charity finance salary survey 2015
CHARITY FINANCE SALARY SURVEY 2015
Charity Finance Salary Survey 2015 Introduction Welcome to the TPP salary survey for finance professionals in the not for profit sector. This report aims to benchmark salaries across the sector, allowing employees to compare their salary against the average and giving employers a standard when budgeting for new roles. Please see the full data tables at the end of this report for detailed statistics by seniority, type, size and location of organisation and type of contract.
“We are seeing an increase in business partnering roles in larger charities, where the focus is not just on accounts and budgets but also on commercial activities, contracts and VAT implications. These positions, along with fully-qualified financial/management accountants have seen modest growth in salaries and packages. Knowledge of the latest SORP also remains high on the agenda, and from a technical perspective the market seems to be moving towards cloud and web-based accounting packages” TPP Finance & Accountancy Team
Salaries by job level
Director Manager Accountant Officer Assistant TOTAL
Average salary 2015
Highest
Lowest
£65,207 £42,369 £38,490 £26,342 £24,873 £39,470
£125,000 £76,000 £60,000 £38,400 £36,480 £61,176
£32,898 £20,000 £21,000 £18,000 £14,100 £21,200
CFG People & Pay Survey 2013 £61,429 £42,008 £32,305 £23,937 £22,686 £36,473
Increase 2013 - 2015 6% 1% 19% 10% 10% 8%
Salaries at Director level have increased by 6% since 2013, when compared with salaries from the CFG People and Pay Survey 2013, however the biggest increases are seen at junior and mid-level roles.
Summary of Results
Salaries in London are 16% higher Temporary/ Interim staff earn 24% more than permanent employees
Human rights, Membership and Cancer organisations pay more
Salaries in larger organisations are 25% higher
www.tpp.co.uk
020 7198 6000
Part time staff earn 19% less than full time staff
Females earn 22% less than males
Responsibility for non-finance departments
Finance & IT remains the biggest crossover, as previously reported in the CFG People & Pay Survey 2013
69% of Finance Directors have responsibilities for other disciplines, including IT, properties/ Facilities, Compliance, HR and Legal.
Further responsibilities mentioned by Directors include membership, company secretariat, health and safety, events and communications.
36%
38%
35% 30% 26%
Functions by job level
Financial planning & analysis
17% 14%
3% 3%
Compliance/Audit
4% 3%
Financial management/Control
15% 14% 10% 22% 23% 21%
9% 7%
Business/Financial analysis 0%
www.tpp.co.uk
Accountant
20% 18% 16%
Officer Assistant
16% 16%
5% 6%
0%
Director Manager
6%
Accounting
Processing/Admin
22%
10%
22%
28% 27%
11%
62% 60%
20%
30%
40%
020 7198 6000
50%
60%
70%
Qualifications
54% of respondents are fully qualified
23% are part qualified
23% are qualified by experience
29% hold an ACCA qualification
24% hold an ACA qualification
19% hold an AAT qualification
Incentives
Pension contributions, season ticket loans and flexible working hours remain the top three benefits received; this has remained consistent since 2013. Life insurance and childcare vouchers are the next most popular benefits Medical insurance is the most desired additional benefit.
Pension Contributions
Season Ticket Loans
Flexible Working Hours
Life Insurance
Childcare Vouchers
• 73% Receive • 15% want
• 42% Receive • 9% Want
• 40% Receive • 24% Want
• 32% Receive • 18% Want
• 20% Receive • 7% Want
Medical Cover
Voluntary Leave/ Trusteeships
Car Allowance
Secondments / Sabaticals
Other
• 16% Receive • 36% want
• 13% Receive • 20% Want
• 6% Receive • 12% Want
• 3% Receive • 15% Want
2% Receive option to buy holiday
www.tpp.co.uk
020 7198 6000
Salary Change over the past year
49% of respondents reported an increase in salaries over the past year, while 39% reported their salary stayed the same.
Generally respondents felt this is due to an upturn in the economy.
50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0%
45% 39%
4%
7%
5%
Increased a Increased a Stayed the Decreased a Decreased a lot little same little lot
“Skills gap, Increase in supply of jobs which makes keeping/hiring staff more important” “Better systems, more qualified accountants” “Shortage of funds in Charity organisations”
Thinking about your previous role did you work for?
