Financial Services | Part Qualified and Transactional 2018 Market Insights in London

Rebekah Froom our consultant managing the role

View part qualified & transactional market salaries within financial services:

Download the full London Financial Services 2018 Market Insight Report here »

PART QUALIFIED & TRANSACTIONAL

 Job title    Salary range   Day rate 
 Graduate/Entry Level | up to 12 months' experience £25,000 - £30,000 £80 - £120
 Accountants Assistant | more than 12 months' experience £28,000 - £32,000 £100 - £130
 Accounts Payable/Recievable £40,000 - £45,000 £80 - £200
 Assistant Accountant £30,000 - £35,000 £150 - £180
 Assistant Financial Accountant £33,000 - £40,000  £150 - £200
 Assistant Management Accountant £33,000 - £40,000 £150 - £200
 Finance Analyst £32,000 - £40,000 £150 - £200
 Part Qualified Regulatory Accountant £35,000 - £45,000  £150 - £210
 Part Qualified Fund Accountant £33,000 - £40,000  £150 - £200
 Fund Administrator £25,000 - £35,000  £100 - £150
 Depositary Analyst £25,000 - £35,000  £120 - £180


View salaries in other sectors within London financial services »

 
16/08/18
posts

Related articles

Soft-skills series: fitting into the company culture
Soft-skills series: fitting into the company culture

** DEFAULT postresults.teaserlabel - en-GB **

Financial Services

** DEFAULT postresults.contenttypelabel - en-GB **

Career Advice

03/05/16

** DEFAULT postresults.summarylabel - en-GB **

British Formula One ace Lewis Hamilton is no stranger to the headlines, and his attire is often subject to media scrutiny. A recent race day trip to the Sahir Circuit in Bahrain cast Lewis’s clothing into the limelight for a different reason due to his decision to don local dress. The driver’s social media activity seems to suggest that his efforts were a way of trying to fit into Bahrain’s local culture – which he had high praise for.   Fitting into a culture is not just important for those visiting or conducting business in a foreign country. Just like different countries, different workplaces and organisations possess their own distinctive working cultures, and fitting into them is an important part of building strong working relationships and becoming a motivated and committed employee. Accountancy firms have distinctly different working cultures, as do in-house finance teams in big businesses, and accountants need to integrate when moving between jobs, while bringing their own flair to the role.  Hiring managers and HR teams have a strong appreciation for candidates who make the effort to adapt to a new working culture quickly. While new working environments can be daunting at first, meeting lots of people and showing a willingness to work in fresh ways will almost certainly pay dividends. It’s also good to work out what the ‘norm’ is; some accountancy firms expect employees to get involved in extracurricular activities for the business, for example, and not doing so is perceived as under-performance.  On the other hand, when trying to adapt to a culture, candidates should ensure they don’t go too overboard and risk making a Prince Philip-esque blunder..    

** DEFAULT postresults.teaserlabel - en-GB **

The driver’s social media activity seems to suggest that his efforts were a way of trying to fit into Bahrain’s local culture – which he had high praise for.

Read full article
Sunil Basra

by

Sunil Basra

Sunil Basra

by

Sunil Basra

Glimmers of hope for accounting and finance
Glimmers of hope for accounting and finance

