Great people are our business

Transcription

1 Salary Survey Great people are our business Salary Survey 2017/18

2 Welcome to the Sharp Consultancy Salary Survey 2017/18 As an independent specialist finance and accountancy recruitment consultancy, we have operated across Yorkshire and the North of England for almost 25 years. Whilst much has changed since we established our first office in 1992, one thing has remained the same that we guarantee to seek out and recruit the most talented individuals that make a real difference to our clients business and offer exceptional support to those looking to make their next career move. Our longevity and specialist know-how ensures that we are ideally positioned to offer clients and candidates the most informative and constructive insight into employment opportunities, recruitment matters and career development in the market place today. Our team of highly specialised consultants has extensive experience in recruiting for permanent, temporary and interim roles across the full spectrum of finance and accountancy positions; and through working with owner managed businesses, well known regional players and national and global PLCs, we understand the particular challenges facing organisations as they navigate today s economic landscape. The in-depth knowledge and expertise at Sharp Consultancy is unrivalled; we have applied this specialist understanding with detailed research to examine today s job market and provide comprehensive guidance on benchmark salary levels as well as exploring the latest workplace trends, issues and outlook affecting both employers and finance professionals throughout the region. For a more detailed conversation with one of our specialist team or to explore the latest opportunities, please call or or visit sharpconsultancy.com 2 Salary Survey

3 Lee Sweeney is Regional Director at Sharp Consultancy and advises major accounting practices, venture capitalists and banks in the North of England on the appointment of senior finance professionals; contact Lee on or How to retain your best talent Retaining your most talented individuals is a challenge for any business says Lee Sweeney as he looks at what employers can do to enable them to hold onto crucial members of their team. From the outset, make sure that you always recruit the right individuals into the business; not only do they need to have the right technical experience and be able to deliver against the requirements of the job role, but they must also fit into the culture of your organisation. Create detailed job descriptions and person profiles to ensure that you remain focussed and It is vital that you have goals in place for the organisation and that you know what skills you will need to achieve those amibitions. are not swayed by impressive but not essential credentials. It is vital that you have goals in place for the organisation and that you know what skills you will need to achieve those ambitions. Communicate that vision to the entire team so that they can buy into what you are aiming to achieve and can see clearly where they can make a valuable contribution. Discuss where your employees are looking to take their careers and make time to regularly review these as their personal circumstances or ambitions change. Look at how the business can help key members of staff meet their goals and outline clear opportunities for progression; be open and flexible to how you can help make this happen - for example, by considering departmental restructures or creating new teams. You must ensure that you have in place a robust performance review programme which includes clear personal goals and rewards for your employees that are directly linked to the objectives of the business. Talking to your team on an on-going basis is essential so have clear and open lines of communication as this will allow you to address potential issues before they escalate into a bigger problem. Regularly review and benchmark your salary levels against other organisations or similar job roles in your industry to remain competitive - but don t make promises of pay rises or promotions that can t be kept - this will only lead to ill feeling. Also, avoid using higher financial packages as a way to ignore other issues which may contribute to staff turnover. Employee benefits offer you a good opportunity to tailor a package towards individual staff members and demonstrate that you understand what is important and meaningful to them; bonuses may be well received but would people welcome flexible working hours, increased holiday allowance or a contribution towards childcare costs as alternatives? Giving positive feedback and acknowledging hard work both go a long way to ensuring a feel good factor amongst your staff so make sure that you recognise the contributions that people make to the business. And finally, some staff turnover is necessary for any company to stay fresh and move forward. Recognise this and react positively by embracing the opportunity that it creates through conducting exit interviews to understand people s reasons for moving on and ensuring measures are put in to address any lessons learnt. Salary Survey

4 Percentage of roles offered during the year West and North Yorkshire 11.0% 9.5% 9.5% 9.5% 10.0% 10.0% 8.5% 5.0% 6.5% In Leeds you are more likely to be offered a new job in March than in any other month If you live in Leeds you are most likely to start a new job in April than at other times of the year More people were offered new job roles in June 7.0% 7.0% People are least likely to apply for a new job on a Friday 6.5% Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec South Yorkshire and North Midlands 14.5% 10.5% 10.0% 10.5% 9.5% 7.0% Had time to reflect over the weekend? More job applications are received on a Monday 7.5% 5.0% April sees fewer people in Sheffield offered new roles 6.5% June and July are the most popular months for Sheffield job seekers to start a new role 7.5% 6.0% 5.5% Jan Feb Mar Apr May Jun Jul Aug Sept Oct Nov Dec The figures above illustrate the number of jobs offered each month as a percentage of the total number during the year. 4 Salary Survey

