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CONTENTS.
CHIEF OPERATIONS OFFICER’S LETTER 2
COMMERCE & INDUSTRY 3
HIRING MARKET UPDATE 4
ACCOUNTING & FINANCE – PERMANENT:
LARGE COMPANIES 5
SMEs 7
ACCOUNTING & FINANCE – TEMPORARY:
LARGE COMPANIES 9
SMEs 11
SHARED SERVICES 14
INTERNAL AUDIT 15
TAXATION 16
PROFESSIONAL SERVICES 18
HIRING MARKET UPDATE 19
AUDIT & INSURANCE 20
ADVISORY SERVICES 21
CORPORATE FINANCE & RECOVERY 23
TAXATION 24
PUBLIC SECTOR 25
HIRING MARKET UPDATE 26
PUBLIC SECTOR 27
BUSINESS SUPPORT 30
HIRING MARKET UPDATE 31
OFFICE SUPPORT 32
SALES & MARKETING 35
HUMAN RESOURCES 36
UNDERSTANDING THIS GUIDE 37
TALK TO US 38
This report provides insight into current salary and
hiring trends for accounting, finance and support
professionals working in commerce and industry
(C&I), professional services and the public sector.
These are clearly diverse markets but overall, the
recruitment outlook is much more positive than at
the same time last year. Our market knowledge,
and anecdotal evidence from our clients, points to
10-20% growth in hiring activity across the board in
2011. Although this is a pleasing forecast, hiring
levels are still relatively suppressed when
compared to pre-recession data.
The C&I, professional services and public sector
recruitment markets felt the effects of the global
financial crisis in H2 2009, around 12 months after
the financial services sector. It is a similar scenario
with market recovery; while last year saw a
rebound for financial services, it is predicted that
2011 will be the year of measured growth for C&I,
professional services and the public sector.
Recent statistics published in Accountancy state
that 58% of FTSE 100 companies are now led by
an accountant or finance specialist. This year will
see significant emphasis on finance professionals
at all levels, as companies work to meet top line
sales targets while protecting their bottom lines.
Commercially-minded finance professionals with
skill sets that concentrate on analysis and financial
integrity will be in high demand.
Confidence has returned to the professional
services jobs market and there has been
increased hiring activity across all disciplines.
There has been a lift in demand for qualified
ACAs and CTAs for audit and tax roles
respectively, and compliance and advisory
services are also tipped as key growth areas.
Hiring trends vary within the public sector. Not-
for-profit companies have been resilient and
there have been limited cutbacks within the
larger housing associations. Government, NHS
and education have, unfortunately, been the
hardest hit due to general cost cutting, mergers
and cessation of funding streams.
Increased demand for support services
professionals is often a good indicator of
economic recovery. It is therefore heartening
that we forecast hiring activity in this space to
rise by 10-15% in 2011. These roles are
becoming more diverse and support staff are
now often called upon to assist with value-
adding marketing or HR projects.
This year should also see a continued rise in
temporary and interim hiring. More and more
companies are hiring contractors to undertake
specific projects, provide extra resources during
busy periods or maintain a flexible workforce
during times of uncertainty. The perception is
that contractors can ‘hit the ground running’ and
produce rapid, strategically-enhanced results.
We hope you find this salary guide informative.
If you have any questions or feedback, please
feel free to contact me or any of my colleagues
here at Morgan McKinley.
Chris Leeson
Chief Operations Officer
Accounting, Finance & Support
United Kingdom
T: +44 (0)20 7092 0078
Welcome to
Morgan McKinley’s
UK Salary Guide 2011:
Accounting, Finance
& Support
CHIEF
OPERATIONS
OFFICER’S
LETTER.
2
COMMERCE & INDUSTRY.ACCOUNTING & FINANCE
3
COMMERCE & INDUSTRY.
HIRING MARKET UPDATE
4
LONDON
There was a significant rise in accounting
and finance hiring activity in London
during H2 2010, particularly within the
retail, leisure and FMCG sectors.
Professionals with commercial decision
support experience were particularly
sought after within these markets. Job
vacancies at the part/newly qualified
level continued to rise as companies
implemented more cautious recruitment
strategies and generally opted to fill
senior vacancies internally.
The outlook for 2011 is cautiously
optimistic. In fact, there was a 20%
increase in senior accounting and
finance hiring in Q1 2011 compared to
Q4 2010, with new job vacancies
spanning group, financial accounting and
commercial finance. It is anticipated that
there will be increased movement in the
market in the coming quarters as
professionals who had put their job
searches on hold during the economic
turmoil of 2008/09 start to explore new
career opportunities.
Tracy Sinclair
+44 (0)207 092 0080
HOME COUNTIES
The Home Counties hiring market was
changeable moving into 2011. Despite
the Government’s planned spending
cuts, there was clear evidence that
headcount expansion plans were still on
the agenda for many businesses. As a
local finance recruiter, we saw more
emphasis placed on finance roles that
support strategic growth and
development of businesses.
