Accounting Practice Market Update Q2 2015
Practice in demand
One of the primary impacts of the downturn in the Irish economy for accounting firms, was the downsizing of the number of graduate intake on a yearly basis. As we continue on the path to recovery in 2015, the effects of this are still being felt across all divisions. Professional Services candidates are in high demand from Senior to Manager Grades. We are also seeing a further growth spurt in comparison to Q1 in terms of market movers and candidates registering with us looking to explore their opportunities.
The demand for consulting professionals continues to be very high with a particularly strong demand in Management Consulting, Finance Transformation, Risk Consulting, Regulatory Affairs and Financial Effectiveness. Candidates from a variety of backgrounds including industry have moved seamlessly into these roles.
This has been one of the most challenging years for firms looking to hire qualified tax professionals, with particularly high demands within Big 4 / Top 10 firms for individuals across all tax heads. The key areas of growth are Transfer Pricing, Corporate, Personal and VAT. Tax positions within Industry have been less abundant but significantly up on previous years, and the level of interest in these roles has been high from people looking to make their first move from practice to industry.
There has been substantial demand for candidates with strong audit experience this year. The traditional move from smaller firms to Top 20 / Big 4 continues to be a popular route for recently qualified accountants looking to gain more exposure to larger audit engagements and IFRS / US GAAP / multinational clients, with a view to potentially moving to industry at a future point in their careers. Interestingly recently qualified Audit candidates have decided to stay in practice to gain 1 / 2 years PQE experience. With this additional experience candidates have been in a position to obtain Finance Manager / Assistant Financial Controller roles in Industry in addition to receiving 10% / 15% higher salaries than if they left as an Audit Senior.
Companies merging have created a significant area for growth with us here in Lincoln Recruitment. Practices who have gained confidence in the market have taken steps to expand their companies through a variety of different methods, the most popular being Merging with another firm. We have taken these processes from cradle to grave in 2015 and the demand has been high. We have created a definitive structure around Mergers to ensure a smooth hassle free journey through the process.
If you wish to discuss the market in more depth or would like to find out about some of the active roles that we are working on, please feel free to contact me on 01 661 0444 or alternatively you can mail me on firstname.lastname@example.org. For an overview of current salaries commanded currently download and view our Irish Salary Survey 2015.