Accountants and compliance managers are some of the roles in highest demand in the UK at the moment with overall salaries predicted to rise by an average of 3% across the board in 2016, compared to last year’s figure of 2.6%, there are some roles expecting to outshine the average and receive around double that with rises of between 5.7% and 7.4%
Professionals looking for the biggest salary increases in 2016 should focus on technology, risk management and finance and accounting, according to the Robert Half 2016 salary guide.
While tech developer roles are top of the league table in terms of earnings growth, accountants, financial controllers and senior finance managers could all be looking to enjoy average salary rises of up to 3.7%.
Top of the table in terms of demand for financial and accounting professionals, ranking sixth on the overlist list, are financial controllers, who earn on average between £76,500 and £104,500 and attract the highest salary band in the top 10. Financial controllers are the lynchpins of every organisation and oversee the financial accounting and reporting that ensure businesses are both compliant and solvent.
Also experiencing high demand and a shortage of skilled candidates are senior finance managers, who should expect an average salary increase of 3.7% with average top earning potential of £64,750. The most in-demand senior finance managers will have three years’ post qualification experience and be responsible for budgeting and forecasting – essential tasks in organisations rebuilding their profitability and productivity.
The top 10 roles - average salary increase, salary range
- Mobile applications developer +7.4% £32,500 - £61,500
- Web developer +7.3% £36,500 - £55,000
- Junior compliance associate +6.8% £22,500 - £36,500
- Information security manager +6.6% £63,250 - £97,000
- Operation risk manager +5.7% £53,500 - £90,500
- Financial controller +3.9% £76,500 - £104,500
- Senior finance manager +3.7% £54,250 - £64,750
- Financial business partner +3.6% £47,000 - £59,750
- Regulatory accountant +3.5% £55,250 - £78,500
- Qualified management/financial accountant +3.5% £44,500 - £59,750
The most in-demand senior finance managers will have three years post qualification experience and be responsible for budgeting and forecasting – essential tasks in organisations rebuilding their profitability and productivity.
Phil Sheridan, senior managing director, Robert Half UK said: ‘The greatest salary increases are a clear indication of where the imbalance between supply and demand is highest.
‘This is creating upward pressure on salaries for hard to fill roles such as applications developers, compliance experts and information security managers who are so essential to organisations operating in today’s fast-evolving yet tightly regulated commercial environment.
‘Employers are having to move quickly to secure the best candidates and are offering other benefits to attract top professionals such as flexible working, annual leave and career breaks.’
Meantime, prospects for accountants are improving as the latest data from Association of Professional Staffing Companies (APSCo) reveals that growth in the professional recruitment market continues to climb across many of the trade association’s core sector groups. Permanent vacancies across finance & accounting are up year-on-year by 16%.
The continued surge int the financial and accounting sectors is mirrored by the latest report from recruitment consultancy Morgan McKinley which found that the number of new vacancies in financial services in London rose by 7% in October 2015.
The Robert Half salary guide can be downloaded at www.roberthalf.co.uk/salary-centre
Sign up to our newsletter
If you would like to receive regular news alerts about breaking news and developments in tax, accounting and audit, sign up to receive our free newsletter here