Average External Auditor Salary in Hartlepool, United Kingdom for 2024
In this article, we will look at the average External Auditor salary for 2024 in Hartlepool and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!
The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.
All salary information is in the local currency, which is the British pound. To keep things simple, we are using the GBP currency code instead of the currency symbol £.
How Much Does an External Auditor Make in Hartlepool?
An External Auditor working in Hartlepool will typically earn around 71,100 GBP per year, and this can range from the lowest average salary of about 34,800 GBP to the highest average salary of 107,700 GBP.
These are average salaries for an External Auditor in Hartlepool and include benefits such as housing and transport. It's also possible for an External Auditor to earn more or less than the average salaries shown above.
External Auditor salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.
Distribution of External Auditor Salaries in Hartlepool
So we've looked at the average salaries an External Auditor will earn in Hartlepool. The next interesting data point is the distribution of salaries.
Salary ranges
We already know that an External Auditor can earn between 34,800 GBP and 107,700 GBP on average in Hartlepool. This is known as the range in statistics.
The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.
Median salary
The median salary for an External Auditor in Hartlepool is 67,500 GBP. This is the middle value in the distribution of salaries.
What this means is that approximately 50% of the population earn less than 67,500 GBP, and 50% of the population earn more than 67,500 GBP.
If you are earning more than the median salary, that's a good indicator that you are being paid well.
If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).
Percentiles
Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.
For the average External Auditor salary in Hartlepool, 25% of the population are earning less than 48,600 GBP while 75% of the population earn more than 48,600 GBP.
75% of the population earn less than 81,900 GBP, and 25% of the population earn more than 81,900 GBP.
Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.
The difference between a median and an average salary
The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.
- If your salary is higher than the average and the median salary, you are earning well compared to others.
- If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
- If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.
External Auditor Salary by Experience Level in Hartlepool
The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.
We have researched the average external auditor salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.
- 0 - 2 Years Experience. An External Auditor in Hartlepool that has less than two years of experience can expect to earn somewhere in the region of 42,400 GBP.
- 2 - 5 Years Experience. With two to five years of experience the average External Auditor salary would increase to 54,900 GBP.
- 5 - 10 Years Experience. From five to ten years of experience as an External Auditor, the average salary would be 71,400 GBP.
- 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 86,600 GBP.
- 15 - 20 Years Experience. An External Auditor with 15 to 20 years of experience can earn an average of 94,000 GBP.
- 20+ Years Experience. For an External Auditor with more than 20 years, the expected average salary increases to 100,700 GBP.
Average Salary by Experience Chart
0-2 Years |
42,400 GBP
|
|
2-5 Years | +34% |
54,900 GBP
|
5-10 Years | +30% |
71,400 GBP
|
10-15 Years | +21% |
86,600 GBP
|
15-20 Years | +9% |
94,000 GBP
|
20+ Years | +5% |
100,700 GBP
|
External Auditor Salary by Education Level in Hartlepool
As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?
In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.
The salary you can earn based on your education is very specific to both your location and the career path you choose.
In our research, we looked at the average salary for an External Auditor in Hartlepool based on the education level of the employees in order to find out whether a better education level would increase your salary.
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Certificate or Diploma. An External Auditor in Hartlepool with a certificate or diploma education can earn an average salary of 49,300 GBP.
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Bachelor's Degree. An External Auditor in Hartlepool with a bachelor's degree education can earn an average salary of 76,000 GBP.
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Master's Degree. An External Auditor in Hartlepool with a master's degree education can earn an average salary of 107,300 GBP.
Average Salary by Education Chart
Certificate or Diploma |
49,300 GBP
|
|
Bachelor's Degree | +52% |
76,000 GBP
|
Master's Degree | +42% |
107,300 GBP
|
How Much is a Master's Degree or MBA Program?
The approximate cost of a master's degree or post-graduate program like an MBA in United Kingdom is around 29,600 to 88,700 GBP and takes two years to complete.
As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.
It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.
Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.
External Auditor Salary Compared by Gender
In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.
In Hartlepool, a male external auditor will earn an average of 71,000 GBP, while a female external auditor will earn around 66,200 GBP.
This means that a male external auditor earns approximately 7% more than a female external auditor for performing the same job.
Average Salary by Gender Chart in Hartlepool
Male |
71,000 GBP
|
|
Female | -7% |
66,200 GBP
|
External Auditor Average Pay Raise in Hartlepool
In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.
From our research, we can see that the average pay raise for an External Auditor in Hartlepool is around 12% every 15 months.
The national average pay raise across all professions and industries in United Kingdom is around 9% every 15 months.
In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.
To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:
Annual Increase = ( Increase Rate ÷ Months ) × 12
So for this example, it would be:
Annual Increase = ( 12 ÷ 15 ) × 12 = 10%
What this means is that an External Auditor in Hartlepool can expect to receive an average pay raise of around 10% every 12 months.
Annual Pay Raise by Industry in Hartlepool for 2024
In the chart below, you can see the average annual pay raise percentages for each of the major industries in United Kingdom.
You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.
Banking |
3%
|
|
Energy |
6%
|
|
Information Technology |
9%
|
|
Healthcare |
3%
|
|
Travel |
6%
|
|
Construction |
9%
|
|
Education |
3%
|
External Auditor Bonus and Incentive Rates in Hartlepool
Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.
Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.
An External Auditor is a moderate bonus based job, with 55% of employees reporting at least one bonus in the last 12 months.
45% reported that they had not received any bonuses in the previous 12 months.
For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 3% to 5%.
Received Bonus |
55%
|
|
No Bonus |
45%
|
What are the Types of Bonus?
There are a number of difference types of bonus you can receive in a job. Including:
- Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
- Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
- Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
- Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.
Government vs Private Sector Salaries
Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.
Public sector employees in United Kingdom earn approximately 7% more than private sector employees in the same role.
Public Sector |
72,700 GBP
|
|
Private Sector | -7% |
68,200 GBP
|
Salaries for Jobs Similar to an External Auditor
In the table below, we have salary information for jobs that are similar to an External Auditor in Hartlepool.
Salary Comparison by City
If you want to compare salaries with different cities in United Kingdom, you can use the links below to explore the data for each specific city we have researched.
Salary Comparison by State
The table below includes links to the average salary for each state in United Kingdom.
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