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Accountancy Jobs Market 2024: A Thriving Landscape for Qualified Professionals
Accountancy Jobs Market 2024: A Thriving Landscape for Qualified Professionals
The accountancy industry has consistently demonstrated its resilience and adaptability in the face of economic challenges, and 2023 was no exception. Despite global economic uncertainties, the demand for qualified accountants remained strong, with a persistent shortage of candidates fuelling competitive hiring practices and salary growth.High Demand for TalentAcross all core areas of accountancy, from audit and tax to financial reporting and management consulting, there was a palpable demand for skilled professionals. This pervasive demand extended beyond traditional industries, with the IT sector emerging as a significant driver of hiring activity. Big Tech companies, though less aggressive in their recruitment compared to previous years, continued to expand their financial teams, and smaller tech firms within the AI and other tech sectors were also actively seeking accountants.Salary Inflation and Permanent OpportunitiesThe tight labour market translated into significant salary increases for accountants. Most jobs experienced a 5-7.5% boost in compensation throughout 2023, and this trend is expected to continue into 2024. The heightened demand for permanent staff has put candidates in a strong bargaining position, enabling them to negotiate favourable compensation packages and seek out opportunities that align with their career goals.Embracing Remote WorkThe accountancy profession is well-suited for remote work arrangements, and the industry has embraced this flexibility with open arms. Approximately 90% of the accountancy jobs Sigmar have recruited for offer some form of hybrid working, allowing professionals to maintain a healthy work-life balance and expand their geographic options.Temporary Market ResilienceWhile the first half of 2023 saw a slowdown in the number of temporary and contract positions, the second half witnessed a notable rebound. Multinational corporations (MNCs) in the tech/software/pharma sectors were particularly active in hiring contractors, boding well for the temporary market in 2024.Salary Premium for ContractorsContract roles continue to offer a substantial salary premium compared to permanent positions, often 10-20% higher. This premium is attributed to the flexibility and reduced overhead costs associated with contractor engagements.Hybrid Working Preferred by Both PartiesCompanies seeking to hire contractors often prioritize those willing to embrace a hybrid work arrangement, typically a 3/2 split between remote and office-based work. This flexibility is appealing to both employers and contractors, as it allows for better focus, productivity, and work-life balance.In summary, the accountancy jobs market in 2023 was characterized by strong demand, salary growth, and a growing preference for remote work. With the temporary market rebounding and contractors commanding a significant salary premium, the outlook for qualified accountants remains exceptionally positive. As the industry continues to evolve and adapt to technological advancements, accountants who possess strong technical skills and a commitment to continuous learning will be well-positioned to thrive in this dynamic and rewarding field.
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Securing Your Accountancy Interview: 8 Top Tips for Success
Securing Your Accountancy Interview: 8 Top Tips for Success
In today's competitive job market, acing an accounting interview requires more than just a strong resume. Employers are looking for candidates who not only possess the necessary technical skills but also demonstrate adaptability, problem-solving abilities, and a proactive approach to challenges. To help you stand out in your next accounting interview, we've compiled a comprehensive guide on showcasing your expertise and nailing those tough questions.1. Showcase Your Software ProficiencyIn today's digital age, proficiency in accounting software is non-negotiable. Familiarise yourself with popular software suites such as QuickBooks, Xero, or SAP. Highlight your ability to navigate these tools effectively, emphasising your experience in managing financial data, generating reports, and streamlining processes. Be ready to provide examples of how you've used these tools to enhance efficiency and accuracy in your previous roles. By showcasing your software proficiency, you demonstrate your adaptability and readiness to leverage technology for better accounting practices. Such skills are invaluable in ensuring accurate and efficient financial management, making you a valuable asset to any organisation.2. Analyse Financial StatementsBefore the interview, thoroughly review the company's financial statements. Demonstrate your understanding of their financial position and discuss how your skills can contribute to their growth. Demonstrating your ability to dive into complex financial statements and extract meaningful insights is crucial. Practice interpreting balance sheets, income statements, and cash flow statements. During the interview, discuss instances where you've identified