The 2015 AAT Salary and Career Survey. See results

Transcription

1 The 2015 AAT Salary and Career Survey See results

2 Contents The 2015 Salary and Career Survey allows us to understand our diverse membership from those starting their journey with us as AAT students through to fellow members who have worked within the accounting profession for many years. It also gives a good indication of how AAT members contribute not only to the accountancy profession but to the overall economy, as well as revealing other key factors that matter to the membership at different stages of their working lives. The last survey was conducted in Salary by AAT membership level Bonus by AAT membership level Salary by region Salary by age Full and part-time salaries by gender Salary and company benefits by industry: Public sector Salary and company benefits by industry: Private sector (accountancy firms) Salary and company benefits by industry: Private sector (non-accountancy firms) Salary and company benefits by industry: Not-for-profit sector Salary by job level Salary by company size Members career intentions for the next year Job satisfaction and security Overall annual income of MIPs MIP fee income by practice size Methodology Use the navigation bar below to easily find your way through the full report. 2

3 Average basic salary for each level of AAT membership Average salaries of AAT members increase as they progress through the different stages of their membership journey. The market looks more positive for AAT members this year compared to 2013: average full-time salaries have increased for all levels of membership since Base: 2,570 35,831 18,000 Mean salary 27,000 Median salary 17,500 21,000 20,000 Introductory 17,865 Intermediate 18,563 Advanced 20,940 Affiliate 21,875 MAAT 29,925 FMAAT 38,225 Introductory 18,000 Intermediate 17,500 Advanced 20,000 Affiliate 21,000 MAAT 27,000 FMAAT 35,831 These salaries are for AAT members working full-time (non-mips). 3

4 Average bonus received within the last two years 34% of AAT members received a bonus within the last two years. This is an increase of 2% since Average bonuses typically represent 7% of average salaries. Base: 893 1,235 1,282 2,212 F/MAAT These bonuses represent the mean for AAT members who are working full-time (non-mips). 4

5 Salary by UK region London is the top paying region across all membership levels. The greatest difference in average salary is at F/MAAT level between London and the North East: average salaries are 54% higher in London. Base: 2,956 East Midlands North East South East West Midlands 16,297 17,437 19,648 16,465 19,766 F/MAAT member 26,212 20,073* F/MAAT member 25,516 22,603 F/MAAT member 32,719 19,435 F/MAAT member 25,843 Scotland East of England North West South West Yorkshire/Humber 17,941 21,401* F/MAAT member 29,766 16,239 20,023 F/MAAT member 26,877 17,923 19,677 F/MAAT member 28,000 17,433 19,993 F/MAAT member 26,107 North West North East Yorkshire / Humber London 23,184 25,913 Scotland 22,709* 20,633* Wales 17,217* 18,846* Wales West Midlands East Midlands East of England F/MAAT member 39,253 F/MAAT member 32,149* F/MAAT member 26,750 London These salaries represent the mean for all AAT members (non-mips). *Low sample size of less than 30 respondents South West South East 5

6 Salary by age As would be expected, salaries and bonus increase by age bracket. Having seen a dip in average salaries in 2013 across most age brackets, this year the picture is more positive: the only age bracket which is static is for those aged All other age brackets have seen an increase. 29, years 31, years 26, years 23, years 17, years 8, years Base: 2986 These salaries represent the mean for all AAT members (non-mips). 6

7 Did you know... In Ancient China, the first money took the form of small knives and spades made of bronze. 7

8 Full and part-time salaries by gender The gender pay gap is still very evident: the full-time male salary is 18% higher than the female equivalent. An equal proportion of full-time men and women have received a bonus within the last two years. Base: 2,986 Male Full-time 27,189 Female Full-time Male Part-time 23,000 22,539 Female Part-time 17,719 The gender pay gap is still very evident: the average full-time salary is 18% more for men. Female 23,000 Male 27,189 These salaries represent the mean. 8

