Salaries in the sector are still substantially more than the UK average, with accountancy and finance roles paying an average of £54,300 compared to the UK equivalent of £38,900. Despite this, a fifth (20%) of the industry’s workers are still unhappy with their salaries, according to Reed’s research, with 64% of those who are unhappy saying this was because their salary has not risen in line with the cost of living.

But the Reed survey flagged a significant problem for the sector with a drop in the number of newly-qualified accountants. This was mainly due to the fallout from the covid years which saw ‘disruptions in professional training during the pandemic years’.

This caused ‘a surplus of senior professionals’ and a lack of entry level candidates, which was one of the main causes for entry level salaries seeing significant increases in the last 12 months.

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