Money talks. Everyone wants a fair wage, and finance workers understand the importance of receiving the salary you deserve. In fact, recent studies suggest that 75% of accountants expect pay rises in 2018.
If you work in finance, you may be wondering how the salary expectations for finance roles are set to change in 2018. We all want a fair wage, and it’s only fair that certain salaries increase with the market and economy. But exactly what might the year hold for finance professionals?
As a sector, finance is set to have an interesting year. Research suggests that as of 2018 finance jobs are up 7.6%. This rise in job vacancies means that truly skilled finance professionals are becoming more valued. Skill shortages in the industry mean that businesses are starting to place higher value in skilled finance officials, leading to higher salaries being offered.
The remainder of 2018 is set to be a good time for senior finance executives, with a number of finance roles looking to receive increased salaries.
Think you deserve a pay rise? Could you be in the money? Let’s take a look at what might be some of the biggest pay rises in finance in 2018 that’ll have you rubbing your hands together.
So what finance role is set to receive the biggest salary increase this year?
With a predicted potential increase of over 4%, those of you in accountancy roles may just have a nice wage boost coming.
This could be great news for accountants, who hold a crucial role in their business’s financial function. But accountancy isn’t the only finance role that’s due a salary increase this year. According to the same research, finance workers in CFO and Senior Financial Controller roles could be seeing a similar potential salary increase.
Finance Director roles are also predicted to see a salary increase of 2.6%. So skill shortage and industry demand could mean good things for senior finance officials in 2018, but is it all sunshine and roses in finance?
Privacy Issues Are More Important Than Ever
As we covered in a previous post, issues of privacy are a hot topic in finance of late. Facebook data leaks mean that everyone is a bit more wary of their data privacy, especially online. This is a huge issue in finance, and has left many finance officials feeling a bit nervous.
After all, recent events have begged the question; just how secure is our financial information online? Who has access to our highly-personal data, and what can they do with it?
It’s not looking entirely bleak for our financial safety, though. The recent series of privacy breaches over the past few years has seen many financial and non-financial authorities step up their privacy practices. So your financial information might not be quite as at risk as you may think.
In addition to this, the recent implementation of the General Data Protection Regulation (GDPR) means that businesses are required to provide much more clarity on what data they collect, and what they do with it.
This means that, should the regulations be adhered to, everyone should have a much better idea of exactly who has their data. Not only that, but now everyone has the right to request your data be released. The general public indeed has more control over their private financial information than ever, and rightfully so.
So for those of you who might have healthy pay rises incoming, your finances might be safer than they seem. But that doesn’t mean you shouldn’t practice caution with your personal data online.