New figures show
Average starting salaries for professional roles have grown by a composite rate of 3.68 per cent in the past three years, according to the Robert Half 2017 Salary Guide.
Salaries for professional roles in finance and accounting, financial services, technology and administration are predicted to grow by a further 2.1 per cent in 2017.
The most difficult areas to recruit for according to UK CFOs are compliance (cited by 21 per cent), accounting (20 per cent) and business and financial analysis (19 per cent) and this is reflected in higher than average predicted salary rises for financial planning and analysis managers (5.8 per cent), group accountants (3.8 per cent) and financial analysts (3.8 per cent). Salary rises for compliance roles range from 2.5 per cent for compliance managers to 3.0 per cent for compliance associates.
The highest salaries for finance and accounting roles in the financial services sector include those for internal audit managers (3.7 per cent) and financial accountants with up to three years’ Post Qualified Experience (3.6 per cent); the highest salaries for risk professionals include those for senior operational risk managers (5.2 per cent) and operational risk managers (4.3 per cent); and for banking operations roles, operations managers (2.3 per cent) and futures clearing/broker reconciliations specialists (2.3 per cent).
Starting salaries for accountancy and finance roles are predicted to rise on average by 2.9 per cent across 100+ positions in SMEs and large businesses.
Phil Sheridan, senior managing director of Robert Half UK, UAE and South America, commented: “Productivity and growth are today’s premium business mantras and the growing skills shortage is one of the key challenges for any organisation to overcome. Competition for the best people is intensifying and as this year’s guide demonstrates, salaries for hard to fill roles continue to rise and outpace the average salary by a significant margin.”