Uk   Practice F&A Q1

Practice Finance and Accounting Market Insights Q1 2018

Published on 31st January 2018

Accountancy firms have had a busy start to 2018 with a steady requirement for part-qualified and fully-qualified accountants and auditors at all levels, from semi-senior through to senior manager. Whilst 2018 remains a relatively candidate limited market, we are starting to notice flexibility in our clients from within the top 10 accountancy firms as they become more willing to consider candidates from firms outside of the top 10.

A large focus has been placed on moving the traditionally paper-based profession to a paperless one. Accountancy firms are investing heavily in online data management systems as well as working with cloud accounting systems to provide clients with convenient access to their financial statements, especially for those that are constantly travelling .  This has been noted in both the large accountancy firms as well as those outside of the top 50, who understand the importance of keeping abreast with changing environments in order to remain competitive in the market.

Accountancy firms are starting to place emphasis on hiring candidates with multiple language skills.  We understand this demand has been driven by the growing international footprint of accountancy firms as their clients expand their global presence and grow their operations overseas.
 

Skills in Demand 

Within accountancy firms, both part-qualified and fully-qualified accountants with bookkeeping and management accounting experience in the outsourcing space teams are in high demand. This demand is apparent for candidates based in both London and even more so for locations outside of London.

Candidates with experience in using cloud-based accounting systems to service their own clients’ bookkeeping and management accounting needs are also highly sought after.

Experienced auditors with a good understanding of audit methodologies and IFRS reporting standards are in consistent demand. 
 

Predictions for the Coming Quarter

Based on the activity we are experiencing, we are expecting Q1 to be a busy one for both our candidates and clients. As we near towards the end of Q1, we expect to see accountancy firms release more technical and specialist roles given budgets will be fully in place and requirements from their own clients become more apparent.
 

Advice for Employers

Ensure you communicate with your trusted recruiters what your needs are in advance so they are aware of candidates that could be of interest to you, if and when they come across these candidates.  Particularly those candidates that are not readily available and/or possess certain unique skillsets.

When creating job descriptions, be mindful of the essential skills that you are seeking from a potential candidate versus “good-to-haves”. This will ensure a better short-list of candidates which are likely to be more aligned with your expectations. 

Always remember job seekers are choosing you as much as you’re choosing them. The ability to “sell” the role and company at an early stage will help candidates make more informed decisions along the process. 
 

Advice for Jobseekers

Ensure that you clearly highlight key skills you have developed throughout your career, particularly niche skillsets, or even special projects you have been involved in that will make you stand out from other candidates.

Make sure you assess your push factors when deciding whether to leave your current role into a new position. If there are no good, valid reasons for you to leave your current role, then it most likely means you are not ready to do so.

Practice Finance and Accounting Salaries Q1 2018

Job Title Big 4 (£)        Top 20 (£)      Mid Tier (£)     
External Audit and IT Audit in Practice - Permanent      
Partner 100K+ 80K+ 80K+
Director 100K+ 80K+ 80K+
Senior Manager 70K - 80K 65K - 75K 65K - 75K
Manager 60K - 65K 60K - 65K 58K - 62K
Assistant Manager 48K - 52K 48K - 52K 46K - 50K
Senior 45K - 48K 42K - 46K 42K - 45K
Semi Senior 30K - 35K 30K - 35K 27K - 33K
Accounting Outsourcing Teams within Practice - Permanent      
Partner 100K+ 80K+ 80K+
Director 90K+ 80K+ 80K+
Senior Manage 70K - 80K 65K - 75K 65K - 75K
Manager 50K - 65K 50K - 60K 48K - 60K
Management Accountant (Qualified) 35K - 45K 35K - 45K 33K - 45K
Junior Bookkeeper / Assistant Accountant 20K - 30K 20K - 30K 18K - 28K

 

   

Notes on salary table:

1. The salary ranges given are only approximate guides. For tailored salary advice, please contact us directly.
2. Roles outside of London are likely to be £5K - £10K lower than the salaries indicated above.
3. 12-month base salaries are assumed.
4. All other benefits and bonuses are in addition to these figures.
5. Bonus ranges can vary significantly from company to company and will be influenced by market conditions, business and individual performances.