30,556 | |
Purchase/SalesLedger | Purchase/Sales Ledger | SouthWest | £19,828 | £25,000 | £28,448 | |
Purchase/SalesLedger | Purchase/Sales Ledger | EastEast | £20,536 | £25,893 | £29,464 | |
Purchase/SalesLedger | Purchase/Sales Ledger | WestMidlands | £20,000 | £25,217 | £28,696 | |
Purchase/SalesLedger | Purchase/Sales Ledger | EastMidlands | £20,000 | £25,217 | £28,696 | |
Purchase/SalesLedger | Purchase/Sales Ledger | Yorkshire | £19,328 | £24,370 | £27,731 | |
Purchase/SalesLedger | Purchase/Sales Ledger | NorthEast | £19,167 | £24,167 | £27,500 | |
Purchase/SalesLedger | Purchase/Sales Ledger | NorthWest | £19,328 | £24,370 | £27,731 | |
Purchase/SalesLedger | Purchase/Sales Ledger | Scotland | £20,175 | £25,439 | £28,947 | |
Purchase/SalesLedger | Purchase/Sales Ledger | Wales | £19,008 | £23,967 | £27,273 | |
AccountsAssistant | Accounts Assistant | National Average | £21,904 | £26,284 | £30,665 | |
AccountsAssistant | Accounts Assistant | London | £25,000 | £30,000 | £35,000 | |
AccountsAssistant | Accounts Assistant | SouthEast | £23,148 | £27,778 | £32,407 | |
AccountsAssistant | Accounts Assistant | SouthWest | £21,552 | £25,862 | £30,172 | |
AccountsAssistant | Accounts Assistant | EastEast | £22,321 | £26,786 | £31,250 | |
AccountsAssistant | Accounts Assistant | WestMidlands | £21,739 | £26,087 | £30,435 | |
AccountsAssistant | Accounts Assistant | EastMidlands | £21,739 | £26,087 | £30,435 | |
AccountsAssistant | Accounts Assistant | Yorkshire | £21,008 | £25,210 | £29,412 | |
AccountsAssistant | Accounts Assistant | NorthEast | £20,833 | £25,000 | £29,167 | |
AccountsAssistant | Accounts Assistant | NorthWest | £21,008 | £25,210 | £29,412 | |
AccountsAssistant | Accounts Assistant | Scotland | £21,930 | £26,316 | £30,702 | |
AccountsAssistant | Accounts Assistant | Wales | £20,661 | £24,793 | £28,926 | |
CreditControlManager | Credit Control Manager | National Average | £35,046 | £45,560 | £56,950 | |
CreditControlManager | Credit Control Manager | London | £40,000 | £52,000 | £65,000 | |
CreditControlManager | Credit Control Manager | SouthEast | £37,037 | £48,148 | £60,185 | |
CreditControlManager | Credit Control Manager | SouthWest | £34,483 | £44,828 | £56,034 | |
CreditControlManager | Credit Control Manager | EastEast | £35,714 | £46,429 | £58,036 | |
CreditControlManager | Credit Control Manager | WestMidlands | £34,783 | £45,217 | £56,522 | |
CreditControlManager | Credit Control Manager | EastMidlands | £34,783 | £45,217 | £56,522 | |
CreditControlManager | Credit Control Manager | Yorkshire | £33,613 | £43,697 | £54,622 | |
CreditControlManager | Credit Control Manager | NorthEast | £33,333 | £43,333 | £54,167 | |
CreditControlManager | Credit Control Manager | NorthWest | £33,613 | £43,697 | £54,622 | |
CreditControlManager | Credit Control Manager | Scotland | £35,088 | £45,614 | £57,018 | |
CreditControlManager | Credit Control Manager | Wales | £33,058 | £42,975 | £53,719 | |
CreditController | Credit Controller | National Average | £26,284 | £30,665 | £35,046 | |
CreditController | Credit Controller | London | £30,000 | £35,000 | £40,000 | |
CreditController | Credit Controller | SouthEast | £27,778 | £32,407 | £37,037 | |
CreditController | Credit Controller | SouthWest | £25,862 | £30,172 | £34,483 | |
CreditController | Credit Controller | EastEast | £26,786 | £31,250 | £35,714 | |
CreditController | Credit Controller | WestMidlands | £26,087 | £30,435 | £34,783 | |
CreditController | Credit Controller | EastMidlands | £26,087 | £30,435 | £34,783 | |
CreditController | Credit Controller | Yorkshire | £25,210 | £29,412 | £33,613 | |
CreditController | Credit Controller | NorthEast | £25,000 | £29,167 | £33,333 | |
CreditController | Credit Controller | NorthWest | £25,210 | £29,412 | £33,613 | |
CreditController | Credit Controller | Scotland | £26,316 | £30,702 | £35,088 | |
CreditController | Credit Controller | Wales | £24,793 | £28,926 | £33,058 | |
PayrollManager | Payroll Manager | National Average | £43,807 | £48,188 | £52,569 | |
PayrollManager | Payroll Manager | London | £50,000 | £55,000 | £60,000 | |
PayrollManager | Payroll Manager | SouthEast | £46,296 | £50,926 | £55,556 | |
PayrollManager | Payroll Manager | SouthWest | £43,103 | £47,414 | £51,724 | |
PayrollManager | Payroll Manager | EastEast | £44,643 | £49,107 | £53,571 | |
PayrollManager | Payroll Manager | WestMidlands | £43,478 | £47,826 | £52,174 | |
PayrollManager | Payroll Manager | EastMidlands | £43,478 | £47,826 | £52,174 | |
PayrollManager | Payroll Manager | Yorkshire | £42,017 | £46,218 | £50,420 | |
PayrollManager | Payroll Manager | NorthEast | £41,667 | £45,833 | £50,000 | |
PayrollManager | Payroll Manager | NorthWest | £42,017 | £46,218 | £50,420 | |
