The average salary paid to Irish accountants increased by 7.2 per cent last year to €58,794, according to a survey by financial recruiting firm Marks Sattin.

It found that almost two thirds of accountants (62 per cent) expected their salary to rise in the next year and that 42 per cent of firms were planning to hire more staff this year.

The survey, based on responses from 289 Irish accountants, found that 44 per cent of accountants received an average bonus of 14 per cent (€8,419), compared to 51 per cent who received 10 per cent (€7,791) last year.

"This salary rise goes a long way to show the strength and competition for talent in the accountancy and finance sector in Ireland, " said Dan McKeown of Marks Sattin.

“Experienced accountants are highly valued at a time when there is a strong focus on financial health and compliance and these salary rises reflect that.”

Marks Sattin said average total remuneration, for those who received a bonus, would be €67,213, this year and that the average across all accountancy professionals in Ireland would rise to €62,692.

Although pay is rising, 35 per cent of Irish accountants expect to move roles in the next year in order to find a new challenge and develop their careers.

More than two thirds (69 per cent) of respondents said they would consider a move overseas “for the right role”.

"The main reasons for this are better employment prospects (58 per cent) and to improve their earning power (57 per cent)," the survey found, with the US (37 per cent), UK (36 per cent) and Australia (28 per cent) the most likely destinations.