Hard Facts on Pay and Reward

Hard Facts on Pay and Reward

11 April 2017 by Justin Rush

Hard Facts on Pay and Reward

The Abacus team has surveyed over 500 professional employees within the Belfast marketplace to create its most comprehensive localised guide on pay and reward.  We have created a detailed report with the results available for download and viewing on HD video via www.abacus.jobs/salarysurveys/

The guide outlines current average basic salaries, applicable benefits and information upon past and expected pay increases for professionals working in Software Development, Analytics, Legal, Finance, Compliance, Accountancy, Sales, Human Resources and Insurance.

Below is a snapshot of survey findings:

  • 263 of 500 professions surveyed obtained a basic salary increase in 2016.
  • The average percentage pay increase in 2016 for these 263 professions was 7.41%.
  • 54% of Accountants working in professional practice expect a basic pay increase of between 3 to 5% in 2017.
  • Software Developers with five years plus experience have an average basic salary of £37,675 p.a.
  • 31% of Para-Legal support staff in 2016 received a basic salary increase, this year 69% are expecting an increase.
  • 28% of Human Resource professionals received a bonus in 2016.
  • 74% of Compliance professionals can gain a performance bonus in their current employment.
  • 20% of Business Development Professionals expect a basic salary increase this year, this is the lowest expectation form any group surveyed.
  • Newly to three years, qualified Solicitors enjoyed continued year-on-year growth in basic salary, the current average is £27,267 p.a.
  • Only 8% of professional staff working in the Insurance sector can avail of flexible working arrangements.  This is the lowest percentage of the industry sectors surveyed.
  • 68% of Data Analysts surveyed received a basic pay increase in 2016.
  • The average basic salary for a Management Accountant in Belfast is £33,954 p.a.

Click to view the Average Basic Pay Percentage Increase Findings: Basic Salary increases per sector 2016

How can you use this information for your benefit?

This information should certainly help you benchmark your pay and reward offering whether you are reviewing current staff or budgeting for future appointments.

In closing, it is important to consider the messages of the Spring UK budget.  Revised economic growth forecasts for 2017 are 2% with expected inflation continuing at 2.4% for the foreseeable future.  It is, therefore, logical to conclude that employees will feel conditions are right for a positive increase in salary terms in the year ahead.

Download Abacus' 2017 Salary surveys

Download Abacus’ 2017 Salary surveys

If you have any further queries on our salary survey findings please contact; Justin Rush, Abacus Talent Group, Director on mailto:[email protected] | 028 9031 3157.

Share this blog

Related Blogs

20 January 2022
What Can Newly Qualified Finance Professionals in Northern Ireland Expect This Year?

What Can Newly Qualified Finance Professionals in Northern Ireland Expect This Year?

2021 was a real upset, no-one at the start of the year was expecting what

Read More
11 January 2022
Stepping into 2022 with style…

Stepping into 2022 with style…

Starting a new year can be difficult, Christmas is over, dark mornings and not-so-great weather.

Read More
20 December 2021
Hiring talent won’t get any easier in 2022

Hiring talent won’t get any easier in 2022

I have been speaking with several clients in recent months, we talk in detail about

Read More
17 December 2021