Accountancy Finance Professionals

2018/19 Accountancy and

Finance Salary Review Northwest, Lancashire and Yorkshire

The Trends Impacting On The Figures

Salaries are predicted to increase across the finance and accounting industry in the coming year. Not only are base salaries being looked at, but many companies are thinking about their overall remuneration packages to make roles more attractive for skilled candidates. This includes looking at benefits packages that are personalised to their workforce. In fact working conditions and benefits packages are now being used more than ever in the war for talent. But what is driving this growth:

Due to the unrest that has been caused by the issues raised by Brexit and the effect that it is likely to have on the UK economy, adaptability has been brought to companies’ attention. Because technology has advanced at such a rate, it seems that having a flexible recruitment model is the best way to approach the task of hiring for some companies.

These models can help organisations to fill employment gaps with individuals who have key, specialist talents across different departments. There has been a rise in temporary employees with the specialist skills companies are looking for, giving them the chance to find exactly the right talent to fit. The gig economy also has an impact on this, as more people than ever are searching for the opportunity for flexible employment.

The challenge is that this can often feel chaotic and the recruitment strategies needed must be specific. A recruitment partner with an in-depth knowledge is therefore essential.

It is key that companies make the effort to invest in the skills of their employees. Companies should take the time to help their people develop their skills from within the roles they currently hold, as this is likely to increase their job satisfaction, and make them more likely to want to remain. Scotland are achieving this aim the best, with 39% of employees claiming to gain new knowledge on a regular basis. London’s statistic was 29% with Wales at just 19%. The group who claimed to be learning the most at work were those between 18-34. This has the added dimension of being extremely attractive to applicants.

After the outcome of the Brexit referendum, most companies are trying to improve their growth within Britain. A fifth of companies are thinking about relocating offshore bases to the UK as a result. This is more commonly known as near-shoring.

More than half of businesses are feeling the strain of the skills shortage, where the need for skills is greater than individuals able to supply those skills. Many businesses are already beginning to plan their hiring strategies for the Brexit transition phase and looking at how they can partner over the long term with recruiters.

1. Flexible Workforce

2. Skills Investment

3. Economic Outlook

One issue is the length of time that it takes to hire in the UK. Companies are claiming that when they are hiring, their process is often so long that candidates are losing interest and seeking opportunities elsewhere. Over half of HR directors state that they have lost a candidate who was suitable for their role based on lengthy hiring process. Amongst the reasons for this are a lack of suitable candidates, number of applicants, and too many rounds of interviews. Reference checking has been found to be the lengthiest part of the recruitment process. Those companies who utilise a recruitment consultancy can often reduce these issues and therefore speed up hiring process.

In the world of accounting and finance, there has been a shift in focus from thinking about efficiencies alone to thinking about the entire productivity of the finance function. Companies are choosing to invest in automation in response to the need to improve current systems to meet increasing demands.

The need to find skilled employees is one main focus during this shift. Many companies plan to increase their headcount overall, and managers will try to hire individuals with skills in particular software or systems to enable them to fit with companies’ plans for automation.

A higher number of companies are choosing to hire newly qualified accountants, taking a view of what would benefit the company in the long term. IT training is being heavily invested in, along with highlighting the analytical skills of employees. This is with the aim to allow new staff to support the vision for automation.

There are many challenges facing businesses in the near future. Using technology in enterprise resource planning is a key focus, and change programmes bring with them a demand for trained, skilled professionals.

Because there is a shortage of skilled employees in this sector, interim professionals bring the answer to some extent – as companies can make the most of the skills they offer when needed. This also gives companies the chance to improve the skills of their long-term employees to allow them to meet the demands of the digital shift. Research shows that 47% of companies consider it likely that they will use interim professionals to help meet targets and demands over the coming months. It is thought that medium-sized businesses are most likely to use this method.

4. The Hiring Process

5. Current Hiring Climate

6. Utilising New Talent

A Note On Interims…

Thank you for taking the time to download our salary survey. The figures for this year’s salary survey were derived through a range of research and quantitative based techniques.

These include:

A review of the placements made by RK in the past 6 months

In total, salaries of over 5000

people were considered

It has also been interesting to see the importance of workplace benefits and conditions, and the role this plays in the recruitment of quality staff. Finally, the recent focus of the ‘me too’ campaign and other similar drives has put salaries of all employees under the microscope. Whilst the gender pay gap in finance at the junior level does not appear to exist, at the senior end our survey showed men on average earn 15% more than females. Although it should be noted that this is not necessarily in comparable jobs etc. However, organisations need to know that the salaries they are paying are fair market rates, and this salary survey assists in that planning. The ranges given in this survey are intended to be a guide only. Local factors, such as industry density, demographics and the local economic environment are all important factors. We are also proud to offer a free bespoke salary benchmark service (without obligation). This will take into consideration the specifics of a vacancy, the size of the organisation and team, the local economy and a competitor analysis. This is undertaken independently by our senior management team with extensive market knowledge. We look forward to working with you in the coming year.

