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Demand for PQs just keeps growing

Some 50% of PQs think they will be moving jobs in the next 12 months.

January 2016

Demand for part qualified accountants looks set to grow unabated in 2016, according to the latest Hays salary and trends survey.
A combination of competition for high-flying PQs and an increased appetite for hiring is also adding pressure on salaries and other benefits, as employers try to hold on to their top talent.
Karen Young, Director of Hays Accountancy & Finance, revealed that despite receiving higher salary increases than their colleagues in other finance roles, some 55% of PQs are not satisfied with their pay packets. Despite this, some 66% of PQs have not asked for a pay rise. Young stressed that asking for more money can feel awkward, but it doesn’t need to be. You need to present a strong business case to your employer to show that you have added value to the organisation and deserve a pay rise.
The Hays survey reveals that the average salary hike for PQs last year was 2%. ACCA PQs will be pleased to hear that their average salary has risen above the average! The average UK salary for an ACCA PQ in the 2016 guide is £26,167, up 3% on 2015.
CIMA PQs were paid the highest average salary (£26,917), a 2% change year-on-year. Both CIPFA and ACA salaries for PQs rose by just 1%, with CIPFAs earning £24,029 and ACAs taking home £23,965.
Employers may have to work harder in 2016. Some 50% of part qualifieds say they anticipate moving jobs within the next 12 months. One reason for this may be the fact that 46% of part qualifieds do not feel there is scope for career development within their current organisation.
What PQs want from the ideal employer is also changing. The top benefit PQs consider when looking for a new role is flexible working (64%), more than 25 days holiday (57%) and financial support for studies (56%).
All said and done, PQs seem fairly happy with their lot. Some 58% of those surveyed rated their work-life balance as ‘very good’ or ‘good’.

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