The significant shortfall in the number of qualified accountants working in the UK is forcing employers to offer high salaries to attract new staff, according to a new report.
A report by recruitment consultancy Robert Walters found that employers are struggling to find qualified accountants as a buoyant financial and commercial market ensures demand remains high.
According to the report, the salaries of London accountants have risen by as much as 20 per cent in recent months, because of the continued shortage.
The report also revealed that financial controllers are in particular demand, as banks increase the number of trading products they offer clients. Now, an entry-level controller's starting salary can be as much as £65,000 in some cases.
Giles Daubeney, chief operating officer at Robert Walters, commented on the figures, saying: "Last year, it was suggested that the shortage in supply of good quality candidates would not let up. This has more than proved to be the case.
"Several factors are responsible: the financial services industry is as busy as it has ever been, but is also subject to increasingly stringent regulation and corporate activity is very buoyant."
He added that the survey had found that "employers are prepared to pay more to secure the best candidates" and that a "war for talent" is going on as companies try to recruit suitable accountants.
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