Chartered accountants sitting pretty after big salary rises

Chartered accountancy may not be the most glamorous profession but it certainly pays well, according to a new salary survey.

The report shows salary packages for chartered accountants have risen by 13 per cent over the past year and now exceed €100,000 for those working in the Leinster region.

The average package paid to professionals in the sector has risen from €89,042 last year to €100,780 on the back of significant demand for chartered accountants at all levels.

According to the Chartered Accountants of Ireland study, almost three-quarters of survey respondents said they had achieved a significant pay rise over the last three years, while just under half said they had received promotions. As if that weren't enough, 48 per cent said their employer had also paid for further education and training while 60 per cent said they had flexible working arrangements.

Perhaps not surprisingly given these figures, 92 per cent of survey respondents said they were either confident or very confident about their current job security.

Overall, 72 per cent of respondent said they had received a salary increase in excess of 10 per cent over the last three years, as against 61 per cent in the last survey.

Three-quarters of chartered accountants said they were working in industry, business and financial services sectors while the remaining 25 per cent were in practice.

The average starting base salary for a newly qualified chartered accountant working in industry and financial services was €53,442 with total salary packages coming in at €58,655. For those starting out working in practice, base salaries worked out at €46,555 with full packages averaging out at €47,168.

“The message from this report is that chartered accountancy remains the premium accountancy qualification in Ireland offering attractive rewards, international recognition and rapid career progression,” said Garrett McCarthy, chairperson of the Chartered Accountants Leinster Society.