Last updated: 10 Feb 2025 09:00 Posted in:
Nearly half of those working in accountancy and finance are unhappy with their salaries, according to the recently published Reed Salary Survey, Accountancy and Finance 2025.
The survey found that only 54% of people working in the sector are ‘somewhat happy’ or ‘very happy’ with how much they are paid. It said as the cost-of-living crisis continues to bite, 60% of unhappy workers say their dissatisfaction is because this isn’t reflected in their salary.
Outside of external economic pressures, other reasons workers are unhappy with their salary include recognising that their chosen sector isn’t well paid (38%) and that they do far more than outlined in their job description (37%).
Currently, over half (56%) of workers are ‘happy’ with the pay they receive, a slight incline from the results of last year’s survey (54%). That does, however, mean around one-in-four (26%) professionals feeling unhappy with their current salary, a 2% increase on last year’s dissatisfied workers.
The disparity between the average wage and the salary people would be comfortable with remains quite large, the survey said. The average salary in last year’s salary guide survey was reportedly £35,264, while the average salary respondents said they’d be happy with was £48,541 – a 37.6% salary increase. In 2025, the average reported salary has increased by 10% to £38,921, while the target salary for workers is lower, at £45,785 – a 17% desired increase in salary.
This year’s lower target salary could be a result of workers recognising the challenging employment market and cost-of-living crisis and tempering their expectations. Previously, higher salaries may have been desired, whereas going into 2025 workers have slightly more realistic expectations of salary increases.
However, as expected, continued increases in inflation and bills have put many under mounting financial pressures. More than half (60%) of those who aren’t satisfied with their salary shared that this is because it hasn’t risen with the cost of living, nearly a third (31%) say it’s not enough for them to live the lifestyle they want, and 36% feel they’re unable to save enough money to meet their financial goals.
Worryingly, one-fifth (20%) say they feel unable to meet their financial obligations, such as their mortgage and bills, on their current salary.
