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Leinster-based Chartered Accountants secure average 6% pay rise

Ann Marie Costello, Chairperson of Chartered Accountants Ireland Leinster Society and Elaine Brady, Managing Partner at Barden
Ann Marie Costello, Chairperson of Chartered Accountants Ireland Leinster Society and Elaine Brady, Managing Partner at Barden

More than a third of Chartered Accountants working in Leinster said they managed to secure an increase in remuneration of more than 25% this year.

A comprehensive survey of over 1,000 professionals in the sector found that the average pay for a Chartered Accountant in the province stood at €119,270.

This represented an average increase of €7,000 or more than 6% in the year.

The rate of inflation across the economy has been running in excess of 9%, according to the latest figures from the Central Statistics Office, with average earnings rising by 2.4% in the year to the end of June.

37% of respondents to the survey, launched today by Chartered Accountants Ireland Leinster Society and accounting recruitment firm Barden, said they had managed to secure an increase in their overall remuneration of more than a quarter of their previous package - which may include bonuses and car allowances.

Almost nine in 10 participants - 86% - said their total remuneration had increased in the past three years, compared to 82% in 2021.

Newly qualified accountants also managed to secure a pay increase which averaged out at half of their more experienced counterparts.

They received an average salary package - including base salary, car or car allowance, plus bonus - of €58,967, an increase of more than 3% on last year when it stood at €57,164.

Some 83% of members who took part in the survey - conducted by Coyne Research - expect their total remuneration to increase in the next 12 months, with around one in five expecting it to rise by more than 10%.

However, fewer members said they expected to receive a bonus this year, falling to 60% from 67% last year.

"While expectations around bonus payments have fallen back somewhat, overall remuneration packages are rising across the board, and the vast majority of those surveyed remain confident that salaries will increase again in the year ahead and that there is buoyancy in the market," Ann Marie Costello, Chairperson of Chartered Accountants Ireland Leinster Society said.

Around three quarters of participants in the survey said their employer has been facilitating a hybrid working model while 13% said they were working from home full time.

"We are now seeing clear evidence of flexible and hybrid working becoming embedded norms in the workplace, with almost three quarters of respondents rating their employers as 'good' or 'very good' in adapting to new arrangements," Elaine Brady, Managing Partner at Barden said.