Ukafs salary guide2011_print

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


AUDIT & INSURANCE 20

ADVISORY SERVICES 21

CORPORATE FINANCE & RECOVERY 23

TAXATION 24

PUBLIC SECTOR 25


PUBLIC SECTOR 27

BUSINESS SUPPORT 30


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

E: [email protected]

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

[email protected]

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

[email protected]

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

[email protected]

PERMANENT

BASIC SALARIES (PER ANNUM)


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


ACCOUNTING & FINANCE (Large companies)

6


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


PERMANENT


ACCOUNTING & FINANCE (SMEs*)

7


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


PERMANENT


ACCOUNTING & FINANCE (SMEs)

8


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


TEMPORARY



9


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



10


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



11


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



12


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



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



INTERNAL AUDIT

15

PERMANENT



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)


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.


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

[email protected]

PERMANENT



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



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


CORPORATE FINANCE & RECOVERY

23


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


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


PUBLIC SECTOR.CHARITY

HOUSING ASSOCIATION

EDUCATION

GOVERNMENT

25

PUBLIC SECTOR.


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

[email protected]

PERMANENT


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.


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

[email protected]

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

[email protected]

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

[email protected]

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


BUSINESS SUPPORT.

OFFICE SUPPORT

32


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


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


BUSINESS SUPPORT.

SALES & MARKETING

35


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


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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