22% of Accounting professionals feel they are unfairly remunerated

As supporters of our industry, we were delighted to attend and sponsor the recent annual CPA Congress. Over the three days, we also conducted a quick poll of the attendees. We asked everyone who dropped by our booth two simple questions:

• Do you feel you’re fairly remunerated for your work?
• What do you like best about your workplace?

The results gave us some great insights into Accounting salaries and what people see as important in their current workplace.

Remuneration

As it turned out, although the majority of respondents (70%) were happy with their pay, 
there were still a significant number who were not satisfied with their salary. Over 22% of people disagreed that they were paid fairly, with a further 8% unsure if their salary was fair or not.

30% of respondents being either unhappy or unsure about their pay is a significant number. Put into context, it could mean that 30% of your workforce is currently looking for a job elsewhere; assuming that remuneration is the only reason they are unhappy.

Workplace priorities

Another interesting insight was what people liked most about their current workplace. The most popular choice, by a long way, was “People”. 40% of respondents in fact. This was followed by 18% of respondents choosing “Location”.

These two choices were by far the most important to respondents and quite a way ahead of “Remuneration,” (7%) which was 5th behind “Variety of Work” and “Development and Growth” (both 9%).

The full ranked list was as follows:

• People
• Location
• Variety of Work
• Development and Growth
• Remuneration
• Appreciation in the Workplace
• Highly Ethical Organisation
• Management
• Fringe Benefits
• Social Activities

Summary

If, like 30% of the respondents in our survey, you’re either unhappy or unsure about your remuneration, then be sure to visit our Salary Survey site and find out how you compare to other Sydney Accounting professionals. Our survey aims to provide the most comprehensive analysis of Accounting salaries in the Sydney market and can help you decide whether you’re paid proportionally. Take the survey, and find out your true market value, here.

Thanks once again to everybody we spoke to at the CPA Congress; you’ve helped us draw some great insights into the Sydney Accounting sector and the people within it. It was also great to catch up with some of our clients and candidates that we have helped over the years.

For more industry insights and helpful advice for Accounting professionals, take a look at the Richard Lloyd blog.

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Be prepared for the situation that an employee asks you for a pay rise by reading How To Respond To A Pay Rise Request.