Accountants set to gain from doubling of bonus pot

UK accountants are expecting to share a £4 billion bonus pot this year, double the amount they received for the previous period, according to new research.

81% of accountants expect to receive a bonus this year

Recruiter Marks Sattin found that 81 per cent of accountants surveyed expect to receive a bonus, up from 55 per cent a year ago.

The average bonus expected is 22 per cent of salary, equivalent to £14,758. The recruitment company said this is the highest bonus in monetary terms for five years and compares to 16 per cent of salary or £10,733 received in the previous period.

The expected growth comes amid the improving economic outlook for the UK, and 84 per cent of accountants are optimistic about the economic outlook while 71 per cent expect to see their salaries increase over the next 12 months, Marks Sattin found.

Dave Way, managing director at the recruiter, said: “The emphasis over the past year has moved from economic recovery to growing business.”

He added that the trend now is to hire accountants “who are not only technically brilliant but have the range of soft skills required of a true business partner”.

The firm said the £4bn total was calculated based on the number of accountants practicing in the UK, according to the Financial Reporting Council.