Chartered Accountant Average Salary in Jersey 2024
How much money does a person working as Chartered Accountant make in Jersey?
LOW
2,300
GBP AVERAGE
5,000
GBP HIGH
7,950
GBP
A person working as Chartered Accountant in Jersey typically earns around 5,000 GBP. Salaries range from 2,300 GBP (lowest) to 7,950 GBP (highest).
Salary Variance
This is the average salary including housing, transport, and other benefits. Chartered Accountant salaries in Jersey vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Chartered Accountant Pay Scale and Salaries in Jersey
Salary Structure and Pay Scale Comparison
4,740 GBP or more
4,160 to 4,740 GBP
2,860 GBP or less
2,860 to 4,160 GBP
 2,300 GBP |
4,780 GBP |
7,950 GBP |
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
Salary Range, Minimum Wage, and Starting Salary
Salaries for the position Chartered Accountant in Jersey range from 2,300 GBP (starting salary) to 7,950 GBP (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.
Median Salary
With a median salary of 4,780 GBP, half of the professionals who work as Chartered Accountant in Jersey earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.
Percentiles and Salary Scale
The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Chartered Accountant in Jersey earn less than 3,850 GBP, while 75% earn more. Similarly, the chart shows that 75% earn less than 5,510 GBP while 25% earn more.
Pay Scale Structure
To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Chartered Accountant in Jersey compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 2,860 GBP to 4,160 GBP. About 20% of salaries are below the 2,860 GBP mark, while 10% fall within the range of 4,160 GBP to 4,740 GBP. Only 5% of individuals have salaries exceeding 4,740 GBP.
Salary Comparison by Years of Experience / Chartered Accountant / Jersey
How do experience and age affect pay?
| 0 - 2 Years | 2,610 GBP | |
| 2 - 5 Years | +34% | 3,490 GBP |
| 5 - 10 Years | +48% | 5,160 GBP |
| 10 - 15 Years | +22% | 6,290 GBP |
| 15 - 20 Years | +9% | 6,850 GBP |
| 20+ Years | +8% | 7,420 GBP |
The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Chartered Accountant and this is what we found.
Employees with less than two years of experience earn approximately 2,610 GBP.
While someone with an experience level between two and five years is expected to earn 3,490 GBP, 34% more than someone with less than two year's experience.
Moving forward, an experience level between five and ten years lands a salary of 5,160 GBP, 48% more than someone with two to five years of experience.
Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 6,290 GBP, 22% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 6,850 GBP, 9% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 7,420 GBP, 8% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
Salary Comparison By Education / Chartered Accountant / Jersey
How do education levels affect salaries?
Displayed below is the average salary variance between different education levels of professionals working as Chartered Accountant.
| Certificate or Diploma | 2,980 GBP | |
| Bachelor's Degree | +57% | 4,680 GBP |
| Master's Degree | +68% | 7,840 GBP |
We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Chartered Accountant in order to make a comparison.
Level 1: Certificate or Diploma
Employees at this education level have an average salary of 2,980 GBP.
Level 2: Bachelor's Degree
At this level, the average salary becomes 4,680 GBP, 57% more than the previous level.
Level 3: Master's Degree
At this level, the average salary becomes 7,840 GBP, 68% more than the previous level.
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in Jersey costs anywhere from 25,800 GBP to 77,500 GBP and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
Salary and Compensation Comparison By Gender / Chartered Accountant / Jersey
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Chartered Accountant in Jersey, the average difference between the salary of male and female employees is 19%.
| Male | 5,440 GBP | |
| Female | -16% | 4,560 GBP |
Salary Comparison By Gender in Jersey for all Careers
Average Annual Salary Increment Percentage / Chartered Accountant / Jersey
How much are annual salary increments in Jersey for individuals working as Chartered Accountant? How often do employees get salary raises?
Individuals working as Chartered Accountant in Jersey are likely to observe a salary increase of approximately 8% every 28 months. The national average annual increment for all professions combined is 5% granted to employees every 28 months.
Jersey / All Professions
The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency
Worldwide Salary Raises: All Countries and All Jobs
Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Bonus and Incentive Rates / Chartered Accountant / Jersey
How much and how often are bonuses being awarded?
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59% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 41% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 2% to 7% of their annual salary.
| Received Bonus | 41% | |
| No Bonus | 59% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus, where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Average Hourly Wage / Chartered Accountant / Jersey
29 GBP per hourThe average hourly wage (pay per hour) for individuals working as Chartered Accountant in Jersey is 29 GBP.This is the rate they get paid for every worked hour.
About The Hourly Pay Rate
The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for people working as Chartered Accountant in Jersey is 13 GBP. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Salary comparison with similar jobs
| Job Title | Average Salary |
| Accounting and Finance |  -100% | |
| Accountant | 3,810 GBP | -24% |
| Accounting Assistant | 3,000 GBP | -40% |
| Accounting Manager | 7,660 GBP |  +53% |
| Bookkeeper | 2,470 GBP | -51% |
| Chartered Accountant | 5,000 GBP | -0% |
| Corporate Treasurer | 7,070 GBP | +41% |
| Financial Analyst | 6,490 GBP | +30% |
| Financial Manager | 10,600 GBP | +110% |
| Internal Auditor | 4,930 GBP | -1% |
Government vs Private Sector Salary Comparison
Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Jersey is 25% on average across all career fields.
| Private Sector | 4,600 GBP | |
| Public Sector | +25% | 5,740 GBP |
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for the job title Chartered Accountant in Jersey?
A good and competitive compensation would range anywhere between 4,780 GBP and 5,510 GBP. This is a very rough estimate. Experience and education play a very huge part in the final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.
Base / Basic Salary
The base salary for a careers like Chartered Accountant in Jersey ranges from 2,300 GBP to 3,850 GBP. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
