Finance generalists are scarcer than specialists

Wed 8 Aug 2007

Finance generalists are scarcer than specialists

The good times show no sign of letting-up – and you don't have to be an expert to cash in.
Recent research by recruitment consultancy Robert Half Finance & Accounting indicates that one third of HR and finance managers expect starting salaries to increase. And finding staff with all-round generalist accounting skills has become an even bigger ask than sourcing those with specialist skills such as financial analysis or tax. In financial services, that means more dosh for those who cut it with the banks.

The skill shortage dates back to more uncertain times: "When the market was in downturn after the dotcom implosion and 9/11, far fewer graduate trainees were brought in," says Steve Forro of financial recruitment specialists Indigo City. "Now it's booming, there aren't enough coming through the pipeline."

David Jones, Robert Half's managing director, says: "Employers continue to seek candidates with general accounting backgrounds who can add value to both clients and the internal dynamics of the team."

The City may be plugging some gaps with accountants from Australia, New Zealand and India – but they're not arriving in sufficient numbers to avoid bidding wars, according to Forro: "Newly qualified ACAs are like gold dust – and they know it. Someone coming straight out of a major firm with financial services audit experience can realistically expect a basic of £45k to £55k – and more likely at the top end of that range. If the market carries on at its present level, we expect the top figure to keep rising into 2008."

Quoted from eFinancial News 13/06/2007

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