Chartered accountants in the financial services sector are paid more and receive better fringe benefits than their counterparts in industry and commerce, according to the annual salary survey of the Leinster Society of Chartered Accountants (LSCA).

Heads of finance in the industry and commerce sectors receive an average remuneration package of €110,500 per annum, compared to an average of €140,500 for a head of finance in the financial services sector.

A chartered accountant who qualified in 1996 and is employed by a large financial company earns an average remuneration package of €71,000.

A total of 625 chartered accountants responded to the survey, which was carried out earlier this year by Mr Brendan Burgess of the Accountants Panel on behalf of the LSCA.

Both financial services and industry pay more than accountancy practices, the report found, however the rate of pay in practice varies according to the size of the firm. In the top four accountancy firms, tax managers and directors earn an average of €101,000, audit managers are paid €89,500, while senior auditors and supervisors receive an average of €48,400.

Outside of the top four, however, managers are paid an average of €70,000, with seniors receiving €45,000.

The lowest salary paid was €24,000 to an accountant in a small company. The highest salary found was 20 times this amount, or €480,000. This was paid to a managing director in the industry and commerce sector, who also received a car.

The number of people who have the use of company cars has dropped from 40 per cent in 1999 to 23 per cent this year, largely due to changes in the tax treatment of benefits-in-kind.

Mr John Casey, chairman of the LSCA, said the survey showed that chartered accountancy was a well-paid profession and that there was potential for recently qualified accountants to earn significantly higher pay as their careers develop.