“What is the going rate for a newly qualified accountant at the moment?”

This should be a really easy question for any finance recruiter to answer. It should be, but it is not!

Our last Salary Survey was published in 2021/22. We analysed lots of records and calculated an average NQ salary of £40,820. The following years of wage inflation and accelerating demand have changed this figure significantly.

We have looked at five different resources available online and received the following guidance:

• £42,492
• £45,714
• £38,000
• £41,000
• Between £40,000 and £55,000, with an average of £48,000.

A £17,000 variance between the highest and lowest figures, and £7,000 between the average figures, highlights the pitfalls of taking online advice in isolation.

Looking at the data from our successful placements over the past twelve months:

• Over 90% of ACA NQs have been looking for a salary and car allowance package of at least £50,000.
• The average salary for all NQs is around £45,000
• Candidate expectations are a pay rise of between 15% and 20% for moving jobs after qualifying.

We never advise any candidate to make a career decision on salary alone and we never judge any offer based on just the basic salary. However, it has always been the dominant feature in candidate motivation and it is fascinating to see where the market currently sits.

If you are an employer who is looking at their current remuneration packages or if you are a candidate looking to benchmark the salary and benefits for your current or next role, please send me a message. Our team will always be happy to help.