According to the Hays 2018-19 Salary Guide, demand for experienced candidates remains as high as ever across all accounting levels, noting that this is placing pressure on salaries, particularly for first and second movers who are in highest demand and often receive large increases when changing firms.
Speaking to Accountants Daily, Hays accountancy and finance regional director David Cawley said there is also a rising demand of ‘business partners’ within the accounting profession.
He defines ‘business partners’ as finance leaders, managers, controllers and CFOs who are going to help in business transformation and change projects, in order to take advantage of good economic situations and help businesses either transform or grow.
“The financial accounting space and management accounting space is where we're probably seeing the biggest demand for what we call business partners,” Mr Cawley said.
“That's really accountants who understand that they add value to the bottom line of a business and as a part of the business that they operate in. They are more becoming solution providers rather than doing the core historical accounting requirements.”
Mr Cawley said accounting and finance professionals will see increased demand for their skills in 2018-19
“[This is] in response to the continued strength of the labour market and the ever-increasing volume of data that organisations now employ,” Mr Cawley said.
“At the accounting support level, payrollers at all levels remain in high demand, with acute candidate shortages creating high competition and generous salary offers for those with specific system or sector experience.”
The salary guide found that two-thirds of employers will give their accounting staff a pay rise of less than 3 per cent in their next review, while 11 per cent will not increase salaries at all.
A further 18 per cent will give staff an increase of between 3 and 6 per cent. Six per cent will increase salaries by 6 per cent or more.
The salary guide is based on a survey of more than 3,000 organisations representing more than 2.3 million employees.