What does the future hold for accounting and finance jobs?
What is the future of accounting and finance?
Accountancy has always been seen as a solid career choice and for good reason. It requires impressive analytical skills, initiative, a strong work ethic and the ability to deal with complex people and complex issues.
For this, you can expect a handsome salary and plenty of scope for career progression. As industries continue to adapt to rapidly evolving technological landscapes and shifting economic paradigms, the future of accounting and finance stands at an unprecedented crossroads.
Learn more about the trends, challenges, and exciting opportunities for careers in accounting and finance.
The accounting and finance marketplace
With the finance and accounting industry producing £278bn of economic output in 2023, 12% of the entire UK’s economic output, and £100bn in tax revenue, it is safe to say that the financial services sector is the engine room driving UK growth. This makes it one of the best places for accounting and finance professionals.
Salaries in the UK finance and business services sector also grew by approximately 9.1 per cent, compared with 7.3 per cent in the manufacturing sector, and 4.5 per cent in the construction industry in 2023.
As far as the health of the market is concerned, there is plenty to feel positive about and while nobody can predict the future, London's boom and the wider recovery seen in the rest of the country means that the picture looks bright for the foreseeable future.
How is technology changing the future of accounting?
Accounting has come a long way since the days of manual bookkeeping.
The introduction of artificial intelligence (AI) in accounting and finance comes with many applications such as streamlining repetitive tasks like data entry and reconciliations (process automation), providing advanced insights from financial data, or aiding in decision-making and enabling accountants to offer more strategic guidance to businesses.
The future of accounting is undeniably intertwined with technological advancements, empowering professionals to be more efficient, insightful, and strategic in their roles.
Another piece of accounting technology is cloud-based accounting which allows financial data to be stored, managed, and processed remotely on secure servers accessible via the Internet. The advantages include increased security, scalability, and innovative capabilities that empower businesses to thrive in an increasingly digital world.
Securing an accounting and finance job
For those who have obtained the necessary qualifications, the next step is to search for and secure one of the accounting jobs out there. Like all sectors where there are lucrative returns to be enjoyed, competition for accountancy and finance jobs is fierce.
There are some steps that people can take to make their CV stand out from the others; using action words to describe previous experiences rather than just stating that they have experience at firm X, Y or Z is one example. We’ve put together a list of five strategies that can help to maximise your job search.
How specialist financial recruitment firms can help your job search
Specialist financial recruitment firms, like Marks Sattin, know what accountancy firms want in accounting professionals.
We can support you in your job search and can make life a lot easier. Through tailored support and guidance, we can leverage our extensive industry expertise and robust network and connect you with rewarding opportunities across various sectors, from corporate finance to public accounting.
Explore our accounting and finance jobs today.