trends, anomalies, or potential areas for improvement based on your analysis of financial data. Your capacity to understand the story behind the numbers will show your potential employers that you're more than just a numbers cruncher; you're a strategic thinker who can provide valuable insights for decision-making. Effective financial analysis is at the core of informed business decisions, and your skills in this area are indispensable for driving organisational growth.3. Sector and Client Turnover KnowledgeResearch the industry or sector your prospective employer operates in, as well as their clients. Understand the challenges and opportunities specific to that sector. Having a grasp of industry trends and regulations will demonstrate your commitment to providing tailored solutions and will also showcase your willingness to go the extra mile to meet the needs of your clients. By displaying your industry knowledge, you show that you're not just applying generic accounting principles, but you're tailoring your approach to the unique demands of the sector. This knowledge positions you as a proactive partner who can provide targeted financial guidance.4. Highlight Project InvolvementAccounting roles often involve working on various projects, such as audits, mergers, or system implementations. Highlight your experience with these types of projects and your contributions to their success. Discuss your role in coordinating teams, managing timelines, and ensuring that projects are completed within budget. Sharing specific examples will demonstrate your project management skills and ability to work collaboratively. By emphasising your project involvement, you indicate that you're a proactive team player who can handle multifaceted tasks. This skillset is essential for ensuring the seamless execution of projects that have financial implications.5. System Implementation ExpertiseWith businesses increasingly relying on sophisticated accounting systems, your expertise in system implementation can set you apart. Highlight your involvement in migrating accounting processes to new software, integrating systems, or improving existing platforms. Explain how you've helped teams navigate transitions, minimise disruptions, and maximise the benefits of new technologies. By showcasing your system implementation expertise, you exhibit your forward-thinking approach and your role in keeping your organisation technologically up to date. In a rapidly evolving tech landscape, your ability to effectively implement and integrate accounting systems is a significant asset.6. Process Improvement ExperienceEfficiency is the backbone of successful accounting. Share instances where you've identified inefficiencies in accounting processes and implemented improvements. Whether it's streamlining invoice approval workflows or enhancing payroll procedures, your ability to optimise processes will showcase your commitment to continuous improvement and resource optimisation. By discussing your process improvement experience, you convey your proactive nature and your dedication to enhancing operational effectiveness. This attribute resonates with employers seeking candidates who can contribute to long-term efficiency gains.7. Addressing Challenges in the Accounting FieldThe accounting landscape is not without its challenges. Show that you're not only aware of these challenges but also equipped to tackle them head-on. Discuss how you've dealt with issues like regulatory changes, data security concerns, or complex tax situations. Demonstrating your ability to handle adversity with poise and problem-solving skills will inspire confidence in your potential employers. By addressing challenges, you demonstrate your resilience and your capacity to thrive even in dynamic and demanding environments. Your readiness to navigate challenges positions you as a reliable professional who can adapt to evolving financial scenarios.8. Minimising Human ErrorWhile human error is inevitable to some extent, interviewers are interested in candidates who actively take steps to mitigate it. Discuss your attention to detail, your double-checking processes, and your commitment to thorough reviews before finalising financial documents. Highlighting your strategies for minimising errors will reassure interviewers that you prioritise accuracy in your work, ensuring that the integrity of financial information is upheld. In a field where precision is paramount, your dedication to minimising human error underscores your commitment to maintaining the highest standards of accuracy.ConclusionSecuring success in an accountancy interview goes beyond showcasing your technical skills. It involves a comprehensive understanding of the industry, a willingness to take on challenges, and the ability to communicate effectively about your experiences and accomplishments. By following these eight top tips, you'll be well-prepared. Remember, preparation is the key to confidence, and confidence is what will set you apart and lead you towards landing your dream accountancy role. So, step into that interview room armed with knowledge and self-assurance, ready to make a lasting impression that highlights your potential as a valuable asset to any organisation.
