AAT Salary Survey shows significant rises for members
9 July 2019
Average salaries for accounting technicians up 8% since 2017
The AAT Salary Survey 2019 has shown significant average full-time salary rises for members across all levels.
The survey, run every two years, showed an 8% increase to an average UK annual salary of £29,000 for AAT professional members. Professional members' salaries rose sharpest in the West Midlands and the South West, both of which saw an average of 12%. Affiliate members saw an average rise of 7% (to £23,500) while student salaries also performed very healthily, rising by 6% since 2017 to £20,000. The figures mean that those who progress through to full membership of AAT can expect to earn nearly a quarter (23%) more than the average affiliate member.
AAT Licensed Accountants who are purely self-employed and working full-time can expect an average annual practice fee income of £54,000, a full 9% increase on 2017.
A third (33%) of members received a bonus in the past year - up 1% from two years ago. Full and fellow members received an average £1,000 bonus, while student members received an average of £500. Just under a quarter (24%) are currently on a regular bonus scheme.
Gender pay gap compares favourably to national levels
For AAT full members, there is a gender pay gap of 5% in favour of men in full-time employment, a rise of 3% since 2017. However, this compares favourably to the latest UK gender pay gap figures of 8.6% for full-time employees and 14% for full-time employees in financial and accounting technician roles.
In tandem with previous surveys, the gap among AAT members is reversed at student level (where females earn 8% more than males) and affiliate level (where women can expect to earn 6% more). Across all levels, 68% of men working full-time have seen a salary increase in the past 12 months, compared to 65% of women.
AAT members working in the private sector do best in terms of receiving bonuses (38%) in the last year. However, it is the not-for-profit sector that pays the best full-time salary, averaging £25,179 compared to £24,000 for those working in the private sector (non-accounting practices).
Salaries also rise with company sizes. A student working in a micro-business will earn around £18,000 with a professional member on a salary of £26,000. But at large firms these figures are approximately 15% higher, with students earning £20,500 and professional members receiving a wage of £30,000.
Job satisfaction remains similar to 2017
AAT Licensed Accountants who are purely self-employed have the highest levels of job satisfaction, as per previous AAT salary surveys, with 92% saying they are very or quite satisfied in 2019 (93% in 2017).
Those in the most senior positions experienced the greatest job satisfaction, with 87% of directors/senior managers and 82% of middle managers declaring themselves satisfied - compared to just 60% of those in an administrative role.
However, feelings of job satisfaction are highest among the younger generation: 84% of 16–18-year-olds are satisfied in their role, compared with 74% of those aged 35-44.
Adam Harper, AAT Head of Strategy and Professional Standards, said: "This year's AAT Salary Survey results show a strong performance in salaries across all membership levels, demonstrating the ongoing need for businesses to appoint and engage both accountants and bookkeepers. For students, for example, to have the ability to earn around £20,000 while studying for their AAT qualifications (rising to £24,500 for those based in London) underlines the strength and health of the profession.
"In addition, it's clear that as AAT members move up the career ladder, their salaries increase accordingly. This underlines the importance of continued career development, through both training and upskilling, especially given the changing face of the workplace."
