March - Market Update

Hays Accountancy & Finance NSW

February has flown by so it’s time for our March update.  In the candidate market we still have a healthy volume of Working Holiday Visa candidates registering, at both the accounting support and senior finance level.  In fact, the availability of candidates for temporary roles has definitely increased across the board, mainly as a result of redundancies or contracts coming to an end.   Temp candidates are moving quickly and as such they are able to command competitive rates for the roles they secure.  In the government sector we have seen a shift towards contracts ending or candidates being converted to fixed term contracts/permanent roles, with new roles being subject to budget restrictions.  We are therefore seeing more candidates with government experience on the market than we would usually, particularly Analysts and Finance Business Partners.  When we look at candidates searching for permanent roles, we have been interviewing strong Big 4 first movers keen to secure a role in a commercial environment, Finance Business Partners across a range of industries and Credit Control/Accounts Receivable candidates.  While salaries have generally stabilised, you can expect to be paying up to 20% more for AR/Credit candidates than you were 2 years ago. 

On the job front, job flow has increased through February, particularly in Accounts Receivable/Credit Control on the accounting support side of things, with Accountant/Senior Accountant roles showing increased demand in the Qualified market.  We’ve seen the market softening slightly when it comes to Manager and Controller level roles.   There has also been an uptick in the incidence of Financial Analyst/ Commercial analyst roles, where candidates need excellent Excel and financial modelling skills.  We have also observed that more companies seem to be looking for part-time candidates and fixed term contracts. 

I have had conversations with a number of clients regarding work from home versus returning to the office.  While there are a small number of clients, mainly privately owned businesses, that require staff to be in 4/5 days per week, the general consensus is to have staff in the office 3 days per week (and set days ideally to allow for greater collaboration with the team).  We can’t see that changing significantly in the next 6 – 12 months but I’ll be sure to keep across this topic as we move through the year.  We have also seen more candidates who are open to working from the office more often rather than wanting significant work from home flexibility.

Last but not least, we launch our 2024 Salary Guide Survey this week – follow this link if you are keen to have your say!  Hays Salary Guide Survey 2024