Chartered Accountants optimistic and predicting growth

9 October 2013
Media release – for immediate release

Chartered Accountants optimistic and predicting growth

Chartered accountants are optimistic about the economy with two thirds predicting revenue growth in the financial year, according to the annual SmartMove REM and Employment Survey from the New Zealand Institute of Chartered Accountants (NZICA).

This optimism carries through to recruitment with 35% of corporate sector accountants, with three or more direct reports, expecting an increase in staff.

Completed by over 8,600 of NZICA’s members, the survey shows Chartered Accountants are also enjoying a continued increase in remuneration.

At the top of the scale, the Chartered Accountant (CA) salary package has risen by 1.1% to $140,710.

“With an across the board national average increase of 0.8% following on from increases in 2011 and 2012, it is very much steady as she goes in remuneration trends,” says NZICA Chief Operating Officer Kirsten Patterson.

Accounting Technicians had also experienced an increase in remuneration of 2.7% to $78,293, indicating that the relatively new designation was proving of value to employers and employees.

Regional differences
Remuneration in regional North Island has risen most sharply, up 3.3% in contrast to a 1.7% dip for regional South Island. But, Canterbury has continued to rise above the national average for CAs, up 1.3%, in addition to the significant 5.9% spike in 2012.

Salaries remain highest in Auckland and Wellington, up by 0.5% and 1.7% to an average of $153,402 and $142,595 respectively, followed by Canterbury at $135,745.

The figures also show a significant earning gap between islands with the average North Island remuneration at $147,697 compared to $122,319 in the South Island.

While the top earners tend to have the highest levels of job satisfaction, remuneration is not the main source of satisfaction with work challenge and work-life balance topping the list across all salary brackets.

Employers should pay attention to whether their accounting staff are satisfied with their jobs as more than 55% of those dissatisfied are planning to leave their job in the next year.

ENDS

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