Published on 1st October 2018
Hiring momentum in Q3 slowed down slightly as we entered the peak of summer, and with many clients and candidates out of town, the hiring process was somewhat delayed. As we neared the end of the summer break, we noticed a significant pick up in hiring needs and hiring processes moving forward.
We continue to see a demand for candidates based outside of London where larger accountancy practices are investing into growing their offices based out and around the M25 including the likes of Reading, Milton Keynes, Guildford, Bristol, Cambridge and Ipswich. These locations lack active local candidates, and hence, we are required to tap into London based candidates who are willing to relocate out to these areas.
In London, we have seen an increase in the demand of technically skilled candidates as the top 10 accountancy practices move into expanding their technical advisory teams whilst building out another revenue stream.
Outsourcing and accounting business services’ teams continue to demand both part-qualified and qualified accountants, particularly candidates with IFRS and consolidation experience.
Skills in demand
Both part-qualified and qualified accountants with management accounting and statutory accounts experience from practice are in high demand. IFRS and consolidation experience is currently a well sought for skill.
Cloud-based accounting experience, such as XERO and SAGE 50, is becoming increasingly important and many clients are making it a mandatory skill to have.
UK trained ACA qualified auditors are in high demand across the board.
Predictions for the coming quarter
Q4 is usually an unpredictable quarter. It could be a very busy end to the year where companies work hard to fill open headcounts and avoid lengthy re-approvals in the following year. It could, however, be a rather quiet end to the year, where companies revisit the need for the hire as they near the end of the year.
With the momentum we are facing at the moment, we suspect October and November to remain in constant demand of experienced candidates with skills mentioned above, with a potential slowdown in December.
Advice for employers
Understand what you can offer in addition to the role which will give you a competitive edge against your direct competitors who are recruiting for the same type of candidates. Examples include career progression, flexible working hours, work/life balance, advanced technology exposure, varied client portfolio exposure etc.
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 better-informed decisions along the process. Also, it is very important to ensure that candidates are provided with an enjoyable interview process experience.
Given we are in a candidate-short market it is important for employers to move quickly on the right candidate after first interviews have taken place as slow interview processes and slow feedback will result in disinterested candidates.
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 Q4 2018
|Job Title||Big 4 (£)||Top 20 (£)||Mid Tier (£)|
|External Audit and IT Audit in Practice - Permanent|
|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|
|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
|Personal and Corporate Tax into Practice - Permanent|
|Partner||100K +||80K +||80K +|
|Director||100K +||80K +||80K +|
|Senior Manager||70K - 80K||60K - 75K||60K - 75K|
|Manager||58K - 65K||52K - 60K||52K - 60K|
|Tax Senior||45K - 58K||43K - 52K||43K - 52K|
|Tax Semi Senior||35K - 45K||35K - 42K||33K - 42K|
|Tax Trainee||28K - 35K||27K - 33K||27K - 33K|
Notes on salary table:
- The salary ranges given are only approximate guides. For tailored salary advice, please contact us directly.
- Roles outside of London are likely to be £5K - £10K lower than the salaries indicated above.
- 12-month base salaries are assumed.
- All other benefits and bonuses are in addition to these figures.
- Bonus ranges can vary significantly from company to company and will be influenced by market conditions, business and individual performances.