VANRATH rounds up the key trending market topics in Accountancy
There has been much discussion about remote working, many UK businesses believe it is a permanent trend, and accounting sectors are continuing to hire flexible and remote workers. Flexible working is one of the key aspects that has emerged since the pandemic most companies have had to reshape the way they operate. However, it needs to be said the one size all approach does not fit all particularly newly qualified professionals joining the working world, could it be worthwhile for them to be in the office and gain experience from other colleagues? A lot of accountancy firms’ decision to return to the office is predominantly to interact with their clients and establish and maintain face-to-face relationships. Considering the past few years and the uncertainty that remains employees need to show a willingness to adjust to the working model companies may implement.
The growth and career progression in the accountancy sector highlight the importance of the demand for the accountancy profession. The average salary for a newly qualified accountant in Northern Ireland is £35k and salaries based on experience can go up to well over £60k by focusing on professional development and upskilling through online courses, certifications, and joining training programmes all useful ways to progress and develop. Overall, in the UK there has been a 9% increase in financial analyst salaries an 8.6% increase for credit control managers, and a 7.3% increase in salary for payroll managers, highlighting the range of demand for roles in accountancy.
There has been a strong recruitment demand for senior professionals to guide companies through the challenging periods. Across all industries employment has become competitive, accountancy being one of the most recession-proof careers. Accountancy remains an extremely stable and attractive profession to work in with new opportunities arising in Accountancy and Finance industry in NI is growing with over 30,00 people employed in the sector. Employment rates are with traditional roles such as payroll and finances now being greatly sought after well as a growth in the industry in areas such as data and analytics. There is high demand for newly qualified accountants, particularly those in audit and/or practice. We currently have over 90 live roles from remote to office-based.
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