9 Salary and company benefits by industry The public sector has seen greater increases in average salaries than both areas of the private sector (accountancy firms and non-accountancy firms): 10% increase compared to 6% and 7% respectively. Public sector The average salary in the public sector is 24,995 Public sector: 24,995 Private sector (accountancy firms): 20,789 Private sector (non-accountancy firms): 25,161 Not-for-profit sector: 25,547 Company benefits currently received by AAT members Company pension scheme Courses paid for by your employer Flexi-time Paid time off to study A maternity package offering more than statutory Family-friendly policies 79% 54% 53% 34% 26% 22% Incentive for completing AAT Accounting Qualification Private healthcare Life assurance Car/car allowance Incentive for becoming an AAT full member Stock options 13% 12% 11% 6% 6% 2% Base: 622 Salaries represent the mean. 9

10 Salary and company benefits by industry Private sector accountancy firms The average salary in the private sector (accountancy firms) is 20,789 Public sector: 24,995 Private sector (accountancy firms): 20,789 Private sector (non-accountancy firms): 25,161 Not-for-profit sector: 25,547 Company benefits currently received by AAT members Courses paid for by your employer Company pension scheme Paid time off to study Flexi-time Private healthcare Incentive for completing AAT Accounting Qualification 62% 43% 37% 25% 18% 12% Life assurance Family-friendly policies Incentive for becoming an AAT full member Car/car allowance A maternity package offering more than statutory Stock options 12% 7% 5% 5% 3% 2% Base: 679 Salaries represent the mean. 10

11 Salary and company benefits by industry Private sector non-accountancy firms The average salary in the private sector (non-accountancy firms) is 25,161 Public sector: 24,995 Private sector (accountancy firms): 20,789 Private sector (non-accountancy firms): 25,161 Not-for-profit sector: 25,547 Company benefits currently received by AAT members Company pension scheme Courses paid for by your employer Private healthcare Paid time off to study Life assurance Flexi-time 62% 50% 32% 23% 22% 16% Family-friendly policies Incentive for completing AAT Accounting Qualification A maternity package offering more than statutory Car/car allowance Stock options Incentive for becoming an AAT full member 12% 8% 8% 7% 6% 3% Base: 1,451 Salaries represent the mean. 11

12 Salary and company benefits by industry Average salaries are highest in the not-for-profit sector compared to other core sectors. This sector has also seen the greatest increase since 2013 a 13% rise for average salaries. Not-for-profit sector The average salary in the not-for-profit sector is 25,547 Public sector: 24,995 Private sector (accountancy firms): 20,789 Private sector (non-accountancy firms): 25,161 Not-for-profit sector: 25,547 Company benefits currently received by AAT members Company pension scheme Courses paid for by your employer Flexi-time Paid time off to study Family-friendly policies Private healthcare 80% 46% 37% 23% 21% 21% Life assurance A maternity package offering more than statutory Incentive for completing AAT Accounting Qualification Car/car allowance Incentive for becoming an AAT full member Stock options 20% 18% 7% 3% 2% 0% Base: 220 Salaries represent the mean. 12

13 Did you know... Pound sterling was introduced in 1158, and is the world s oldest currency still in use. 13

14 Salary by job level The average salary has increased at all job levels except for Administrator roles. Those in Senior/ Middle manager roles are significantly more likely to have received a bonus than those at other levels: 41% compared to 26% at Administrator level. 16,348 Administrator 18,203 Account /Finance Assistant 23,826 Accounts /Finance Officer 25,354 Team Leader /Supervisor 28,018 Junior Manager 33,303 Middle Manager 43,463 Director/Senior Manager Base: 2,986 Salaries represent the mean. 14

15 Salary based on size of business worked in Generally, the larger the company, the greater the average salary and bonus. Average salaries are 35% higher in large companies compared to small companies (with 1-10 employees). 34% of those in small companies and 31% in large companies have received a bonus. Base: 2, employees 19, employees 23, employees 25, employees 26,267 Salaries represent the mean. 15

