Salary Survey Accountancy. Executive. Human Resources. Office Support. Financial Services

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1 Salary Survey 2014 Financial Services Accountancy Executive Human Resources Office Support

2 Table of Contents Introduction 1 Geographical Overview Cambridgeshire 2 Essex 3 Norfolk 4 Suffolk 5 Salary Ranges Accountancy and Finance 6-7 Financial Services 8 Human Resources 9 Office Support 10 Salary Survey Statistics 11 About us 12

3 Introduction Welcome to our 2014 Salary Survey The extensive research we have undertaken across the Eastern Region has indicated a positive picture for As the British Chamber of Commerce (BCC) forecast suggests, growth is likely to be higher than anticipated over (each of) the next three years. Excluding business investment, nearly every indicator monitored in the latest Bank of England agents report is trending positive. Salaries have remained very steady over the last 3 years but significantly, in the last 12 months, there appears to be a trend towards focussing more on the additional benefits including study packages, flexible working and flexible benefit packages. In addition, health and well being appears higher on the agenda with companies offering discounted gym membership, counselling, free fruit and private health in increasing numbers. As businesses have identified more positive trading prospects over the past six months with most expecting to increase profits and take on more staff by the end of this year, this could lead to an increased pressure on salaries and continued focus on these additional benefits. We hope you will find the enclosed information useful. With best wishes, Ian, Lynn and Gill. From left: Ian Walters, Director Gill Buchanan, Director Lynn Walters, Director 1

4 Cambridgeshire Overview It has been an interesting 12 months in the Cambridgeshire area. Recruitment has increased significantly this year. Although we have noted an increased movement in permanent recruitment, there has continued to be a strong focus on fixed term contract and temporary recruitment. The Cambridge economy has continued to grow with international businesses continuing to expand within the technology and science parks. In addition, SME s, education and the retail sector have expressed more confidence overall in In this region, our salary survey has indicated an increasing trend to offer work from home and provide flexible working opportunities. In addition, the companies that offer health and well being initiatives have found increased success in attracting and retaining staff. The Cambridge economy has continued to grow with international businesses continuing to expand within technology and science parks. 2 David Culley, Associate Director Caroline Batchelor, Associate Director Cambridge Office

5 Essex Overview The economy in Essex is broad based with particular strength within the private services sector, including professional services and business administration as well as being an important centre for education and financial services. As the economy in London continues to grow this creates increased pressure on surrounding commutable towns to attract quality candidates and retain their top talent without the ability to compete with the higher London weighted salaries. Across the Essex Region the strategy has been to place more emphasis on the benefits of work life balance, less commute times and flexible working which has in turn enabled the companies surveyed to successfully attract and retain staff. Discretionary bonuses and study packages have also been highlighted as successful strategies. Discretionary bonuses and study packages have been highlighted as successful strategies. Ben Farrow, Manager Chelmsford Office 3

6 Norfolk Overview The picture in Norfolk shows reasons for business to feel positive about Food production, manufacturing, tourism, public sector, financial services, energy, oil and gas all play a significant part in the Norfolk economy and have indicated a positive outlook overall for We have noticed an increase in temporary and contract recruitment and a significant increase in vacancies within the professional accountancy firms. The trends in our salary survey have been consistent with the other areas of the Eastern Region with limited increase in salaries but further interest in additional benefits including study support and flexible working. There has been limited increase in salaries but further interest in additional benefits including study support and flexible working. 4 Joseph O Sullivan, Manager Norwich Office

7 Suffolk Overview Suffolk businesses appear to be optimistic about The economy is characterised by a wide variety of industry sectors including manufacturing, public sector organisations, food production, brewing, the ports and financial services. Many of our financial services clients have experienced expansion and a trend to relocate from London. There has been limited increase in salaries but a noticeable focus on attractive bonus schemes and other additional benefits related to flexible working and study support. In addition we have noticed a trend for an increased demand for staff in professional services sector particularly in legal and accountancy firms. Many of our financial services clients have experienced expansion and a trend to relocate from London. Scott Woodrow, Associate Director Ipswich Office 5

