Big Changes In Work Practices For Accountants

03 Sep 2021 | 08.50 am

Big Changes In Work Practices For Accountants

CAI Leinster Society/Barden salary survey 2021

03 Sep 2021 | 08.50 am

The average salary package for chartered accountants in Leinster has held up well during the pandemic at €112,000, but the annual CAI survey shows a strong shift in work practices, values and priorities in the profession as a result of the crisis.

The Leinster society of Chartered Accountants Ireland conducts the annual survey with Barden.

This year it has recorded an average package, including base salary, car or car allowance, and bonus, of €112,000 for fully qualified members, while newly qualified accountants can expect a starting package amounting to €57,200.

For 82% of members total remuneration increased over the past three years, with a third claiming it rose by more than 25%. The survey also showed a significant increase in those anticipating a bonus payment in 2021 (67%) versus 2020 (52%), with €20,000 the average bonus expected.

At 85%, the majority also have a pension, unchanged from 2020, with employers contributing on average 9% of their salary, while the numbers in full-time permanent roles rose one point to 96%.

Chairperson Jill Harvey said: “While our survey shows that 84% don’t believe the pandemic has changed their work, it is clear that ways of working have changed, and that the pandemic has been a catalyst for much of this change.

“Greater work-life balance with flexible arrangements are valued by members in greater numbers than in any previous survey. It is reassuring that employers are providing tangible ways to meet those needs as part of the overall remuneration package on offer to new and established professionals.

“The survey points to a profession that is adapting well for the post-pandemic world of work, while retaining the many benefits, such as strong starting salaries and flexible entry routes, that make Chartered Accountancy an attractive career path for so many.”

Working Arrangements

Questions on the impact of Covid-19 on working life and the growing focus among CAs on health and work-life balance yielded interesting results, with employers increasingly offering ways to facilitate this for staff:

  • 88% of respondents have the ability to work from home, versus 50% pre-pandemic
  • 48% now enjoy flexible working arrangements such as flexitime, time in lieu and job-sharing, versus 39% pre-pandemic
  • Eight in ten respondents said they value flexible working arrangements and would sacrifice 5% to 10% of their remuneration for this, versus 74% pre-pandemic
  • 76% rated their employer as “good” or “very good” in adapting to working from home arrangements
  • Only 8% said their employer offered no specific measures to facilitate improved work-life balance, versus 25% pre-pandemic

After basic salary, the most valued benefits were a pension scheme (52%) followed by health insurance (17%). 55% said they receive health insurance as part of a salary package, versus 48% in 2018.

Four out out five respondents in the survey want full flexibility with regard to work location in the future, opting for a hybrid mix of home, office and client location, even though half believe they’ve been working longer hours from home than they did at the office. 

Just 6% would be happy to return to a full-time, Monday to Friday office routine.

Photo: Elaine Brady of Barden (left) and Jilly Harvey, chairperson of Chartered Accountants Ireland Leinster Society

 

 

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