Over half (52%) of respondents said it is a significant opportunity for the profession, with 55% believing it will allow the profession to move further up the value chain in terms of the work it does.

 “It is very encouraging to see growing enthusiasm about the potential of AI to move Chartered Accountants’ work further up the value chain,” said Damien Carr, chairperson of Chartered Accountants Ireland, Leinster Society. “AI will not replace human judgement or strategic decision making however, but will sit alongside these critical skills that have made Chartered Accountants among the most trusted advisors to senior business leaders. 

"In addition, 44% of respondents agree that AI should be a regulatory priority, and I am confident that regulations such as the new EU AI Act will guide business and society in achieving this important balance.” 

Some 57% of respondents felt that artificial intelligence will impact positively on their career, backed by 68% saying the same about automation.

 “Since ChatGBT came online over two years ago, there was a lot of initial apprehension about what it might mean. But certainly, as our survey this year shows, there is increased positivity among the accounting profession as to how AI could actually benefit their day-to-day careers in automating some of the more straightforward tasks that might be done and thus free up their time to delve into the more value-adds areas of their jobs. That was a really positive statement we saw coming from the survey.” 

Damien adds that what Chartered Accountants Ireland and other companies have done is to educate the accounting community on what AI and such programs can do to assist their work. 

“That has helped the profession understand it better and made it less scary. AI will allow accountants and clients to focus on areas that can help grow the business more. Less time spent on day-to-day tasks will free them up to consider other opportunities that they perhaps would previously not have had the time to investigate.”

The earning potential for both experienced and newly qualified Chartered Accountants has increased significantly, according to the data. The survey results show the average salary package in Leinster now stands at €123,466 (up 4% on 2023), with the average basic salary of newly qualified Chartered Accountants rising to €62,374 (up 5.6% on 2023).

 The research, conducted by Coyne, shows earning potential across the profession remains strong, with €123,466 the average salary package for Chartered Accountants working across all sectors. This figure includes base salary, car or car allowance, and bonus. The longer-term trends are also strong, with a 10% increase in average salary package between 2019 and 2024. 

In all, 67% of respondents are satisfied or very satisfied with the salary they receive, bolstered by 90% of respondents saying their total remuneration has increased in the past three years, with 33% reporting it had increased by more than 25%. 

Four in five claim their total remuneration is expected to increase within the next 12 months. As part of the remuneration package, 73% expect to receive a bonus in 2024. The vast majority of members have a pension, with employers contributing an average 9% of their salary. After basic salary, this pension contribution is the most valued part of their package for 54% of respondents. 

The other most common elements in respondents’ salary packages are payment of professional subscriptions; Cycle to Work scheme; health insurance; and sponsored professional development.

High job satisfaction in a trusted profession 

“In today’s world, a Chartered Accountant is a very trusted, professional advisor,” says Damien Carr. “While there are the financial and accounting skills they’ve been trained in over a number of years, what Chartered Accountants Ireland have endeavoured to develop are areas such as project management, general management and additional skills businesses really value. The skills are very transferable and can be utilised in so many different areas.” 

The professional recognition worldwide is another aspect that carries additional appeal to the younger generation keen to hone their skills in other parts of the globe.

 “Broadly speaking, a Chartered Accountant trained in Ireland can easily adapt that to another jurisdiction, and does certainly open doors right across the world.”

 The survey findings identified a range of initiatives across Irish workplaces to facilitate team healthy work-life balance. The most common tools made available were the option for hybrid working; parental and carers’ leave; and an employee assistance programme.

Job satisfaction was high amongst those surveyed, with 63% satisfied with the non-monetary aspects of their job, in addition to three-quarters satisfied with their work environment. 

Elaine Brady, managing partner at Barden, said: “Despite the continued backdrop of macro level uncertainty over the past 12 months, the demand for accounting talent seen in 2023 has continued strongly into 2024. Differentiating themselves and creating clear career paths is a key challenge for companies throughout Ireland. Accurate data on intrinsic and extrinsic reward can create competitive advantage for those who choose to use it.

"The insights gained from this publication can also help businesses and hiring managers to craft competitive reward structures to aid not just talent attraction, but as importantly, talent retention. It is also extremely interesting to see that 83% of members have some form of hybrid working arrangements, with 3 days a week in the office becoming the average.”

 She added that it is interesting to note the change in respondents’ perception of AI, and how it will positively impact their day-to-day work, up to almost 57% this year, a significant increase on last year’s 44%. This in turn has an impact on satisfaction with their work, which has also increased this year to an impressive 76% of Chartered Accountants being either satisfied, or very satisfied with their work environment.