City accountant salaries 'on the rise'

News Article - Wednesday, May 02, 2007

filed under: Industry

The salaries of accountants in London have continued to rise over the past year, according to a recent survey.

A study conducted by recruitment consultancy Morgan McKinley showed that the wages of accountants rose by between ten and 15 per cent last year, following on from gains in previous years of up to 30 per cent.

In addition, the firm predicts that salaries are set to rise by another six to ten per cent over 2007, based on the views of 69 per cent of employers.

Driving the figures could be the current lack of skilled workers in the industry, with 56 per cent of financial services institutions stating that they had found it more difficult to find adequate candidates than they had a year ago.

While skilled candidates may be in short supply, 58 per cent of employers said they were planning to take on more staff during the year.

Robert Thesiger, of Morgan McKinley's parent company Imprint, said: "In a skills short financial services market, salaries for strong performers have inevitably risen over the last year."

He added that the general industry mood was one of "continued confidence" in the accountancy jobs market.

The Robert Walters global salary survey found that a shortage of recently qualified accountants with the correct skills had resulted in higher salary offers being made.

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