docyour free copy of the 2015 AAT Salary and Career Survey.
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your free copy of the 2015 AAT Salary and Career Survey.
The 2015 AAT Salary and Career Survey See results Contents The 2015 Salary and Career Survey allows us to understand our diverse membership – from those starting their journey with us as AAT students through to fellow members who have worked within the accounting profession for many years. It also gives a good indication of how AAT members contribute not only to the accountancy profession but to the overall economy, as well as revealing other key factors that matter to the membership at different stages of their working lives. The last survey was conducted in 2013. Salary by AAT membership level Bonus by AAT membership level Salary by region Salary by age Full and part-time salaries by gender Salary and company benefits by industry: Public sector Salary and company benefits by industry: Private sector (accountancy firms) Salary and company benefits by industry: Private sector (non-accountancy firms) Salary and company benefits by industry: Not-for-profit sector Salary by job level Salary by company size Members’ career intentions for the next year Job satisfaction and security Overall annual income of MIPs MIP fee income by practice size Methodology Use the navigation bar below to easily find your way through the full report. Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 2 Average basic salary for each level of AAT membership Average salaries of AAT members increase as they progress through the different stages of their membership journey. The market looks more positive for AAT members this year compared to 2013: average full-time salaries have increased for all levels of membership since 2013. Base: 2,570 311 5,883 ££335, £ £1 188,00 ,000 0 ££2277,0,000 Median salary ££2 211,0 ,0000 0 Introductory Introductory £17,865 £17,865 Intermediate Intermediate £18,563 £18,563 Advanced Advanced £20,940 £20,940 Affiliate Affiliate £21,875 £21,875 MAAT MAAT £29,925 £29,925 FMAAT FMAAT £38,225 £38,225 Introductory Introductory £18,000 £18,000 Intermediate Intermediate £17,500 £17,500 ££1177,5,5000 Mean salary 0 ,000 2 0,0 0 £ £20 Advanced Advanced £20,000 £20,000 Affiliate Affiliate £21,000 £21,000 MAAT MAAT £27,000 £27,000 FMAAT FMAAT £35,831 £35,831 These salaries are for AAT members working full-time (non-MIPS). Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 3 Average bonus received within the last two years 34% of AAT members received a bonus within the last two years. This is an increase of 2% since 2013. Average bonuses typically represent 7% of average salaries. Base: 893 £1,235 £1,282 £2,212 Student member Affiliate member F/MAAT These bonuses represent the mean for AAT members who are working full-time (non-MIPs). Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 4 Salary by UK region London is the top paying region across all membership levels. The greatest difference in average salary is at F/MAAT level between London and the North East: average salaries are 54% higher in London. Base: 2,956 East Midlands North East South East West Midlands Student member £16,297 Student member £17,437 Student member £19,648 Student member £16,465 Affiliate member £19,766 Affiliate member £20,073* Affiliate member £22,603 Affiliate member £19,435 F/MAAT member £26,212 F/MAAT member £25,516 F/MAAT member £32,719 F/MAAT member £25,843 East of England North West South West Yorkshire/Humber Student member £17,941 Student member £16,239 Student member £17,923 Student member £17,433 Affiliate member £21,401* Affiliate member £20,023 Affiliate member £19,677 Affiliate member £19,993 F/MAAT member £29,766 F/MAAT member £26,877 F/MAAT member £28,000 F/MAAT member £26,107 London Scotland Wales Student member £23,184 Student member £22,709* Student member £17,217* Affiliate member £25,913 Affiliate member £20,633* Affiliate member £18,846* F/MAAT member £39,253 F/MAAT member £32,149* F/MAAT member £26,750 Scotland North East North West Yorkshire / Humber East Midlands Wales West Midlands East of England London South West South East These salaries represent the mean for all AAT members (non-MIPS). *Low sample size of less than 30 respondents Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 5 Salary by age As would be expected, salaries and bonus increase by age bracket. Having seen a dip in average salaries in 2013 across most age brackets, this year the picture is more positive: the only age bracket which is static is for those aged 16-18. All other age brackets have seen an increase. £31,134 £29,772 55+ years 45–54 years £26,487 35–44 years £23,107 25–34 years £17,157 19–24 years £8,688 16–18 years These salaries represent the mean for all AAT members (non-MIPS). Base: 2986 Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 6 Did you know... In Ancient China, the first money took the form of small knives and spades made of bronze. Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 7 Full and part-time salaries by gender The gender pay gap is still very evident: the full-time male salary is 18% higher than the female equivalent. An equal proportion of full-time men and women have received a bonus within the last two years. Base: 2,986 Male £27,189 Full-time Female £23,000 Full-time Male £22,539 Part-time Female £17,719 Part-time The gender pay gap is still very evident: the average full-time salary is 18% more for men. Female £23,000 Male £27,189 These salaries represent the mean. Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 8 Salary and company benefits by industry The public sector has seen greater increases in average salaries than both areas of the private sector (accountancy firms and non-accountancy firms): 10% increase compared to 6% and 7% respectively. Public sector Public sector: Private sector (accountancy firms): Private sector (non-accountancy firms): Not-for-profit sector: The average salary in the public sector is £24,995 £24,995 £20,789 £25,161 £25,547 Company benefits currently received by AAT members Company pension scheme Courses paid for by your employer Flexi-time Paid time off to study A maternity package offering more than statutory Family-friendly policies 79% 54% 53% 34% 26% 22% Incentive for completing AAT Accounting Qualification Private healthcare Life assurance 13% 12% Car/car allowance 11% Incentive for becoming an AAT full member 6% 6% Stock options 2% Base: 622 Salaries represent the mean. Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 9 Salary and company benefits by industry Private sector – accountancy firms Public sector: Private sector (accountancy firms): Private sector (non-accountancy firms): Not-for-profit sector: The average salary in the private sector (accountancy firms) is £20,789 £24,995 £20,789 £25,161 £25,547 Company benefits currently received by AAT members Courses paid for by your employer Company pension scheme Paid time off to study Flexi-time Private healthcare Incentive for completing AAT Accounting Qualification 62% 43% 37% 25% 18% 12% Life assurance Family-friendly policies 12% Incentive for becoming an AAT full member 7% 5% Car/car allowance A maternity package offering more than statutory 5% 3% Stock options 2% Base: 679 Salaries represent the mean. Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 10 Salary and company benefits by industry Private sector – non-accountancy firms The average salary in the private sector (non-accountancy firms) is £25,161 Public sector: Private sector (accountancy firms): Private sector (non-accountancy firms): Not-for-profit sector: £24,995 £20,789 £25,161 £25,547 Company benefits currently received by AAT members Company pension scheme Courses paid for by your employer Private healthcare Paid time off to study Life assurance Flexi-time 62% 50% 32% 23% 22% 16% Family-friendly policies Incentive for completing AAT Accounting Qualification A maternity package offering more than statutory 8% 8% 12% Car/car allowance Stock options 7% 6% Incentive for becoming an AAT full member 3% Base: 1,451 Salaries represent the mean. Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 11 Salary and company benefits by industry Average salaries are highest in the not-for-profit sector compared to other core sectors. This sector has also seen the greatest increase since 2013 – a 13% rise for average salaries. Not-for-profit sector Public sector: Private sector (accountancy firms): Private sector (non-accountancy firms): Not-for-profit sector: The average salary in the not-for-profit sector is £25,547 £24,995 £20,789 £25,161 £25,547 Company benefits currently received by AAT members Company pension scheme Courses paid for by your employer Flexi-time Paid time off to study Family-friendly policies 80% 46% 37% 23% 21% Life assurance A maternity package offering more than statutory Incentive for completing AAT Accounting Qualification 20% 18% 7% Car/car allowance Incentive for becoming an AAT full member 3% 2% Private healthcare 21% Stock options 0% Base: 220 Salaries represent the mean. Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 12 Did you know... Pound sterling was introduced in 1158, and is the world’s oldest currency still in use. Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 13 Salary by job level The average salary has increased at all job levels except for Administrator roles. Those in Senior/ Middle manager roles are significantly more likely to have received a bonus than those at other levels: 41% compared to 26% at Administrator level. £16,348 £18,203 £23,826 £25,354 £28,018 £33,303 £43,463 Administrator Account /Finance Assistant Accounts /Finance Officer Team Leader /Supervisor Junior Manager Middle Manager Director/Senior Manager Base: 2,986 Salaries represent the mean. Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 14 Salary based on size of business worked in Generally, the larger the company, the greater the average salary and bonus. Average salaries are 35% higher in large companies compared to small companies (with 1-10 employees). 34% of those in small companies and 31% in large companies have received a bonus. Base: 2,986 1-10 employees £19,399 11-50 employees £23,660 51-250 employees £25,160 250+ employees £26,267 Salaries represent the mean. Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 15 Did you know... Apple earns 3,000 US Dollars per minute. Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 16 Members’ career intentions for the next year Overall, more than half (53% of those surveyed) intend to stay in the same job with the same employer. Almost a quarter (23%) plan to change employers. Full-timers and younger members are the most likely to be seeking promotion with their employer. Base: 3,010 16-18 19-24 Ages 16-18 25-34 Ages 19-24 32% Seek promotion with employer Move to different employer within current industry Remain with current employer in the same job 9% 48% 35-44 Ages 25-34 Ages 35-44 Seek promotion with employer 28% Seek promotion with employer 15% Seek promotion with employer Move to different employer within current industry 14% Move to different employer within current industry 11% Move to different employer within current industry 13% Move to different employer within current industry Remain with current employer in the same job 44% Remain with current employer in the same job 45% Remain with current employer in the same job 56% Remain with current employer in the same job 12% Move to different employer outside current industry 15% Move to different employer outside current industry Other Move to different employer outside current industry 9% Move to different employer outside current industry Other 2% Other 1% Other Member level Ages 55+ 31% 9% Bonus Region Age Gender Sector 3% Job level Company size Other Career intentions 55+ Ages 45-54 Seek promotion with employer Move to different employer outside current industry Salary by: 45-54 2% Job satisfaction MIPs Methodology 9% Seek promotion with employer 7% 11% Move to different employer within current industry 5% 67% Remain with current employer in the same job 68% 8% Move to different employer outside current industry 11% 5% Other 9% Back to contents 17 Job satisfaction and security 78% of full and fellow members are very/quite satisfied with their job. This compares to 71% of students. Job satisfaction Job security Base: 3,010 74% 82% 26% 18% Very/quite secure Very/quite satisfied Not very/not at all secure/undecided Not very/not at all satisfied/undecided Salary by: Member level Levels of job satisfaction amongst AAT members have been increasing since 2011. Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 18 Overall annual income of MIPs A MIP is an AAT full or fellow member licensed to offer accountancy, taxation or related consultancy services to the public. There are over 4,000 AAT members in practice (MIPs) currently practising in the UK Below is a breakdown of average annual income for AAT MIPs who work for themselves through our scheme for members in practice. MIPs who are self-employed only MIPs who have a practice and are also employed Due to a small number of MIPs who have very high incomes which have pushed up mean incomes, this section details median income rather than mean incomes. This is a better indicator of the average income of the majority of MIPs. For MIPs who are purely self-employed, the average fee income has risen 16% from 2013. Average bonus £600 £600 Average fee income £6,500 £6,500 Average fee income £40,000 Average salary £23,000 £23,000 Base: 349 for MIPs who are self-employed only Salary by: Member level Bonus Base: 124 MIPs who have a practice and are also employed Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 19 MIP fee income by practice size Percentage of MIPs employed as well as having their own practice Base: 336 Average fee income by practice size (MIPs who are self-employed only) 26% 74% Employed as well as having own practice Self employed only £25,683 £64,000 £438,012* 1 person 2-10 people 11-30 people *Low sample size of less than 30 respondents Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 20 Decimalisation in 1971 divided the pound into a hundred pence. Prior to this, each pound was divided into 240 pence. Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 21 Methodology For the 2015 AAT Salary and Career Survey, two online surveys were conducted in March 2015: one with AAT’s student, affiliate, full and fellow members (excluding members in practice) in the UK, and the other with AAT’s members in practice. Bonus calculations AAT Average bonus figures relate to the mean bonus for those who received one within the last two years. Those who were not eligible for a bonus and those who were but did not receive one, were not included in the calculations. AAT is the UK’s leading qualification and membership body for accounting staff. We work across the globe with around 130,000 members in more than 90 countries. Our members are represented at every level of the finance and accounting world, including students, people already working in accountancy and self-employed business owners. Any questions? If you’ve any questions about the survey, please email us at [email protected] All MIPs, plus a sample of just over 28,000 AAT non-practising members were invited to take part in these two surveys. A total of 3,112 responses were received for the main (non MIP) survey and 494 from MIPs. Want to become AAT qualified? Broken down by key demographic categories (such as membership level, age and gender), the survey base shows an accurate representation of AAT’s membership base. Whether you’re just starting out, looking for a promotion or changing career, our wide-ranging accounting and finance qualifications provide a highly transferable skillset so you can flourish in any industry or role. If you want to gain a recognised qualification, and boost your salary and career prospects in the process - AAT is the right place to start. The research work for this project was undertaken by an independent market research consultancy, Caledonia Market Research. Join the thousands of students who set off on this path every year, and order your free prospectus at aat.org.uk/ss15 AAT is a registered charity. No. 1050724 Salary by: Member level Bonus Region Age Gender Sector Job level Company size Career intentions Job satisfaction MIPs Methodology Back to contents 22
