Specialist recruitment firm Robert Half’s 2024 Salary Guide has revealed a surge in demand for finance and accounting roles, with almost half of managers (47%) intending to expand their headcount in the upcoming year.

However, the research underscores that professionals in this sector are seeking more than mere financial incentives, pointing towards a growing preference for additional benefits in the workplace.

The comprehensive analysis conducted by Robert Half outlines an increase in salaries across various finance and accounting professions, attributed to a combination of skill shortages and the escalating cost of living. The Accounting Operations job category registered the highest average increment of 9.6%, while significant pay rises were observed among Sales Ledgers and Billing Clerks, with experienced individuals witnessing a substantial 36.2% surge in remuneration.

Beyond Monetary Rewards

The study highlighted a noteworthy trend among finance and accounting professionals: while salary increments are welcome, individuals are placing increasing importance on supplementary benefits. Beyond monetary gains, respondents prioritised perks like remote working allowances, flexible benefits schemes, fuel subsidies, meal vouchers, and dental insurance.

Hannah Szymanski, Market Director Finance & Accounting at Robert Half, emphasised the ongoing competitiveness in the labour market and the rising demand for more comprehensive job packages. Szymanski noted that while pay inflation has surged, professionals are leaning towards workplace benefits that assist them in navigating the challenging work environment.

She further highlighted the significance of identifying and offering benefits that cater to candidates’ evolving needs. Szymanski underscored the impact of such additional perks in attracting top talent, especially amid a skills-short market.

“Our latest Jobs Confidence Index shows that UK workers remain confident in their career prospects as we head into 2024,” she adds. “Employees recognise their increasing value in a skills short labour market and are more likely to jump ship should they be presented with better opportunities.”