8% Public sector organisation
36%
Charity or other not for profit organisation Private sector company 56%
The increasing number of finance professionals moving from the private sector reflects the need organisations have for their commercial skill set.
www.tpp.co.uk
020 7198 6000
Average Days Holiday =
32% of respondents are members of CFG
27
Motivators
Top motivator for seeking a new role is a higher salary closely followed by a more interesting role. This is not consistent with other disciplines, such as charity HR professionals, where a better work life balance ranks highest. 2% 9%
Better work/ life balance 15%
Higher salary
13%
More interesting role
26%
11%
Better location/ Commute More responsibility/seniority
24%
www.tpp.co.uk
Better job security
020 7198 6000
Methodology The salaries used in this report were compiled using information from 164 respondents from Feb-March 2015, and existing data from 86 database records during 2014-15. Responses came from the following profiles:
41% Female
87% London/ Greater London
28% Director 27% Manager
59% Male 7% South East
21% Accountant 1% North & Scotland 85% Permanent
15% Officer 1% Midlands 9% Assistant
8% Temporary/ Interim
1% South West & Wales
7% Contract
3% Unknown
We have used the most common market terminology for roles for the purposes of this survey, however we appreciate not every job will fit this terminology. The results are provided as generic market information only.
About TPP Recruitment TPP Recruitment is a specialist recruitment consultancy working with organisations in the non-profit, public and healthcare sectors. Established in 1996, we use our experience, knowledge of the sector and shares values and principles to meet our clients’ recruitment needs. All our consultants are sector specialists, able to offer the best advice and service to both our candidates and clients. TPP’s divisions cover the full breadth of charity roles. TPP’s Finance Team have both the experience and the expert knowledge of the not for profit sector needed to provide our clients with consistently high-quality finance professionals. We recruit candidates with a wide range of skills, to all levels of vacancy from Assistant to Director.
www.tpp.co.uk
020 7198 6000
Data Tables Type of organisation Organisation Type Animals Arts, Culture and Heritage Cancer Children Disability Education Environment Health Homelessness Hospices Human Rights International Aid Membership Older People Other Society & Work Sport Unknown Grand Total
Assistant
Officer
Accountant £60,000 £38,667
£25,400 £24,000 £31,000
£21,000 £26,000 £23,733
£48,000 £43,333 £33,000 £44,040
Manager
£27,183 £22,000
£46,856 £45,000 £27,000
£51,000
£44,858
£66,325
£49,315
£52,900 £66,000 £39,492 £37,750 £46,009 £40,750
£38,385
£40,000 £19,200 £25,573
£25,492
£39,794
Type of role Level
Full time
Part time
Grand Total
Director Manager Accountant Officer Assistant
£68,902 £45,567 £38,339 £26,029 £25,015
£54,144 £40,368 £43,250 £22,000 £28,083
£66,325 £44,858 £39,794 £25,492 £25,573
Grand Total
£50,431
£44,275
£49,315
Gender Level
Female
Male
Grand Total
Director Manager Accountant Officer Assistant
£62,230 £42,550 £40,444 £26,022 £26,367
£68,747 £47,386 £39,469 £25,139 £22,000
£66,325 £44,858 £39,794 £25,492 £25,573
Grand Total
£44,219
£53,032
£49,315
www.tpp.co.uk
£54,000 £57,167 £58,950 £54,563 £64,550 £70,786 £91,000 £62,992 £55,000 £74,569 £62,534 £74,998 £77,500 £71,552 £50,000
£50,400
£29,017
£25,300 £30,000
Grand Total £57,000 £50,786 £58,950 £49,684 £56,600 £49,234 £45,100 £48,828 £40,750 £55,000 £64,785 £51,362 £60,794 £53,250 £44,755 £36,750 £40,000 £32,400
£55,000 £45,000 £29,000 £33,656
Director
020 7198 6000
Type of contract Temporary/ Interim
Level
Contract
Permanent
Grand Total
Director Manager Accountant Officer Assistant
£40,000 £34,493 £49,429 £26,000
£65,795 £44,653 £36,581 £25,456 £25,400
£75,667 £74,000 £35,000 £26,350
£66,325 £44,858 £39,794 £25,492 £25,573
Grand Total
£43,726
£48,976
£59,155
£49,315
Size of organisation Small (1-10 employees)
Medium (11 - 100 employees)
Large (100+ employees)
Grand Total
Director Manager Accountant Officer Assistant
£51,000 £37,214 £44,833 £25,567 £31,000
£62,008 £41,965 £38,500 £26,486 £26,887
£86,630 £54,502 £38,246 £31,036 £24,166
£70,631 £44,858 £39,794 £28,274 £25,573
Grand Total
£40,057
£48,774
£59,704
£51,367
Level
Location of organisation
Level
London/ Greater London
Director Manager Accountant Officer Assistant Grand Total
www.tpp.co.uk
Midlands
North
Scotland
£68,672 £46,334 £39,852 £25,853 £26,313
£68,000
£46,449 £39,632
£28,000
£50,764
£54,978
£43,040
£28,000
£28,934
020 7198 6000
South East
Grand Total
£53,430 £41,188 £36,500 £26,500 £22,665
£66,325 £44,858 £39,794 £25,492 £25,573
£42,964
£49,315
Charity Finance Salary Survey 2015 Introduction Welcome to the TPP salary survey for finance professionals in the not for profit sector. This report aims to benchmark salaries across the sector, allowing employees to compare their salary against the average and giving employers a standard when budgeting for new roles. Please see the full data tables at the end of this report for detailed statistics by seniority, type, size and location of organisation and type of contract.
