Accounting Industry & Commerce Market Update Q2 2015

admin / July 6, 2015

Accounting Industry & Commerce Market Update Q2 2015

Slow and steady does not win the race

In Q2 2015, the general trend within the Industry and Commerce market has seen employers asking themselves; ‘How fast do I need to move to secure my preferred candidate?’. They see their interview short-list being diminished by the day if they are taking longer than their competitors to arrange interviews or indeed, make offers. Businesses are moving away from the ‘tick every box’ candidate and that is certainly advisable in the current business environment.

Market Trends

Up to the end of 2014 the market was continuing to pick up and there was a sense that 2015 would be busier again, specifically within the multinational and PLC arena – this has very much been the case. The great news for the Irish domestic market is the upturn in Q2 within the SME market, primarily within the 0-4 year’ PQE realm. Salaries remain lower than their multinational counterparts but for the SME Accountants, it has been more about the opportunity to change businesses and try new ventures.

Across the multinational Finance market, counter offers to candidates from existing employers are the norm and have been for some time. A noticeable trend this quarter has been that candidates are not interested in counter offers from their existing employer. They are more interested in the choosing between the multiple offers received externally on the market.

Businesses have reviewed their hiring processes in order to move as efficiently as possible through a recruitment process, in order to not lose out on talent in the market place. What we have clearly seen is that ‘slow and steady does not win the race’ when it comes to a recruitment processes.

In Demand Positions

  • ‘Big 4’ trained with 12 to 36 months multinational industry experience remain the most competitive market for employers.
  • Project Systems accounting roles are becoming much more difficult to fill with more businesses looking to upgrade their existing systems or processes.
  • The temporary and contract market has been very busy, with many businesses looking to bring in temporary support to fill operational and day to day accounting tasks, allowing tenured staff to focus on more strategic initiatives.
  • The finance support market, such as accounts payable, accounts receivable and payroll, have seen certain peaks and troughs throughout the year. Where there is some consistency this has been in the form of language requirements most notably in the Shared Services Centres sector.

Salaries

  • Newly qualified accountants – ‘Big 4’ – minimum 50,000
  • Newly qualified accountants – SME – minimum 40,000
  • Salaries remain similar but with one noticeable difference – the employer that can be that bit more flexible, are doing so in order to prevent any bidding wars.

If you wish to have a confidential discussion on the current opportunities available on the market, please feel free to contact me on 01 661 0444 or alternatively you can email me on dosullivan@lincoln.ie. For an overview of current salaries commanded download and view our Irish Salary Survey 2015.

 

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