1. Salary Survey 2012 Hertfordshire & North London Public Practice

2. Market Insight Despite difficult market conditions, 2011 saw an increase in audit & advisory and tax recruitment across all types of practice firms. This trend for experienced hires is expected to continue into 2012, particularly at Big 4 level, with firms keen to counter balance leaner graduate schemes in previous years. Whilst demand is likely to increase, salaries are expected to stay fairly static. Much of the recruitment for 2012 in the Hertfordshire/North London area is expected to be replacement positions rather then growth, as firms continue to operate as efficiently as possible. Recruitment of high calibre individuals in the Hertfordshire/North London area continues to be challenging with a shortage of newly qualified seniors. This is due to caution in the marketplace with candidates not taking risks, coupled with improved staff retention schemes. In the current market, it is common to see a good newly qualified holding more than one job offer. Given the competition to recruit top talent in the Hertfordshire/North London area, employers need to place greater emphasis on progression opportunities and identify the unique selling point of their firm.

3. Audit Salary Guide Big 4 FirmMid Tier FirmIndependent Partnership Audit Senior£43k£38k£30k Audit Manager£52k£48k£40K Audit Senior Manager £63k£60K£50K * The Salary Survey is based on current data from various sources and is offered as a guide only. For more detailed information please contact William Scott Associates directly. The figures quoted represent the upper end of the salary range at that level and do not include bonuses.

4. Tax Salary Guide Big 4 FirmMid Tier FirmIndependent Partnership Tax Senior£43k£38k£30k Tax Manager£53k£50k£40K Tax Senior Manager£65k£60K£50K * The Salary Survey is based on current data from various sources and is offered as a guide only. For more detailed information please contact William Scott Associates directly. The figures quoted represent the upper end of the salary range at that level and do not include bonuses.

5. Summary Q3 and Q4 of 2012 are likely to show an increase in vacancies across all firms in the areas of Audit & Advisory, Tax Salary increases are expected to be minimal The demand for newly qualified seniors in Big 4 is likely to continue