“We are seeing an increase in business partnering roles in larger charities, where the focus is not just on accounts and budgets but also on commercial activities, contracts and VAT implications. These positions, along with fully-qualified financial/management accountants have seen modest growth in salaries and packages. Knowledge of the latest SORP also remains high on the agenda, and from a technical perspective the market seems to be moving towards cloud and web-based accounting packages” TPP Finance & Accountancy Team
Salaries by job level
Director Manager Accountant Officer Assistant TOTAL
Average salary 2015
Highest
Lowest
£65,207 £42,369 £38,490 £26,342 £24,873 £39,470
£125,000 £76,000 £60,000 £38,400 £36,480 £61,176
£32,898 £20,000 £21,000 £18,000 £14,100 £21,200
CFG People & Pay Survey 2013 £61,429 £42,008 £32,305 £23,937 £22,686 £36,473
Increase 2013 - 2015 6% 1% 19% 10% 10% 8%
Salaries at Director level have increased by 6% since 2013, when compared with salaries from the CFG People and Pay Survey 2013, however the biggest increases are seen at junior and mid-level roles.
Summary of Results
Salaries in London are 16% higher Temporary/ Interim staff earn 24% more than permanent employees
Human rights, Membership and Cancer organisations pay more
Salaries in larger organisations are 25% higher
www.tpp.co.uk
020 7198 6000
Part time staff earn 19% less than full time staff
Females earn 22% less than males
Responsibility for non-finance departments
Finance & IT remains the biggest crossover, as previously reported in the CFG People & Pay Survey 2013
69% of Finance Directors have responsibilities for other disciplines, including IT, properties/ Facilities, Compliance, HR and Legal.
Further responsibilities mentioned by Directors include membership, company secretariat, health and safety, events and communications.
36%
38%
35% 30% 26%
Functions by job level
Financial planning & analysis
17% 14%
3% 3%
Compliance/Audit
4% 3%
Financial management/Control
15% 14% 10% 22% 23% 21%
9% 7%
Business/Financial analysis 0%
www.tpp.co.uk
Accountant
20% 18% 16%
Officer Assistant
16% 16%
5% 6%
0%
Director Manager
6%
Accounting
Processing/Admin
22%
10%
22%
28% 27%
11%
62% 60%
20%
30%
40%
020 7198 6000
50%
60%
70%
Qualifications
54% of respondents are fully qualified
23% are part qualified
23% are qualified by experience
29% hold an ACCA qualification
24% hold an ACA qualification
19% hold an AAT qualification
Incentives
Pension contributions, season ticket loans and flexible working hours remain the top three benefits received; this has remained consistent since 2013. Life insurance and childcare vouchers are the next most popular benefits Medical insurance is the most desired additional benefit.
Pension Contributions
Season Ticket Loans
Flexible Working Hours
Life Insurance
Childcare Vouchers
• 73% Receive • 15% want
• 42% Receive • 9% Want
• 40% Receive • 24% Want
• 32% Receive • 18% Want
• 20% Receive • 7% Want
Medical Cover
Voluntary Leave/ Trusteeships
Car Allowance
Secondments / Sabaticals
Other
• 16% Receive • 36% want
• 13% Receive • 20% Want
• 6% Receive • 12% Want
• 3% Receive • 15% Want
2% Receive option to buy holiday
www.tpp.co.uk
020 7198 6000
Salary Change over the past year
49% of respondents reported an increase in salaries over the past year, while 39% reported their salary stayed the same.
Generally respondents felt this is due to an upturn in the economy.
50% 45% 40% 35% 30% 25% 20% 15% 10% 5% 0%
45% 39%
4%
7%
5%
Increased a Increased a Stayed the Decreased a Decreased a lot little same little lot
“Skills gap, Increase in supply of jobs which makes keeping/hiring staff more important” “Better systems, more qualified accountants” “Shortage of funds in Charity organisations”
Thinking about your previous role did you work for?
