eFinancialCareers

Banks’ demand for part-qualified accountants is dwindling, unless they’re in the very final stages of study.

According to recruiters, investment banks are pursuing ‘right-sizing’ strategies – choosing not to replace certain leavers in order to return finance teams to less indulgent headcount levels. Part-qualifieds are feeling the squeeze.

This doesn’t apply to those at more advanced stages of study though. Laura Kirk of WH Marks Sattin explains, “Finalists are increasingly being taken on for roles traditionally reserved for newly and recently qualifieds. That’s not down to the need to save money – it’s just that there’s a growing awareness that many finalists have already developed the requisite skill sets.”

But where finalists aren’t available, banks – perhaps in fear of placing vital roles in the hands of people less capable than regulators or shareholders might prefer – are opting not to pass responsibility further down the line to candidates in the very early stages of training: “Skills gaps or special project vacancies would more likely be filled by experienced temporary candidates,” says Zachary Meade of FSS City.

According to the latest salary survey from recruitment firm Robert Walters, part-qualifieds can earn salaries of up to £42k as management accountants in the City and up to £70k as product controllers.

Meade says niche skill sets such as risk or compliance will boost earning power.