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How To Write Your Accountancy CV
How To Write Your Accountancy CV
As a recruiter, I have seen some good, some bad and some ugly CVs cross my desk. There are a couple of things which an accountancy CV should always contain and similarly, a few things which should never appear. Below I will discuss in a number of points how you, as an accountant, can grab the attention of the prospective audience i.e. recruiters or HR professionals and secure yourself an interview. Personal ProfileThe one thing you are looking to gain from your CV is an interview and hopefully, at the end of the process, a job. The first thing we should realise is that a HR professional or recruiter takes only 10-15 seconds to decide whether they are going to delve deeper into your CV and discover what you can offer. So to grab their attention you should include a short summary of yourself which is essentially a description of what an employer would be getting if they hired you. “A highly experienced ACA big 4 qualified accountant with 3 years PQE in a global FMCG multinational. Highly adaptable team member with strong communication skills. Looking for a role with a progressive multinational in a commercial finance capacity.” QualificationsAs a finance professional, your qualifications and certificates are some of the first things employers or HR will look for on your CV. For this reason you need to put exact details of your education and how proficient you were in each area, for example: 1st time pass ACA. The same goes with your degree or college achievements. You need to include the level of the qualification, the name of the degree and the name of the college, not to mention the dates which you attended. I would also include your leaving certificate points and results here to save the employer looking for them later in the process. Experience and AchievementsWhen listing the companies you have worked for, my opinion is that you should use the same format every time. The experience should be listed from the most recent back to the beginning of your career. Each role must list the company name, dates employed, industry, monetary turnover and your position. If you have worked in a number of roles in the one company, you need to clearly specify the continuity of your time there and the different positions you held. For each role I would separately list your responsibilities and achievements and list them in the third person. Describe your responsibilities according to the requirements of the job specification you are applying for. As an accountant or finance professional, the more senior you are, the more important your achievements become. Potential employers want to see where you have run projects, cut costs, improved processes and generally exceeded expectations. IT and Software SkillsThese are extremely important to have on your CV as a role with a prospective employer could depend on the systems exposure you have had. I cannot begin to tell you the amount of times I have had to do a specific search for an accountancy package or system and began my search from there. If you happen to be a super user of any system, again have it noted in black and white. It could be the difference in you or someone else getting the job, and I have seen it happen. Skills and Hobbies This area of an Accountancy CV is difficult to advise on. I would recommend that skills such as fluency in a language should always be included and even have their own section but if you would like to list them here that is also ok. I would not recommend you put skills like “fastest pint drinker” on your CV but at the same time, an innocent skill or achievement like being a beauty pageant winner or Ireland’s strongest man can alienate you or intimidate the interviewer so always be careful in that regard. The reality is, you will not do yourself any harm leaving hobbies off your CV altogether but this is something to take on a case by case basis and speak to your recruiter if you are unsure. Proof Reading 9 out of 10 recruiters will agree with me when I say that seeing a CV with a number of grammatical or spelling errors is a major annoyance. The opinion is that if a candidate cannot take care while writing their CV, how much care and effort are they going to put into the role? Your CV is a ticket to an interview and can get you in front of the right people so there are no excuses if you cannot do a simple spell check before you send it off.
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The Importance Of An Efficient Accountancy Hiring Process
The Importance Of An Efficient Accountancy Hiring Process
Within the last 12 months the Irish market has seen a huge surge in the demand for accountants across a variety of sectors within Financial Services and Industry. An increase in the number of accounting and finance roles means it is a candidate market and companies must find methods to speed up hiring processes in order to prevent the loss of top talent.To help speed up the recruitment process we suggest taking the following steps: Produce a Detailed Job SpecHaving a clear and descriptive job specification will support the hiring manager in attracting top talent. Not only will this entice relevant candidates it also saves time further on in the hiring process when identifying how a candidate can actively contribute to the organisation. When identifying what the skills required for a specific role are it is important to acknowledge what the individuals objectives are going to be within the company and ultimately what you want them to achieve. Organisations need to reflect on the type of person that will fit into the team. Use a Reliable and Trustworthy Specialist RecruiterThis may appear to be an obvious statement, however choosing a recruiter who understands the Irish market and who can identify the best candidates will speed up the hiring process considerably. An effective recruiter will understand a finance job spec, meet candidates face to face and scrutinise CVs to ensure that a candidate has the relevant skills and experience you require. In some cases specialised recruiters will also conduct competency tests to ensure the best candidates are being brought to interview. Set Interview Dates In AdvanceFor every organisation it is paramount that they plan hiring processes in advance. If an interview process includes 2-3 rounds and involves multiple individuals in the business then it is important to make sure everyone is freely available. Companies must be flexible to meet candidates outside of work hours to ensure they don’t lose candidates to competitors. I would strongly suggest that companies assign a few days or afternoons for interviews, first and second stage if necessary. Once there is a clear plan in place, it will allow for a speedier hiring process. Use TechnologyWith more and more accountants returning to Ireland from international markets it is important for companies to attract talent before they return home. Companies can now utilise Google Hangouts to pre-interview candidates as well as using Skype and other video conferencing software as this helps to cut down on any unnecessary travel. Make an Immediate OfferIf an organisation is interested in a specific individual after the final interview then I suggest offering the role immediately after. The days of waiting a week to offer a candidate a position are long over. If a company decides to wait a day or two then expect to lose out to a competitor. If you are finding is difficult to fill an accountancy position or would like more information on the employment or recruitment market in Ireland at the moment please contact me on 01-4744626 or email me on gquinn@sigmar.ie