SALARY SURVEY 2013 - Robert Walters Singapore
SALARY SURVEY 2013 - Robert Walters Singapore
SALARY SURVEY 2013 - Robert Walters Singapore
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NORTHOFENGLANDNORTHOFENGLANDACCOUNTING&FINANCENORTHOFENGLANDACCOUNTING&FINANCEACCOUNTING&FINANCE<strong>Robert</strong><strong>Walters</strong>GlobalSalarySurvey<strong>2013</strong>47Commerce&IndustryOurManchestercommerce&industrydivisionrecruitspermanentpartandfully-qualifiedfinanceprofessionalsacrossallsectorsforbothmajorblue-chipandsmallerSMEclientsintheNorthWestmarket.Typicalrolesinclude:• Audit/compliance/riskspecialist• Chiefaccountant• Commercialaccountant• Financebusinesspartner• Financedirector• Financialcontroller• Financial/managementaccountant• Tax/treasuryaccountantMarketOverviewWesawasteadyincreaseinrecruitmentactivityintheNorthWestoverthecourseof2012.Themajorityofdemandwasatthenewlyandrecently-qualifiedlevelasbusinessescontinuedtoinvestinnewstaffwhocouldgrowanddevelopwithintheorganisation.However,companieswereadoptingamorecautiousapproachattheseniorendofthemarketwithemployeesextremelyselectiveabouthiringatthislevel.Hiringmanagerswereoftenextremelyselectivewhenrecruitingfinanceprofessionalsandtypicallysoughtindustryexperienceandatrackrecordofworkingwithinasimilarsizedorganisation.Thiscausedsignificantcompetitionforthebesttalent,whichinturnledtoanincreaseincounter-offersuponresignationasorganisationsfocusedonmaintainingstabilityandrewardingtheirbestpeople.Specifically,wesawfinancialincentives,additionalcareerdevelopmentopportunitiesandworkresponsibilitiesofferedtothetopperformingfinanceprofessionalswhentheyreceivedajoboffer.Withfinancemorereadilyavailablefrombanks,recruitmentlevelsincreasedwithintheSMEmarketin2012.Manyofthesebusinessesrevisitedexpansionplanstheyhadpreviouslyputonhold.Othersalsobegantohireintopositionsmaderedundantduringtherecession.Asaresult,weexpecttheretobeahighvolumeofrolesavailableforcandidateswithall-roundaccountingskillswhoenjoythechallengepresentedbyworkingforasmallerbusinessthroughout<strong>2013</strong>.Outlookfor<strong>2013</strong>Overthenext12monthsweexpectcontinuedbutslowgrowthacrossthecommercialsectorasmarketconfidencebeginstoslowlyreturn.SMEsarelikelytobeparticularlyactivehirers.Inaddition,anumberofLondon-centricbusinessesareintheprocessof,orconsidering,movingmanyback,middleandfrontofficefunctionstotheNorthWest,withManchesterapopulardestination.Thisislikelytocreatesignificantdemandforhigh-calibrefinanceprofessionals.InterimManagementOurinterimmanagementdivisionfocusesonprovidinginterimsolutionswithincommerceandindustry,particularlywithinperiodsoftransitionandchangemanagement.Werecruitforthefullspectrumofroleswhichcoveranytransformationagendaincluding:• Interimfinancedirectors• Interimfinancialcontrollers• Interimprogrammedirectors• InterimprojectmanagersMarketOverviewOverall,theinterimmanagementmarketremainedstablewithjobvolumescontinuingataconsistentlevel.However,wedidseeaslightincreaseindemandfrommanufacturingbusinessesasthesecompanieswerereluctanttohirepermanentheadcountandinsteadsoughtaninterimsolution.Withretailcompaniesespeciallysensitivetoweeklyandevendailychangestomarketconditions,thereremainedaneedforanalyststoidentifytrendsandcostsavings.Anincreaseinregulatoryprogrammesresultedinbusinessesimplementingchangeinitiativesthatrequiredinterimspecialists.Asanexample,thefinancialservicesindustrywasimpactedbySolvencyIIandCRDIVlegislation,whichcreatedademandforprojectmanagersandspecialistsinthisfield.Costreductionprogrammesacrossvariousindustriesledtoincreaseddemandforchangemanagersandoutsourcingspecialists.Withsystemsupgrades(e.g.OracleandSAP)alsoontherise,themarketexperiencedashortageofsystemsaccountantswithspecificenterpriseresourceplanning(ERP)exposure.DuetotheincreasedvolumeofprogrammesbeingimplementedintheNorth,projectmanagerswereabletocommandapremium-particularlythosewithregulatoryexperience.Withbusinessestypicallyhavingtomeettightdeadlinerequirements,projectmanagersweresometimesabletoabletocommandrateincreasesofupto25%.However,overallinterimratesforfinanceprofessionalsfellbyupto10%duetoincreasedjobseekernumbers.Outlookfor<strong>2013</strong>Withanincreaseinmigrationandoutsourcingprogrammesanticipatedandthelikelycontinuationofregulatoryprogrammesin<strong>2013</strong>,theinterimjobsmarketwillremainrelativelystrong.Becauseofthesemainmarkettrends,weanticipateareductionincorefinanceinterimpositionsandacontinuedsurgeinproject-focusedroles.Giventheoveralleconomicclimate,weexpectcompaniestoremainreluctanttoaddpermanentheadcount,creatingfurtherdemandforinterimsastheylooktocoverexistingworkloads.Withinterimmanagementquicklybecomingacareerchoiceforprofessionalslookingtobroadentheirskillsetsandultimatelytakeadvantageofanoftenvolatilebutalsointerestingandrewardingmarketplace,therearesomestrongcandidatesavailable.
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