CHARITY FINANCE SALARY, REWARDS & RETENTION SURVEY 2017

Transcription

1 CHARITY FINANCE SALARY, REWARDS & RETENTION SURVEY 2017

2 Contents Introduction 3 What s Happening to Finance Salaries? 4 Average Salary 5 Functions 6 Non-Finance Responsibilities 7 Qualifications 8 Incentives 9 Previous Roles 10 Commute 10 Job Searching 11 Data Tables 12 Methodology 14 Our Divisions 14 Our Finance Team 15 Contact info@tpp.co.uk Page 2

3 Introduction Welcome to our third annual salary, rewards and retention survey for finance professionals in the charity sector. As a niche recruiter specialising in recruiting for the not for profit sector, TPP Recruitment have compiled this report by surveying our network and using our own data recorded over the last year. 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. It is important for a charity to have a strong financial and technical infrastructure. To help increase charities efficiency and impact, a high calibre of an experienced candidate is required. At TPP, we are experienced in the recruitment of some of the finest charity finance candidates. Through this we have developed excellent relationships with many organisations in the sector. We continue to run free seminars for finance professionals, our most recent on Compliance & Communication. Visit the Seminar and Events page on our website to keep up with future finance events. - Jayne Morris, CEO About Us TPP Recruitment is a UK wide recruitment consultancy specialising in staffing the not for profit, public and private health and social care sectors. We are dedicated to supporting organisations such as charities, professional membership bodies and cultural institutions, as well as education, health and social care providers. At TPP, we strongly believe that the best recruiters are those who genuinely care about what they do. We use our experience, specialist knowledge of our markets and company principles to provide an exceptional service to both employers and jobseekers. Our 50+ strong team are dedicated to supporting public sectors and not for profit organisations of all shapes and sizes across the following sectors and functions: Charities / Education / Health & Social Care / Awarding Bodies / Professional Membership / Cultural Institutions info@tpp.co.uk Page 3

4 What s Happening to Finance Salaries? Here at TPP, we ve noticed a few trends this year. Below are some thoughts from our own experts who specialise in recruiting for finance and accountancy staff. There has been a rise in demand for part-time posts within the not for profit sector, especially at the more senior end of the market. Senior interim appointments, such as Financial Controller or Financial Director, are on the increase within the charity sector. - Bita Heffernan, Business Manager. Flexible working hours and working from home are becoming increasingly important for candidates within the sector, and employers who do not offer some kind of flexible working are beginning to miss out on top talent in the market. In comparison to 2016, when the market slowed due to the EU referendum result, 2017 has been busy across all areas of charity finance and accountancy. - Jamie Reynolds, Business Manager. Finance Director roles have expanded and clients are now looking for FDs who are heavily involved in HR, IT, and Facilities. In addition, clients seem to be combining positions. For example, Finance Officers are getting more involved in payroll and credit control, as opposed to having separate job titles. - Angela Chellappah, Senior Consultant. This report will explore the results of 2017, some of which are summarised below info@tpp.co.uk Page 4

5 Average Salary Overall, there is a small variation in average salaries on the previous year. The majority have increased by a small amount, with the exception of the most senior job levels (Director and Head of) which have had a slight decrease on average. The job level that has seen the largest increase on average is Assistant, which has risen by 7% on last year to 25,206. See below for the full comparison between average salaries in 2016 and Average Salary by Job Level info@tpp.co.uk Page 5

6 Functions by Job Level The chart above illustrates the average distribution of functions by job level. The main functions within finance are: Budgeting & forecasting Financial planning & analysis Compliance / audit Financial management / control Finance business partnering Accounting (management / financial / project accounting) Processing / administration Depending on job level, how much a role consists of each function will vary info@tpp.co.uk Page 6

7 Non-Finance Departments We asked finance professionals if they have additional responsibilities in other departments. These include HR, properties/facilities, IT, compliance and legal. It was found that HR and legal are the most common areas of extra responsibility which have varied from 2016 when they were both among the lowest. Compliance is now the least common extra responsibility dropping to 19%. See the table below representing the comparison between the responsibility in non-finance departments, and the percentage of people with additional responsibility in these departments. Comparison of responsibility for Non-Finance Departments in 2016 and Page 7

