Accountant shortage 'leading to pay boom'

News Article - 17 August 2007
Category:

Salaries in the City are rising as a result of a shortage of qualified accountants, according to new research.

A study by recruiter Joslin Rowe shows that more finance workers are receiving higher wages, guaranteed bonuses or other perks, particularly at American banks, as employers seek to attract the best talent, reports Accountancy magazine.

The firm said that there is an average of seven candidates for every ten product control vacancies, with applicants likely to receive several job offers each.

Madie Lawson of Joslin Rowe commented: "The incentives have not stopped at basic remuneration.

"Recently, one of our product controllers secured a guaranteed bonus of £50,000, despite the fact they would not be joining the employer until October because of their notice period."

According to statistics compiled by Robert Half Finance & Accounting for Accountancy Age, the average salary for a financial controller in autumn 2006 was £52,094, up from £51,471 in the spring.

Article keywords:

---

More industry news

• Think tank warns UK may have already slipped back into recession
• Growing demand for HR staff in technology and international sectors
• Boosting business growth a ‘priority’ to avoid Eurozone slowdown
• HMRC launches alternative disputes pilot scheme this week
• December employment statistics disregard gloomy recruitment predictions
• Eurozone manufacturing PMI shows modest improvement
• UK scores highly for economic governance by ratings agency
• Government launches two-year project focusing on manufacturing sector
• Burden of regulation on UK businesses ‘too high’

Back to news home page »