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Salary survey: what are you worth?
Karen Young provides her insight into the newly released Hays UK Salary & Recruiting Trends 2017 guide.
The outcomes of the political events of 2016 are a long way from being fully realised, but the continued demand for talented PQs is a near certainty for the year ahead. There has perhaps never been a better time to be a PQ. Considerable demand for PQs from all sectors outstrips supply, giving employees the confidence to move roles and encouraging employers to increase salaries.
If you are one of the many PQs looking to move this year I recommend you become fully aware of the many options available to you. Arm yourself with an understanding of the different job roles, working environments and sectors available to you so you can target your job search effectively. You continue to tell us that career development is one of your top priorities when considering your next role. Though it is crucial employers focus on supporting employees with their development, the onus is also on you to make sure that you prioritise your own long-term development. When interviewing, make sure you enquire about opportunities for progression as this will demonstrate your keenness to learn and build a career with the company.
Findings from the Hays UK Salary & Recruiting Trends 2017 guide
Salaries for PQs increased by an average 2% in the past 12 months. This increase is higher than the 1.4% salary increase those working in accountancy and finance received overall.
21% of finance employers plan to increase salaries by 2.5% or above in the year ahead the intention to raise pay is unchanged post the EU referendum.
Over half (58%) of PQs are not satisfied with their salary.
Over two-thirds (68%) of PQs had not asked for a pay rise in the past year.
Following the EU referendum, 64% of employees working across accountancy and finance said they anticipate moving in the next 12 months, 46% in the next six months.
Over half (56%) of PQs rated their work-life balance as very good or good.
Nearly all (97%) PQs feel they have the skills necessary to their current role.
The top benefits for PQs when considering a new role are flexible working (67%), over 25 days annual leave (56%), and financial support for professional studies (55%).
Following the referendum only 7% of finance employers are anticipating a decrease in business activity.
Skill shortages continue in accountancy and finance 23% of employers felt their organisations did not have the talent needed to achieve their objectives.
Over two-fifths, (41%) of accountancy and finance employers expect to face applicants with unrealistic salary expectations this year.
The three most common benefits offered by employers in accountancy and finance are childcare vouchers (70%), an above statutory contributory pension (63%), and financial support for professional studies (61%).
About Hays UK Salary & Recruiting Trends 2017
The salary data has been compiled using information gathered during 2016 from the 96 Hays offices across the UK. It is based on job listings, job offers and candidate registrations. The recruiting trends and benefits data is based on the responses of over 450 part qualified accountants and around 1,600 finance employers. A separate pulse survey of over 200 finance employers and 200 part qualified accountants was carried out in September 2016, after the EU referendum. For further information visit www.hays.co.uk/salary-guide
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