8 Qualifications Average Salary by Level of Qualification The majority of financial professionals are fully qualified. The other 44% is made up of those who are qualified through experience or part-qualified. We can assume that many of the 21% that are part-qualified are working towards full qualification. Those that are fully qualified, on average, earn 20k more than those who are qualified by experience or part-qualified. Qualifications vary amongst respondents, the most common being accredited by ACCA and ACA Page 8

9 Incentives Benefits Received Respondents received a variety of benefits from their employers, these are all included in the chart above. The most common received was pension contributions which has stayed consistent with the past two years. The ability to work from home was a new category this year but still ranks as a commonly received benefit. Other new categories include gym membership and student support. 53% receive additional financial benefits, the most common being paid overtime/time off in lieu. The average amount of holiday received is 26 days, which has stayed the same as the previous year. This year, bonuses have overtaken flexible working hours as the most desired benefit. The top nine are listed below. Gym membership, working from home and study support are new additions this year. Desired Benefits info@tpp.co.uk Page 9

10 Previous Roles We asked respondents if their previous role was in a charity / not for profit organisation, private, or public sector. The results are presented to the right. Consistent with last year, charity / not for profit is the most common, followed by the private and public sector. Commute The majority of finance professionals have long commutes to work, with 30% travelling up to an hour and 24% commuting for over an hour. In total, most respondents said that the maximum time they are willing to commute for would be up to an hour. As many as 24% strongly agree that they would be willing to relocate info@tpp.co.uk Page 10

11 Job Searching We asked what the most effective method of actively searching for a new role was. Recruitment agencies ranked as the most popular method. In contrast, social media (excluding LinkedIn) was the least popular method. Top 5 most Effective Methods of Job Searching Respondents were asked how they found their current role. TPP Recruitment, Guardian Jobs, and being recommended by existing employees were included in their responses. 46% are planning a career move in the next 12 months Motivators Respondents were asked about their motivations for starting a new role, the most and least popular are demonstrated below. This year, better job security has taken over higher salary as the most popular motivator when searching for a new role. Training and development was the least popular motivator info@tpp.co.uk Page 11

12 Data Tables Average Salary by Year Average Salary by Gender Page 12

13 Data Tables Average Salary by Contract Type Average Salary by Hours Worked Page 13

14 Methodology This is the third TPP finance salary survey for finance professionals in the charity sector. The salaries used in this report were compiled using information from professionals that responded to our survey this year and existing data from Responses came from the following profiles: 62% Female 35% Male 3% Prefer not to say 68% Permanent 15% Temporary / interim 17% Fixed term 13% Director 15% Head of 24% Manager 16% Accountant 18% Officer 14% Assistant Our Divisions CEO & Trustee Education & Training Finance, IT & Facilities Fundraising & Development Health & Social Care Human Resources MarComms & Digital Office & Specialist Support At TPP, our principles guide everything we do and our people are committed to driving them through every aspect of our business. As part of our commitment to the third sector, we have set up TPP Giving Back, offering various additional free services to not for profit organisations. If you would like to find out more about our free services click here info@tpp.co.uk Page 14

15 Our Finance Team Rob Hayter FIRP Recruitment Director Sophie Butler MIRP Divisional Director Angela Chellappah Senior Consultant - Finance and Accountancy angela.chellapah@tpp.co.uk Jamie Reynolds Business Manager - Finance, IT & Facilities jamie.reynolds@tpp.co.uk Bita Heffernan Business Manager - Finance, IT & Facilities bita.heffernan@tpp.co.uk info@tpp.co.uk Page 15

16 Contact Head Office TPP Recruitment 4th Floor, Sherborne House Cannon Street London EC4N 5AT T: E: North Office Merchant House 30 Cloth Market Newcastle Upon Tyne NE1 1EE T: E: South Office CityPoint Temple Gate Bristol BS1 6PL T: E: /TPP-Recruitment /TPPRecruitment /TPPRecruitment /+TPPNotforProfitRecruitment Page 16