LOB Salary Guide AUDIT - Flipbook - Side 15
15
Salary and bonus trends
Due to fierce competition within internal
audit recruitment, starting salaries have
risen considerably over the last two
years. These increases are occurring
throughout the UK and across all levels
of seniority across the profession.
It is not uncommon for candidates to
secure a new starting salary that is 20%
higher than what they are currently
earning. In exceptional circumstances,
offers may extend to 25% above a
candidate’s previous salary.
Conversely, employers only expect to
increase base salaries for their existing
staff by an average of 6% over the next
12 months.
This disparity, combined with growing
uncertainty about the economy, is
causing many professionals to consider
switching jobs. Even people who are
happy in their current role are being
tempted into the market because of the
potential to earn far more elsewhere.
Given the current climate, organisations
recognise how crucial it is to hold on to
their best staff, which has resulted in a
notable rise in generous counteroffers.
However, for regional FS companies, it's
difficult to compete with London-based
firms that can offer candidates both
higher salaries and, increasingly, the
opportunity to work largely from home.