CMA 2022/2023 Salary Guide – How does your wage stack up?
How does your salary stack up against the average in your profession? How about that of your employees? Every year we benchmark roles across the accountancy and finance sector to ascertain the remuneration levels and trends. This helps both employees and employers ensure they are receiving – and paying – a competitive sum.
This year we’ve seen increases on many roles across our region. This is in-line with and, in some cases exceeding, the UK national average. According to the Office for National Statistics, growth in average total pay (including bonuses) was 6.2%, and growth in regular pay (excluding bonuses) was 4.3% among employees in March to May 2022.
Of course when taking into account inflation, which as we know is the highest in 40 years, what does this mean in real terms? The ONS says: “in March to May 2022, growth in total and regular pay both fell on the year, at 0.9% for total pay and 2.8% for regular pay; this was a record fall for regular pay”.
The good news is that according to ONS the finance and business services sector showed the largest growth rates at 8.2%, partly because of strong bonus payments.
We’ve surveyed companies across the CMA region to determine current salary levels and are delighted to bring you a comprehensive breakdown of the results. Read our latest Salary Guide in full here.
Accountancy and Finance
What can you expect to earn – or pay – for roles within the accounting and finance sector in Hampshire, Dorset, Surrey and West Sussex? We’ve included the results for over 30 job titles within the sector, broken down by region in the Salary Guide. Some of the examples can be read below.
Management Accountant – Average salary £38 – 55,000 (Southampton, Portsmouth & Bournemouth), £43 – 55,000 (Basingstoke & Guildford)
Sales/Purchase Ledger – Average salary £23 – 26,000 (Southampton, Portsmouth & Bournemouth), £23 – 30,000 (Basingstoke & Guildford).
CIMA/ACCA:
- Part Qualified – Average salary £32 – 37,000 (Southampton, Portsmouth & Bournemouth), £35 – 40,000 000 (Basingstoke & Guildford).
- Newly Qualified – Average salary £40 – 48,000 (Southampton, Portsmouth & Bournemouth), £45 – 50,000 (Basingstoke & Guildford).
AAT Qualified – Average salary £25 – 30,000 (Southampton, Portsmouth & Bournemouth), £27 – 30,000 (Basingstoke & Guildford).
Executive level finance
When it comes to the board room – what salary can you expect to pay for your executive management team? Group FD/CFO, Head of Finance/FC, Head of Treasury – whether your business is an SME or a global entity, we’ve got all of the data you need.
Here’s what you can expect to pay – or earn – as a Finance Director in our region, depending on the size and scale of the organisation. You’ll find the full breakdown per organisational size, with all the key executive salary results in our complete Salary Guide.
SME (owner managed): Group FD/CFO – Average salary £90 – 200,000. Average base: £116,000. Daily rate (Ltd Co.) £350+
SME (private equity backed): Group FD/CFO – Average salary £120 – 200,000. Average base: £130,000. Daily rate (Ltd Co.) £400+
Corporate (£100m to £500m): Group FD/CFO – Average salary £150 – 350,000. Average base: £250,000. Daily rate (Ltd Co.) £700+
Corporate (£500m+): Group FD/CFO – Average salary £200 – 350,000. Average base £250,000. Daily rate (Ltd Co.) £1,000+
In addition to these roles covered in the accountancy and finance sector, you’ll also find a breakdown in the Salary Guide on both the HR and Practice sectors from our experts in these divisions.