Demand for finance professionals showing no sign of slowing down...

James Gallagher 18.10.2018

As Q3 comes to a close, our specialist recruitment teams have provided insight into the jobs market within Accounting & Finance.

In this Q3 Review, we will be looking at; an overview of the Accounting & Finance market in general, the most frequent roles placed across the country, highest paying roles our specialists have placed and some workplace insights surrounding flexibility, workplace wellness and workplace benefits. 

Demand for finance professionals is showing no signs of slowing down over the past quarter. There is consistent demand for newly qualified accountants across the board and for those professionals with 3-5 years post qualification experience across a variety of sectors including FMCG, Technology, Pharmaceuticals, Business Services, Energy, Medical Devices and Construction. We have seen confidence rising in the SME market with a 25% increase in new jobs within SME businesses during Q3. 60% of finance jobs in during this quarter were new hires as a result of expansion and growth and not due to attrition. 

However, the supply of qualified professionals for available roles remains a challenge as companies are competing for top talent across all levels from senior finance professionals down to transactional level.  Companies need to move fast with the hiring process to ensure they secure the relevant talent. They also need to assume that all potential candidates are meeting with/ interviewing with at least 3-4 other potential employers as well as themselves, as the pace of the market shows no signs of slowing down.

Most Popular Roles By Region:

Dublin

  • Financial Accountants
  • Accounts Payable - there is a lot of additional headcount due to expansion/growth
  • Payroll - a lot of movement in the payroll sector both internally & bureautic

Cork

  • Financial Reporting - due to business growth, expansion and succession planning
  • Finance Managers - due to expansion, new product development and winning new business
  • Tax Managers - Some companies tax functions are now centralised to Ireland.  Brexit is also playing a part. As is succession planning.

Waterford

  • Accounts Assistant - There are significant backfills due to internal promotions.
  • Management Accountants - This is due largely to department restructures and movement internally.
  • Accounts Payable - Significant backfills here also.

Limerick

  • Recently Qualified accountants- There is growth in this area as companies start to expand their teams.
  • Accounts Payable and Receivable - There is an increase in these roles due to additional headcount in companies  and a general increase in business activity. 
  • Cost accountants - Due to increased manufacturing activity which results in an increase in costing/variance analysis and budgeting work within these companies. 

 

Highest Paying Roles - Our Teams Have Placed

Dublin

  • Finance Director in FMCG at €120,000
  • European Financial Controller in FMCG at €120,000
  • Senior Commercial Finance Manager  in FMCG at €110,000

Cork

  • Tax Manager in Pharmaceutical at €130,000
  • Financial Controller in Manufacturing at €100,000
  • Senior Finance Manager in Energy at €80,000

Waterford

  • Tax Manager in FMCG at €110,000
  • Senior Management Accountant in Construction at €85,000
  • Management Accountant in Pharma at €60,000

Limerick

  • Financial Controller in Manufacturing at €90,000
  • Senior accountant in FS at €80,000
  • Senior Financial Accountant in Software Industry at €75,000

Workplace Insights

Flexibility

Certain roles within accounting and finance can be difficult to allow flexibility in due to the demands of certain deadlines, however 1 in every 4 to 5 roles would allow for some degree of flexibility.  In general, global positions do allow for more flexibility as the domestic market is not their responsibility so the time differences involved can favour more flexible working from home arrangements. Some trends which are more commonly emerging include working from home a few days a month, allowing for flexibility in start times in regards to core hours to accommodate working parents with school drop offs/pick ups to attend to. 


Workplace Wellness

Workplace wellness and mental health are serious considerations for the industry, however some employers are finding it somewhat difficult to balance, given the pressure of workloads particularly at month end and payroll deadlines. These deadlines mean that achieving the right balance can be a challenge. This aside, the majority of employers are taking the subject of wellness and mental health very seriously. Some companies are offering flexible working hours and a certain amount of work from home days per month in order to achieve a healthy work life balance. Mental health talks are an increasingly common trend in companies with external speakers coming in for talks on various topics.  Companies in this area feel that  wellness is a very broad topic and covers so many areas hence why they try and incorporate bits of each such as flexibility, the promotion of an active lifestyle and healthy eating as well as the very important topic of mental health.


Benefits

The most frequent benefits on offer for Accountancy and Finance professionals include healthcare, pension, work from home allowances, performance related bonuses, free car parking and more long term incentive bonuses. Some more unique bonuses which also come into play may include sign on bonuses for more senior level payroll professionals as well as completion bonuses for contract roles.

James Gallagher's picture
Associate Director | Accounting, Finance & Legal
jamesgallagher@morganmckinley.ie

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