PayrollManager | Payroll Manager | Scotland | £43,860 | £48,246 | £52,632 | |
PayrollManager | Payroll Manager | Wales | £41,322 | £45,455 | £49,587 | |
PayrollAssociate | Payroll Associate | National Average | £30,665 | £35,046 | £39,427 | |
PayrollAssociate | Payroll Associate | London | £35,000 | £40,000 | £45,000 | |
PayrollAssociate | Payroll Associate | SouthEast | £32,407 | £37,037 | £41,667 | |
PayrollAssociate | Payroll Associate | SouthWest | £30,172 | £34,483 | £38,793 | |
PayrollAssociate | Payroll Associate | EastEast | £31,250 | £35,714 | £40,179 | |
PayrollAssociate | Payroll Associate | WestMidlands | £30,435 | £34,783 | £39,130 | |
PayrollAssociate | Payroll Associate | EastMidlands | £30,435 | £34,783 | £39,130 | |
PayrollAssociate | Payroll Associate | Yorkshire | £29,412 | £33,613 | £37,815 | |
PayrollAssociate | Payroll Associate | NorthEast | £29,167 | £33,333 | £37,500 | |
PayrollAssociate | Payroll Associate | NorthWest | £29,412 | £33,613 | £37,815 | |
PayrollAssociate | Payroll Associate | Scotland | £30,702 | £35,088 | £39,474 | |
PayrollAssociate | Payroll Associate | Wales | £28,926 | £33,058 | £37,190 | |
PayrollAdministrator | Payroll Administrator | National Average | £26,284 | £29,351 | £30,665 | |
PayrollAdministrator | Payroll Administrator | London | £30,000 | £33,500 | £35,000 | |
PayrollAdministrator | Payroll Administrator | SouthEast | £27,778 | £31,019 | £32,407 | |
PayrollAdministrator | Payroll Administrator | SouthWest | £25,862 | £28,879 | £30,172 | |
PayrollAdministrator | Payroll Administrator | EastEast | £26,786 | £29,911 | £31,250 | |
PayrollAdministrator | Payroll Administrator | WestMidlands | £26,087 | £29,130 | £30,435 | |
PayrollAdministrator | Payroll Administrator | EastMidlands | £26,087 | £29,130 | £30,435 | |
PayrollAdministrator | Payroll Administrator | Yorkshire | £25,210 | £28,151 | £29,412 | |
PayrollAdministrator | Payroll Administrator | NorthEast | £25,000 | £27,917 | £29,167 | |
PayrollAdministrator | Payroll Administrator | NorthWest | £25,210 | £28,151 | £29,412 | |
PayrollAdministrator | Payroll Administrator | Scotland | £26,316 | £29,386 | £30,702 | |
PayrollAdministrator | Payroll Administrator | Wales | £24,793 | £27,686 | £28,926 |
Salary guidance
Salaries typically fall between the lower and upper quartiles depending on candidate availability, demand for those skills, level of experience, industry sector and the size of the business or organisation.
Key observations
Demand for accounting skills hit a plateau in July and has remained flat – albeit at an elevated level ever since. There is still a shortage of skills across all finance roles.
Demand for accountancy professionals remains robust with more roles being advertised than available candidates. This position will put upwards pressure on salaries throughout 2023 as inflation and the cost of living continue to climb.
According to the Financial Reporting Council (FRC), the accounting profession is seeing a slow decline in graduate numbers whilst simultaneously seeing a larger number of people retiring at an earlier stage. This will put further pressure on existing skill shortages and subsequently create an environment of above-inflation salary increases to meet demand.
Financial, analytical, and management accounting skills remain in high demand to support decision making in a rapidly changing economy. We anticipate tight budgets dampening salary increases during the next 12 months. As a result, attracting and retaining employees will remain one of the biggest challenges, balancing budgets with salary expectations during a cost-of-living crisis in 2023.
As in our other sectors, businesses are working hard to upskill within the accounts function, producing a number of benefits such as greater employee retention, engagement, productivity and greater collaboration within organisations.
Pressure to present financial data, which will enable faster decision making in a volatile economy, will put additional stress on finance professionals in the coming 12 months. We see the finance department building its role as a partner to other departments, and being seen as increasingly key to delivering business strategy in 2023.
The rise of AI may solve some of the skills shortages around analytical roles, but the speed of adoption and trust in these technologies remains a challenge to the industry.
Budget cuts will have a dampening effect on salaries during 2023.
Bespoke salary report
If you would like to find out more about how your salaries compare to others in the Accountancy market, we offer our clients bespoke individual salary reports for a precise salary assessment, based on industry, geography, competition, job role and company size.
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