Unsatisfactory pay rises are leaving accountants feeling under appreciated and dissatisfied, with many believing that the grass is greener elsewhere - according to a recent survey of finance professionals.

Over a third (39%) of accountants have received below-inflation pay increases in the last two years, while 17% had seen no rise at all in their take home pay.

Such experiences were having a significantly demotivating effect on finance professionals, with 37% believing their employers were not sufficiently recognising their work efforts.

As many as 73% of the 800 respondents considered their remuneration would improve if they worked elsewhere, and 70% admitted to job hunting.

Tariq Chishti, divisional manager at Change Recruitment - the company who conducted the survey - said: 'In these difficult economic times, feeling appreciated by your employers goes a long way towards giving workers the confidence in their position.

'Workers do understand the difficult position some companies find themselves in, and realise that this can have a knock-on effect to their career progression.

'While a pay increase would always be welcome, feeling valued in the workplace fosters productivity and can help to allay any concerns an employee may have about their contribution and future with the company.'