eFinancialCareers

Contrary to what we wrote a few months ago, one recruitment firm now says banks do want part-qualified CIMA and ACCA accountants after all. Although recruiters told us banks were getting cold feet about part-qualifieds back in March, recruitment firm Morgan McKinley swears part-qualified accountants from industry and commerce are still all the rage. Ian Hughes, manager at Morgan McKinley, says it’s all down to calibre: “Banks want the best talent available... Read more

With big investment banks taking longer to hire people, smaller institutions are now better placed to snap up good finance professionals. Recruiters say they’re making the most of the situation. Laura Kirk of recruiter WH Marks Sattin says, “We’ve seen an increased hiring appetite from smaller firms, which are taking advantage of market uncertainty to go hunting for top-tier finance talent. Increased caution in larger banks means they occasionally lose... Read more

Just when investment banks are feeling the pinch, it seems asset managers are increasingly keen on poaching their accountancy staff. Recruiters say it helps that asset managers have several things in their favour – including salaries that are now more on a par with banking and a ‘fun’ environment. “Over the last year, basic salaries have risen for finance roles within asset management to bring them more in line with those... Read more

A new survey says accountants are working even longer hours. But only a few dare complain in the City. The survey, by recruiters Andrew Farr Associates, found that two thirds of accountants work the equivalent of nearly 50 days of unpaid overtime each year. In investment banking, headcount budget cutbacks mean everyone’s being squeezed just a little bit more. One recruiter recently met an accountant who’d been hospitalised for exhaustion due... Read more

IT temps may be earning less than they used to but accounting temps are still raking in the cash – according to recruiters. Matthew Wilcox of WH Marks Sattin says competition for accounting contractors is now such that the best candidates in hot areas are being encouraged to stay put with counter-offers woth 10% more than they’re currently earning. A regulatory accountant with five years’ experience can now earn... Read more

Qualified accountants looking for a change from the norm could do worse than pitch their talents to Target Chartered Accountants. The star of this year’s Accountancy Age Top 50 is trying to hire 50 additional staff to deal with increased business. Keith Seeley, group MD, says 22% of the firm’s turnover is currently related to financial services, but that it accounts for 49.5% of its revenue growth. London isn’t “fully... Read more

ACAs working in investment banking earn on average £93.8k, with typical bonuses coming in at £64.6k, according to the latest salary survey from recruitment firm Robert Half. By comparison, ACAs in commerce earn on average £76.2k, with £21.7k in bonuses. Accountants in banking earn more, but not massively more, which might be why banks are trying to improve their image in the accounting community. The days of a cut-throat, aggressive City... Read more

The impending transfer of securitisations held off-balance sheet back onto the books could generate windfalls for technical accountants. FAS140 (Statement of Financial Accounting Standards No.140) revises reporting procedures for securitisations and calls for greater disclosure, requiring re-classification of assets worth billions. Steve Leeson of Morgan McKinley says, “Technical accounting skill sets have been in demand by banks reporting in the US for the last few years. But while we’re less likely to... Read more