Accountancy Salary Guide 2023

Accountancy and Finance salary data and insights

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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.

Lower quartile
The band under which 25% of salaries are paid. The entry point for the job role
Median
The midpoint salary for the job role
Upper quartile
The band above which 25% of salaries are paid. For experienced professionals operating at expert level.

Key observations

The accountancy market in 2023 has been marked by a significant decline in business confidence, primarily due to inflation. This has had a profound impact on business growth, resulting in a cautious approach towards hiring and salary negotiations. Businesses are tightening their belts, with financial well-being initiatives being dropped and salary raises depressed compared to 2022.

Key points
  • Demand for candidates has fallen slightly, although there are still shortages in key areas such as audit and analytical skills.
  • The average salary increase across accounting roles in 2023 is 7%, rising to 10% for in-demand roles such as audit.
  • Accountancy employees want more training in AI to help them use the technologies more effectively.

Falling demand

During 2022 the demand for skilled accountants outpaced the available pool of candidates. However, in 2023 demand has fallen slightly, and candidate availability has improved. As a result, salary growth has fallen below inflation.

While there are still skill shortages in various qualified accountancy roles such as audit and senior finance, there are fewer shortages than there were in 2022. Core skills such as analytical and management accounting skills remain in high demand.

The average salary increase across accounting roles is 7%. Audit has seen an increase of 10% and is one of the most highly sought after skills.

Flexible working

Our survey of UK employers has shown flexible working to be widely accepted within the accountancy profession, with all respondents either maintaining or further improving their flexible working arrangements.

Tech transformation

The accounting industry is undergoing a transformation driven by technology, which is disrupting traditional accounting models. The integration of artificial intelligence (AI), automation, and advanced analytics is reshaping the way accountants perform their roles. This shift towards technological advancements requires accountants to adapt, upskill, and embrace new technologies to remain competitive in the evolving landscape.

A recent report by the Ashdown Group on AI adoption revealed that senior finance professionals feel broadly positive about AI and the opportunities it will bring. However, it also highlighted a significant knowledge gap, lack of understanding, and inadequate training as key areas for development among finance leaders. There is a growing need for finance professionals to invest more time in developing knowledge around emerging technologies and future planning.

January 2023

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.

As businesses look to quantify the value of business functions and spending, accounting roles will remain in high demand throughout 2023.

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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