A large number of companies have been
seeking professionals with skill sets that
concentrate on analysis and financial
integrity. The market is still highly
competitive and professionals need to
have a commercial focus and be willing
to support the flow of financial
information to the whole business.
Although recruitment budgets remain
quite tight, more movement is expected
during 2011, especially by those
professionals who were dissatisfied with
their 2010/11 bonus payouts.
Stuart Duncan
+44 (0)175 320 1457
BRISTOL, CHELTENHAM
LEAMINGTON SPA & MIDLANDS
2010 proved to be as challenging a year
as 2009 with companies still cautious to
hire, particularly at the permanent
qualified level. In the same vein,
candidate supply continued to be short
as most professionals ‘sat tight’ in their
permanent roles. In Q1 2011, there was
renewed confidence in the market across
the South-West and through to the
Midlands. The finance jobs market has
begun to recover at a steady pace in
terms of both the amount of recruitment
that is taking place and also the
availability of accounting and finance
professionals.
In particular, demand for part-qualified
and qualified accountants for interim
roles is firmly on the rise. Salary levels
were stagnant in 2010 but have started
to increase again in 2011.
Tara Heath-Arnold
+44 (0)117 944 0600
PERMANENT
BASIC SALARIES (PER ANNUM)
COMMERCE & INDUSTRY.
ACCOUNTING & FINANCE (Large companies*)
5
Role: London Home Counties Bristol, Cheltenham,
Leamington Spa
& Midlands
Chief Financial Officer £150k - £400k £150k - £400k £120k - £350k
Financial Director £100k - £250k £100k - £250k £80k - £200k
Financial Controller £70k - £100k+ £60k - £85k £50k - £80k
Financial Planning Analysis Manager £60k - £90k £50k - £70k £50k - £65k
Finance Manager £50k - £60k £45k - £55k £40k - £60k
Business Analyst £45k - £52k £40k - £48k £30k - £50k
Finance Analyst £45k - £52k £40k - £48k £30k - £50k
Systems Accountant £45k - £60k £40k - £60k £40k - £50k
Group Accountant £50k - £65k £45k - £60k £40k - £50k
Financial Accountant £45k - £52k £40k - £52k £40k - £45k
Management Accountant £45k - £52k £40k - £52k £40k - £45k
ACA top 10 newly qualified £45k - £50k £42k - £50k £35k - £45k
ACA non-top 10 newly qualified £42k - £48k £42k - £48k £35k - £40k
ACMA newly qualified £45k - £50k £42k - £48k £30k - £35k
ACCA newly qualified £42k - £48k £42k - £48k £30k - £35k
*Large companies – 500+ employees
PERMANENT
COMMERCE & INDUSTRY.
ACCOUNTING & FINANCE (Large companies)
6
Role: London Home Counties Bristol, Cheltenham,
Leamington Spa
& Midlands
Systems Accountant PQ / Finalist £35k - £45k £30k - £40k £30k - £35k
Project Accountant £33k - £40k £30k - £35k £30k - £35k
Business Analyst PQ / Finalist £33k - £45k £30k - £40k £28k - £35k
Financial Analyst PQ / Finalist £28k - £40k £30k - £40k £28k - £35k
Management Accountant PQ / Finalist £33k - £40k £30k - £40k £28k - £35k
Assistant Management Accountant £25k - £32k £25k - £30k £20k - £30k
Financial Accountant PQ / Finalist £28k - £38k £30k - £40k £28k - £35k
Assistant Financial Accountant £26k - £32k £25k - £30k £20k - £30k
Assistant Accountant £24k - £30k £25k - £30k £20k - £28k
Credit Control Supervisor / Manager £24k - £35k £25k - £35k £25k - £30k
Credit Controller £24k - £30k £20k - £25k £18k - £25k
Accounts Receivable Supervisor / Manager £33k - £45k £25k - £35k £25k - £30k
Accounts Receivable Clerk £22k - £26k £20k - £25k £18k - £22k
Accounts Payable Supervisor / Manager £33k - £45k £25k - £35k £25k - £30k
Accounts Payable Clerk £24k - £28k £20k - £25k £18k - £22k
Accounts Assistant £24k - £27k £20k - £25k £18k - £22k
BASIC SALARIES (PER ANNUM)
PERMANENT
COMMERCE & INDUSTRY.
ACCOUNTING & FINANCE (SMEs*)
7
Role: London Home Counties Bristol, Cheltenham,
Leamington Spa
& Midlands
Chief Financial Officer £150k - £200k £80k - £120k £50k - £100k
Financial Director £80k - £100k £50k - £70k £50k - £70k
Financial Controller £55k - £65k £42k - £50k £40k - £60k
Financial Planning Analysis Manager £50k - £60k £45k - £60k £40k - £50k
Finance Manager £45k - £55k £42k - £50k £40k - £50k
Business Analyst £43k - £48k £40k - £45k £30k - £40k
Finance Analyst £43k - £48k £40k - £45k £30k - £40k
Systems Accountant £45k - £55k £44k - £60k £30k - £40k
Group Accountant £40k - £55k £45k - £50k £30k - £40k
Financial Accountant £42k - £45k £42k - £48k £30k - £40k
Management Accountant £42k - £45k £40k - £45k £30k - £40k
ACA top 10 newly qualified £45k - £48k £44k - £46k £35k - £40k
ACA non-top 10 newly qualified £40k - £45k £40k - £42k £30k - £35k
ACMA newly qualified £42k - £48k £38k - £44k £30k - £35k
ACCA newly qualified £40k - £45k £30k - £44k £30k - £35k
*SMEs – up to 500 employees
BASIC SALARIES (PER ANNUM)
PERMANENT
COMMERCE & INDUSTRY.
