- Average Chartered Accountant salary package in Leinster of €123,466, an increase of 10% over 5 years
- Almost 60% of chartered accountants feel AI will impact positively on their career, a significant increase on 2023 findings
Wednesday 4 September 2024 – The earning potential for both experienced and newly qualified Chartered Accountants working in Leinster has increased significantly, according to data published today by Chartered Accountants Ireland Leinster Society. The survey results show the average salary package in Leinster now stands at €123,466 (up 4% on 2023), with the average basic salary of newly qualified Chartered Accountants rising to €62,374 (up 5.6% on 2023).
The annual survey of over 1,100 Chartered Accountants, launched today by Chartered Accountants Ireland Leinster Society in partnership with Barden, Ireland’s leading accounting and tax talent advisory and recruitment firm, provides the most up-to-date guide to Chartered Accountant salaries and employment prospects in the Leinster region.
Strong growth in remuneration packages
The research, conducted by Coyne, shows earning potential across the profession remains strong, with €123,466 the average salary package for Chartered Accountants working across all sectors. This figure includes base salary, car or car allowance, and bonus. The longer-term trends are also strong, with a 10% increase in average salary package between 2019 and 2024.
67% of respondents are satisfied or very satisfied with the salary they receive. 90% of respondents overall say their total remuneration has increased in the past three years, with 33% reporting it had increased by more than 25%. Four in five claim their total remuneration is expected to increase within the next 12 months. As part of the remuneration package, 73% expect to receive a bonus in 2024.
Most common elements in salary package
The vast majority (87%) of members have a pension, with employers contributing an average 9% of their salary. After basic salary, this pension contribution is the most valued part of their package for 54% of respondents. The other most common elements in respondents’ salary packages are payment of professional subscriptions (79%); Cycle to Work scheme (59%); health insurance (55%); and sponsored professional development (51%).
Artificial intelligence in the profession
An increasing enthusiasm about the opportunities represented by artificial intelligence is clear from the 2024 survey findings:
- Over half (52%) of respondents say it is a significant opportunity for the profession (40% in 2023).
- 55% say it will allow the profession to move further up the value chain in terms of the work it does (47% in 2023).
- 57% of respondents feel that artificial intelligence will impact positively on their career (44% in 2023).
In terms of the wider impact of technology on the profession, 60% feel that cloud-based accounting solutions will impact positively on their career, with 68% of respondents saying the same about automation.
Commenting Damien Carr, Chairperson of Chartered Accountants Ireland Leinster Society, said:
“It is very encouraging to see growing enthusiasm about the potential of AI to move Chartered Accountants’ work further up the value chain. AI will not replace human judgement or strategic decision making however but will sit alongside these critical skills that have made Chartered Accountants among the most trusted advisors to senior business leaders. In addition, 44% of respondents agree that AI should be a regulatory priority, and I am confident that regulations such as the new EU AI Act will guide business and society in achieving this important balance.
“The continued increases to newly qualified and average salaries demonstrates the level of demand that continues to exist for our profession and will help us to continue to attract the brightest talent to Chartered Accountants Ireland into the future.”
Non-monetary rewards and work-life balance
The survey findings identified a range of initiatives across Irish workplaces to facilitate team healthy work-life balance. The most common tools made available were the option for hybrid working (available to 83% of respondents); parental and carers’ leave (available to 49% of respondents); and an employee assistance programme (available to 50% of respondents).
Job satisfaction was high amongst those surveyed, with 63% satisfied with the non-monetary aspects of their job (62% in 2023); 76% of members satisfied with their work environment (77% in 2023); and 66% happy with work/life balance (64% in 2023).
Elaine Brady, Managing Partner at Barden, said:
“Despite the continued backdrop of macro level uncertainty over the past 12 months, the demand for accounting talent seen in 2023 has continued strongly into 2024. Differentiating themselves and creating clear career paths is a key challenge for companies throughout Ireland. Accurate data on intrinsic and extrinsic reward can create competitive advantage for those who choose to use it. The insights gained from this publication can also help businesses and hiring managers to craft competitive reward structures to aid not just talent attraction, but as importantly, talent retention.
“It is also extremely interesting to see that 83% of members have some form of hybrid working arrangements, with 3 days a week in the office becoming the average.
“Also interesting to note is the change in respondents’ perception of AI, and how it will positively impact their day to day work, up to almost 57% this year, a significant increase on last year’s 44%. This in turn has an impact on satisfaction with their work, which has also increased this year to an impressive 76% of Chartered Accountants being either satisfied, or very satisfied with their work environment.”
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