Group treasurers in Greater London are on pay packets of around £160,000, up from £140,000 last year, new research reveals.
Meanwhile, assistant treasurers in the capital earn around £110,000, with treasury managers on approximately £65,000.
According to the Hays Accountancy & Finance Market Overview and Salary Guide 2014, group treasurers working for FTSE 250 companies outside the capital earn an average salary of £100,000-£120,000, dropping to £90,000 in Scotland.
Group treasurers that work for SMEs can expect to earn anything from £60,000 in Wales, Scotland and southwest England to £80,000 in the Midlands and £110,000 in Greater London.
Outside London, assistant treasurers for FTSE 250 companies earn an average salary of £70,000-£90,000, while those who work for SMEs typically take home £45,000-£64,000. Treasury managers for large corporates in the regions generally command £40,000-£45,000, with Scotland and southeast England paying around £60,000. Treasury accountants are paid between £32,000 and £50,000, depending on location, while salaries for treasury analysts typically range from £27,000 to £42,000.
Group treasurers changing jobs and employers opting to expand their treasury teams is sparking movement at all ranks in treasury. Hiring is also being boosted by the Big Four accountancy firms, which are recruiting treasurers from industry into their treasury advisory service lines.
ACT engagement director Peter Matza, who contributed to the guide, said: “The skill and expertise that qualified treasurers can bring to an organisation mean that the profile of treasury continues to climb. At the ACT, we are seeing consistent year-on-year annual growth of 3% in our student numbers while our accredited employer programme has taken off rapidly.”
He added: “With finance professionals increasingly expected to play a role in setting company strategy, treasurers are finding that they have more influence with the board than ever before.”
Sally Percy is editor of The Treasurer