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6 Andrew Walker is Regional Manager at Sharp Consultancy and specialists in temporary and permanent finance support placements across South Yorkshire and the surrounding area; contact Andrew on or The route to success Professional qualifications demonstrate your focus and motivation to current and future employers, and maximise your chances of securing the best roles in a competitive market. Determining which professional qualification route to take is a huge decision; Andrew Walker looks at the different options available to candidates. ACCA Association of Chartered Certified Accountants (ACCA) This is the most internationally recognised and most flexible of the qualification routes with options for graduate, school leavers, AATs and international students. The ACCA qualification develops accounting knowledge and skills as well as professional values. To qualify as an ACCA member you will need to complete a minimum of five out of 14 exam papers (nine are eligible for exemption based on other relevant qualifications you may have), record 36 months experience in a relevant role and undertake the Professional Ethics module. CIMA Chartered Institute of Management Accountants (ACMA) The CIMA Professional Qualification is recognised worldwide and is often very highly regarded by employers from within industry. The syllabus is split into three pillars (enterprise, performance and financial) and three levels (operational, management and strategic) and comprises 12 exams, nine objective tests and three case study exams. Time required to finish qualification is very flexible and depends on how much study time can be dedicated. You will need three years experience to become a CIMA member this can be gained whilst studying. ICAEW Institute of Chartered Accountants of England & Wales (ACA) This is considered one of the most advanced learning and professional development programmes. There are a number of routes to entry designed to suit school leavers, graduates, those considering a career change and options for members of another body to become an ICAEW Chartered Accountant. In order to successfully complete the ACA qualification you will need to gain between 3 5 years practical work experience with an authorised training employer and complete and pass exams in 15 accountancy, finance and business modules. ICAS Institute of Chartered Accountants of Scotland (CA) The CA qualification is internationally respected and comprises of professional study and relevant practical experience. To train to become a Chartered Accountant you will enter into a training contract with an ICAS authorised employer and you must meet ICAS entry requirements for your chosen route; there are different routes for school leavers, university graduates, experienced finance professionals and Chartered professionals. It generally takes up to three years to qualify as a CA (as a university graduate) with the training involving a combination of work experience and exams it is broken down to test competence, professional skills, professional expertise and business ethics and requires students to undertake a minimum of 450 days of relevant work experience. School leavers can train to become a CA with a five-year employer training contract CIPFA Chartered Institute of Public Finance & Accountancy A professional accounting qualification which covers the full range of skills required for a successful career in public services finance. There are various entry routes designed to suit graduates, AATs, fully qualified accountants and senior professionals. Members of ACCA, CIMA, ICAEW, ICAS or ICAI can become CIPFA qualified by sitting two fast track papers. 6 Salary Survey

7 Jamie Caulfied is Regional Director at Sharp Consultancy and specialises in sourcing and placing qualified and part qualified interim and temporary candidates throughout West Yorkshire; contact Jamie on or Feeling the benefit You don t always have to break the bank to make your employees feel valued says Jamie Caulfield, with an increasing number of companies looking at new and cost effective ways to enhance the packages of their employees as they battle to recruit the best candidates and retain their top talent. It makes huge sense to keep an eye on salary levels. It s the first thing that a job seeker will look at and employers want to make sure that they are remaining competitive yet still in a position to attract top quality staff. But what is in the pay packet at the end of the month is no longer the sole motivation for many employees; and More companies are allowing employees the flexibility to tailor their own benefits package. whilst salary, car and bonus will still top many a wish list, an increasing number are weighing up the benefit of a variety of non-traditional perks which employers are now offering. When salary budgets come under pressure, employee benefits inevitably are placed under the microscope. Not all benefits represent a cost to the business; even those which may incur a small initial outlay can reap huge rewards for a company by fostering happier and more engaged employees who are less likely to move on and take their hard earned skills and experience elsewhere. Employee-funded benefits may not on their own attract new candidates or retain existing employees but, as part of a total package, are becoming increasingly important. Salary sacrifice schemes, such as pensions and childcare vouchers are familiar and there are a host of other benefits which can cost very little to set up or administer which are welcomed by employees. Healthcare plans remain popular, but with employees often looking to gain immediate pay back, schemes such as supermarket discount cards, subsidised travel season tickets and reduced price leisure and gym memberships are increasingly valued. These allow employees to reap the rewards now and make it easier to enjoy the things they like to do away from the office and ease the burden on every day expenses such as the weekly shop. As employees and employers strive to find ways in which to achieve the ideal work-life balance as well as retain their key talent, flexible working becomes increasingly more important. Companies that support the concept are often repaid with more satisfied, productive and loyal employees because they see that their employer is willing to be flexible to their needs. More companies are allowing employees the flexibility to tailor their own benefits package to suit their needs such as offering them the opportunity to top up their standard holiday allowance by purchasing additional days. And facilitating sporting clubs and social activities can be a valuable means to improve team working and internal networking as well as fostering stronger relationships and allowing employees to see work as a fun place to be. Benefits such as these are only one part of the package; getting the salary right and offering challenges and opportunities for progression will always be fundamental to ensuring recruitment and retention success, but they could be the icing on the cake that sways the decision firmly in your favour. Salary Survey

