December 18 ,2015 | by Erin O’Neill

Bonus pot doubles for UK accountants

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Accountants in the UK are likely to share a bonus pot of up to £4 billion this year, according to research from recruiter Marks Sattin.

This would be double the figure that was paid out a year ago. In addition, 81% of the accountants who took part in the poll said they expected to get a bonus - an increase from 55% last year.

Economic outlook

The boost in amounts paid and number of accountants likely to receive a bonus comes from a wider improvement in the UK's economic outlook for the UK, Marks Sattin's study discovered.

Overall, 84% of the accountants who took part in the research were optimistic about the economic outlook in the country, and 71% expected to see their own salaries rise in the coming year.

The average bonus is expected to be £14,758, which represents 22% of salary. Marks Sattin said that this was the highest bonus in monetary terms for five years. Last year's bonus was 16% of salary, or £10,733.

Growing business

Managing director at Marks Sattin, Dave Way, commented: “The emphasis over the past year has moved from economic recovery to growing business.”

He also pointed out that the trend is to hire accountants “who are not only technically brilliant but have the range of soft skills required of a true business partner.”

The £4bn bonus total was calculated using data from the Financial Reporting Council regarding the number of accountants currently practising in the UK. 

Erin O’Neill is an LSBF News Writer who reports on small business, careers, technology and education news.

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