News
1 Jun 2016 11:00am

Finance and accounting vacancies continue to rise

Job vacancies in the finance and accounting sector have continued to climb rapidly in the last quarter, new research has found

Despite uncertainty surrounding the upcoming EU referendum, vacancies rose by 10.2% year-on-year in the last three months to March, according to the Association of Professional Staffing Companies (APSCo).

Professional recruitment firms had 1% more vacancies than in the same period last year, the study found.

Temporary and contract vacancies within finance and accounting rose by 29%, driven by an increase in workload in the run up to the financial year-end. This is compared to a nearly flat (1%) growth in the same kind of vacancies across the professional staffing market.

Ann Swain, chief executive of APSCo, said, “Although George Osborne has warned of 'tens of thousands' of potential job losses in the sector if Britain leaves the EU - claiming that 285,000 jobs in the sector are linked to business with Europe – it seems that the current landscape means that hirers in this area cannot afford the luxury of breathing space to reassess talent needs.

“The pace of change surrounding legislation and technology, as well as several high-profile relocations, means that continual hiring of specialist skill-sets is required just to keep the sector’s wheels in motion.”

Meanwhile, a separate survey by reed.co.uk found newly qualified accountants have the highest earning power, with annual average starting salaries at £50,463, 46% more than their average anticipated salary of £34,567.

Lynn Cahillane, communications manager at reed.co.uk, said, “Today’s graduates have a lot to contend with. With hefty student loans to pay paired with rising living costs, it’s little surprise that they’re looking to earn more now than a few years ago.

"The good news is that the future looks bright for the thousands of graduates entering the job market for the first time, with more job opportunities and more attractive pay packages on offer this year.”

Jessica Fino

 

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