Pay rising for newly quals

Newly qualified accountants can rest assured that all that gruelling study pays off in the end. Salary levels are reaching new highs as demand for accountants within Ireland's financial services sector continues to escalate.

The appetite for accountants is being fuelled by the growing amount of regulation and reporting standards which companies have to tackle, according to Caroline Hogan of the Accountant's Panel, a recruitment firm.

In particular, areas such as corporate banking, and within this treasury, are "crying out" for qualified accountants, Caroline tells eFinancialCareers.ie

Currently there is a lack of candidates from newly qualified accountants to those with two or three years PQE (post qualification experience), and salary expectations have jumped accordingly.

"A few years ago you'd get a newly qualified accountant for €40,000 to €45,000. Now you will get a qualified accountant for absolute minimum €45,000 and that would be with someone coming out looking to get their first role," says Caroline. "If you're looking for someone with one year's PQE you're talking €50,000 - €55,000."

Reinsurance is another area where demand for accountants is particularly acute. It can be difficult to find candidates with relevant experience in this specialised area, Caroline explains, so companies are often forced to "look outside the box" to candidates within the banking environment or general insurance.

Brendan Allen, vice president of the Institute of Certified Public Accountants, adds: "With salary rates on the increase, market demand stronger than ever and the profession offering increasingly diverse and attractive career opportunities, accountancy is fast becoming the career of choice for the ambitiously minded individual".