UK accountants anticipate £4 billion bonus in 2016

UK accountants should be extremely happy at present, as they can expect a share of £4 billion in bonuses in 2015 and 2016 – a massive increase of £2 billion annually.

The average accountant should expect a 22% bonus in 2016, which is the equivalent of an impressive £14,758. This individual bonus increase amounts to a 38% rise from last year, according to Marks Sattin.

Around 81% of accountants expect to receive a bonus this year – considerably higher than last year’s where 55% were in a similar position. Graduates considering the financial or accounting sectors should therefore take note of the fact they are currently thriving.

A survey of accountancy professionals revealed the average bonus estimated in 2016 now stands at 22% of an accountant’s basic salary. This is the largest bonus to be offered in monetary terms since 2010/2011 and signifies an upsurge of £4,025.

The £4 billion bonus pot is based on the latest figures from the Financial Reporting Council relating to the number of accountants working in the UK. It provides a welcome boost for those in the industry but also acts to encourage graduates to consider accountancy in the long term.

So why such an upsurge? The answer to this question is a very simple one. Today’s bonuses have been sustained by a number of general developments in the UK’s financial position during the past 12 months. The International Monetary Fund states the UK budget will grow by 2.5% in 2015, as the economy continues to recovery from the recession.

This suggests accountancy roles to be a safe bet for the future and those considering studying such a subject at university may be on to a winner! Many firms offer additional training in house as well, enabling people to upskill very quickly.

If you’re looking for your next graduate role, speak to Discovery Graduates today