Market trends in the accounting & finance industry

Madison Recruitment

17 Jul

4 mins read

Recruitment Industry Accounting Accounting & Finance jobs contracting employment finance market market report

Observing the landscape as we sit more than midway through 2016, it’s very safe to say that the accounting & finance market continues to flourish. There is a big appetite to hire all-round, but the largest demand comes from organisations seeking positions in a mid-tier, $80 to $100k bracket. Madison has seen a 20% increase in roles at this level in the last 12 months. When you take a look at what’s happening on job boards, it echoes our experience, with the majority of advertised Accounting & Finance positions sitting within this band.

There are many interrelated factors contributing to this high demand, here are just a few:

We still see the traditional drop-off when Grads with a couple of years of experience depart our shores for their OE, leaving open roles behind them (whether or not this will change given recent Brexit results is definitely deserving of its own post!).
Generational differences play a part as Gen Y professionals, who have high skill levels and expectations to match, seek to change jobs more frequently than their predecessors.
Generalised growth in other industries has had a knock-on effect, meaning simply more positions are available.

With unemployment rates at their lowest in six years, it’s certainly not plain sailing for those businesses looking to secure future talent. At Madison, our focus in the mid-range is on mapping talent location in the market and building our pipeline. If you are an employer recruiting in this space our recommendation would be to do the same – or take advantage of ours, of course!

If you are a Financial Accountant, Management Accountant, Commercial or Financial Analyst or other industry professional job hunting in the $80 to $100k space, or you are looking for Accounting or Finance work within the construction industry, then you’ll have it easier than most, and chances are you’ll have a number of opportunities available to you. In contrast however, if you are at the more experienced end of the spectrum, looking for a role at $120k plus, you’ll be faced with much more competition, and will have to work that bit harder to secure a new position. The number of opportunities in this space has been increasing but at a much slower pace than the mid-range.

A recent conversation with an experienced CFO seeking contracting opportunities at the high end of the market, gave us some insight into the experiences of senior candidates:

For each role I have applied to, there’s been at least 20 other applicants, all of which have incredible pedigrees and experience. On many occasions I have found myself having to be incredibly competitive in terms of hourly rate. Gone are the days when technical capability went all the way, now it’s just as important to have the right attitude and culture fit for the environment. With all this in mind though, the general feel out there is pretty good. I have had some really meaty projects to get my teeth stuck into in the last 12 months. I really love being able to make a strategic difference in an organisation; and I’ve had some real opportunities to do this. Organisations really didn’t want to pay for this level of effort a few years ago.

If you are a candidate operating in this space, you will need to ensure you are marketing yourself effectively, and of course networking with professionals in your field. In a relatively small market such as Auckland, it’s particularly important to forge strong, enduring relationships with a handful of recruiters that you know and trust, and have relationships with the organisations you are interested in working for. When you interview with a recruiter, remember it is a two-way street and don’t be afraid to quiz the recruiter about their tenure in the industry, who they work with and how they will go about assisting you with your job search.

Whether you are a candidate or an employer, the good news is that the generally positive outlook in the market means we should continue to see growth in all areas. The bad news is the continued pressure that this growth will put on an already shrinking pool of skilled candidates in the mid-range bracket.

Market trends in the accounting & finance industry, in Auckland, and throughout the country, form one section of Madison’s inaugural Employment Market report, now released in digital format. Click here to access Madison’s NZ Employment Market 2016 report, to obtain your exclusive copy and read more.

Madison Recruitment

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How can the inexperienced gain experience?

Madison Recruitment

14 Jul

4 mins read

How can the inexperienced gain experience?

Job Seeker candidates career advice experience resources tips Tips & Advice

How are you meant to gain experience if no one will give you experience?
Our Business Support recruiters often talk to candidates who are in retail or hospitality looking to register for office roles in corporate environments. Candidates often think an office administration role is naturally the next step for one who wants better hours, better income and better career prospects.

The most common challenge for these candidates is often the same – employers want experienced candidates, which as a result make opportunities for the inexperienced few and far between. Employers don’t like taking risks and extra training can add costs to hiring which is avoidable.

So, what experience is it that you are looking for and how realistic is this?
Our advice to candidates in this situation is to start small. You should look for a role where you can use your previous experience to get you into a role closer to what you want; consider this as a stepping stone. For example, if you would like to get into an administration role however do not have the skills, consider a Contact Centre role where you will gain some of those skills. If this means working a rotational roster including the odd Saturday night to gain this experience, it may be what you need to do to get ahead.

Often, candidates think quality references are no big deal – this could not be further from the truth.
If you are looking to gain experience, what better way to impress than a previous employer raving about you? Good references are especially important if your experience is light compared to other candidates. Make sure however, you have permission from your references to supply their name. It is not a good look if the reference you have nominated is not aware you are giving out their details, or even worse, doesn’t remember you worked there!

Get the basics right
If you want to take that step into an office role and have limited experience, here are some tips to consider:

Are there any spelling errors in your CV? There is nothing worse than a candidate telling how high their attention to detail is when their CV has spelling errors. There is endless advice out there on what makes a good CV – take some time to read this.
How are you dressing when you are attending interviews? Are you going into that interview in business attire or casual clothing? Business attire should be the answer – this makes you credible. Would you feel confident and trust the opinion of your GP if they were sitting there in scruffy track pants? Probably not. You can always research the company to ensure what you plan to wear is appropriate.
How are you answering your phone? If you are applying for jobs, the reality is you are hoping someone is going to call you. If you are in the middle of something and are unable to take the call, the best option is to let it go to voicemail and return the call when you are able to. One thing to note here is to ensure your voicemail recording sounds professional or this could certainly hinder your application. After all, having an excellent phone manner is a huge part of most office roles. If you are available and answer the call, make sure you are confident upon answering and always say your name – remember first impressions count!
Is your phone turned off for the duration of your interview? Even a glance at your phone will tell and interviewer they do not have your full attention or commitment to the interview. If you answer a text or call during the interview, you may as well leave straight away. Chances are you won’t get the job.

Make sure your expectation of what you want to do next is not unrealistic in comparison to your experience. Recruitment Consultants are here to help, offer you advice and make sure you are on the right track with your job search, but the way you present yourself is how we will perceive you. Always make sure you are putting forward the very best you.

Madison Recruitment

Could it be time for a change?

Looking for a permanent role, or thinking about temping or contract work?