It all adds up... as accountants expect salaries to jump 7.2% in next year

Accountants are expecting to see their own bottom line improve over the next 12 months as the majority of them are predicting their salaries will jump this year.

The average pay of accountants is expected to increase by 7.2%, taking the professions’ average salary to just under €60,000.

Many accountants are also in receipt of bonuses often linked to their performances. The average bonus has jumped by 14% to almost €8,500.

Including bonuses total remuneration for those that received a bonus in 2013 was €67,213, and the average across all accountancy professionals in Ireland was €62,692.

The research conducted by Marks Sattin in a survey of 289 accountants found that 62% of accountants expect a salary rise in the next year, while more than 40% expected to see more hiring.

Ireland manager at Marks Sattin, Dan McKeown, said that the expectation of those working in the sector showed the depth of talent here.

“Coupled with an expected increase in hiring over the next year, this salary rise goes a long way to show the strength and competition for talent in the accountancy and finance sector in Ireland. Experienced accountants are highly valued at a time when there is a strong focus on financial health and compliance and these salary rises reflect that.”

The Institute of Certified Public Accountants in Ireland (CPA Ireland) said that the average salary of an accountant starting out in Ireland is between €35,000 and €45,000, depending on where the individual islocated.

A recent survey of CPA Ireland students sees part qualified accountants keen to stay at home.

Nationally, 78% say that they plan to remain in Ireland once they qualify, with 87% currently in full-time employment

Mr McKeown said: “It is also interesting to note a large proportion are considering working abroad for improved prospects and better pay, when it would seem Ireland may provide both of these things for those that choose to stay,” he said.