Accountants expect 15% bonus this season

British accountants expect to receive an average bonus of 15% this season (2012/13), according to research.

The 15% bonus marks a 2% fall when compared to last year, accountancy and finance recruiter Marks Sattin says - still a healthy figure considering the UK is immersed in one of the worst recessions in living memory.

With average accountancy salaries of £59,900, total remuneration is projected to hit £68,987, for the year, a 1.9% fall compared with last year figure of £70,300. However, total remuneration is still 6% higher than in 2010/11, when average bonuses were higher at £10,436, and average salaries were lower at £54,300.

Dave Way, Marks Sattin managing director, said: 'The previous year's dip in bonus levels and the mixed fortunes of the Big 4 have clearly influenced the perception of upcoming bonuses among accounting professionals. There has also been strong political pressure on employers to limit their bonus payments.

'Hence there has been increased emphasis placed on salary growth as employers seek alternatives to compensate employees. With annual pay resilient, it's clear that reducing size of bonuses is not an attempt to reduce labour costs but a change from short termism to a more long term view as accountancy revenues increase at the biggest firms.'

The decrease means the total bonus pot is anticipated to fall 8% to £4.8bn in 2012/13 bonus season, compared to £5.5bn last year (2011/12). Just a quarter (25%) of accountants reported a drop in headcount over the past year, with 78% saying that their staff numbers had either increased or stayed the same, meaning the bonus pot must stretch further.

While traditionally, financial benefits including bonuses were seen as an incentive to stay in a role, separate research by Marks Sattin found that 28% of accountants decided to move roles purely for financial reasons. More common causes are a more interesting position (37%) and seeking greater challenges (29%).

Way said: 'Employers should take note that a focus on other factors such career progression and flexible working options can go a long way to keeping employees happy even without the higher bonuses of a few years ago.'

The results were based on responses from 502 accountants across the profession.

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