8 6 Accountancy and Finance Norfolk Suffolk Cambridgeshire Essex Min Max Typical Min Max Typical Min Max Typical Min Max Typical Sales/Purchase Ledger 14,000 20,600 18,000 13,000 23,000 18,000 15,000 24,000 19,500 17,000 20,000 18,500 Accounts Assistant 13,500 20,400 17,000 13,000 23,000 17,000 19,000 25,000 22,000 18,000 23,000 20,500 Accounts Supervisor/Manager/ Book-keeper 15,000 28,000 22,500 20,000 34,000 25,000 23,000 28,000 25,500 22,000 28,000 25,000 Credit Controller 15,000 22,000 17,500 16,000 25,000 18,000 17,000 26,000 23,000 18,000 23,000 20,500 Credit Control Supervisor 18,000 25,000 21,000 25,000 30,000 27,500 24,000 33,000 28,000 23,000 28,000 25,500 Credit Manager 24,000 50,000 34,000 29,000 40,000 34,500 34,000 50,000 42,000 35,000 50,000 42,500 Payroll Clerk 14,000 25,000 20,000 18,000 25,000 21,500 18,000 27,000 22,500 18,000 27,000 24,000 Payroll Manager 25,000 45,000 35,000 25,000 38,000 34,000 25,000 45,000 35,000 30,000 45,000 37,500 QBE 3-5 years 20,000 22,000 21,500 20,000 25,000 22,500 23,000 27,000 25,000 22,000 30,000 26, years 23,000 41,000 34,000 25,000 35,000 30,000 26,000 35,000 30,500 25,000 40,000 32, years 27,000 45,000 32,000 35,000 45,000 38,000 29,000 35,000 40,000 35,000 50,000 42,500 Accounting Technicians (AAT) Foundation (6+ months exp) 13,500 17,000 15,250 13,000 18,000 16,000 15,000 20,000 17,500 17,000 19,000 18,000 Intermediate (18+ months exp) 16,000 19,000 17,250 13,000 20,000 18,000 19,000 24,000 22,000 18,000 23,000 20,500 Qualified (3+ years exp) 18,000 30,000 25,250 20,000 25,000 22,500 23,000 27,000 25,000 20,000 25,000 22,500 Part Qualified ACCA Fundamental 0-2 years 17,000 27,500 23,000 14,000 25,000 19,500 20,000 27,000 25,000 20,000 28,000 25,000 Professional 2-4 years 20,000 33,000 27,000 22,000 34,000 29,000 24,000 32,000 27,000 29,000 38,000 32,000 Part Qualified CIMA Certificate 17,000 23,500 20,000 15,000 26,000 21,000 19,500 33,365 26,000 20,000 26,000 23,000 Managerial/Operational 24,250 30,000 27,500 22,000 28,000 25,000 25,000 39,000 30,000 26,000 34,000 30,000 Strategic/T4 26,000 36,500 32,250 24,000 32,000 28,000 29,000 45,480 34,000 32,000 40,000 36,000 Newly Qualified Big Four (ACA, ACCA, CTA) 32,500 36,500 34,000 29,000 45,000 37,000 35,000 42,000 38,500 38,000 45,000 42,000 Qualified in Industry (ACCA & CIMA) 29,000 38,000 33,500 32,000 39,000 35,500 34,000 42,000 38,000 38,000 45,000 40,000 * For additional Executive level salary information see page 13

