BDO in the Media
Press Coverage
  Business Plus October 2003
Regional Differences In Costs of Employing Accountants
A recently conducted survey by BDO Simpson Xavier, Limerick has concluded that
it is 27% cheaper for Mid West based companies to employ an accountant than it is for companies in Dublin with
similar levels of experience.
A survey of 60 qualified accountants and 60 companies comprising of multinationa
ls and indigenously owned companies operating throughout the Mid West identified the existence of the salary gap.
The Mid West Salaries were compared to data received from six leading accounting recruitment companies in the
Dublin area.
When compared with salaries in the Mid West, candidates in the Dublin area
earned 26% more one year after qualifying. Dublin based accountants with two years post qualification experience
earned on average 24% more while those who were three years qualified earned up 30% more. In financial terms this
amounts to an average difference of almost €10,000 per year of for the first three years after qualifying.
Commenting on the findings Maurice Carr, Recruitment Partner, noted
'While salary levels in the Midwest are lower, the lower living costs and less congestion means that, in real terms,
the mid-west remains a very attractive place to pursue an accounting career, both financially and in terms of
career progression. Having spoken to a number of accountants who have based themselves in the mid-west, they all
felt that the difference in the cost of living and quality of life more than compensates for the salary differential'.
He added 'Companies in the Mid-west are in the happy position of being able to employ the highest calibre of
accountants at a more competitive salary level than their Dublin counterparts. These accountants have been exposed
to the best training and experience available and now see the mid-west region as offering exciting opportunities
in both the indigenous and multi-national sectors'.
The study also found that other benefits become a significant part of the
candidates salary package in the Dublin region while it did not apply to the same extent in the Mid West.
Carr highlighted 'In the current marketplace, companies operating in the Mid West region can save over 25% on
the appointment of accountants with 1-3 years experience compared with that of their Dublin counterparts' ./p>
Irish Times September 25th 2004
Differences Between Multinational and Indigenous Firms in approach to pensions
A recent salary and benefits survey conducted by BDO Simpson Xavier Recruitment
has identified a variation between pension contribution practices between indigenous Irish companies and
multinational companies (MNC’s). A national survey of 500 accountants from the four main Irish accounting bodies
highlighted that almost 70% of accountants employed by indigenous Irish firms receive a pension contribution compared
to 93% of accountants employed by multinational firms. Despite the gap the survey established that pension
contributions from indigenous Irish firms per employee are higher than those in MNC’s.
Recruitment partner Maurice Carr explained 'the results of the survey highlighted
a notable difference between practices of indigenous firms and multinationals in relation to some areas of employment
benefits.' He added 'It would appear that a more universal approach is in place for pension contributions among MNC's
although our research highlighted the level of contribution per employee is higher for accountants in indigenous
firms.' The research established that the largest percentage of pension contributions among indigenous firms was
greater than 6% while there was a greater variation in contribution levels among accountants in MNC’s.
Carr outlined that 39% of accountants in indigenous companies received a 10% or greater contribution as opposed to
25% of accountants working in MNC’s.
The largest number of survey participants without pension coverage were qualified
for less than five years. On the evidence of the research take up of pensions is highest when accountants are
qualified for at least 10 years. Carr added 'what is very evident on the basis of benefits provided by companies
is that younger employees place greater importance on more immediate benefits such as bonuses, share options and
car allowances at the expense of investing in their pensions.' A total of 500 accountants were surveyed nationally
across a range of industries.
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