8 Benchmark salary levels Appointment Salary Range Purchase / Sales Ledger Clerk 18,000-21,000 Purchase / Sales Ledger Supervisor 22,000-30,000 Purchase / Sales Ledger Manager 30,000-45,000 Credit Control - up to litigation level 18,000-25,000 Credit Control Supervisor / legal experience 25,000-30,000 Credit Manager 30,000-45,000 Cashier 16,000-18,000 Legal Cashier 18,000-22,000 Bookkeeper 20,000-25,000 Company Accountant (not qualified) 26,000-35,000 Payroll Clerk 19,000-23,000 Payroll Supervisor 24,000-30,000 Payroll Manager 30,000-45,000 AAT Trainee Foundation 14,000-16,000 Intermediate 17,000-19,000 Technician 19,000-21,000 Part Qualified CIMA Foundation/ACCA Foundation 20,000-25,000 CIMA Intermediate/ACCA Certificate 25,000-30,000 CIMA Final / ACCA Professional 30,000-33,000 Qualified ACCA Newly qualified 33,000-40,000 2/3 years PQE 40,000-45,000 4 years PQE 45,000+ Qualified CIMA Newly qualified 33,000-40,000 2/3 years PQE 40,000-45,000 4 years PQE 45,000+ Qualified ACA Newly qualified 35,000-40,000 2/3 years PQE 40,000-45,000 4 years PQE 45,000-48,000+ The salary indicators listed cover basic salaries only, they do not take account of bonuses, company cars, study packages or other benefits. These figures are not provided as a guarantee of minimum salary for a particular role but as representative of the average amounts paid at the time of publication. Regional variations and current market conditions may affect the figures shown. 8 Salary Survey

9 Appointment Audit AAT - Trainee Y1 (not apprenticeship) Salary Range 13,000-14,000 AAT - Trainee Y2 16,000-17,000 ACA Grad Y1 16,000-20,000 ACA Grad Y2 19,000-24,000 ACA Grad Y3 23,000-28,000 Fully Qualified ACA Supervisor (Senior) 28,000-37, years PQE 29,000-40,000 Assistant Manager 34,000-36,000 Manager 36,000-45,000 Supervisor / Senior Manager 45,000-70,000* Director 65,000* Taxation (Personal tax typically 5-10% less at each grade) ATT - Trainee Y1 13,000-16,000 ATT - Trainee Y2 15,000-18,000 Qualified ATT 19,000-26,000 ACA Trainee (Y1, Y2, Y3) (As per audit - occasionally a very slight reduction of up to 5%) Fully Qualified Associate / Senior (CTA/ACA) 28,000-36, years PQE 29,000-39,000 Manager 35,000-50,000* Associate Director (Senior Manager) 44,000-66,000* Director 70,000* Appointment Business Services / General Practice Salary Range Junior / AAT Studier 10,000-16,000 AAT Intermediate 17,000-20,000 AAT Qualified 20,000-24,000 ACCA Part Qualified 18,000-25,000 ACCA Newly Qualified 30,000-32,000 ACCA 1-2 years PQE 28,000-36,000 ACA Part Qualified 17,000-28,000 ACA Newly Qualified 30,000-43,000 ACA Qualified 2-3 years PQE 35,000-48,000 ACA Qualified 4 years PQE 48,000+ Supervisor / Senior 28,000-36,000 Manager 34,000-44,000* Senior Manager (rare to see) 35,000-55,000* Director (as above) 55,000+ Corporate Recovery / Forensics Junior Administrator (0-2 years experience) 14,000-19,000 Administrator (2-4 years experience) 19,000-25,000 Senior Administrators (poss JIEB studying) 26,000-31,000 Assistant Managers (JIEB studying or qualified) 32,000-39,000 Managers (JIEB qualified) 38,000-50,000* Associate Directors 50,000-75,000* Directors 70, ,000* Corporate Finance Assistants (trainee) similar to audit ACA trainees (perhaps 5-10% more) Associates (qualified) 32,000-40,000 Managers 40,000-50,000* Senior Managers 50,000-75,000* Directors 70, ,000* NB: Directors in specialist service lines (Corporate Recovery and Corporate Finance) can also earn substantial bonuses. All would expect some bonus but bonus at Director level can in exceptional circumstances run up to 100% of salary in the BIG4. It is not unusual within the BIG4 to find such Directors on base salaries over 100k (outside the BIG4 on occasions too) and with bonus earning over 200k in total (though bonuses outside the BIG4 are not as great they can still be very good - up to 50% of salary for instance). * Car allowances are generally payable for manager grades and above, ranging from 4-8k Salary Survey