9 Qualified Financial Accountant/Management Accountant Norfolk Suffolk Cambridgeshire Essex Min Max Typical Min Max Typical Min Max Typical Min Max Typical 26,000 40,000 34,000 30,000 50,000 40,000 35,000 55,000 45,000 35,000 45,000 40,000 Finance Manager 32,500 70,000 52,250 35,000 50,000 42,500 32,000 60,000 46,000 45,000 55,000 50,000 Financial/Commercial Analyst 35,250 60,000 48,000 37,000 60,000 48,500 32,500 50,000 41,250 40,000 50,000 45,000 Head of Financial Planning & Analysis 50,000 80,000 60,000 50,000 90,000 70,000 55,000 75,000 65,000 55,000 65,000 60,000 Company t/o 1m-30m Financial Controller 35,000 75,000 50,000 40,000 65,000 52,500 35,000 75,000 55,000 50,000 70,000 60,000 Finance Director/CFO 51, ,000 75,000 50,000 90,000 70,000 70, ,000 87,500 70,000 90,000 80,000 Additional financial benefits include car allowance and bonus Company t/o m Financial Controller 45,000 80,000 62,000 53,000 68,000 60,500 50,000 95,000 72,500 60,000 80,000 70,000 Finance Director/CFO 75,000 90,000 85,000 70, ,000 85,000 80, , ,500 80, ,000 90,000 Group Finance Director 90, , ,000 58, ,000 98, , , ,000 90, , ,000 Additional financial benefits include car allowance and bonus Company t/o 100m+ Financial Controller 65, ,000 85,000 65,000 70,000 67,500 70, ,000 85,000 70,000 90,000 80,000 Finance Director/CFO 85, , ,000 75, ,000 93, , , ,000 85, , ,000 Group Finance Director 100, , ,000 80, , , , , , , , ,000 Additional financial benefits include car allowance and bonus The Profession AAT/ATT Qualified 16,000 20,000 18,000 15,000 18,000 16,500 12,000 23,750 18,000 19,000 25,000 22,000 ACCA Part Qualified 18,000 21,000 20,000 18,000 28,000 23,000 24,000 38,000 24,000 24,000 32,000 28,000 ACCA Newly Qualified 24,500 30,000 27,000 30,000 35,000 32,500 28,000 36,000 32,000 30,000 40,000 36,000 ACA Part Qualified 26,500 32,500 30,000 24,000 34,000 29,000 30,000 40,500 35,000 22,000 32,000 28,000 ACA/CTA Newly Qualified 26,500 32,500 30,000 35,000 44,000 39,500 30,000 40,000 35,000 30,000 40,000 38,000 Assistant Manager 30,000 35,000 32,500 30,000 35,000 32,500 35,000 43,000 39,000 40,000 48,000 44,000 Manager 40,000 50,000 45,000 35,000 55,000 45,000 41,000 70,000 55,500 45,000 55,000 50,000 Principal or Director 60,000 80,000 75,000 50, ,000 75,000 60, ,000 95,000 60,000 80,000 70,000 Salaried Partner 80, ,000 95,000 55,000 90,000 72,500 75, , ,500 70, ,000 80,000 Small Practice AAT Trainee 11,000 14,000 12,000 11,000 14,000 12,000 11,000 14,000 13,000 12,000 18,000 15,000 ACCA Part Qual/AAT Qual/Book-keeper 16,000 20,000 17,000 17,000 20,000 17,000 16,000 20,000 18,000 15,000 19,000 17,000 ACA/ACCA Qualified 24,000 30,000 27,000 28,000 36,000 28,000 28,000 36,000 32,000 30,000 38,000 34,000 Manager 35,000 45,000 38,000 35,000 50,000 40,000 35,000 50,000 42,000 38,000 50,000 42,000 7

10 Financial Services Suffolk Min Max Typical Personal Lines Claims 13,000 18,000 15,500 Claims Team Leader 18,000 27,000 22,500 Claims Manager 24,000 37,000 30,500 Claims Director 50,000 60,000 55,000 Account Handler 14,000 18,000 16,000 Account Technician 18,000 30,000 24,000 Underwriting Technician 12,000 25,000 19,500 Underwriter 20,000 35,000 32,500 Commercial Lines Claims Handler 18,000 25,000 21,500 Specialist Claims 20,000 35,000 32,000 Claims Manager 30,000 50,000 38,000 Account Handler 20,000 28,000 24,000 Account Executive 30,000 45,000 38,000 Claims Director 60,000 80,000 70,000 Specialist Compliance Technician 22,000 28,000 25,000 Compliance Manager 35,000 50,000 42,500 Relationship Manager 22,000 50,000 36,000 MI Analyst 20,000 38,000 34,000 Business Analyst 22,000 35,000 32,000 Project Manager 30,000 50,000 42,000 Change & Programme Manager 40,000 70,000 55,000 Financial Services Mortgage Administrator 18,000 20,000 19,000 CeMA Qualified 20,000 22,000 21,000 Pensions Administrator 18,000 20,000 19,000 Pensions Manager 22,000 28,000 25,000 Investment Executive 20,000 28,000 24,000 Investment Manager 30,000 60,000 45,000 Private Banking Technician 20,000 30,000 25,000 IFA Support 16,000 24,000 19,000 Operations Manager 30,000 36,000 33,000 Operations Director 45, ,000 77,500 * For additional Executive level salary information see page 13 8

