Demand for highly-skilled finance professionals means those in the accounting and finance sector are set to experience the most significant starting salary increases in Wales, compared to other professional occupations.
According to the Robert Half 2018 Salary Guide, the competitive market for high-performing talent within accounting and finance is set to drive salaries for chief financial officers (4%), financial controllers (4%) and risk associates (3.3%) in Wales higher in 2018. Similarly, skilled administrative professionals in Wales are also expected to see an increase in salaries over the next year. HR business partners and executive assistants are set to see salaries rise by 3.7% and senior administrative assistants by 3.1%.
“In the last few years, we’ve seen the Welsh economy aim to reinvent itself in response to change and the next year will once again test the resolve of Welsh businesses. Brexit, automation, digital transformation and meeting data regulations are just some of the local, regional and international factors that will need to navigated,” explained Gareth Gage, Director, Wales, Robert Half UK. “However, the shortage of specialist skills remains a challenge with low skills and productivity being blamed for the growing productivity gap. In an effort to win the war for top talent and boost economic output, organisations are willing to pay a price for those with the right skills to support their business goals.”
Table one: average salary increases in Wales, by professional occupation in 2018
| Industry | Average starting salary increases |
| Administrative and office support | 1.9% |
| Accounting and finance | 1.4% |
| National average | 1.4% |
Administration and office support
In line with growth plans, businesses are recruiting mid-level administrative and office professionals with the industry experience and systems knowledge in areas such as Microsoft, SAP and CRM to provide specialist support. Permanent, professional-level employees can expect to see a salary increase and often a bonus structure linked to the success drivers of the position.
Table two: administration and office support highest salary rises by role in Wales
| Top three | 2017 Wales average | 2018 Wales average | % change |
| HR business partner | £28,350 – £ 45,225 | £29,925 – £46,350 | 3.7% |
| Executive assistant | £26,100 – £ 35,100 | £ 27,900 – £35,550 | 3.7% |
| Senior administrative assistant | £16,200 – £27,000 | £16,650 – £27,900 | 3.1% |
Accounting and finance
Financial controllers and risk associates who can combine technical skills with commercial awareness and business acumen are sought after as firms focus on improving the overall productivity of the finance function. There is also growing demand for CFOs who can transform finance and introduce greater automation. On the whole, starting salaries within finance and accounting will increase over the next 12 months and those professionals with specialist skills or industry-specific experience are likely to benefit from the greatest increase.
Table three: accounting and finance highest salary rises by role in Wales
| Top three | 2017 Wales average | 2018 Wales average | % change |
| Chief financial officer/ Group finance director (SME) |
£77,400 – £90,000+ | £77,850 – £90,000+ | 4.0% |
| Financial controller (SME) | £37,350 – £47,925 | £40,050 – £48,600 | 4.0% |
| Risk Associate (large company) | £42,300 – £52,200 | £43,200 – £54,450 | 3.3% |
