Accountants in high demand as average earnings hit almost €120,000

The average take-home pay of chartered accountants working in Leinster is now close to €120,000 a year.

A survey by industry group Chartered Accountants Ireland in conjunction with accounting firm Barden shows that the average salary package commanded by these professionals rose by €7,000 or 6 per cent to €119,270 last year.

The figure includes salary, car allowances and bonuses, and points to what Chartered Accountants Ireland said was the “continued strong earning prospects for chartered accountants”.

The survey of more than 1,000 chartered accountants also attested to the strong earning potential for those entering the profession, with newly qualified chartered accountants receiving an average salary package of €58,967, an increase of more than 3 per cent on the previous year.

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While fewer chartered accountants said they expected to receive a bonus this year – 60 per cent compared to 67 per cent last year – the survey suggested the outlook of members was more positive than in previous years.

Some 83 per cent of members said they expected their total remuneration to increase within the next 12 months, with almost one-fifth (18 per cent) expecting it to increase by more than 10 per cent.

Almost 9 in 10 (86 per cent) members said their total remuneration has increased in the past three years, compared to 82 per cent in 2021. More than one-third of respondents said their salary had increased by more than 25 per cent this year.

The vast majority (88 per cent) of members have a pension, an increase on previous years (85 per cent in 2021 and in 2020), with employers contributing an average 9 per cent of their salary, the survey found. After basic salary, pension contribution is the most valued part of their package for 51 per cent of respondents, it found.

The survey also reflected the wider shift to more flexible and hybrid working options. A hybrid arrangement was the most popular option with 73 per cent of members saying their employer facilitates this, while 13 per cent of members work from home full time.

Some 80 per cent said the ability to work from home is a non-monetary way that their employer supports a healthy work/life balance.

“This year’s survey shows a number of very positive market trends. It points to continued strong earning prospects for Chartered Accountants working across Leinster, including for newly qualified members,” said Ann Marie Costello, chairwoman of Chartered Accountants Ireland Leinster Society.

“While expectations around bonus payments have fallen back somewhat, overall remuneration packages are rising across the board, and the vast majority of those surveyed remain confident that salaries will increase again in the year ahead and that there is buoyancy in the market,” she said.

“The survey clearly shows that employers have adapted well to new ways of working, and the value members place on flexible and hybrid work arrangements cannot be overstated. It’s reassuring to see the balance being struck between remuneration that is both financially attractive and supportive of work-life balance,” she said.