11 Human Resources Generalist HR Norfolk Suffolk Cambridgeshire Essex Min Max Typical Min Max Typical Min Max Typical Min Max Typical HR Administrator 14,967 21,381 18,000 16,000 22,000 18,000 18,000 23,000 20,000 17,000 22,000 19,500 HR Assistant 15,000 21,000 18,000 17,000 24,000 22,000 20,000 25,000 22,000 18,000 24,000 22,000 HR Officer/Advisor 20,000 32,858 26,000 18,000 32,000 26,000 25,000 32,000 28,000 20,000 35,000 27,500 Senior HR Officer 25,000 42,000 33,500 28,000 34,000 32,000 30,000 42,000 35,000 30,000 45,000 37,500 HR Business Partner 35,000 45,000 40,000 32,000 45,000 40,000 40,000 55,000 48,000 35,000 50,000 40,000 HR Manager/Head of HR 35,000 70,000 52,500 35,000 65,000 54,000 45,000 65,000 55,000 35,000 65,000 55,000 HR Director 65, ,000 82,500 70, ,000 80,000 65, ,000 85,000 70, ,000 85,000 Additional financial benefits include car allowance and bonus Learning and Development L&D L&D Assistant 15,000 20,000 17,500 16,000 20,000 18,000 20,000 25,000 22,500 18,000 22,000 20,000 L&D Officer 26,000 36,000 31,000 18,000 26,000 24,000 25,000 32,000 28,000 28,000 35,000 30,000 L&D Manager/Head of L&D 40,000 50,000 45,000 35,000 55,000 46,000 40,000 55,000 50,000 40,000 60,000 52,500 Recruitment Specialists Recruitment Assistant 18,000 24,000 21,000 18,000 26,000 22,000 18,000 23,000 20,000 18,000 24,000 22,000 Recruitment Officer/Advisor 23,000 26,000 24,500 22,000 32,000 28,000 25,000 35,000 30,000 25,000 30,000 27,500 Recruitment Manager 30,000 40,000 35,000 30,000 40,000 35,000 30,000 55,000 45,000 30,000 50,000 40,000 * For additional Executive level salary information see page 13 9

12 10 Office Support Norfolk Suffolk Cambridgeshire Essex Min Max Typical Min Max Typical Min Max Typical Min Max Typical PA/Secretarial Exec PA/Assistant 25,000 30,000 27,500 25,000 35,000 30,000 25,000 40,000 32,000 25,000 35,000 30,000 PA to Director 22,000 26,000 24,000 20,000 28,000 24,000 23,000 30,000 27,000 20,000 30,000 25,000 Legal Secretary 18,000 22,000 20,000 18,000 22,000 20,000 18,000 25,000 21,500 17,000 23,000 20,000 Secretary 16,000 20,000 18,000 16,000 22,000 19,000 18,000 23,000 21,000 17,000 23,000 20,000 Administration Office Manager 21,000 40,000 30,500 20,000 30,000 25,000 25,000 40,000 30,000 20,000 32,000 26,000 Senior Administrator 16,000 22,000 19,000 18,000 24,000 21,000 20,000 30,000 24,000 20,000 26,000 23,000 Specialist Administrator 16,000 21,000 18,500 17,000 19,000 18,000 22,000 30,000 24,000 16,000 22,000 19,000 Project Coordinator 18,000 22,000 20,000 18,000 24,000 21,000 18,000 27,000 25,000 18,000 28,000 23,000 Office Administrator 13,000 18,000 15,500 15,000 18,000 16,500 16,000 22,000 20,000 12,000 20,000 16,000 Receptionist 13,000 17,000 15,000 15,000 18,000 16,500 16,000 22,000 19,000 12,000 20,000 16,000 Customer Services Customer Services Advisor 14,000 17,000 15,500 13,000 19,000 16,000 15,000 22,000 19,000 13,000 20,000 16,500 Customer Services Team Leader 19,000 25,000 22,000 20,000 30,000 25,000 20,000 30,000 25,000 18,000 23,000 20,500 Account Manager 18,000 30,000 24,000 20,000 30,000 25,000 25,000 35,000 30,000 18,000 30,000 24,000 Marketing Marketing Assistant 15,000 18,000 16,500 15,000 18,000 16,500 16,000 23,000 20,000 16,000 23,000 19,500 Marketing Executive 18,000 25,000 21,500 22,000 28,000 25,000 23,000 35,000 27,000 20,000 30,000 25,000 Marketing Manager 30,000 40,000 35,000 25,000 50,000 37,500 35,000 55,000 45,000 30,000 50,000 40,000 Head of Marketing 40,000 60,000 50,000 50,000 70,000 60,000 60,000 70,000 65,000 50,000 70,000 60,000 Marketing Director 65,000 80,000 72,500 80, ,000 95,000 60, ,000 80,000 70, ,000 85,000 Benefits include car allowance and bonus * For additional Executive level salary information see page 13