ACCOUNTING & FINANCE (SMEs)
8
Role: London Home Counties Bristol, Cheltenham,
Leamington Spa
& Midlands
Company Accountant £28k - £40k £28k - £40k £28k - £40k
Systems Accountant PQ / Finalist £25k - £30k £25k - £40k £25k - £35k
Project Accountant PQ / Finalist £28k - £35k £25k - £35k £25k - £30k
Business Analyst PQ / Finalist £25k - £38k £20k - £30k £25k - £30k
Financial Analyst PQ / Finalist £22k - £35k £22k - £30k £25k - £30k
Management Accountant PQ / Finalist £26k - £35k £25k - £30k £25k - £30k
Assistant Management Accountant £23k - £27k £22k - £28k £20k - £28k
Financial Accountant PQ / Finalist £25k - £33k £25k - £35k £25k - £30k
Assistant Financial Accountant £20k - £26k £22k - £28k £20k - £25k
Assistant Accountant £22k - £28k £20k - £25k £20k - £25k
Credit Control Supervisor / Manager £24k - £35k £25k - £35k £20k - £25k
Credit Controller £18k - £24k £18k - £20k £15k - £20k
Accounts Receivable Supervisor / Manager £24k - £35k £25k - £35k £20k - £25k
Accounts Receivable Clerk £20k - £24k £18k - £24k £15k - £20k
Accounts Payable Supervisor / Manager £24k - £38k £25k - £35k £20k - £25k
Accounts Payable Clerk £17k - £22k £18k - £25k £15k - £20k
Accounts Assistant £18k - £24k £18k - £24k £15k - £20k
BASIC SALARIES (PER ANNUM)
TEMPORARY
COMMERCE & INDUSTRY.
ACCOUNTING & FINANCE (Large companies)
9
Role: London Home Counties Bristol, Cheltenham,
Leamington Spa
& Midlands
Chief Financial Officer £600 - £1000 £600 - £1000 £500+
Financial Director £400 - £600+ £400 - £600+ £500+
Financial Controller £350 - £500+ £400 - £500+ £400 - £500+
Financial Planning Analysis Manager £300 - £400+ £300 - £400+ £350 - £400
Finance Manager £300 - £400+ £300 - £400 £300+
Business Analyst £240 - £350 £250 - £350 £300+
Finance Analyst £250 - £350 £250 - £350 £300+
Systems Accountant £300 - £500+ £250 - £500+ £250 - £400
Group Accountant £250-£350+ £300 - £400 £300+
Financial Accountant £250- £350 £250 - £350 £280 - £350
Management Accountant £280- £350 £280 - £350 £280 - £350
ACA top 10 newly qualified £220 - £275 £240 - £275 £200 - £250
ACA non-top 10 newly qualified £200 - £275 £200 - £275 £180 - £250
ACMA newly qualified £220 - £260 £240 - £280 £180 - £250
ACCA newly qualified £200 - £250 £200 - £250 £180 - £250
RATES (PER DAY)
TEMPORARY
COMMERCE & INDUSTRY.
ACCOUNTING & FINANCE (Large companies)
10
Role: London Home Counties Bristol, Cheltenham,
Leamington Spa
& Midlands
Systems Accountant PQ / Finalist £19 - £25 £25 - £27 £15 - £20
Project Accountant £17 - £25 £35 - £40 £15 - £20
Business Analyst PQ / Finalist £18 - £24 £25 - £30 £18 - £25
Financial Analyst PQ / Finalist £15 - £24 £25 - £30 £18 - £25
Management Accountant PQ / Finalist £17 - £24 £25 - £30 £18 - £25
Assistant Management Accountant £15 - £18 £25 - £30 £12 - £18
Financial Accountant PQ / Finalist £17 - £22 £25 - £30 £15 - £20
Assistant Financial Accountant £13 - £17 £25 - £30 £10 - £15
Assistant Accountant £15 - £19 £20 - £25 £10 - £15
Credit Control Supervisor / Manager £18 - £24 £20 - £25 £15 - £20
Credit Controller £14 - £18 £10 - £15 £10 - £12
Accounts Receivable Supervisor / Manager £18 - £24 £20 - £25 £12 - £15
Accounts Receivable Clerk £12 - £16 £10 - £15 £8 - £12
Accounts Payable Supervisor / Manager £15 - £24 £20 - £25 £10 - £15
Accounts Payable Clerk £12 - £15 £10 - £15 £8 - £12
Accounts Assistant £12 - £16 £15 - £20 £8 - £10
RATES (PER HOUR)
TEMPORARY
COMMERCE & INDUSTRY.
