After months of reported doom and gloom it looks as though things are looking up for anyone working in the finance and accountancy industries.
A recent GAAPweb survey found that 70% of our candidates expect to change jobs this year despite the economic downturn and findings from a Joslin Rowe survey suggest they will be ‘rewarded for their bravery.’ Their research has shown that wages for candidates who are prepared to move within the city financial sector have risen by almost five per cent in the last month.
Despite economic difficulties the skills shortage in the finance and accountancy sector remains a huge problem that looks unlikely to resolve itself anytime soon. This is continuing to work to the benefit of highly skilled workers who are confident enough to make the move.
And those who are feeling less brave will be pleased to learn that making an advantageous move isn’t just about luck. Instead candidates need to focus on moving into sectors that are actually thriving at the moment. Phillip Marks, Managing Director of Huntress Finance told GAAPweb:
‘The crunch has affected the focus of the recruitment market, not the volume of business so far. First tier Investment Banks are recruiting less in their largest recruitment areas (operations and front office) but there has been an increase in mid tier banks upgrading staff, private banking and advisory work.’
Other emerging roles, he suggested, have been in ‘business recovery, liquidation and insolvency.’
As the effects of the economic downturn continue to unfold these will be the areas you’ll want to guide candidates to. And in an ever changing market it’s always worth keeping an eye on the next growth industries and passing this knowledge on to potential recruits.