Helen Francis

Operations Director

• Current salaries and rates of those candidates registering for our services

• Local published vacancies

• Market knowledge of our consultants

• An in-depth survey conducted amongst clients and candidates on ourdatabase

This year, the Accountancy Industry has encountered fast-paced change. The spectra of Brexit has hung over the industry and all the organisations we work with. This will continue to be a theme over the coming months and has played a part in the salary growth we areseeing. We too are assessing how we help our clients meet the challenges they face. The rapid adoption of technology by Candidates means that to deliver for our Clients we need to put them in the position to be able to react quickly to the market. Another key focus is on thevalue of interim and temporary workers as the nature of work continues to evolve.

About the RK Group

RK Accountancy and RK Finance Professionals is an industry leading accountancy consultancy specialising in financial recruitment. Operating across the North we have a regional branch network based across (Leeds, Manchester and Preston).

Devoted to our craft we have built a reputation for delivering a first class accountancy recruitment service, with an impressive reach and access to an increasingly global and mobile talent pool.

We work across multiple sectors, placing accountancy and finance professionals. With our services, we remain honest and transparent. We really do take the extra steps to match the most talented individuals with the companies most suited for their talents.

With a pursuit for long-term development we have built solid networks with various organisations, clients, candidates and professional bodies in local regions across our two distinct but combined brands.

Getting to know your structure, background, future plans and culture, enables our Consultant to become your recruitment partner. Once we clearly understand the finer detail of precisely what you are looking for, we’ll initiate our search for the people we know will be most suited to the role and your company. In order to shortlist we take into account the requirements of the job profile and importantly the long term fit of each person. Our methods are tailored to ensure we provide carefully selected candidates.

We operate three distinct disciplines:

1) Commerce and Industry / Private Sector

2) Public Sector and Not-For-Profit

3) Accountancy Practice and Professional Advisory Sector

RK Accountancy: • Specialist in the recruitment of transactional staff up to senior level

• Permanent, temporary and contract recruitment

RK Finance Professionals: • Part-qualified & Qualified accountants

• Mid to senior level executive appointments

• Permanent, interim and contract recruitment

Accountancy and Finance Salary Guide 2018/19

Transactional Level

Manchester Lancashire, East Lancs

and Cumbria Yorkshire

Position min max min max min max

£ £ £ £ £ £

Assistant Accountant (none studier) 23000 26000 19000 24000 18000 28000

Assistant Accountant (CIMA/ACCA/ ACA studier) 23000 29000 22000 29000 18000 29000

