Chartered accountants’ earning power is still strong, survey shows

A CHARTERED accountant, who qualified in 1997, earns an average of just under €73,000, according to the annual salary survey of the Leinster Society of Chartered Accountants (LSCA).

But salaries within the profession range from €32,000 to €691,000, the survey shows.

Chartered accountants working in the financial services sector tend to be paid more than their equivalents working in general industry and commerce. Their fringe benefits also tend to be significantly better.

For example, the remuneration package of the head of finance in a financial services firm employing up to 500 people is worth almost €156,000, compared to an average package of almost €127,000 for his or her opposite number employed in industry and commerce.

Looking at the top four accountancy firms, audit managers are paid an average €81,700 per year, while tax managers are paid an average package of just over €83,000 per year.

The lowest salary, according to the survey, was that of a senior in a smaller accountancy practice who earned €32,000.

At the opposite end of the scale, the head of finance in a large company employing more than 1,000 people, who earned €691,000 a year, recorded the highest package.

Chairman of the Leinster Society of Chartered Accountants, Tom Higgins, said: “Once again, our annual salary survey highlights the fact that chartered accountancy is a well-paid profession and one that attracts the brightest of graduates.

Compared to previous annual salary surveys, this year’s survey finds that there is no conclusive evidence that women are paid less than men in similar positions. But it does appear that women find it more difficult to achieve the same senior positions and consequently women are often paid less than men who qualified at the same time.”

The survey shows the main factors influencing salaries are the size of the company, the position held within the company and also the year of qualification. More experienced chartered accountants are invariably in more senior positions and as a consequence earn higher salaries.

A total of 404 chartered accountants responded to the survey, carried out by Brendan Burgess of the accountants panel on behalf of the LSCA. According to the survey, a total of 86% of respondents have their institute membership paid by their company.