10 We asked... Salary increase Improved benefits Career progression Redundancy Need a new challenge Work life balance Why someone looks for a new job? Poor relationship with colleagues or manager Company culture Shorter commute Study support or becoming qualified Poor previous move Relocation End of contract Flexible working hours Generous holiday allowance Bonuses Pension Private health care Which perks or benefits are most attractive to candidates? Car or car allowance study support or training opportunities Work life balance Parking Gym membership 10 Salary Survey

11 Car or car allowance Pension Private health insurance Bonus Long term investment plans (LTIPs) Which benefits are most likely to be offered by employers as part of a salary package? Income protection Childcare vouchers Extra holidays Study support Employee discounts Quality of available candidates Skills and ability Costs Counter offers from existing employer What is the biggest concern of an employer when it comes to recruiting new members of staff? Reliability Team fit and personality Affect on existing staff Timescales Salary Survey

12 Employees being head hunted to a new role Ability to offer competitive and attractive salaries How to engage with staff outside of offering more money Ability to provide promotion and career progression opportunities What is the biggest concern for an employer when it comes to retaining top talent? Losing experience from within the team Retaining key relationships Ambition Good communication skills Presentation skills Honesty Loyalty Reliability Flexibility Positivity Proactive approach Drive What is the quality most sought after by employers? Ability to influence Passion Commitment Confidence Enthusiasm Initiative Good listener Ability to take instructions Able to add value 12 Salary Survey

13 Staff turnover Covering long term absence Business growth Vacancy created by a promotion Improving talent within the team Succession planning Key reasons for employers recruiting or increasing headcount? Retirement Changing company structure Acquisition Maternity cover Relocation of the business Salary Survey

14 Aaron Pepperday is Regional Manager at Sharp Consultancy and focuses upon the recruitment of senior finance and accountancy professionals across the South Yorkshire region; contact Aaron on or When only the best will do Recruitment is not just about an employer finding the right person for the job; today s candidates are more savvy than ever and the interview is a two way street. But what makes the best performers choose one company over another? Aaron Pepperday examines what strategies businesses should employ in order to attract the highest calibre candidates. You only want to find the very best candidate; make that implicitly clear to those you are interviewing the top talent will rise to the challenge and will see your company as one they want to join in order to surround themselves with the best in their industry. The interview is as much about you selling your organisation and the career prospects on offer as it is about selecting a candidate for the role. People do have a choice whether or not to join a company even in times of higher unemployment competition will be fierce to secure the best people. The more successful employers recognise this and ensure that they give candidates plenty of reasons to want to be part of their team. It can be easy to get caught up in what you want from a potential employee; however, you must make sure that you consider what your company can offer them. Salary will be a key motivation but a candidate s decision will not be based upon money alone - think about what other benefits, flexible working options, training and development opportunities and the working environment that you can provide. Make sure you ask about their goals and ambitions and describe how as a company, you can help them to achieve these. Involve your best interviewer or most charismatic and inspirational manager in the recruitment process. They can best sell the company to create an excitement about the opportunity to join the team; even if they will not be directly working in the same department, their enthusiasm will be 14 Salary Survey

15 infectious and will make people want to be part of the company. Back up this enthusiasm with real examples not only about the growth and direction that the company is heading in but also talk about the culture, the environment Make the recruitment and interview process a priority in your working day. and the opportunities to get involved in social activities that exist in the work place. Make the recruitment and interview process a priority in your working day; move internal meetings if necessary or meet potential candidates outside of usual working hours. Show interest in those being interviewed beyond what they can bring to the job find out what makes them tick and talk about their interests outside of work to discover who they are as human beings and not just as an employee. If possible arrange an informal meet the team session, perhaps over a coffee, when you are close to making your final selection to see how everyone gels together. Lastly, but most importantly, time is certainly of the essence. The companies that are most successful at securing the candidate that they want keep the recruitment process moving along swiftly and efficiently with quick turnaround between first and second interviews and making any offers of employment shortly after. Even if you know that you can t make an offer immediately, ensure that your selected candidate knows that you are interested and keep in regular contact with them until you are in a position to do so. Salary Survey

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