Salary Guide – Finance roles in Housing Associations

Salaries and Contract Rates for Accountancy and Finance permanent and interim roles in Housing

2024 - Review and Background

Housing remains at the forefront of public, and political, debate. The new Labour government has pledged to transform the sector, unleashing house building and providing much needed new affordable housing stock.

The Autumn Budget was viewed by the housing sector as largely positive.

• New funding of £500million was allocated to the Affordable Homes Programme (AHP)
• A 5 year rent settlement for social housing landlords set at the Consumer Price Index (CPI) plus one per cent.  
• Reductions in Right to Buy discounts and allowing councils to keep more of the proceeds – predicted to save local authorities £1.2 billion by 2029-2030.

Although these, and other measures, are seen as positive for the sector, there has been less enthusiasm about the changes in employers National Insurance contributions which will increase costs for Housing Associations.

And, the additional funding for the AHP will only have a small impact on the government’s plans to build their planned 1.5million new homes.

For the next year, then, Housing Associations will remain focused on delivering cost-savings and efficiencies, with the finance department tasked with implementing them.

Salary and Interim rate guide

We’ve collated salary and interim rate data to provide an overview of the hiring landscape over the course of the past 12 months.

Job title	Salaries	Day Rates
Chief Financial Officer - CFO	£120k - £160k	£900 plus
Finance Director	£100k - £140k	£800 - £1000
Deputy Director of Finance	£80k - £100k	£650 - £850
Head of Finance	£70k - £90k	£500 - £600
Head of Management Accounts	£65k - £85k	£400 - £600
Head of Financial Accounts	£65k - £85k	£400 - £600
Head of FP&A	£65k - £85k	£400 - £600
Financial Manager/Controller	£55k - £75k	£300 - £400
Qualified Accountant PQE	£55k - £75k	£300 - £400
Newly-qualified Accountant	£48k - £60k	£270 - £350
Part-qualified Accountant	£37k - £50k	£170 - £270
Finance Officer	£27k - £37k	£150 - £200
Development Accountant	£50k - £75k	£300 - £400
Capital Accountant	£50k - £60k	£270 - £350
Rent & Service Charge Manager	£45k - 55k	£200 - £270
Rent & Service Charge Accountant	£35k- £45k	£170 - £250

The widest range in salaries and job rates can be found with senior roles rather than the lower levels, where the market rate prevails. The size and maturity of an organisation can also have an impact on the range of salaries paid for each role. Interim rates are candidate rates plus agency margin.

London Weightings

Many of our clients are based in London and include a weighting for accountancy and finance staff who work in the capital.

Housing Associations
Average London weighting	£3,300
Highest London weighting	£5,000
Lowest London weighting	£2,800

Weightings for working in the capital can usually be found in the non-profit and public sector. However, according to the latest independent data published by the mayor's office, the amount paid falls short of the actual uptick of living costs, particularly for those living in central London.

How have salaries and rates changed?

Over the past 12 months, there has been little change in salary and interim day rates across the market. This reflects the broader trend we’ve seen in other key non-profit markets – universities and charities – and the public sector. Some organisations have, though, awarded one-off payments or given small percentages increases to help off-set the cost of living increase.

And, there has been little change in hiring trends across the spectrum of roles. Demand for Qualified Accountants remains steady, both for interim and permanent.

The only decrease in demand we have seen is for Development Accountants, reflecting the reduced number of developments produced by the housing sector over the past couple of years

Looking ahead – hiring trends

In the main, we are expecting salaries and rates to remain static across the board, regardless of the seniority of the role or specific job type; there are no 'pockets' of job type that are showing signs of bucking this trend.

From conversations we’ve had with Housing Associations of varying sizes, we anticipate staffing will remain at a similar level in 2025. However, new roles are likely to be subjected to more scrutiny prior to sign-off in order to ensure the right investment decisions are being made and value for money is achieved.

Although it seems steps are being taken to inject a rapid pace of change in the sector, it will take time for new policies to take effect. In the meantime, staffing will remain stable and the focus for finance teams will continue to be on cost-saving and efficiency rather than new projects.

Boston Hale has worked closely with G320 and G15 Housing Associations for many years, supplying interim and permanent mid to senior finance talent.

Contact Catherine Hegarty for a confidential discussion on hiring into your housing finance department.

 

Our data was compiled from December 2023 - December 2024 from research conducted with clients, candidates, interims, our database and external sources. It reflects salaries and rates across the UK within the housing sector. Rates will vary according to organisation, employers have unique renumeration strategies and other benefits have not been taken into account. The figures presented are intended as a guide. For specific sectors or regions, please contact our team. Interim rates are candidate rates plus agency margin.

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