The economic recovery has given a big boost to the profession affectionately known as bean counters or number crunchers (I used be one) and an annual survey shows a 13% surge in the value of salary packages of Irish chartered accountants.
In June 2015, members of the Leinster Society of Chartered Accountants who were in salaried employment (i.e. excluding self-employed accountants) were sent a questionnaire asking for details of their salary as of 31st of January 2015. There were 1,136 valid responses from accountants in full-time employment (1,170 responses in 2014).
- Average total salary package for a chartered accountant in Leinster (base + car or car allowance + bonus) is €100,780;
- The starting Average Salary package for a newly conferred chartered accountant taking a position in business/industry stands at €58,000 while the average starting average salary package in Financial Services (insurance, funds, banking) is €59,500;
- 72% of respondents have seen their salary increase by at least 10% over the last three years;
- Most chartered accountants work in industry, business and financial services — 75% of respondents work in these sectors, while 25% work in practice;
- 49% of respondents have been promoted in the last three years, compared to 43% responding this way in 2014;
- Members are more confident than ever with 92% feeling secure in their present positions;
- Consistent with other years, members in insurance, funds, banking and financial services are better paid than their counterparts.
Commenting on the findings, Garrett McCarthy, chairperson of the Chartered Accountants Leinster Society commented: “The 2015 Leinster Society survey proves that Irish business and industry places a considerable value on the skills and
competencies of our members, skills that clearly distinguish chartered accountants from other finance professionals.
There is increased demand for trainees, indeed chartered accountancy remains the number one employer of new graduates in Ireland. We see more training vacancies now available in businesses and practices large and small right across the country with opportunities for talented graduates from all disciplines and backgrounds."
The province of Leinster includes Dublin.
Low pay in Ireland; Lowest social security & corporate taxes in Europe — last month business groups criticised a proposal to the Government that the minimum hourly wage be increased by 50 cent.