| Accountancy recruitment still buoyant |
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| Written by Adrie van der Luijt | |
| Thursday, 14 February 2008 | |
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The number of senior accountancy jobs would seem to suggest that investment banking recruitment should remain relatively healthy - for accountants at least.
Over the last few months several senior vice president jobs have come to the marketplace. Senior VP jobs, which are also known as director or executive director roles, depending on the investment bank, are traditionally a rarity. For every 50 vice president vacancies on the external market there is usually only one senior VP job. Market confidence Simeon Hall, senior consultant on the Joslin Rowe accountancy recruitment desk, said there was no doubt that the market for accountants was still very strong. He is currently recruiting for a senior vice president job within equities decision support, one step below managing director level. Hall explained that the role was very attractive for a couple of reasons. The first is the actual role itself which would give the successful applicant a real career move away from product control that is still relatively rare. The second is that it demonstrates market confidence. Hall said that senior roles were often the first to suffer from headcount issues in a bad market but this was not proving to be the case in the accountancy world. Candidate shortages According to the recent Joslin Rowe salary survey senior accountants working in product control jobs within investment banks have seen their salary rise by 15-20 per cent. This is a premium on other senior finance jobs which have commanded in the region of 10 per cent. A senior VP could typically command up to £120,000 with up to 100 per cent of their salary again in a bonus. Much of this salary growth has been driven by candidate shortages. Currently there are just 7 applications for every 10 accountancy positions and this shows no sign of abating. Salaries are also maintaining their buoyancy and have not dipped in the wake of the sub-prime crisis. Hall said he believes that, although much has been said about market conditions, in the accountancy world it would take a huge shift before we faced an employer or vacancy driven market. “For the last three or four years there have been way more accountancy jobs than accountants and I can't see this changing," he concluded. Related links |
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