ACCOUNTING & FINANCE (SMEs)
11
Role: London Home Counties Bristol, Cheltenham,
Leamington Spa
& Midlands
Chief Financial Officer £400 - £600 £400 - £600 £400+
Financial Director £400 - £500 £400 - £500 £400+
Financial Controller £400 - £475 £400 - £500 £250 - £380
Financial Planning Analysis Manager £340 - £375 £350 - £400 £250 - £350
Finance Manager £325 - £375 £300 - £375 £200 - £250
Business Analyst £220 - £300 £220 - £300 £180 - £250
Finance Analyst £250 - £330 £250 - £350 £180 - £250
Systems Accountant £250 - £400 £250 - £350 £200 - £250
Group Accountant £250 - £350 £250 - £350 £200 - £300
Financial Accountant £250 - £340 £250 - £350 £180 - £250
Management Accountant £250 - £320 £250 - £350 £180 - £250
ACA top 10 newly qualified £200 - £240 £200 - £250 £200 - £250
ACA non-top 10 newly qualified £190 - £220 £180 - £220 £180 - £220
ACMA newly qualified £200 - £250 £200 - £275 £180 - £220
ACCA newly qualified £180 - £220 £180 - £220 £180 - £220
RATES (PER DAY)
TEMPORARY
COMMERCE & INDUSTRY.
ACCOUNTING & FINANCE (SMEs)
12
Role: London Home Counties Bristol, Cheltenham,
Leamington Spa
& Midlands
Company Accountant £15 - £18 £15 - £20 £20 - £25
Systems Accountant PQ / Finalist £12 - £16 £14 - £20 £14 - £20
Project Accountant PQ / Finalist £15 - £18 £14 - £18 £14 - £20
Business Analyst PQ / Finalist £15 - £20 £10 - £18 £14 - £20
Financial Analyst PQ / Finalist £12 - £17 £14 - £18 £14 - £20
Management Accountant PQ / Finalist £14 - £18 £14 - £18 £14 - £20
Assistant Management Accountant £13 - £18 £12 - £15 £10 - £15
Financial Accountant PQ / Finalist £15 - £18 £14 - £18 £12 - £18
Assistant Financial Accountant £12 - £15 £14 - £18 £10 - £15
Assistant Accountant £13 - £16 £10 - £14 £15 - £16
Credit Control Supervisor / Manager £15 - £17 £12 - £18 £15 - £18
Credit Controller £12 - £15 £9 - £12 £8 - £12
Accounts Receivable Supervisor / Manager £14 - £17 £12 - £18 £10 - £15
Accounts Receivable Clerk £11 - £13 £9 - £12 £8 - £10
Accounts Payable Supervisor / Manager £14 - £17 £12 - £18 £10 - £12
Accounts Payable Clerk £11 - £14 £9 - £12 £8 - £10
Accounts Assistant £12 - £16 £9 - £12 £8 - £10
RATES (PER HOUR)
X
“THERE WAS A 20%
INCREASE IN SENIOR
ACCOUNTING AND
FINANCE HIRING
IN Q1 2011
COMPARED TO Q4
2010 IN LONDON.”
13
PERMANENT
BASIC SALARIES (PER ANNUM)
COMMERCE & INDUSTRY.
SHARED SERVICES
14
Role: London,
Home Counties
& Bristol
Director SSC £70k - £140k
Head of Shared Services £55k - £85k
Finance Group Manager £50k - £75k
Accounting General Ledger Manager £50k - £65k
General Ledger Team Leader £45k - £55k
General Ledger Analyst £35k - £45k
Fixed Asset Accountant £40k - £55k
Accounts Payable / Accounts Receivable Manager £40k - £60k
Accounts Payable / Accounts Receivable Team Leader
/ Supervisor
£30k - £45k
Accounts Payable / Accounts Receivable Assistant £16k - £25k
Credit Manager / Cash Manager £40k - £60k
Credit Supervisor £28k - £40k
Credit Controller £18k - £25k
Role: London Home Counties
Internal Auditor £40k - £45k £35k - £40k
Senior Internal Auditor £45k - £50k £45k - £50k
Internal Audit Manager £55k - £60k £55k - £60k
Head of Internal Audit £60k - £80k £60k - £75k
Director of IA / Business Assurance £80k+ £75k+
IT Auditor £45k - £50k £40k - £45k
IT Audit Manager £50k - £60k £50k - £60k
IT Audit Director £70k+ £70k+
Risk Analyst £45k - £50k £40k - £45k
Risk Manager £50k - £70k £50k - £65k
Director of Risk £70k+ £70k+
Compliance Analyst £35k - £45k £35k - £45k
Compliance Manager £45k - £55k £45k - £55k
PERMANENT
BASIC SALARIES (PER ANNUM)
COMMERCE & INDUSTRY.
INTERNAL AUDIT
15
PERMANENT
BASIC SALARIES (PER ANNUM)
COMMERCE & INDUSTRY.