16 Did you know... Apple earns 3,000 US Dollars per minute. 16

17 Members career intentions for the next year Overall, more than half (53% of those surveyed) intend to stay in the same job with the same employer. Almost a quarter (23%) plan to change employers. Full-timers and younger members are the most likely to be seeking promotion with their employer. Base: 3, Ages Ages Ages Ages Ages Ages 55+ Seek promotion with employer 32% Seek promotion with employer 31% Seek promotion with employer 28% Seek promotion with employer 15% Seek promotion with employer 9% Seek promotion with employer 7% within current industry 9% within current industry 14% within current industry 11% within current industry 13% within current industry 11% within current industry 5% Remain with current employer in the same job 48% Remain with current employer in the same job 44% Remain with current employer in the same job 45% Remain with current employer in the same job 56% Remain with current employer in the same job 67% Remain with current employer in the same job 68% outside current industry 9% outside current industry 9% outside current industry 12% outside current industry 15% outside current industry 8% outside current industry 11% Other 2% Other 1% Other 3% Other 2% Other 5% Other 9% 17

18 Job satisfaction and security 78% of full and fellow members are very/quite satisfied with their job. This compares to 71% of students. Levels of job satisfaction amongst AAT members have been increasing since Job satisfaction Job security Base: 3,010 74% 82% Very/quite satisfied Very/quite secure 26% Not very/not at all satisfied/undecided 18% Not very/not at all secure/undecided 18

19 Overall annual income of MIPs There are over 4,000 AAT members in practice (MIPs) currently practising in the UK A MIP is an AAT full or fellow member licensed to offer accountancy, taxation or related consultancy services to the public. Below is a breakdown of average annual income for AAT MIPs who work for themselves through our scheme for members in practice. Due to a small number of MIPs who have very high incomes which have pushed up mean incomes, this section details median income rather than mean incomes. This is a better indicator of the average income of the majority of MIPs. MIPs who are self-employed only For MIPs who are purely self-employed, the average fee income has risen 16% from MIPs who have a practice and are also employed Average bonus Average fee income 6,500 6,500 Average fee income 40,000 Average salary 23,000 23,000 Base: 349 for MIPs who are self-employed only Base: 124 MIPs who have a practice and are also employed 19

20 MIP fee income by practice size Percentage of MIPs employed as well as having their own practice Average fee income by practice size (MIPs who are self-employed only) Base: % Employed as well as having own practice 74% Self employed only 25,683 1 person 64, people 438,012 * people *Low sample size of less than 30 respondents 20

21 Decimalisation in 1971 divided the pound into a hundred pence. Prior to this, each pound was divided into 240 pence. 21

22 Methodology For the 2015 AAT Salary and Career Survey, two online surveys were conducted in March 2015: one with AAT s student, affiliate, full and fellow members (excluding members in practice) in the UK, and the other with AAT s members in practice. All MIPs, plus a sample of just over 28,000 AAT non-practising members were invited to take part in these two surveys. A total of 3,112 responses were received for the main (non MIP) survey and 494 from MIPs. Broken down by key demographic categories (such as membership level, age and gender), the survey base shows an accurate representation of AAT s membership base. The research work for this project was undertaken by an independent market research consultancy, Caledonia Market Research. Bonus calculations Average bonus figures relate to the mean bonus for those who received one within the last two years. Those who were not eligible for a bonus and those who were but did not receive one, were not included in the calculations. Any questions? If you ve any questions about the survey, please us at salarysurvey@aat.org.uk AAT AAT is the UK s leading qualification and membership body for accounting staff. We work across the globe with around 130,000 members in more than 90 countries. Our members are represented at every level of the finance and accounting world, including students, people already working in accountancy and self-employed business owners. Want to become AAT qualified? If you want to gain a recognised qualification, and boost your salary and career prospects in the process - AAT is the right place to start. Whether you re just starting out, looking for a promotion or changing career, our wide-ranging accounting and finance qualifications provide a highly transferable skillset so you can flourish in any industry or role. Join the thousands of students who set off on this path every year, and order your free prospectus at aat.org.uk/ss15 AAT is a registered charity. No