Finding the Right Job

Employment Trends and Salaries

With the banking and financial sectors under scrutiny and the country feeling the effects of the ‘credit crunch’, most accountancy practices have slowed their recruitment drives.

Whilst the large accounting firms have frozen recruitment in most sectors, they are recruiting actively into corporate recovery and insolvency.

Small to medium-sized firms are still recruiting in smaller volumes, particularly if they manage to win some work off a larger firm by offering a cheaper service.

Accounting firms are increasingly looking at more creative solutions to source candidates and retain candidates.

Many additional factors dictate the actual salary paid – size of company, sector, the role itself, merit payments, staff responsibility, etc.

Benefits
Benefits vary greatly across firms. The ‘Big Four’ accounting firms offer a flexible package, which can be adjusted to suit the needs of the individual. These policies usually take the form of a ‘benefits fund’ which is either paid in cash on top of salary or can be used to purchase additional benefits. Benefits include extra holiday, private health care, retail vouchers, dental care, differing levels of life insurance and travel insurance.

The mid-tier firms tend to offer a less flexible package, although there is sometimes the opportunity to buy a limited number of extra days of holiday. Smaller firms have limited benefits.

The usual benefits on offer below manager grade for those who are studying or have studied ACA are:

• holiday 20–23 days
• pension
• life assurance
• private healthcare
• death in service
• study support
• no overtime.

A car allowance of approximately £5,000 will be available on promotion to manager grade.

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