TAXATION
16
Role: London Home Counties
CORPORATE & INTERNATIONAL TAX
Tax Director £100k - £250k £100k - £200k
Head of Tax £80k - £120k £75k - £100k
Group Tax Manager £65k - £85k £65k - £80k
Tax Manager £55k - £75k £50k - £70k
Tax Accountant £40k - £55k £38k - £50k
Tax Analyst £28k - £40k £25k - £35k
VAT & TRANSFER PRICING
Director £90k - £200k £85k - £150k
Senior Manager £70k - £90k £65k - £85k
Manager £50k - £70k £45k - £65k
Accountant £35k - £50k £32k - £45k
Analyst £28k - £35k £25k - £32k
For more information on salary ranges for other areas of taxation (i.e. employment taxes,
expatriate tax or operations tax) please contact us directly.
TEMPORARY
RATES (PER HOUR)
COMMERCE & INDUSTRY.
TAXATION
17
Role: London
& Home Counties
CORPORATE & INTERNATIONAL TAX
Tax Director £65 - £99
Head of Tax £45 - £70
Group Tax Manager £35 - £50
Tax Manager £30 - £38
Tax Accountant £22 - £30
Tax Analyst £15 - £22
VAT & TRANSFER PRICING
Director £45 - £70
Senior Manager £35 - £50
Manager £28 - £35
Accountant £22 - £28
Analyst £15 - £22
For more information on salary ranges for other areas of taxation (i.e. employment taxes,
expatriate tax or operations tax) please contact us directly.
PROFESSIONAL SERVICES.AUDIT & ASSURANCE
ADVISORY SERVICES
CORPORATE FINANCE & RECOVERY
TAXATION
18
PROFESSIONAL SERVICES.
HIRING MARKET UPDATE
19
MARKET SUMMARY
The first quarter of 2011 saw confidence
in the UK professional services jobs
market increase significantly. This was
largely due to the steady recovery of the
economy plus a general rise in demand
for qualified accountants with specialist
skill sets.
Professional services firms are predicting
steady growth for 2011 and anecdotal
evidence suggests that compliance and
advisory services will be key areas.
Recruitment is high on the agenda for
many firms and ensuring the right people
are brought on board is essential,
particularly in specialist and niche areas.
HIRING TRENDS
There has been increased hiring activity
across all disciplines within the
professional services sector. For
example, the rise in demand for newly
qualified ACAs and CTAs for audit and
tax roles respectively has continued in
2011. There has also been an increased
number of vacancies in specialisms such
as VAT and transfer pricing in the tax
market, as well as not-for-profit and
corporate finance roles in the audit and
advisory markets.
This trend extends beyond the Big Four
and into the mid-tier market. Additionally,
Q1 2011 saw hiring levels increase
across advisory positions within the
financial services sector and a strong
comeback in the corporate finance
market.
TALENT SUPPLY
While hiring demand within professional
services significantly increased in Q1
2011, the availability of talent has
predictably tightened across all
disciplines. Qualified accountants with
track records of clear progression within
a specialist area and strong
communications skills are starting to see
multiple offers on the table.
Many companies have started to give
additional incentives to retain key staff.
Those professionals who are pursuing
career moves are starting to receive
significant uplifts in salary, something
that has not been commonly seen in the
past two years.
SALARY & COMPENSATION TRENDS
On the whole, salaries remained static in
Q1 2011, except in highly sought after
areas. As the supply of talent tightens
further, salaries could increase slightly
across the board. Evidence of this has
already been seen in firms more willing
to consider paying a premium for fee
earners as they will in turn become a
profit centre.
Where salary increases have not been
possible, a number of firms have
implemented additional company
benefits such as flexible schemes and
holiday allowances.
Alex Lawrie
+44 (0)207 092 0023
PERMANENT
BASIC SALARIES (PER ANNUM)
PROFESSIONAL SERVICES.
AUDIT & ASSURANCE
20
Big Four / Top 20 Small & Medium Firms
External Audit: London South East London South East
Senior Manager (5+yrs PQ) £65k - £85k £63k - £80k £60k - £83k £55k - £74k
Manager (3-5 yrs PQ) £54k - £57k £50k - £65k £48k - £60k £45k - £55k
Supervisor/Assistant Manager (1-2yrs PQ) £45k - £52k £43k - £49k £40k - £45k £37k - £45k
Newly Qualified Accountant £43k - £46k £38k - £43k £38k - £42k £34k - £38k
Internal Audit:
Senior Manager (5+yrs PQ) £65k - £85k £63k - £82k - -
Manager (3-5yrs PQ) £54k - £70k £50k - £65k - -
Supervisor/Assistant Manager (1-2yrs PQ) £45k - £52k £44k - £49k - -
Newly Qualified Accountant £43k - £46k £39k - £43k - -
PERMANENT
BASIC SALARIES (PER ANNUM)
PROFESSIONAL SERVICES.
