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It is the time of year, we are seeing ACAs move from practice to industry.
But this year is different….candidates are shorter than ever and the cost of living is higher, so how does this all affect the market?
Here are 4 trends we are seeing…
*These are broad insights into the market, there will always be exceptions!
**Those who studied CA are also covered here, considered interchangeable with an ACA.
They want around £50k
The main driver of salary demands will always be a candidate’s current salary. And audit firms are offering more than ever.
You work hard for three years, in anticipation of qualifying and getting that big jump up to a qualified salary.
What we are seeing from the big 4 now is qualified salaries of £44k – £45k, with bonus on top.
This means first-time movers are now seeking circa £50k to move. This figure may change a little based on firm or size of firm, but ultimately that is where we are now, salary-wise.
They want something commercial
Ten/fifteen years ago, it was often expected that when you come to leave audit, you spend 12-18 months in an internal audit position to get your foot in the door of a PLC, before moving off into a more interesting role. Those days are gone.
The vast majority of first-time movers now want a commercial role (Finance business partner/FP&A) and do not want a reporting heavy or internal audit role.
The knock-on effect here is reporting roles are tough to recruit for, and internal audit roles even more so!
However, if you are an ACA first time mover who is willing to consider these roles, you should have the pick of the market and a higher salary to go along with it!
They want flexible working
I don’t know a top 20 firm that do not offer flexible hours and hybrid working. For this reason, most ACAs have only ever known flexible working.
It is now a non-negotiable for many first-time movers.
More are staying put
Audit firms are really stepping up their efforts to keep staff on board a year or two more….incentives include higher salaries, career coaches and personal progression plans. More people are staying put than normal.
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