Accountancy and finance salaries 'will rise in 2017'

Pile of money
By Andrew Harbison, CA Today

10 October 2016

It's good news for accountancy and finance professionals as salaries are predicted to rise next year, according to new research.

Accountancy and finance

The starting salaries for professionals working in the accounting and finance sectors are predicted to rise by an average of 2.9% across more than 100 positions in SMEs and large businesses, according to specialist recruitment consultancy Robert Half.

The firm's 2017 Salary Guide predicts financial planning and analysis managers will see the largest pay increase of 5.8%.

This would mean a rise from an average top end salary of £74,250 in 2016 to £82,000 in 2017.

According to Robert Half, the rise is an indication of businesses being “eager to hire candidates with the right cultural fit along with technical expertise and experience.”

Top three positions 2016 UK average 2017 UK average % change
Financial planning and analysis manager  £63,750 - £74,250 £64,000 - £82,000 5.8
Financial controller £57,500 - £69,250 £59,500 - £72,750 4.3
Commercial financial controller  £75,750 - £88,250        £76,250 - £94,250 4.0

Financial services

Starting salaries for workers in the financial services sector are also expected to be on the rise, with an average increase of 1.7% predicted across all specialisms.

At a predicted upward curve of 5.2%, senior operational risk managers will see the biggest increase from an average high of £115,250 in 2016 to £120,500 in 2017.

The opportunities presented by the rise of challenger banks and FinTech start-ups is likely to be a contributing factor of ‘traditional’ finance institutions raising pay in order to compete for the best talent.

Top three positions 2016 UK average 2017 UK average % change
Senior operational risk manager£80,000 - £115,250 £85,500 - £120,500 5.2
Operational risk manager £60,000 - £90,500 £62,000 - £95,000 4.3
Internal audit manager £79,250 - £104,750         £84,500 - £106,2503.7

Phil Sheridan, Senior Managing Director of Robert Half UK, UAE and South America, said: “Productivity and growth are today’s premium business mantras and the growing skills shortage is one of the key challenges for any organisation to overcome. Competition for the best people is intensifying and as this year’s guide demonstrates, salaries for hard to fill roles continue to rise and outpace the average salary by a significant margin.”


With an increasing number of organisations focusing on digitally transforming their business processes, a “war for the best talent” has resulted in an above average wage growth predicted of 4.5% for developers.

This would raise the salaries of tech professionals from a high of £45,500 in 2016 to £48,000 in 2017.

Top three positions 2016 UK average 2017 UK average % change
Developers £26,750 - £45,500 £27,500 - £48,0004.5
Mobile app developers £32,500 - £61,500 £36,000 - £62,000 4.3
Junior developers £19,000 - £28,500           £19,500 - £30,000 4.2

Source: Robert Half


  • Business
  • Accountancy

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