Increase in starting salaries expected for accounting jobs

According to the Robert Half 2016 Salary Guide, starting salaries for professionals in the UK, including finance and accounting staff, will grow on average by 3 per cent over the next 12 months.

This figure is particularly impressive when judged against the current inflation rate of -0.1 per cent.

SME and large businesses

Although the headline figure of 3 per cent covers a wide range of professional roles across several industry sectors, starting salaries for accountancy and finance jobs are predicted to rise on average by 2.2 per cent.

The averages include higher rises for those taking on more senior roles, but overall the figures suggest that finance professionals are increasingly being recognised for their value in providing strategic insight for businesses.

Specialised roles

Senior managing director at Robert Half UK, Phil Sheridan, said: "Businesses are actively seeking the skilled professionals they need to achieve their growth goals. With the growing supply and demand imbalance, salaries for specialised roles are expected to rise. Hard-to-fill roles are experiencing higher than average pay rises due to the increased competition for these candidates."

These roles will see salaries rise quickest next year, according to the Salary Guide. Risk and compliance functions within financial services firms are expected to see an average increase of 4.9 per cent, with information technology professionals enjoying 4 per cent on average.