* CFOs and financial controllers set for the biggest increases in
starting salaries in Wales
* Businesses willing to pay a premium for those with the right skills
and experience
CARDIFF, THURSDAY 5TH OCTOBER 2017 – Demand for highly-skilled
finance professionals means those in the accounting and finance sector
are set to experience the most significant starting salary increases
in Wales, compared to other professional occupations. According to
the ROBERT HALF _2018 SALARY GUIDE_ [2], the competitive market for
high-performing talent within accounting and finance is set to drive
salaries for chief financial officers (4%), financial controllers (4%)
and risk associates (3.3%) in Wales higher in 2018. Similarly, skilled
administrative professionals in Wales are also expected to see an
increase in salaries over the next year. HR business partners and
executive assistants are set to see salaries rise by 3.7% and senior
administrative assistants by 3.1%.
“In the last few years, we’ve seen the Welsh economy aim to
reinvent itself in response to change and the next year will once
again test the resolve of Welsh businesses. Brexit, automation,
digital transformation and meeting data regulations are just some of
the local, regional and international factors that will need to
navigated,” explained GARETH GAGE, DIRECTOR, WALES, ROBERT HALF UK.
“However, the shortage of specialist skills remains a challenge with
low skills and productivity being blamed for the growing productivity
gap. In an effort to win the war for top talent and boost economic
output, organisations are willing to pay a price for those with the
right skills to support their business goals.”
| TABLE ONE: AVERAGE SALARY INCREASES IN WALES, BY PROFESSIONAL OCCUPATION IN 2018 OCCUPATION IN 2018 | |||
| INDUSTRY | Administrative and office support | Accounting and finance | National Average |
| AVERAGE STARTING SALARY INCREASES | 19.0% | 1.4% | 1.4% |
| ADMINISTRATION AND OFFICE SUPPORT | |||
| In line with growth plans, businesses are recruiting mid-level | |||
| administrative and office professionals with the industry experience | |||
| and systems knowledge in areas such as Microsoft, SAP and CRM to | |||
| provide specialist support. Permanent, professional-level employees | |||
| can expect to see a salary increase and often a bonus structure linked | |||
| to the success drivers of the position. | |||
| TABLE TWO: ADMINISTRATION AND OFFICE SUPPORT HIGHEST SALARY RISES BY ROLE IN WALES | |||
| TOP THREE | HR business partner | Executive assistant | Senior administrative assistant |
| 2017 WALES AVERAGE | £28,350 – £ 45,225 | £26,100 – £ 35,100 | £16,200 – £27,000 |
| 2018 WALES AVERAGE | £29,925 – £46,350 | £ 27,900 – £35,550 | £16,650 – £27,900 |
| % Change | 3.7% | 3.7% | 3.1% |
| ACCOUNTING AND FINANCE | |||
| Financial controllers and risk associates who can combine technical | |||
| skills with commercial awareness and business acumen are sought after | |||
| as firms focus on improving the overall productivity of the finance | |||
| function. There is also growing demand for CFOs who can transform | |||
| finance and introduce greater automation. On the whole, starting | |||
| salaries within finance and accounting will increase over the next 12 | |||
| months and those professionals with specialist skills or | |||
| industry-specific experience are likely to benefit from the greatest | |||
| increase. | |||
| TABLE THREE: ACCOUNTING AND FINANCE HIGHEST SALARY RISES BY ROLE IN WALES | |||
| TOP THREE | Chief financial officer/Group finance director (SME) | Financial controller (SME) | Risk Associate (large company) |
| 2017 WALES AVERAGE | £77,400 – £90,000+ | £37,350 – £47,925 | £42,300 – £52,200 |
| 2018 WALES AVERAGE | £77,850 – £90,000+ | £40,050 – £48,600 | £43,200 – £54,450 |
| % Change | 4.0% | 4.0% | 3.3% |
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