8% Public sector organisation
36%
Charity or other not for profit organisation Private sector company 56%
The increasing number of finance professionals moving from the private sector reflects the need organisations have for their commercial skill set.
www.tpp.co.uk
020 7198 6000
Average Days Holiday =
32% of respondents are members of CFG
27
Motivators
Top motivator for seeking a new role is a higher salary closely followed by a more interesting role. This is not consistent with other disciplines, such as charity HR professionals, where a better work life balance ranks highest. 2% 9%
Better work/ life balance 15%
Higher salary
13%
More interesting role
26%
11%
Better location/ Commute More responsibility/seniority
24%
www.tpp.co.uk
Better job security
020 7198 6000
Methodology The salaries used in this report were compiled using information from 164 respondents from Feb-March 2015, and existing data from 86 database records during 2014-15. Responses came from the following profiles:
41% Female
87% London/ Greater London
28% Director 27% Manager
59% Male 7% South East
21% Accountant 1% North & Scotland 85% Permanent
15% Officer 1% Midlands 9% Assistant
8% Temporary/ Interim
1% South West & Wales
7% Contract
3% Unknown
We have used the most common market terminology for roles for the purposes of this survey, however we appreciate not every job will fit this terminology. The results are provided as generic market information only.
About TPP Recruitment TPP Recruitment is a specialist recruitment consultancy working with organisations in the non-profit, public and healthcare sectors. Established in 1996, we use our experience, knowledge of the sector and shares values and principles to meet our clients’ recruitment needs. All our consultants are sector specialists, able to offer the best advice and service to both our candidates and clients. TPP’s divisions cover the full breadth of charity roles. TPP’s Finance Team have both the experience and the expert knowledge of the not for profit sector needed to provide our clients with consistently high-quality finance professionals. We recruit candidates with a wide range of skills, to all levels of vacancy from Assistant to Director.
www.tpp.co.uk
020 7198 6000
Data Tables Type of organisation Organisation Type Animals Arts, Culture and Heritage Cancer Children Disability Education Environment Health Homelessness Hospices Human Rights International Aid Membership Older People Other Society & Work Sport Unknown Grand Total
Assistant
Officer
Accountant £60,000 £38,667
£25,400 £24,000 £31,000
£21,000 £26,000 £23,733
£48,000 £43,333 £33,000 £44,040
Manager
£27,183 £22,000
£46,856 £45,000 £27,000
£51,000
£44,858
£66,325
£49,315
£52,900 £66,000 £39,492 £37,750 £46,009 £40,750
£38,385
£40,000 £19,200 £25,573
£25,492
£39,794
Type of role Level
Full time
Part time
Grand Total
Director Manager Accountant Officer Assistant
£68,902 £45,567 £38,339 £26,029 £25,015
£54,144 £40,368 £43,250 £22,000 £28,083
£66,325 £44,858 £39,794 £25,492 £25,573
Grand Total
£50,431
£44,275
£49,315
Gender Level
Female
Male
Grand Total
Director Manager Accountant Officer Assistant
£62,230 £42,550 £40,444 £26,022 £26,367
£68,747 £47,386 £39,469 £25,139 £22,000
£66,325 £44,858 £39,794 £25,492 £25,573
Grand Total
£44,219
£53,032
£49,315
www.tpp.co.uk
£54,000 £57,167 £58,950 £54,563 £64,550 £70,786 £91,000 £62,992 £55,000 £74,569 £62,534 £74,998 £77,500 £71,552 £50,000
£50,400
£29,017
£25,300 £30,000
Grand Total £57,000 £50,786 £58,950 £49,684 £56,600 £49,234 £45,100 £48,828 £40,750 £55,000 £64,785 £51,362 £60,794 £53,250 £44,755 £36,750 £40,000 £32,400
£55,000 £45,000 £29,000 £33,656
Director
020 7198 6000
Type of contract Temporary/ Interim
Level
Contract
Permanent
Grand Total
Director Manager Accountant Officer Assistant
£40,000 £34,493 £49,429 £26,000
£65,795 £44,653 £36,581 £25,456 £25,400
£75,667 £74,000 £35,000 £26,350
£66,325 £44,858 £39,794 £25,492 £25,573
Grand Total
£43,726
£48,976
£59,155
£49,315
Size of organisation Small (1-10 employees)
Medium (11 - 100 employees)
Large (100+ employees)
Grand Total
Director Manager Accountant Officer Assistant
£51,000 £37,214 £44,833 £25,567 £31,000
£62,008 £41,965 £38,500 £26,486 £26,887
£86,630 £54,502 £38,246 £31,036 £24,166
£70,631 £44,858 £39,794 £28,274 £25,573
Grand Total
£40,057
£48,774
£59,704
£51,367
Level
Location of organisation
Level
London/ Greater London
Director Manager Accountant Officer Assistant Grand Total
www.tpp.co.uk
Midlands
North
Scotland
£68,672 £46,334 £39,852 £25,853 £26,313
£68,000
£46,449 £39,632
£28,000
£50,764
£54,978
£43,040
£28,000
£28,934
020 7198 6000
South East
Grand Total
£53,430 £41,188 £36,500 £26,500 £22,665
£66,325 £44,858 £39,794 £25,492 £25,573
£42,964
£49,315
