2016 Practice Salary & Benefits Guide

Jay Davitt, ACA 12.01.2016

A look at the salary ranges for practice professionals working in Ireland in 2016 in general practice, the Big Four and in corporate recovery or insolvency.

Talent shortage at recently qualified and mid-manager levels

Practices from the Big 4 and Top 10 through to the boutique firms are all experiencing growth as clients in financial services, commerce and industry look to build scale, improve processes and drive efficiencies. Practices are expanding in accounting, advisory, financial transformation and risk. As the economy grows, the necessity for practice functions such as corporate finance and transactional services is increasing. By contrast, most institutions (particularly Banking) have completed their debt restructuring processes and the demand for candidates in the areas of insolvency and corporate recovery has lessened.

Practices are continuing to find it difficult to attract and retain talent due to the increasing number of well paid opportunities in industry, especially for employees with three to five years’ experience.  The perceived Employer Value Proposition (EVP) is stronger for industry where roles are considered broader with a better work-life balance.

While initially slow to react, 2015 saw greater flexibility on salaries from Practices as they continue to compete with market trends. Talent Acquisition and hiring managers have improved their approach and are now committed to exploring new ways to make their firms more attractive. There has been a much greater focus on the EVP with Practices giving more emphasis to their brand.  Practice continues to provide a training environment that is unrivalled by any other sector 

Forecasted economic growth for 2016 bodes well for this sector. To remain competitive in securing relevant talent, they will need to react faster than their competitors to changes within Industry, particularly in areas such as salary increases and benefits offered.

We anticipate that salaries will increase in 2016 as a result of counteroffers as Practices move to retain talent.

 

General Practice

RoleYears' ExperienceDublin
Cork
Limerick
Waterford
Audit Director5+75,000 - 100,00065,000 - 85,00055,000 - 70,00055,000 - 70,000
Audit Manager0 - 355,000 - 60,00045,000 - 55,00040,000 - 45,00040,000 - 45,000
3 - 560,000 - 65,00055,000 - 60,00045,000 - 55,00045,000 - 55,000
5+65,000 - 75,00055,000 - 65,00050,000 - 55,00050,000 - 55,000
Audit Assistant Manager0 - 345,000 - 55,00040,000 - 45,00035,000 - 40,00035,000 - 40,000
Audit Senior5+40,000 - 45,00034,000 - 40,00032,000 - 35,00032,000 - 35,000
Audit Semi Senior3 - 525,000 - 35,00025,000 - 30,00019,000 - 23,00019,000 - 23,000
Audit Trainee0 - 318,000 - 24,00016,000 - 20,00015,000 - 20,00015,000 - 20,000

Big Four

RoleYears' ExperienceDublin
Cork
Limerick
Waterford
Audit Director5+85,000 - 120,00080,000 - 115,00075,000 - 95,00075,000 - 95,000
Audit Senior Manager / Assoc Director5+70,000 - 85,00065,000 - 80,00065,000 - 75,00065,000 - 75,000
Audit Manager5+65,000 - 75,00055,000 - 65,00055,000 - 65,00055,000 - 65,000
Audit Assistant Manager3 - 550,000 - 60,00045,000 - 55,00045,000 - 50,00045,000 - 50,000
Audit Senior5+45,000 - 50,00040,000 - 45,00038,000 - 43,00038,000 - 43,000
Corporate Finance Manager0 - 365,000 - 70,00060,000 - 65,00055,000 - 60,00055,000 - 60,000
3 - 570,000 - 75,00065,000 - 70,00060,000 - 65,00060,000 - 65,000
5+75,000 - 85,00070,000 - 75,00065,000 - 70,00065,000 - 70,000
 

 

RoleYears' ExperienceDublin
Cork
Limerick
Waterford
Corporate Recovery Director5+90,000 - 120,00090,000 - 110,00080,000 - 100,00080,000 - 100,000
Corporate Recovery Manager0 - 360,000 - 65,00060,000 - 65,00055,000 - 60,00055,000 - 60,000
3 - 565,000 - 75,00065,000 - 70,00060,000 - 70,00060,000 - 70,000
5+75,000 - 80,00070,000 - 75,00070,000 - 75,00070,000 - 75,000
Corporate Recovery Senior3 - 540,000 - 50,00040,000 - 45,00038,000 - 42,00038,000 - 42,000
Transfer Pricing Specialist0 - 335,000 - 50,00025,000 - 45,00025,000 - 42,00025,000 - 42,000
3 - 550,000 - 75,00045,000 - 70,00042,000 - 65,00042,000 - 65,000
5+75,000 - 90,00070,000 - 80,00065,000 - 75,00065,000 - 75,000

 

Typical range of benefits for practice professionals:
 
Benefit TypeManagementNon-Management
Pension7% defined contribution (employer matches)Very unlikely to be offered
HealthcareBig 4 normally offer flexi-benefits worth circa €3,600 with healthcare an option to takeUnlikely to be offered, maybe discount (10%) as part of group scheme
BonusBonuses are discretionary but 10-15% is standardUnlikely
Annual Leave24/25 days22 days
Life Assurance4 TIMES BASIC SALARY standard4 times salary
Otheronsite canteen, travel tax scheme etcCanteen, flexi-benefits
 
Jay Davitt's picture
Manager | Accountancy & Finance
jdavitt@morganmckinley.ie

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