Pay rises of ‘just’ 10% disappoint accountants

ACCOUNTANTS have been left “disappointed” by their pay increases over the past year – after receiving an average salary rise of “only” 10.4 per cent.

Bean-counters had been hoping for a 13.5 per cent rise during the past 12 months, but had to settle for an increase that was “just” seven times larger than the national average.

Bonuses in 2011 were 17 per cent, pushing the average total pay package up to £70,300, with basic salaries rising to £59,900 from £54,300.

Dave Way, managing director of Marks Sattin, the recruitment firm that compiled the figures, said: “Accountants are disappointed with the growth in their salaries this year but, in most industries, a 10 per cent increase would mean party hats and Champagne.

“It shows how good the prospects currently are for accountants that a raise far in excess of the national average is less than had they had hoped for.”

Accountants expect their pay to increase by 14.2 per cent next year.

If this prediction is correct then they will receive an average salary of £68,400.