ADVISORY SERVICES
21
Role: London South East
Director £80k - £100k £70k - £90k
Associate Director £65k - £80k £55k - £68k
Senior Executive/Manager £47k - £60k £44k - £55k
Executive £43k - £48k £40k - £45k
X
“THERE HAS BEEN
INCREASED
HIRING ACTIVITY
ACROSS ALL
DISCIPLINES WITHIN
THE PROFESSIONAL
SERVICES SECTOR.”
22
PERMANENT
PROFESSIONAL SERVICES.
CORPORATE FINANCE & RECOVERY
23
BASIC SALARIES (PER ANNUM)
Role: London South East
Senior Manager (5+yrs PQ) £70k - £85k £65k - £80k
Manager (3-5yrs PQ) £55k - £70k £53k - £68k
Supervisor / Assistant Manager (1-2yrs PQ) £48k - £55k £45k - £50k
Newly Qualified Accountant £43k - £46k £40k - £43k
PERMANENT
PROFESSIONAL SERVICES.
TAXATION
24
Corporate Tax Personal Tax
Top Tier: London South East London South East
Partner/Director £140k+ £110k+ £90k+ £75k+
Senior Manager £75k+ £65k - £95k £60k - £75k £50k - £65k
Manager £57k - £72k £49k - £64k £45k - £55k £40k - £50k
Assistant Manager £45k - £55k £41k - £50k £40k - £47k £38k - £45k
Senior £36k - £45k £33k - £41k £29k - £42k £27k - £40k
Semi Senior £22k - £33k £20k - £28k £21k - £28k £19k - £27k
Mid Tier:
Partner/Director £95k+ £90k+ £95k+ £90k+
Senior Manager £65k - £90k £55k - £70k £55k - £85k £50k - £65k
Manager £50k - £65k £40k - £55k £45k - £60k £43k - £55k
Assistant Manager £45k - £52k £41k - £49k £38k - £45k £36k - £43k
Senior £32k - £41k £30k - £38k £27k - £40k £25k - £38k
Semi Senior £21k - £30k £19k - £27k £19k - £26k £17k - £25k
BASIC SALARIES (PER ANNUM)
PUBLIC SECTOR.CHARITY
HOUSING ASSOCIATION
EDUCATION
GOVERNMENT
25
PUBLIC SECTOR.
HIRING MARKET UPDATE
26
MARKET SUMMARY
The last couple of years have seen some
dramatic changes in the public sector
with the ‘job for life’ mentality becoming a
thing of the past. However there are
definitely some rays of light coming
through in certain areas. The not-for-
profit sector has been the most resilient
recently with charities (especially those
with large retail and fundraising sections,
and INGOs) seeing growth. Many
charities that are dependent on
Government funding have experienced
cuts, which are unfortunately set to
continue in 2011.
Larger housing associations have fared
well, with limited cutbacks and in some
cases, plans for expansion. There has
been a more significant effect on smaller
associations, and mergers or transferring
housing stock to larger associations is a
possibility. Government, NHS and
education have been the hardest hit
areas, with cost cutting, mergers,
efficiency savings and funding cuts
leading to recruitment cutbacks.
HIRING TRENDS
Where confidence has increased, in
particular within charities and housing
associations, there has been a push to
focus on permanent rather than contract
hires to increase team stability. There
have been moves towards business
partnering within finance teams, with
customer service recognised as an
essential part of job descriptions.
Finance professionals now have to
ensure they promote their ‘softer’ skills in
addition to their technical knowledge.
Employers are interested in job seekers
with commercial and /or practice
backgrounds, although those with a
combination of private and public sector
experience are most highly sought after.
TALENT SUPPLY
In 2009/10 there was a marked increase
in the number of professionals from the
commercial and financial sectors
considering roles in the public sector,
with many accepting lower salaries in a
trade off for higher job security. Now,
with government cuts and higher
recruitment levels in commerce and
financial services, this trend is being
reversed. As public sector organisations
find it harder to attract suitable
candidates, they are often having to be
flexible in terms of pay or benefits.
SALARY & COMPENSATION TRENDS
In 2009/11 salaries across the board
generally remained stable, with any small
increases in line or just below increases
in inflation. Some of the biggest salary
reductions were for interim and
temporary rates for top level consultants,
particularly for those specialising in
Government and NHS due to an
oversupply of candidates. There are
however still professionals with specific
industry knowledge and skills who are
able to command top rates.
With recruitment across most sectors
picking up in Q4 2010 and Q1 2011, not-
for-profit organisations in particular have
started the process of reviewing salaries
to remain in line with other sectors to
attract top talent. Many organisations
that are unable to increase basic salaries
are investigating other innovative
methods of talent attraction and retention
such as improved benefits, and in some
cases, bonus schemes.
Matt Adams
+44 (0)207 092 0011
PERMANENT
BASIC SALARIES (PER ANNUM)
PUBLIC SECTOR.
