UK insolvency and restructuring professionals
have seen the most salary increases across the accounting
profession in the past year following economic difficulties
experienced by the country’s businesses, research has found.
Accountancy and finance recruiter Marks Sattin
who conducted the research found about eight out of 10 accountants
with insolvency experience have experienced an increase in their
salary, which on average is about 17%.
The biggest rise has been across senior
manager and director positions, with bonuses reaching an average of
15%, pushing the average insolvency and restructuring salary to
more than £63,100 ($99,131).
Marks Sattin restructuring and insolvency
division executive consultant Shaila Verma said many accounting
firms are responding to the boom in insolvency work by moving
people from audit work into insolvency.
“As the year goes on and economic uncertainty
prevails, we would expect this trend to continue and expand,” Verma
Second best salary increase is within
transaction services, with 73% of professionals receiving an
increase, followed by 71% of fund management professionals. Among
audit professionals, 68% saw their wage improve in 2011 while the
at the bottom of the ranking are tax and consultancy professionals,
with only 55% and 54% receiving an increase in salary in the past