** DEFAULT postresults.teaserlabel - en-GB **

Financial Services

** DEFAULT postresults.contenttypelabel - en-GB **

General

11/01/21

** DEFAULT postresults.summarylabel - en-GB **

I don’t think anyone would disagree that 2020 was a tough year. In recruitment we are usually on the sharp end of economic turmoil, so I’m very empathetic to people’s struggles, especially those seeking new employment.   However the good news is that over the last couple of months we have seen some glimmers of hope. Since last September there has been a slow but steady incremental demand for accounting & finance talent in London. This was precipitated by the gradual reopening of offices, and clearing the hiring backlog which was created in the late spring and summer months due to the COVID restrictions and the extreme uncertainty. Candidate needs have changed Whilst firms were constrained and had conservative hiring plans, the risk appetite among candidates for a new role, company, or location change surprised us - this has no doubt been triggered by the enormous lifestyle changes that we’ve all been contending with recently. Many people have decided to escape that city in search of open, more green spaces, and the vast majority of candidates we speak with are expecting a new level of work flexibility to support their personal and family interests.A large dichotomy between company attitudes to hiring!   Some firms are making the hiring process so cumbersome that both parties lose interest half way through the process.  It’s not uncommon to see a candidate going through six or seven rounds of interviews, without receiving an offer at the end of the saga. Whilst other organisations are very quick to bridge the skills gap, recognising that finance departments need enough resources to operate effectively. The overwhelming message that we are receiving is that accountants are feeling jaded, given they are working harder than ever with less moral support and fewer resources. Now businesses are starting to see cracks appear and recruitment is back on the agenda. " It has largely been an employer’s market lately, where candidates have very realistic expectations and businesses have been able to secure strong candidates quickly. We are also seeing a fresh demand for niche skillsets, such as: Regulatory Reporting,  IFRS 17, and Technical Accounting, which has led to competing offers and a shortage of candidates with the right skills. The projects that were put on the long finger are now back in focus.In contrast to the 2008 crisis, we haven't seen many redundancies within financial services firms. Nevertheless, businesses are reassessing what skillsets they require from senior finance leaders in this uncertain environment. Unfortunately we have seen some cost cutting at the very senior end of the market with opportunistic or knee-jerk removal of CFOs and Directors who may have been seen as an expensive luxury in a stale economy, however these people will be an absolute necessity to have in place when businesses return to growth mode. We’re expecting risk appetite to accelerate Going into spring 2021 we fully expect that positive news on a vaccine will spur a newfound confidence, and risk appetite will accelerate the need for additional resources and new expertise, leading to a war on talent. Our advice would be to really look after those star employees who you want to keep as they will be approached by other companies! If you are thinking about growing your team or department, it may be worth getting ahead of the game and kicking that process into action before you lose out, or have to pay salaries over the odds.If you are considering recruitment options, or want to discuss your own personal circumstances, then please feel free to call me for a chat on 079 6337 0126, or drop me an email.

** DEFAULT postresults.teaserlabel - en-GB **

In recruitment we are usually on the sharp end of economic turmoil, so I’m very empathetic to people’s struggles, especially those seeking new employment.

Read full article
Paul Roche

by

Paul Roche

Paul Roche

by

Paul Roche

How part qualified accountants will add value to your business
How part qualified accountants will add value to your business

