Junior accountants will take home the biggest pay increases of any City roles during 2018, according to analysis of the top 10 jobs for pay rises to be published today – even beating finance directors and their more senior colleagues.
Beancounters with less than three years' experience will enjoy a 4.2 per cent salary rise this year, according to City recruitment firm Robert Half.
The forecasts, based on interviews with senior financial services executives, show average salaries for accountants of rising by more than £10,000 to hit £65,750, the biggest rise in a list dominated by finance roles as firms struggle to find talent.
Top 10 City jobs for pay rises in 2018
| Role | Salary rise forecasts | Salaries before and after |
| Accountant (not qualified to three years’ qualified experience) | 4.20% |
£52,500 - £65,750 |
| Chief financial officer/group financial director | 4.00% |
£86,500 - £100,000 |
| Senior financial controller | 4.00% |
£44,500 - £54,000 |
| Risk associate | 3.30% |
£48,000 - £60,500 |
| Operations manager | 3.20% |
£78,000 - £117,000 |
| Accountant (four to seven years' qualified experience) | 3.10% |
£70,000 - £95,000 |
| Assistant management/financial accountant | 2.90% |
£22,000 - £32,000 |
| Tax specialist | 2.60% |
£43,000 - £65,750 |
| Finance director | 2.60% |
£95,000 - £176,500 |
| Systems accountant | 2.50% |
£49,000 - £65,000 |
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Chief financial officers will receive pay rises of four per cent along with senior financial controllers, the survey found, as tough competition for highly trained roles is exacerbated by an already-tight labour market.
Matt Weston, a director at Robert Half UK, said: “The skills shortage continues to be felt industry-wide and is a trend that is likely to continue into the foreseeable future. With finance automation, changing regulations and a driving need for greater efficiencies, firms are focused on attracting and holding onto top talent.
“In a bid to attract highly skilled professionals, many financial services firms plan to prioritise salary increases and bonus payments tied to performance over standard benefits this year.”
Risk associates will receive 3.3 per cent pay rises and operations managers 2.9 per cent, the forecasts show.
Meanwhile, accountants looking to move on to the next stage of their careers, with four to seven years of experience, will see a 3.1 per cent salary bump, Robert Half found.
Read more: UK pay growth will accelerate, insists Bank of England's Michael Saunders