13 Salary Survey Statistics 50% of companies surveyed offer childcare vouchers 60% of companies surveyed offer some form of private health care Additional Benefits Free fruit Gym classes Counselling 70% offer some form of study support for professional qualifications What holiday pay are employees entitled to? 80% offer flexible working hours Some Interesting facts (from Nomis - optimal labour market statistics, Sept Sept 2013) Labour Supply People economically active (Age 16-24) Free parking Contribution to dental and optical Christmas hamper Long service awards Summer social Christmas party Unemployed Car allowance at senior management level 75% offer 25+ days 10% offer 27+ days 15% offer 20 days 40% offer some form of bonus scheme Percentage of population with NVQ level 4 or above, HND or degree Free tea and coffee Discounted retail scheme Additional matched pension contributions are offered to more than 50% staff at a senior level. 11

14 About us Established in 2002, Pure Resourcing Solutions specialises in professional recruitment and retention solutions for public and private companies across the Eastern Region, with offices in Cambridge, Norwich, Ipswich and Chelmsford. Pure has established itself as a leader and a trusted advisor in the Accountancy, Financial Services, HR, Office and Executive recruitment markets. Our consultants are highly experienced professionals in their sectors. Each has expert knowledge of the marketplace in which they specialise and a strong awareness of current and future employment trends and forecasts. In addition to the core recruitment services offered, we provide a full range of complementary services, including assessment centres, proficiency testing, psychometric testing, training, salary benchmarketing and coaching. 12 Actions speak louder than words Many of our candidates become clients and come back time after time. Here are a few reasons why: We love what we do. We re passionate about recruitment. We understand that successful recruitment is about people and partnerships for the long term. We strive to provide a service tailored to the individual and flexible to their needs. We know the Eastern Region. This is our patch and we know it well. Working with the best clients in the region - from large corporates and household names to privately owned businesses - we take the time to nurture our business network and partnerships. This extra effort enables us to provide personal, timely advice and a considered service. So when you talk to our consultants, you ll be talking to someone who has the detailed local specialist knowledge and intuition to make a long-term match. We are trusted advisors. We value our candidates as much as our clients and put them at the heart of our business, acting as trusted advisors, supporting them through their career and helping them make the right choice for them, not us! We know all about service. Resourceful and tenacious, we go the extra mile. Nothing is too much trouble. We believe we have the best team in the business, so we re confident that the level of service you receive will be second to none and fully compliant with REC standards. Our standards are high, but we always aim higher. We have a strong set of values. We re honourable and conduct our business with integrity. We only ever offer impartial, objective advice, putting the interests of the client and the candidate first. We build solid partnerships. We work in partnership with clients, candidates, professional bodies and key advisors to provide mentor schemes, workshops and seminars. We listen... to you. Whether you are a client looking for a high quality individual to fill a role or you are a candidate needing advice and guidance to explore your career options, our team is ready to listen and support you with your recruitment needs.

15 * Pure Resourcing Solutions Executive division recruits a wide range of roles including CEO, COO and MD across the Eastern Region. For additional information on salaries at this level please contact Lynn Walters who is responsible for the Executive division lynn.walters@prs.uk.com 13

16 Cambridge Ipswich Norwich Chelmsford The Workspace 1 Queen Street 16 Queen Street Marlborough House Pioneer Court Ipswich Norwich Victoria Road South Chivers Way Suffolk Norfolk Chelmsford Vision Park IP1 1SW NR2 4SG Essex Histon CM1 1LN Cambridge CB24 9PT Tel: Tel: Tel: Tel: Fax: Fax: Fax: Fax: cambridge@prs.uk.com ipswich@prs.uk.com norwich@prs.uk.com chelmsford@prs.uk.com