07/12/2001

UK accountants earn more than world counterparts

Accountants in Britain are higher paid than elsewhere in the world according to the Worldwide Total Remuneration Survey from Towers Perrin.

The report, which looks at current reward practices in 26 countries, found that the average basic salary for an accountant working in Britain is $71,000, an increase of $3,600 on last year.

This figure then increases to $117,771 when bonuses, share options and pensions are included. This is in keeping with many leading companies around the world who, as well as using stock and other long-term incentives (LTI’s), are implementing global benefits strategies to help them stay ahead of the competition on attracting and retaining key employees.

Other key findings of the survey found that UK CEO’s are the second highest paid out of the study’s European countries, with a total package of $668,526. While CEOs in Belgium earn $696,697 total package. CEO’s in the US earn almost double anywhere else in the world in terms of total remuneration with $1,932,580.

According to the report, HR Directors receive the largest total remuneration in the US ($449,135), closely followed by Argentina, ($335,564). HR Directors in the UK are the highest paid out of all the studies European countries with $311,452 total package.

The UK’s Accountants are the highest paid of all countries featured in the report, with total remuneration almost one and a half times higher than that of their European counterparts. (MB)

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