Finance

Michael Page Finance recruitment analysis August 2015

 
With ongoing improvement in the UK economy, a number of key trends are arising across the accountancy and finance recruitment market. Last year, growth was predominantly seen in London and was underpinned by massive growth in the professional services market. This trend has continued through into the second half of 2015. Employers continue to have to fight for the best talent and to demonstrate the value of working with them. 
 

Regional analysis

 
London still powers forwards with good growth continuing through the middle of 2015.  Economic data shows signs of London job growth slowing, but we saw no evidence of this in the recruitment of qualified accountants.
 
The Midlands which has shown excellent growth over the last six months also remains strong with the highest Q1 to Q2 growth of any region.
The rest of the UK is more inconsistent.  The dramatic fall in the North East is probably down to a particularly strong first quarter as it is still up compared to this time last year.
 

Placements per region

 

Sector analysis

 
Professional services continues to drive the finance recruitment market with impressive growth. It has now been the fastest growing area of the market for seven consecutive quarters.
 
The public sector has held steady in terms of the volume of placements since the first quarter of the year. Year on year, the sector has had a notable 25% increase in placement volume. While financial services has taken a small step back since the first quarter in terms of volume, there is a substantial gain on this time last year.
 
We are seeing positive results in the city and especially in the regions across many core disciplines.
 

Placements per sector

 

Salary level analysis

 
While the volume of £100k plus placements dropped in the second quarter, there was an explosion of new mandates in June. This indicates probable growth in the second half of the year.
 
The lower end of the market remains active and drives overall volume growth.  The £70k to £80k bracket is notably good with 25% growth year on year.
 

Placements salary level

 

Client analysis

 
SMEs and start ups are driving the economy as well as our growth in recruitment.This part of the market is growing, ambitious and confident, and there are many new organisations appearing.  Many candidates have a preference for this market - SMEs and start ups tend to move quicker and sell themselves harder and more effectively than larger organisations.
 

Placements per company size

 
We feel that the continuing strength of the SME market will ensure a strong overall market and the candidate shortage will force organisations to focus on candidate attraction and retention strategies.
 
To discuss your future finance recruitment needs, get in touch with your local Michael Page Finance team.