27
Role: Charity Housing
Association
Education Government /
NHS
Finance Director (Large co.) £65k+ £80k+ £80k+ £90k+
Finance Director (Medium co.) £55k - £70k £60k - £80k £60k - £80k £65k - £85k
Finance Director (Small co.) £45k - £60k £50k - £65k £50k - £65k £50k - £70k
Internal Audit Manager £50k - £60k £50k - £60k £50k - £60k £50k - £60k
Group Accountant £38k - £50k £45k - £60k £45k - £60k £50k - £70k
Financial Accountant £35k - £45k £38k - £48k £38k - £48k £40k - £50k
Finance Controller (Large co.) £50k - £65k £50k - £65k £50k - £65k £60k - £75k
Finance Controller (Medium co.) £40k - £55k £40k - £55k £40k - £55k £45k - £65k
Finance Controller (Small co.) £35k - £45k £35k - £45k £35k - £45k £35k - £50k
Tax Manager £40k - £55k £40k - £55k £40k - £55k £40k - £55k
Finance Manager £40k - £60k £48k - £65k £40k - £55k £50k - £65k
Systems Specialist £35k - £50k £40k - £55k £40k - £55k £40k - £55k
Internal Auditor £40k - £50k £40k - £50k £40k - £50k £40k - £50k
Analyst £38k - £45k £40k - £50k £40k - £50k £40k - £50k
Management Accountant £35k - £45k £38k - £48k £38k - £48k £40k - £50k
Newly Qualified Accountant £35k - £42k £38k - £45k £38k - £45k £38k - £45k
Part Qualified Accountant £28k - £35k £25k - £38k £25k - £38k £25k - £38k
TEMPORARY
RATES (PER HOUR)
PUBLIC SECTOR.
28
Role: Charity Housing
Association
Education Government /
NHS
Finance Director (Large co.) £40+ £50+ £50+ £55+
Finance Director (Medium co.) £35 - £50 £40 - £55 £40 - £55 £40+
Finance Director (Small co.) £30 - £45 £35 - £50 £35 - £50 £35+
Internal Audit Manager £30 - £35 £30 - £35 £30 - £35 £30+
Group Accountant £20 - £40 £25 - £45 £25 - £45 £30+
Financial Accountant £18 - £35 £25 - £35 £25 - £35 £25 - £45
Finance Controller (Large co.) £30 - £50 £30 - £55 £30 - £55 £40+
Finance Controller (Medium co.) £25 - £45 £30 - £50 £30 - £50 £35+
Finance Controller (Small co.) £25 - £40 £30 - £45 £30 - £45 £30+
Tax Manager £20 - £30 £20 - £30 £20 - £30 £20 - £30
Finance Manager £20 - £35 £25 - £40 £25 - £40 £30+
Systems Specialist £20 - £40 £20 - £45 £20 - £45 £25 - £50
Internal Auditor £25 - £30 £25 - £30 £25 - £30 £25 - £30
Analyst £20 - £30 £25 - £35 £25 - £35 £25 - £45
Management Accountant £18 - £30 £25 - £35 £25 - £35 £25 - £45
Newly Qualified Accountant £18 - £30 £25 - £35 £25 - £35 £25 - £45
Part Qualified Accountant £15 - £25 £18 - £27 £18 - £27 £18 - £30
“THE NOT-FOR-PROFIT
SECTOR HAS BEEN
THE MOST RESILIENT
RECENTLY WITH MANY
CHARITIES SEEING
GROWTH IN JOB
OPPORTUNITIES.”
29
BUSINESS SUPPORTOFFICE SUPPORT
SALES & MARKETING
HUMAN RESOURCES
30
BUSINESS SUPPORT.
HIRING MARKET UPDATE
31
LONDON
Business support employment trends are
set to remain steady in the next 12
months, if a little cautious, as the
economy continues to recover. HR
departments were less affected by the
downturn than administration and
operations, so the noticeable increase in
roles in the past six months have been
within secretarial, administration,
support, sales and marketing. New
positions are being created at PA, EA
and office manager levels due to
increases in business and workloads,
although salaries are stable.
Sectors that are forecasting increased
recruitment activity include IT,
manufacturing and telecoms. Within the
public sector, charities and membership
bodies are looking stronger, whilst
Government, education and the NHS are
still facing challenges.
Whilst there is demand for high calibre
business support professionals, some
companies are erring on the side of
caution with a greater focus on contract
and temp-to-perm positions.
Agency Worker Regulations (AWR) is a
hot topic in the industry right now. The
new rules (effective October 2011) will
change the way contract workers are
employed and will impact contractors,
agencies and operatives, including those
working under umbrella schemes.
Danielle Loader
+44 (0)207 092 0042
HOME COUNTIES
During 2010 the Home Counties
experienced a positive change to the
recruitment landscape for business
support roles. Whilst the traditional
markets of secretarial and PA
recruitment remained strong there was
also an increase in demand for
professionals across other areas such as
sales, marketing and HR.
Companies have maintained this focus
on hiring into 2011 and throughout the
remainder of this year economic
indicators suggest that companies will
look to further strengthen their business
support functions.
Stuart Duncan
+44 (0)175 320 1457
BRISTOL, CHELTENHAM &
SOUTH WEST
There were significant improvements in
the business support hiring market in Q1
2011. The temporary jobs market in
particular has held up well with over 55%
of Bristol job opportunities listed as
longer-term temporary or contract roles.
