According to a survey from the Chartered Accountants Leinster Society, eight out of 10 accountants received a “significant” pay hike in the past three years, and average pay for a chartered accountant in Leinster grew 3.1pc to €112,580 last year.
The figures take into account perks such as a car allowance and bonus. Pay rises are being driven by increased competition for qualified staff.
According to the report, out of over 1,000 chartered accountants surveyed, just over eight in ten said they had received a “significant” salary increase in the last three years.
The majority are also expecting to receive a bonus this year, with an average expected gratuity of €22,700, up from €21,800 last year.
“The survey shows strong demand for chartered accountants, with growing earnings potential and considerable career opportunities,” Brian Murphy, chairman of Chartered Accountants Leinster Society, said.
“Chartered Accountancy remains the largest single employer of new graduates in Ireland, and Chartered Accountants Ireland offers a range of flexible entry-routes into the profession, so students can work and learn in a way that best meets their individual needs.”
With near full employment in the country, employers are finding it increasing difficulty to hire and retain qualified staff.
In India also, the pay for the Chartered Accountant has been increased due to significant changes in the tax and corporate laws. According to a statement by the Institute of Chartered Accountants of India (ICAI), 5759 New Chartered Accountants got placements in various companies with an average Salary of 7.4 to 8.5 Lakhs in the last 3 Campus Placement Drives conducted in January and March this year.
Last year, the ICAI has signed a Mutual Recognition Agreement (MRA) with CPA Ireland on October 5, 2018 in Ireland. Signing of the Agreement between ICAI & CPA Ireland would facilitate mutually recognizing the Qualification of each other’s and admit the Members in good standing by prescribing a bridging mechanism between the two Institutes. Under the terms of MRA, an ICAI member in good standing of ICAI can become the member of CPA Ireland on completing and passing 2 online tests in Irish Taxation and Irish Law & Strategy.
