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Before we start....The Dataset
We asked 63 Midlands based ACAs. 63 may not seem a huge number.
However, this is a highly targeted group of Accountants. They were all looking for a new role, and that pool is only so big!
What helps us here is that you only need 2-3 from each firm to give you a real idea of what that firm pays, as pay is generally standardised. Especially at larger firms.
Top 20 Firms
Most pay between £43k – £48k to a newly qualified ACA.
This really does depend on the “level” of the candidate and if they’ve made Assistant Manager yet. According to our research, PwC pay the most. Some firms do offer retention bonuses or overtime, but this is rare.
Regional firms are a real wild west. Some firms pay their newly qualified accountants as low as £33k, others are right up there with the big 4. More Audit exposure normally translates to higher pay.
Additionally, all these pay figures are for audit, other fields can often pay 10% higher.
Years of Experience - Current Salary
The average for newly qualified Accountants with under 4 years experience was £45292, rising to £47474 when looking at those with 5 years+ of experience.
More important, is level. Those that are Assistant Manager seem to be between £45k – £50k. Those who are recently promoted to a Manager level are more £52k – £60k. The average big 4 candidate with 6+ years of experience was on a salary of at least £59500.
What do ACAs get paid in industry?
New audit seniors/AMs are jumping from £44k-£48k (current) to somewhere around the £55k mark in industry.
Managers in a top 10 firm are often on £55k – £60k, seeking £65k+ to move.
Experienced Managers can easily be on £65k+ and seek £70k – £75k to move.
The Short Answer
£55k and hybrid working is a fair offer for a first move for a newly qualified.
A Few Final Notes
Salaries rose quickly post-Covid, but now more modest increases are offered each year.
The market for first time movers is much more buoyant at the £50k – £57k mark.
Past £65k, it can be more difficult for someone to move into industry, with no existing industry experience.
It is easier to recruit ACAs the closer you are to Birmingham.
Regional firms candidates are always in demand, but good ones hard to find.
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