Ireland | Commerce & Industry 2018 Market Insights

Matthew Fitzpatrick our consultant managing the role

View commerce & industry market salaries in Ireland.

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COMMERCE & INDUSTRY

 Job title  Salary range
 Newly Qualified Accountant  €48,000 - €60,000
 Financial Accountant/Management Accountant  €58,000 - €70,000
 Financial Analyst  €50,000 - €70,000
 Senior Accountant  €65,000+
 Senior Financial Analyst  €65,000+
 Internal Audit (across all levels)  €55,000 - €100,000
 Finance Manager  €68,000 - €80,000
 Finance Controller  €75,000 - €100,000
 Finance Director  €100,000 - €140,000
 Chief Financial Officer  €130,000+

 

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20/08/18
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What’s in store for Ireland’s hiring market in 2021?
What’s in store for Ireland’s hiring market in 2021?

Teaser

Finance & Accounting

Content Type

General

20/01/21

Summary

I think we can all agree on a less than fond farewell to 2020, and a warm, but cautionary welcome to 2021! While I’m not one to dwell on the past, I think it can be useful to reflect on the hiring trends of last year in order to understand and anticipate some factors that may impact the market this year. As we know, when the pandemic hit last year, everything went on pause - pretty much all hiring processes went on hold as we all tried to understand the economic impact - cue no hiring! As time went on and restrictions eased, this abated slightly, however it was only in Q4 2020 when employment opportunities began to return across finance, technology, project management and consultancy. A trend we are noticing now is that expectation levels on job fit have jumped considerably, clients are being more particular than usual. The consensus from clients is that unemployment is high, which is the case for some industries and demographic groups,  however, that has not translated drastically into the realm of professional job opportunities, where it’s business as usual to a large extent. January 2021 sees us still in a “full employment” market across the professional services landscape." I am pleased to report that our business has enjoyed a very strong start to the year with plenty of jobs and activity. Throughout Q1, we would expect to see investment return, projects to gear up once again, and digital transformation will restart, or start at pace.  Coupled with the above, pent up demand will likely see a sizeable increase in hiring levels from March/April onwards as the vaccine roll-out begins to take hold. An influx of professionals We are likely to see an influx of professionals returning to Irish shores throughout H1 this year. From speaking to candidates who are based abroad at the moment, the pandemic has given impetus to return home, perhaps a little faster than they originally planned. We are expecting to see a similar trend with candidates returning from the UK, driven by Brexit finally coming to fruition. EU regulators want certain business conducted in the EU, meaning Ireland’s financial services industry could have much to gain.  In summary, there will be a demonstrable increase in opportunities in the Irish professional jobs market which we believe will coincide with strong talent returning to the country from overseas, where they will have gained invaluable experience. These factors point to a busy period of business and economic growth as we begin to get back on track in 2021 and beyond. Professionals will have plenty of opportunity, and firms will need to be agile in their hiring practices to secure the talent that is required to deliver on ambitious plans.

Teaser

Throughout Q1, we would expect to see investment return, projects will gear up once again, and digital transformation will restart

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Matthew Fitzpatrick

by

Matthew Fitzpatrick

Matthew Fitzpatrick

by

Matthew Fitzpatrick

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

Teaser

Financial Services

Content Type

General

07/01/21

Summary

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.

Teaser

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.

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Rebekah Froom

by

Rebekah Froom

Rebekah Froom

by

Rebekah Froom

Ireland - an attractive option for professionals in a post pandemic and post Brexit world
Ireland - an attractive option for professionals in a post pandemic and post Brexit world

Teaser

Finance & Accounting

Content Type

General

16/11/20

Summary

According to the Economic Survey of Ireland, released by the OECD (Organisation for Economic Co-operation and Development) in Feb 2020:  The country is well positioned to take advantage of the opportunities presented by technological change, though there are various challenges that need to be carefully navigated. ” This outlook is positive, and my initial thought is we will certainly put the above to the test!While I appreciate that large swathes of the domestic market have been extremely challenged, I have been pleasantly surprised and impressed by how well the professional labour market has adapted to the changing workforce landscape in Ireland. Embracing working from home, increased productivity and looking for genuine growth opportunities are all the hallmarks of a functioning and performing economy.Since September 2020, there has been very encouraging signs across certain sectors here in Ireland, namely Tech, ICT, pharma and consulting, as well as the bellwethers of this pandemic – FMCG, logistics and online retail.  Our job opportunity statistics are indicating that there is pent up demand in terms of hiring strong finance, consulting and technology professionals, with companies keen to “get a move on”.There is however, a continued lack of available professionals, which is unusual in a recession or as David McWilliams of The Irish Times has coined it - “pandession”. With the above in mind, there is ample opportunity for those with specific skill sets across finance, consulting and technology in the Irish market, where there is the reluctance to move roles in the current economic climate, and understandably so.As the advent of Brexit draws ever closer, those across the British isles may find exactly what they are seeking in Ireland as the Irish Protocol predicts a rebounding economy in 2021/2022. Relocating or returning to Ireland is already proving an attractive option for international and UK professionals living in a post pandemic and post Brexit Britain!For further updates on the Irish market feel free to get in touch with myself, or visit the Marks Sattin Ireland homepage to browse opportunities in Ireland.

Teaser

While I appreciate that large swathes of the domestic market have been extremely challenged, I have been pleasantly surprised and impressed by how well the professional labour market has adapted to the changing workforce landscape in Ireland.

Read full article
Matthew Fitzpatrick

by

Matthew Fitzpatrick

Matthew Fitzpatrick

by

Matthew Fitzpatrick

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