Newly-qualified and mid-level accountants will be in high demand in 2016, driving up salaries for these professionals, the 2016 Robert Walters Salary Survey has revealed.
Skills shortages seen in 2015 will continue into 2016 across both financial services and commerce, particularly for talented newly-qualified and mid-level accountants
Salaries for in-demand mid-level professionals will continue to rise across both financial services and commerce firms.
"As employer confidence grew across both commerce and industry and financial services last year, the demand for qualified and part-qualified accountants rose," said Richard Boyd, Associate Director at Robert Walters.
As employer confidence grew across both commerce and industry and financial services last year, the demand for qualified and part-qualified accountants rose.
"Employers are also showing increased flexibility in their recruitment criteria to help them attract the best candidates, as well as focusing on career development opportunities."
Commerce and industry
In commerce and industry, employers are favouring recruitment of permanent staff over short-term contractors. Demand was highest for newly-qualified accountants and for those with up to three years’ experience.
The shift towards a consumer-driven market in the UK is likely to continue, boosting the performance of FMCG, retail, media, publishing, property and construction companies. In turn, these employers will expand their accountancy headcount in business advisory functions.
“Newly-qualified and mid-level accountants will continue to be in short supply for some time to come, across both financial services and commerce, causing employers to work harder to retain good staff,”said Matt Crawford, Associate Dirctor at Robert Walters.
Firms across the full financial services spectrum are keen to recruit professionals with expertise in the following areas:
- cost management
- business planning
Within the investment management market, organisations will be raising salaries to attract qualified accounting candidates.
"Overall, in banking and investment management, demand was highest at the newly-qualified and AVP level, particularly as firms reviewed their long-term strategic goals. As the market remains competitive, buy-backs will become a common strategy to prevent accountancy staff from leaving," Matt Crawford continued.
Find out what you’re worth using the Robert Walters Salary Survey.