Bonuses for insolvency and restructuring (I&R) professionals are on the rise, according to research from accountancy and finance recruiter Marks Sattin.

The research reveals average salaries for I&R directors have risen 17.5% to £117,500 in the last year.

Audit directors have experienced pay rises of 5% in the last year, with senior managers’ salaries rising by 11%, reaching an average of £75,000, with some Big 4 firms offering up to £92,000. I&R professionals are set to receive average bonuses of £11,000.

Shaila Verma, executive consultant of the insolvency division at Marks Sattin, says: “Many businesses are currently under pressure to refinance as loans made before the recession have expired and business models have come under greater scrutiny. Post-crunch credit is much harder to come by and many companies – especially retailers – are struggling to demonstrate their businesses are viable in the current market.

“The insolvency and restructuring sectors are growing as a result and in the resulting war for talent, remuneration packages are on the rise with an increased opportunity for bonus. So while salaries for the majority have grown relatively modestly, bonuses will rise sharply as employers manage the best people to look after the rapidly growing workloads.”