** DEFAULT postresults.teaserlabel - en-GB **

Financial Services

** DEFAULT postresults.contenttypelabel - en-GB **

General

07/01/21

** DEFAULT postresults.summarylabel - en-GB **

Having spent two years at a Big Four firm and three years working in the part qualified market for Marks Sattin, I have a vast amount of market knowledge and have worked with a variety of clients within financial services. The part qualified market forms a big part of our business, however some of our clients have never recruited a PQ candidate before or are unsure of what this candidate pool looks like. So, we thought we would answer some typical questions/opinions regarding PQ recruitment below. ‘We are a small team and cannot afford to lose a member of our team to study for weeks at college’This is a common misconception from clients who have no experience in study support for junior accountants. If you are a practice-trained ACA your personal experience will be very different to accountants who have qualified in industry. It’s important to note that typically candidates don’t get sent to college for vast amounts of time, and there is always the opportunity to offer candidates online courses or evening/weekend courses taken outside of core working hours. A typical study support package towards ACCA/CIMA would look like this:-           Exam and membership fees -           Study materials-           An additional one or two day’s leave for revision plus the exam day, per exam ‘We don’t want to invest in someone and then they leave our company’ Investment in candidates is always rewarded with harder work and longevity which are key attributes clients look for when hiring!  The ultimate goal for aspiring accountants is to become qualified and have steady career progression, and without investment by their current business, they may be more likely to seek investment from a competitor who will provide study support. " When offering a study support package most clients can protect themselves with a clawback clause, meaning if an employee leaves during their studies or a short period after qualifying, they will have to pay back a percentage of  the fees incurred by the employer. ‘Why would good candidates be on the market for a new role before they’ve qualified?’ This ties in well with the above point, whilst study support is very important to candidates, equally to that is career progression and continued professional development. I am sure if you are reading this then you will be able to relate, especially when thinking about your own decisions and choices that you have made to get to where you are today!  Coming from a big 4 background myself, I know how uncommon it is to leave an ACA training programme before you are qualified - you could even say it is frowned upon. There is a completely different culture to accountants who train and ones who qualify in industry. Just because they are on the market as a part qualified accountant does not mean they are underperformers. In fact it just means they actually are committed to bettering themselves! ‘We are looking for a smart and ambitious graduate but we don’t provide study support’ In short you’re saying you want the best of the best without giving them anything in return. Smart and high achieving graduates will be sought after by many businesses. From my experience, these types of candidates can usually end up with more than one job offer on the table. For example one of my candidates recently graduated from a top university (University College London), and within a week had three offers on the table! In this scenario, more often than not, money is not a key motivator. By contrast these candidates will favour career progression opportunities, study support as well as the culture of the business. You need to make yourself competitive to win over ambitious candidates, unfortunately a good salary isn't enough. ‘We would prefer a newly qualified accountant’ Depending on the type of role a good question to ask is: Why do they need to be qualified to do this role? Part qualified candidates ultimately show value for money. A part qualified accountant with 2-3 years experience, will know how to do the job itself. For example, processing invoices, journal entries, bank recs, preparing management/financial accounts. Their salary expectations range from £33k to £44k. You can then compare this to a newly qualified accountant coming from an audit background that may never have performed a hands-on accounting role, only external audit. Their salary expectations are usually around £55k if they’re big 4 or around £50k outside the Big 4. Alongside the savings you could make, PQ accountants tend to be more willing to take on some of the transactional tasks which qualified accountants want to move away from, recently qualified ACA candidates typically do not like financial reporting roles, instead they’re looking for more ‘commercial’ roles. This is proving to be  a massive challenge in recruitment. You can achieve greater longevity from a part qualified accountant as they work towards becoming qualified, especially with the help of clawback clause. ‘We prefer to hire directly for junior roles’ With everyone looking to cut costs now more than ever, it also means there are an abundance of candidates and more people applying for jobs. One of my adverts received over 2,000 applications! This may seem like the ideal situation with plenty of options to choose from but the reality is that the majority of applications are candidates who are not suitable for the role. A lot of job seekers have the ‘throw everything against the wall and see what sticks’ kind of approach. And the reality of finding the right CV becomes ever more daunting. By using a recruiter who specialises in this industry, and who spends their days building relationships with these candidates, you can cut this down to receiving a few top quality profiles tailored to your business. Not only will this save you time, but you will also receive an extra level to the interview process. Speeding up the entire hiring process (especially if you are looking to replace a team member who is leaving, this notice period window can be crucial). As everyone in business likes to say; time equals money! Long hiring processes can mean losing candidates to other offers, or losing their interest if you make them wait too long - it doesn't reflect well on the business. At that point you may find yourself starting the whole search process again, not ideal or cost effective. If you would like to discuss a part qualified role, or if you're looking to expand your team please get in touch with me here.

** DEFAULT postresults.teaserlabel - en-GB **

The part qualified market is huge and forms a big part of our business, however some of our clients have never recruited a PQ candidate before or are unsure of what this candidate pool looks like.

Read full article
Rebekah Froom

by

Rebekah Froom

Rebekah Froom

by

Rebekah Froom

jobs

Related jobs

Assistant Accountant

Salary:

£28,000 - £32,000 per annum + study support

Location:

City of London, London

Market

Financial Services

Job Discipline

Part Qualified & Transactional Finance

Industry

Investment Management

Salary

£30,000 - £35,000

Qualification

Part qualified

Contract Type:

Permanent

** DEFAULT listwidget.vacancypartial.description - en-GB **

A global asset management company are looking for an Assistant Accountant to join their London office.

** DEFAULT listwidget.vacancypartial.reference - en-GB **

RF1001

** DEFAULT listwidget.vacancypartial.expirydate - en-GB **

04/02/21

Rebekah Froom

** DEFAULT listwidget.vacancypartial.author - en-GB **

Rebekah Froom
Rebekah Froom

** DEFAULT listwidget.vacancypartial.author - en-GB **

Rebekah Froom
Find out more
Accounts Receivable Clerk - 6 month FTC

Salary:

£30,000 - £35,000 per annum

Location:

City of London, London

Market

Financial Services

Job Discipline

Part Qualified & Transactional Finance

Industry

Investment Banking & Capital Markets

Salary

£35,000 - £40,000

Qualification

Part qualified

Contract Type:

Contract

** DEFAULT listwidget.vacancypartial.description - en-GB **

Our client, an independent financial advisory group is recruiting an Accounts Receivable Clerk on a fixed term basis for an initial 6 month term.

** DEFAULT listwidget.vacancypartial.reference - en-GB **

ZKAr23

** DEFAULT listwidget.vacancypartial.expirydate - en-GB **

29/01/21

Zara Koch

** DEFAULT listwidget.vacancypartial.author - en-GB **

Zara Koch
Zara Koch

** DEFAULT listwidget.vacancypartial.author - en-GB **

Zara Koch
Find out more
View all jobs