Expectations for a salary increase are high in the accounting industry, according to a recruitment consultancy firm survey, with the majority of accounting professionals expecting a pay rise this year.
The Robert Walters’ Salary Survey 2016 report indicated that 83 per cent of accounting professionals are expecting a pay rise this year, compared to 76 per cent of professionals in banking and finance.
However, according to the report, salaries for Sydney tax accountants are expected to remain broadly the same.
Salaries of tax accountants with eight or more years of experience are expected to remain in the $140,000-$170,000 range, while accountant salaries for those with three years or less experience will also remain in the $80,000-$110,000 range.
Salaries for tax accountants in Melbourne are expected to increase slightly with the salary range predicted to increase from $95,000-$130,000 in 2015 to $95,000-$140,000 this year.
The salaries of SMSF accountants in Melbourne are also expected to increase from $70,000-$100,000 in 2015 to $70,000-$110,000 this year.
In terms of recruitment, the report said the market for accounting and finance professionals was largely buoyant throughout 2015.
The research said companies this year will “seek to hire commercially aware accountants with strong technical skills who can advise on financial issues at a senior level”.
The salary of financial advisers in Melbourne is expected to remain in the same range of $70,000-$125,000 during 2016.
Financial planners in Sydney on the other hand are predicted to see an increase in pay, with the salaries of senior financial planners to increase from $100,000-$140,000 in 2015 to $110,000-$150,000 this year and the salaries of financial planners to rise from $75,000-$100,000 to $80,000-$110,000.
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