Audit & General Practice Salary Insights 2023 

Recruiting for audit services continues to present significant challenges in the current landscape. However, this surge in demand is not without its consequences. The need to attract and retain top talent has led to escalating salary packages compelling firms to re-evaluate their fee structures and client portfolios or in some cases scaling back their audit offerings significantly. The ongoing trend of clients shifting from larger
firms to smaller providers continues to drive demand within the mid-tier segment. Additionally, a steady influx of industry roles
remains an enticing option for professionals contemplating a departure from the auditing profession.

Interestingly, some of the larger firms, particularly those that heavily tapped into overseas talent pools, have dialled back their
recruitment initiatives. Instead, they are focusing on integrating their substantial influx of new hires into their organizations.
In contrast, mid-tier firms and independent auditors remain active participants in the recruitment arena, particularly when it comes to positions ranging from Senior Manager to Director levels. With increased movement of people occurring at the start of the 2nd half of the year, it may well be that the challenges
currently being faced will start to ease. But with salaries escalating, a lot of firms are having to pay up to 20% more to simply retain existing skill levels (excluding promotions), which
inevitably will create the need to re-evaluate their fees for audit work in order to retain senior talent and bring in experience where needed.

Author: Patrick Bell

Patrick works for businesses and individuals that need to identify Accountancy Practice professionals in General Practice, Audit, Tax, Corporate, Advisory. North West UK

email: pbell@genrec.co.uk

Connect: https://www.linkedin.com/in/genesispb/