Accountancy salaries 2024: 7 graphs to compare your income

Competition for talent is tight as the skills shortage continues. And while some are addressing this issue for outsourcing or offshoring, others are looking to make more competitive offers to attract candidates.

One in five employers has offered substantially higher salaries than they had planned to, and another 53% have made nominally higher offers, recruiter Hays reports.

It’s good news for the few job-seekers in the market. And for graduates looking for that first role, there can be value in considering the specialisations that offer higher graduate salaries – as shown in the chart below – as well as examining salary growth potential through the entire career trajectory.

Employees in accountancy and finance list their top career priority: a pay rise. Two-thirds will be asking for a pay rise, and only one in 10 says there’s no need for pay rises to keep up with inflation.

Amid a cost of living crisis, income is highlighted as household budgets are strained, and those considering switching jobs report their motivations: the rising cost of living and non-competitive salaries.

Employers – particularly the 77% of accountancy and finance employers intending to increase headcount – have their work cut out bringing salaries in line with expectations, and balancing budgets against the need to retain talent.

This is particularly clear in a comparison of employer intentions and employee expectations.

Where 26% of employees believe they deserve a pay rise of more than 10% based on their performance, only 5% of employers plan to award such pay rises. Almost a third of employees, 32%, believe their performance warrants a pay rise of between 7% and 10% – just 17% of employers agree.

In the following graphs, we’ve crunched the salary data to compare typical salaries by function and role across metro and regional areas. Use the dropdown menus to select your region, or a region you’d like to compare to your own.

There are a few surprising results, suggesting that talent may be in shorter supply in areas that are remote from major capitals – a possible boon for those who can relocate to match higher salaries with lower living costs.

All data: Hays Salary Guide FY23/24