Accounts Assistant (none studier) 19000 23000 18000 21000 16000 22000

Accounts Assistant (AAT studier) 22000 24000 18000 23000 18000 22000

Purchase Ledger Manager 32000 50000 25000 45000 28000 40000

Purchase Ledger Supervisor 28000 32000 22000 28000 23000 30000

Purchase Ledger Clerk 20000 24000 18000 21000 18000 22000

Credit Control Manager 32000 50000 30000 48000 35000 55000

Credit Control Supervisor 28000 32000 23000 28000 25000 34000

Credit Controller 22000 26000 18000 23000 18000 25000

Payroll Manager 32000 50000 28000 45000 30000 55000

Payroll Supervisor 28000 32000 25000 30000 24000 30000

Payroll Officer/ Assistant 20000 23000 18000 25000 19000 25000

Payroll Clerk/ Junior 18000 21000 18000 21000 20000 22000

Sales Ledger Clerk 19000 23000 18000 21000 18000 21000

Accounts Junior 16000 18000 16000 18000 15000 19000

min max min max min max

Qualified and Senior Appointments

Manchester Lancashire, East Lancs

and Cumbria Yorkshire

Position

£ £ £ £ £ £

Finance Director

Financial Controller

Finance Manager

Commercial Finance Manager

Management Accountant

Financial Accountant

Financial Analyst

Commercial Accountant/ Business Partner

FP+A Accountant

FP+A Manager

Group Accountant

Project Accountant

Newly Qualified Accountant

65000

133000

60000

92000

60000

93000

45000

78000

45000

66000

40000

68000

35000

63000

36000

49000

28000

43000

50000

68000

48000

62000

48000

63000

35000

58000

34000

48000

30000

48000

35000

63000

35000

55000

35000

48000

38000

55000

34000

48000

29000

48000

38000

58000

36000

56000

36000

55000

38000

58000

36000

52000

36000

55000

50000

68000

50000

66000

48000

63000

40000

63000

38000

50000

37000

48000

38000

63000

36000

52000

38000

53000

38000

45000

34000

45000

33000

41000

min max min max min max

Public Practice and Advisory

Manchester Lancashire, East Lancs and

Cumbria Yorkshire

Position

£ £ £ £ £ £

Manager

Senior

Semi Senior

Assistant Accountant

Trainee Accountant

Audit Department

Audit Manager

Senior Audit

Semi Senior Audit

Associate Auditor

Tax Department

Tax Manager

Tax Senior

Tax Specialist

Tax Associate

Leadership

Partner

Director

Associate Director

37000 45000 36000 44000 37000 45000

30000 35000 28000 34000 30000 35000

20000 25000 20000 25000 20000 25000

17000 20000 17000 20000 17000 20000

15000 18000 15000 18000 15000 18000

45000 65000 42000 60000 45000 65000

35000 42000 32000 40000 35000 42000

22000 30000 20000 28000 22000 30000

17000 20000 17000 19000 17000 20000

43000 65000 42000 60000 43000 65000

35000 42000 32000 40000 35000 42000

26000 32000 24000 30000 26000 32000

21000 26000 19000 25000 21000 26000

75000 110000 70000 100000 75000 110000

50000 65000 48000 63000 50000 65000

45000 60000 42000 58000 45000 60000

Public Sector and Not-For-Profit

Job Title

Transactional

Capital/Investment

Accountant

Repairs Accountant

Asset Accountant

Rent & Service Charge Officer

Payroll Supervisor Payroller

Credit Controller

Purchase Ledger Clerk

Finance Officer

Assistant Accountant

Finance Assistant

Manchester Lancashire Yorkshire

£ £ £ £ £ £

30000 40000 30000 38000 30000 38000

30000 40000 30000 38000 30000 38000

30000 37000 28000 35000 28000 35000

20000 27000 20000 25000 22000 25000

24000 30000 22000 25000 22000 25000

19000 24000 18000 22000 18000 22000

18000 23000 18000 22000 18000 22000

18000 23000 17000 21000 17000 21000

18000 27000 18000 25000 18000 25000

23000 29000 22000 28000 22000 28000

16000 19000 16000 18000 16000 18000

Leadership

Payroll Manager

Credit Manager

Treasury Manager

Rent & Service Charge

Manager

Financial Planning Manager

Qualified Finance

Treasury Director

Corporate Service Director

Finance Director

Head of Finance

Financial Controller

Finance Business Partner

Finance Manager

Group Accountant

Financial Accountant

30000 40000 25000 35000 25000 35000

30000 40000 25000 35000 25000 35000

36000 50000 35000 45000 35000 45000

27000 35000 25000 30000 25000 30000

37000 48000 35000 45000 35000 45000

50000 100000 50000 80000 50000 80000

80000 120000 70000 100000 70000 100000

70000 88000 70000 80000 70000 80000

55000 78000 50000 70000 50000 70000

42000 56000 40000 55000 40000 55000

37000 48000 35000 45000 35000 45000

41000 52000 40000 50000 40000 50000

37000 48000 35000 42000 35000 42000

33000 41000 32000 40000 32000 40000

33000 41000 32000 40000 32000 40000 Managment Accountant

Salary is one important part of any remuneration package and strategy. Increasingly important are both the benefits and working conditions.

Bonus

0% 5% 10% 15% 20%

Private Sector

Private Sector & NFP

Public Practice

Bonus as a percentage of annual salary

0% 10% 20% 30% 40% 50% 60%

Private Sector

Private Sector & NFP

Public Practice

Percentage of those receiving a Bonus

Holidays

0 5 10 15 20 25 30 35 40

Private Sector

Public Sector and NFP

Practice

Average number of holidays days received (Excluding Bank holiday)

Benefits

0%

10%

20%

30%

40%

50%

60%

70%

80%

Percentage able to receive the following benefits

Private sector Public Sector and NFP Practice

Flexible working

Are you able to receive flexible working?

65%

35%

PUBLIC SECTOR AND NFP

Yes No

45%

55%

PRIVATE SECTOR

Yes No

20%

80%

PRACTICE

Yes No

Of those unable to access flexible working, the average percentage wishing they could benefit from flexible working is:

90%

10%

Would like flexible working

Do not want flexible working

01772 881666

Accountancy Finance Professionals