HOW TO NEGOTIATE A PAY RISE OR PROMOTION

Sharp Consultancy's Salary Survey 2025/26: Resetting the Landscape: Strategic Shifts in Finance Recruitment

It would be remiss not to start by addressing the elephant in the room — 2024 was a challenging year.While there were many reasons for this and numerous industries were affected, recruitment likely bore the brunt of it, particularly in the 6 months post-election(s).Whilst key roles and critical hires remained unaffected, certain head counts and processes were scrutinised and investment paused with internal restructures and automation utilised to reduce costs, in some instances, at the expense of employees. We subsequently saw an increase in candidate activity, with the talent pool strengthening. As those pressures eased in Quarter 4, recruitment processes saw improvement and green shoots have emerged. Optimism is on the rise in key hiring processes, albeit with a caveat. The cloud of additional cost increases in April, which is still dissipating. The senior finance and C-Suite market remains relatively unaffected, both regarding opportunities and candidates, it is the levels below that we have seen more change. In the evolving landscape of working dynamics, the volume of hybrid working is gradually waning despite sustained interest from candidates, presenting fewer job opportunities. While the blend of office and remote work remains desirable, it is no longer the predominant factor, indicating a notable shift in priorities for clients and candidates’ acceptance alike. Conversations with candidates underscore a growing desire around the importance of having a supportive mentor or manager and many professionals are increasingly open to a full-time return to the office if it guarantees enhanced guidance and avenues for professional advancement. "The salaries throughout transactional finance have stabilised across the region."Throughout the professional practice market, some similar trends have been observed but there have been noticeable differences in the past year. Salaries across the range of candidates in professional practice, from AAT to fully Qualified (ACA/ACCA) individuals are still rising and those firm’s able to offer competitive salaries alongside stronger training contracts are beating out the competition in a candidate market with a growing focus on study support packages and career advancement opportunities for Part-Qualified candidates, indicating an increase in demand from employers and the volume of available job seekers. The salaries throughout transactional finance have stabilised across the region, in what feels like the longest period of stability seen since Q4 2020 and we expect transactional finance salaries to remain stable throughout 2025/26, with anticipated salary increments to be moderate compared to the significant increases observed throughout the last 2 years. AI & Systems (process automation) continues to impact accountancy and finance, in particular, across larger functions but this has increased the need for wider interim support to assist with the transition and implementation especially with large, automated processes. Whilst 2025-26 will not be the same marketplace for recruitment as seen in previous years, there is certainly a growing level of optimism and whilst a more settled market may be seen as a negative in some areas, for those that have weathered the peaks and troughs over a longer period of time, it will feel very normal and a strong setting for both employees and employers to take advantage and thrive, with an increasing emphasis on growth and development.Download the full Salary Survey here!

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Negotiating a pay rise or promotion can be a difficult conversation; take a look at our suggestions for the best ways to approach it with your boss.

Benchmark industry salary levels

Research what the market rate is for people in similar roles with comparable levels of experience – ideally, look to salary bands within your region as they can vary considerably between different parts of the country. Take into account that benchmark levels are designed to give an indication and will often be presented as a bracket with upper and lower levels.

Gather your evidence

It pays to be well-prepared before speaking to your boss. Take time to consider why you think that you deserve a pay rise or promotion and make sure you can back up your claims with strong examples. Prepare your key points and try to anticipate questions that your boss may ask – treat the meeting in the same way that you would a job interview. If you have been offered a pay rise – and you feel you deserve more – see if there is a way you can work together to develop an agreeable solution.

Don’t wait for an annual performance review

It is important that you are continually highlighting your achievements and contributions throughout the year – don’t just wait for your annual performance review to run through a list of great things you have done in the last 12 months. By showing a consistently strong performance all year round, your request for a pay rise or promotion will not necessarily be unexpected.

Don’t just focus on salary

In periods of uncertainty, a pay rise or promotion is out of the question. However, look at other ways you can be ‘rewarded’ – can you negotiate additional holidays, flexible hours, compressed hours? Can you look at having your job title changed to recognise your additional contribution or responsibility? Whilst this may not come with an additional boost to your salary – yet – a more senior job title could have longer-term career benefits in terms of applying for new roles.

Sharp Consultancy specialises in the recruitment of temporary, interim and permanent finance and accountancy professionals. With offices in Leeds and Sheffield our highly experienced team of consultants recruit for positions throughout Yorkshire and beyond. CONTACT US today to find out more.