The figures were uncovered after 625 Chartered Accountants responded to the survey, which was carried out in February by Brendan Burgess of The Accountants Panel on behalf of the LSCA.
The survey identified the typical chartered accountant as having qualified in 1996. He or she is employed as a financial accountant in a large company earning an average remuneration package of €71,000 a year.
The survey found that chartered accountants working in the financial services sector tend to be paid more than their counterparts in industry and commerce. Their fringe benefits also tend to be significantly better.
The lowest package paid to a chartered accountant was the €24,000 disbursed by one small company. The highest was €480,000, plus car, paid to the managing director of a company in industry and commerce.
The average head of finance in industry and commerce has a package worth €110,500 per annum, while the average head of finance in the financial services sector receives a package of €140,500 per annum.
The financial services and industry both pay better than accountants in private practice, according to the report. However, the survey did exclude the self-employed within practice, as they do not receive salaries, and if they were included then average earnings in practice would be higher.
“In the top four accountancy firms, tax managers and directors earn on average €101,000, audit managers are paid €89,500, while audit seniors and supervisors receive €48,400. Outside of the top four, managers are paid on average €70,000, while seniors receive €45,000,” the report stated.