Accountants Set For Bumper Bonuses This Christmas

Accountants working in Britain’s private sector are set to receive higher-than-expected bonuses this Christmas, according to recruitment firm Ambition.

Research by the group found that on average accountancy professionals are likely to receive 10.8 per cent of their base salary as an end-of-year bonus, which based on the current average salary of £42,000 comes to £4,536 – around £880 more than they expect and more than double last year’s average bonus of £1,974.

The survey of 500 UK businesses also revealed that 60 per cent of firms expect to pay their finance staff bonuses this year, while 80 per cent expect to either pay a bonus or increase staff salaries in 2011.

However, it also showed that finance employees expect their income to rise by an average of 5 per cent over the next twelve months, double what companies’ expect to offer.

Tim Gilbert, managing director of Ambition, said: “Accountants are often the unsung heroes of recessions as they keep a keen eye on the bottom line and help steer companies out of trouble.”

“It’s encouraging to see finance staff getting the rewards they deserve and businesses recognising the effort and contribution that these departments make.”

He added: “There maybe some disappointment from finance teams about the level of salaries next year but it’s important to remember that many staff will have had their pay frozen over the last two years.”

“It’s understandable that staff now want to get their pay back in line but the fact that businesses will be paying higher bonuses than expected will go some way to appeasing any disappointment.”