There has been continued demand for
customer services staff, receptionists
and administrators. HR, sales and
marketing are also recruitment hotspots
as hiring in these areas was relatively
subdued in 2010. Permanent hiring has
also increased in 2011 compared to
2010 but not quite at the same rate as
the temporary hiring market. From a
sector perspective there has recently
been notable hiring activity for legal and
professional services roles.
Tara Heath-Arnold
+44 (0)117 944 0600
Role: London Home Counties Bristol,
Cheltenham
& South West
Executive Assistant £38k - £45k £35k - £40k £28k - £35k
PA £28k - £37k £25k - £35k £22k - £28k
Office Manager £27k - £35k £25k - £30k £20k - £35k
Secretary (including Legal) £23k - £28k £19k - £25k £17k - £22k
Sales Support / Administrator £20k - £25k £18k - £24k £16k - £20k
Receptionist £18k - £25k £16k - £19k £15k - £17k
Customer Service Supervisor / Manager £25k - £40k £20k - £35k £20k - £35k
Call Centre / Customer Service £18k - £22k £16k - £20k £16k - £20k
PERMANENT
BASIC SALARIES (PER ANNUM)
BUSINESS SUPPORT.
OFFICE SUPPORT
32
Role: London Home Counties Bristol,
Cheltenham
& South West
Executive Assistant £16 - £22 £15 - £20 £14 - £17
PA / Office Manager £14 - £18 £12 - £17 £10 - £14
Secretary (including Legal) £13 - £17 £10 - £12 £9 - £10
HR Administrator £12 - £14 £9 - £10 £8 - £10
Sales Support / Administrator £10 - £12 £9 - £11 £8 - £10
Receptionist £8 - £11 £7.50 - £9 £7 - £8
Customer Service £8 - £10 £7 - £9 £7 - £8
Data Entry / Filing Clerk £8 - £10 £7 - £8 £7 - £8
TEMPORARY
RATES (PER HOUR)
BUSINESS SUPPORT.
OFFICE SUPPORT
33
X
“OVER 55% OF
BRISTOL JOB
OPPORTUNITIES
ARE LONGER-TERM
TEMPORARY OR
CONTRACT ROLES.”
34
Role: London Home Counties Bristol,
Cheltenham
& South West
Head of Marketing £60k - £100k £40k - £70k £40k - £60k
Marketing Manager £50k - £70k £30k - £40k £30k - £35k
Marketing Executive £25k - £45k £22k - £30k £20k - £25k
Marketing Assistant £18k - £30k £18k - £22k £15k - £20k
Communications Executive £25k - £35k £25k - £35k £25k - £32k
PR Officer £25k - £35k £25k - £32k £25k - £30k
Digital or Online Marketing Executive £30k - £40k £28k - £35k £25k - £32k
Web Designer £25k - £45k £22k - £30k £20k - £25k
PERMANENT
BASIC SALARIES (PER ANNUM)
BUSINESS SUPPORT.
SALES & MARKETING
35
Role: London Home Counties Bristol,
Cheltenham
& South West
HR Business Partner £55k - £70k £35k - £50k £35k - £50k
HR Manager £40k - £55k £35k - £40k £35k - £40k
HR Officer / Advisor £28k - £38k £25k - £35k £25k - £35k
L&D Co-ordinator £28k - £38k £27k - £35k £27k - £35k
Training Co-ordinator £25k - £32k £22k - £28k £22k - £28k
HR Co-ordinator £25k - £32k £22k - £25k £22k - £25k
Internal Recruiter / Talent Acquisition £28k - £38k £25k - £35k £25k - £35k
HR Assistant £18k - £24k £18k - £22k £18k - £22k
Recruitment / HR Administrator £18k - £22k £17k - £21k £17k - £21k
PERMANENT
BASIC SALARIES (PER ANNUM)
BUSINESS SUPPORT
HUMAN RESOURCES
36
Visit www.morganmckinley.co.uk for more information
SALARY GUIDE | ACCOUNTING, FINANCE & SUPPORT | UK 2011.
UNDERSTANDING THIS GUIDE
SALARY DATA:
The salary ranges in this guide are indications of
what individuals with similar experience might
expect to earn in new roles in 2011. This salary
data is based on placements made during the last
six months, as well as the specialist knowledge of
Morgan McKinley’s consultants.
Salaries listed cover basic salaries only and do not
include bonus payments or benefits. This is due to
the variety of ways in which employers manage pay
and reward.
Please note, the information presented in this
document should be used as a general guide only.
In order to match candidates to the right career
opportunity for them, Morgan McKinley assesses
individuals on all their skills and abilities when
deciding on their suitability for roles with our clients.
SALARY GUIDE INFORMATION
For more specific salary or hiring information, please
visit www.morganmckinley.co.uk or contact your
Morgan McKinley consultant directly.
© 2011 Morgan McKinley Group Ltd all rights reserved. Copy or reproduction
of this material is strictly prohibited. 37
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