Taxation | 2014 - 2015 Salary Guide

Ian Barker 12.10.2014

View our most up-to-date Tax Salary Guide.

Permanent and Contract/Temporary

Tax has been a particularly buoyant area of recruitment within the finance market, especially within the larger practice firms, with a significant flow of roles at all levels throughout the year. As firms continue to develop a more specialist offering in line with market demands, there has been an ongoing need to recruit and develop candidates with specialist skill sets and experience to support and enable that growth. 

With the volume of roles generally outstripping the supply of candidates, this has had a positive impact on salaries and, as long as the individual is right, employers have been more flexible on previously strenuous criteria upon hiring. As expected, candidates within the specialist areas such as M&A, international tax, FS funds and banking tax, expatriate and employment taxes have seen the healthiest increases in package upon moving jobs. Meanwhile it has become commonplace to witness competitive (and sometimes startling) counter offers tabled by the Big 4 looking to retain their top performers. 

The Big 4 are still offering higher salaries than most of their competitors, but there are a few boutiques that are trying to bring things into line as they offer the same quality of work in a specialised area. After a few years of minimal or no bonuses, businesses are beginning to reward staff again, with bonuses regularly rising above 10%. 

After a strong end to 2013, the in-house tax market had a relatively slow start to 2014. This was a reflection of the continued cautious approach taken by businesses in the face of reported economic recovery; news which on the one hand was supported by an increase in M&A activity, whilst on the other hand was tempered by several high profile businesses issuing profit warnings and cost-cutting measures. 

The market has however noticeably improved after the end of the summer holiday season with a significant increase in activity in Q3 / Q4. Businesses have been recruiting to expand as well as to replace, as well as to bring tax in-house for the first time, with several instances of multiple hires. This increase has been particularly noticeable within the financial services and energy sectors. As with previous years, the largest volume of the activity has remained at the newly qualified and middle management levels and for roles in tax compliance, tax risk and reporting. Although by no means ubiquitous, we have also seen an increase in Director level moves in comparison to previous years.

 

ANNUAL SALARY

Role: Part Qualified
0-2 years
Newly Qualified
2-5 years
Manager
5-7 years
 Senior Manager
7-10 years
Director
10+ years
Partner
15+ years
Corporate Tax £26k - £34k £40k - £50k £50k - £65k £70k - £110k £110k - £180k £150k+
VAT £25k - £34k £35k - £48k £50k - £65k £70k - £105k £110k - £150k £150k+
Transfer Pricing £26k - £35k £35k - £48k £50k - £64k £70k - £100k £100k - £150k £150k+
Operations Tax £28k - £35k £35k - £48k £50k - £67k £70k - £100k £100k - £150k £150k+
Personal Tax £24k - £34k £35k - £46k £50k - £64k £70k - £100k £100k - £150k £150k+
Human Capital Tax £28k - £34k £35k - £50k £52k - £65k £70k - £105k £95k - £170k £150k+

 

 

RATE PER DAY

Role: Part Qualified
0-2 years
Newly Qualified
2-5 years
Manager
5-7 years
 Senior Manager
7-10 years
Director
10+ years
Corporate Tax £120 - £250 £250 - £350 £350 - £500 £450 - £650 £650+
VAT £120 - £250 £250 - £350 £350 - £400 £450 - £600 £600+
Transfer Pricing £120 - £250 £250 - £350 £350 - £450 £450 - £550 £550+
Operations Tax £120 - £200 £200 - £300 £350 - £450 £450 - £550 £550+
Personal Tax £120 - £200 £200 - £300 £350 - £450 £450 - £550 £550+
Human Capital Tax £100 - £200 £200 - £300 £350 - £450 £450 - £550 £550+
Ian Barker's picture
UK Director - Professional Services (Taxation, Audit, Legal)
ibarker@morganmckinley.co.uk