Market update June 2024: Accounting & Finance (Financial Services)

In case you missed the T+O+M Talk video, here's a summary from Noreen Byrnes on recruitment activity for Financial Services Accounting & Finance in June 2024.


Market Overview & Recruitment Trends

  • Increase in Finance Opportunities: 15-20% rise in vacancies from 2023.
  • Restructuring Focus: Internal restructuring and M&A create fixed-term roles, conflicting with job security preferences.
  • Sector-Specific Hiring: Active hiring in wealth management and mutuals.
  • Talent Movement: Loss of talent to less demanding industries with broader roles.
  • Cost Pressure Impact: Internal promotions led to staffing at the 120-200k level, making internal hiring challenging.
  • High Competition for Top Talent: Intense competition for top-end staff; multiple offers common. Candidates prioritize compensation and flexibility.
  • Gender Balance: Financial services gender split at 41% female, 59% male.


Recruitment Predictions

  • Continued demand for specialised skills.
  • Finance transformation projects to drive project finance skill demand.
  • Salaries to stay stable, with a minimum 10% premium needed to attract top talent.


Advice for Candidates

  • Job Search Expectations: Be clear on expectations; job search could take up to six months at mid to senior levels.
  • Networking: Build your network and attend industry events. Work with experienced recruiters and be patient.
  • Openness: Consider both internal and external roles for new opportunities.


Advice for Clients

  • Candidate Expectations: Reward strong performers with promotions and growth opportunities to reduce external moves.
  • Culture and Values: Prioritize a strong business culture, aligned values, leadership, learning opportunities, and clear company strategy.
  • Interview Engagement: Keep candidates engaged with regular communication and a smooth interview process.
  • Recognise and Reward: Enhance retention by recognizing and rewarding strong performers.
  • Flexibility: Be flexible to candidates' main motivators.


If you would like to find out more, get in touch with one of the Accounting and Finance team

You can watch the full video here:

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