Company Secretary Average Average Salary in the UK: Overview, Scope & Benefits

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Summary

  • As a company secretary, you’ll need to ensure an organization complies with the legal and financial requirements.
  • Trainee Company Secretaries in the UK and Ireland usually start anywhere between 20,000 to 35,000 Pound Sterling per annum.
  • The average salary of a company secretary in London, England, is 58,000 Pound Sterling.
  • Experienced company secretaries with many years of experience have the potential to earn over 200,000 Pound sterling per annum in a private limited company.

The company secretary or CS is a strategic position of significant influence at the heart of governance operations within UK organizations. Company secretaries are required to have a broad skill set. It includes corporate law, governance, corporate secretarial practice, and finance.

As a company secretary, you’ll need to ensure an organization complies with the legal and financial requirements. That is why a thorough understanding of the laws that affect your area of work is vital. A company secretary in the UK has a diversity of responsibilities with the potential to earn six-figure salaries.

Company Secretary Job Opportunities in the UK

In the UK, company secretaries work across sectors in various organizations. From private companies to public companies to not-for-profit ones, the opportunities for a CS in the UK are endless. Some individuals work for professional service firms, while others run their businesses in partnerships or work as sole practitioners. The latter ones provide a range of clients with company secretarial services for a fee.

Responsibilities of a Company Secretary in the UK

The responsibilities of a company secretary may vary depending on the size of the organization, the sector in which it operates, and the job role. However, here are some of the typical responsibilities of a company secretary.

  • Supporting the board of directors and ensuring that they function effectively.
  • Keeping the board informed of the shareholders’ views.
  • Constantly monitoring the changes in relevant legislation and taking actions accordingly.
  • Overlooking the day-to-day administration of the organization. It could include maintaining statutory books, organizing AGMs and board meetings, and taking minutes.
  • Developing and overseeing that the organization complies with all applicable codes.
  • Paying dividends and taking an active part in sharing issues and mergers.
  • Filing vital documents like audit reports and annual tax returns with Companies House.

What Salary Can a Company Secretary Expect in the UK?

The Company Secretary Salary in the UK depends on factors like job title, location, and organization. In order to give you a clearer idea, let’s get into the salary that you can expect in different roles.

  • Trainee Company Secretaries in the UK and Ireland usually start anywhere between 20,000 to 35,000 Pound Sterling per annum.
  • On the other hand, an assistant Company Secretary earns around 56,000 to 84,000 Pound Sterling per annum.
  • This company secretary salary in the UK rises anywhere from 85,000 to 130,000 Pound Sterling per annum for a Deputy Company Secretary.
  • Experienced company secretaries with many years of experience have the potential to earn over 200,000 Pound Sterling per annum in a private limited company.

The ones at the top end of the salary scale and working for the Financial Times Stock Exchange can earn significant six-figure salaries with five-figure bonuses.

Qualifications/Education For Company Secretaries in the UK

This field is open to graduates of all areas in the UK. However, the following subjects may be preferable as they can offer some exemptions from the professional examinations:

  • Finance
  • Accountancy
  • Law
  • Business Management

If you’re looking to apply to larger firms and earn higher bucks, then a good honours degree is necessary. While some employers prefer graduates, others may consider candidates with relevant HND subjects.

Moreover, professional qualifications such as the CGI examinations that lead to the designation ‘Chartered Secretary’ are essential for public sector Chartered Secretaries. You can enter this career by finishing an apprenticeship scheme like the trainee-internships jobs advertised by the Chartered Governance Institute UK and Ireland.

The Chartered Governance Qualifying Program from this institute is divided into two levels, Part One and Part Two. The CGI has a list of registered tutor partners on their website that individuals can choose from while preparing.

Work Experience For Company Secretaries in the UK

Having significant professional experience is essential to growing as a Chartered Secretary in the UK. One of the most famous routes is to gain a few years of administrative work experience. Post that, you can undertake formal training in company secretarial work. Wondering what counts as relevant work experience in this field? Here are some of the niches you can gain experience in this field.

  • Office Management
  • Credit Control
  • Accounts
  • Purchasing
  • Insurance
  • Pension
  • Sales administration
  • Personnel

Some individuals consider a full-time diploma course to lead to a partial or full ICSA qualification. However, others qualify as accountants or lawyers with the goal of becoming Company secretaries eventually.

Career Prospects as a Company Secretary in the UK

One of the most famous routes to developing a successful career in this area is gaining chartered status with the Chartered Governance institute UK & Ireland. It requires tenacity and immense dedication.

Individuals with at least eight years of work experience (three being at the senior level) can apply to become a fellow at the CGI. You’ll have to stay up to date with the developments in the legislation throughout your career.

The best way of doing that is by reading professional journals such as CGI’s Governance & Compliance magazine and newsletters. Another thing that comes highly recommended is sharing practices with fellow chartered secretaries and networking.

Skills Required To Make It As a Top Company Secretary in the UK

Here are some of the skills required to make it as a top company secretary.

  • Management skills
  • Verbal and written communication skills
  • Interpersonal skills
  • The ability to work with individuals at all levels.
  • Analytical skills
  • Problem-solving skills
  • Attention to detail
  • Team Working skills
  • A commercial frame of mind
  • The ability to perform under pressure
  • A good grasp of corporate governance issues
  • Discretion when handling confidential information

Benefits of Becoming a Company Secretary in the UK

There are various benefits of becoming a company secretary in the UK. Read on to know about some of them.

  • The potential of earning a six-figure salary.
  • Access to a wide variety of job roles across sectors.
  • Being able to handle or having a diversity of opportunities.
  • A fast track to high-level roles.

Conclusion

Much like everywhere else in the world, the Company Secretary course and profession is a reputed one in the UK. Not only is it prestigious but also financially satisfying. Individuals who start a career in this field can expect to earn good salaries. Moreover, there are incentives that can be leveraged as well.

As a trainee company secretary, you will start anywhere between 20,000 to 35,000 Pound Sterling. Moreover, it brings benefits like a fast track to high-level roles and access to a wide variety of job titles across sectors.

If you’re looking to become an in-house legal expert and a compliance officer for an organization, this profession is for you. In order to get more information on company secretary salary in the UK, book your free counselling call on LeapScholar today!

FAQs

Q1. Can Indian CS work in the UK?

Ans. Yes, an Indian CS can work in the UK. There is a collaboration between ICSI and the Chartered Governance Institute UK and Ireland through a memorandum of understanding. It allows Indian Company Secretaries to work in the United kingdom. So, after clearing some papers, Indian CS professionals can work in England and Ireland.

Q2. How much does a company secretary earn in London, England?

Ans. The average salary of a company secretary in London, England, is 58,000 Pound Sterling as per Glassdoor.

Q3. How much is the average salary of a company secretary in Scotland, UK?

Ans. On average, a company secretary in Scotland makes 51,500 Pound Sterling.

Q4. What are the duties of a Company Secretary in the UK?

Ans. Some of the duties of a CS in the UK include maintaining statutory books, organizing board meetings, filing necessary documents with the Companies House, liaising with other external advisors and regulators.

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Kanika took a detour from academics for the corporate world. Now she works as a senior editor specialising in content creation, marketing, and strategy.