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Accountancy Jobs - 2018 Market Overview

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Practice

The practice market in 2017 experienced growth across most firms particularly in the larger, Top 20 ranked companies. The surge in business has resulted in expansion across all departments including tax, audit, risk, payroll and most notably corporate finance and advisory.

Due to positive market conditions, firms sitting in the Top 7 are now competing with the Big 4 for many contracts, particularly in the advisory space. This has led to an increase in demand for senior grade candidates who in turn have ambitions to fast track their careers to managerial level.

One by-product of the current employment landscape in practice is that we will see a greater amount of firms allowing for more frequent employee transition between divisions to promote retention. This can help produce a more well-rounded accountant who is adding value to their careers so is a win-win for both parties.


Salaries 

Practices in the past have sometimes struggled with retention, however, we have seen a shift somewhat with some firms now offering higher basic salary levels than in previous years to retain their people. In addition, improved benefits on offer include bonuses at certain levels and the all elusive “work-life balance” which in the past had not been a benefit you would have associated with accountancy firms.

There is every indication that 2018 will see accountancy firms shift up into another recruitment gear with an increase in graduate intake and experienced hiring. Therefore it is natural that all firms will need to do their utmost to retain the best talent on the market and salary levels will continue to rise due to this.


Financial Services 

The financial services jobs market for accountancy professionals continued it’s upwards growth trend last year. Even without the added benefit of companies relocating to Ireland post BREXIT, the confidence of both employer and employee alike has produced a healthy landscape with more opportunity for those who wish to change jobs. 
 
There is no doubt BREXIT has been a major contributor to the growth in the financial services jobs market. We have seen major international companies relocate operations to Dublin and others who already have a presence here have laid out plans to significantly increase their headcount. 
 
This is all positive news for jobseekers. Not only does this create opportunities that would not have existed without BREXIT, it also increases churn in the market involving more established financial services companies in Ireland who subsequently end up with more vacancies themselves.


Salaries

The major developments mentioned have contributed significantly to salary growth across most accountancy positions with increases of 5-10% apparent. Increased opportunity for jobseekers has pushed salaries up at a noticeable rate and we see this continuing throughout 2018 in the financial services sector.
Supply and demand factors will result in some positions seeing a bigger increase than others, however, it is anticipated that all positions within the accountancy field will see growth over the year ahead.


Industry & Commerce

With the economy continuing to grow at a relatively fast pace, this has resulted in more job creation across most sectors. As has been the case for the past few decades, it is the multinational companies creating the most job opportunities for accountancy professionals. However, we have also started to see a return to growth within the SME sector, a sector which until now had not made much of a recovery from the recession. 
 
The past year saw many new companies open offices in Ireland, particularly in Dublin. Technology and pharmaceutical companies have continued to be the prominent players in regards to job creation, however, we have also seen some successful indigenous companies add significantly to their workforce.
 
As with the other industries that employ accountancy professionals, job creation can create a domino effect which leads to even more opportunity across the market as people leave established jobs to start a newly created one. What has coincided with job creation over the past few years has been an increased level of jobseeker confidence within the industry sectors. The fear associated with moving jobs has subsided notably.
 
There will continue to be concerns over the long-term effects of BREXIT on some industries and the wider Irish economy, however, this uncertainty is not curtailing growth and affecting the job market at this moment in time. 


Salaries 

With more opportunities for recently qualified accountants, the competition to hire at this level has increased significantly. Whilst this level has seen the biggest increase in salaries, there have been increases across the board for accountancy professionals at nearly all levels within the industry sectors. 

We anticipate these factors will continue to push accountancy salaries northwards in 2018.



Looking for an accountancy and finance job? Check out our latest jobs here



Posted by Sam Breckon on 25 April 2018

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Accountancy Jobs - 2018 Market Overview

Accountancy Jobs - 2018 Market Overview

Practice The practice market in 2017 experienced growth across most firms particularly in the larger, Top 20 ranked companies. The surge in business has resulted in expansion across all departments including tax, audit, risk, payroll and most notably corporate finance and advisory. Due to positive market conditions, firms sitting in the Top 7 are now competing with the Big 4 for many contracts, particularly in the advisory space. This has led to an increase in demand for senior grade candidates who in turn have ambitions to fast track their careers to managerial level. One by-product of the current employment landscape in practice is that we will see a greater amount of firms allowing for more frequent employee transition between divisions to promote retention. This can help produce a more well-rounded accountant who is adding value to their careers so is a win-win for both parties. Salaries Practices in the past have sometimes struggled with retention, however, we have seen a shift somewhat with some firms now offering higher basic salary levels than in previous years to retain their people. In addition, improved benefits on offer include bonuses at certain levels and the all elusive “work-life balance” which in the past had not been a benefit you would have associated with accountancy firms. There is every indication that 2018 will see accountancy firms shift up into another recruitment gear with an increase in graduate intake and experienced hiring. Therefore it is natural that all firms will need to do their utmost to retain the best talent on the market and salary levels will continue to rise due to this. Financial Services The financial services jobs market for accountancy professionals continued it’s upwards growth trend last year. Even without the added benefit of companies relocating to Ireland post BREXIT, the confidence of both employer and employee alike has produced a healthy landscape with more opportunity for those who wish to change jobs. There is no doubt BREXIT has been a major contributor to the growth in the financial services jobs market. We have seen major international companies relocate operations to Dublin and others who already have a presence here have laid out plans to significantly increase their headcount. This is all positive news for jobseekers. Not only does this create opportunities that would not have existed without BREXIT, it also increases churn in the market involving more established financial services companies in Ireland who subsequently end up with more vacancies themselves. Salaries The major developments mentioned have contributed significantly to salary growth across most accountancy positions with increases of 5-10% apparent. Increased opportunity for jobseekers has pushed salaries up at a noticeable rate and we see this continuing throughout 2018 in the financial services sector. Supply and demand factors will result in some positions seeing a bigger increase than others, however, it is anticipated that all positions within the accountancy field will see growth over the year ahead. Industry & Commerce With the economy continuing to grow at a relatively fast pace, this has resulted in more job creation across most sectors. As has been the case for the past few decades, it is the multinational companies creating the most job opportunities for accountancy professionals. However, we have also started to see a return to growth within the SME sector, a sector which until now had not made much of a recovery from the recession. The past year saw many new companies open offices in Ireland, particularly in Dublin. Technology and pharmaceutical companies have continued to be the prominent players in regards to job creation, however, we have also seen some successful indigenous companies add significantly to their workforce. As with the other industries that employ accountancy professionals, job creation can create a domino effect which leads to even more opportunity across the market as people leave established jobs to start a newly created one. What has coincided with job creation over the past few years has been an increased level of jobseeker confidence within the industry sectors. The fear associated with moving jobs has subsided notably. There will continue to be concerns over the long-term effects of BREXIT on some industries and the wider Irish economy, however, this uncertainty is not curtailing growth and affecting the job market at this moment in time. Salaries With more opportunities for recently qualified accountants, the competition to hire at this level has increased significantly. Whilst this level has seen the biggest increase in salaries, there have been increases across the board for accountancy professionals at nearly all levels within the industry sectors. We anticipate these factors will continue to push accountancy salaries northwards in 2018. Looking for an accountancy and finance job? Check out our latest jobs here

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