Looking for high paying accounting jobs in the finance field? According to a number of recent reports, the availability of accounting jobs is increasing significantly—and the pay is getting better, too.
According to a recent Los Angeles Times report, for instance, professional services jobs—including consultancy jobs, engineering jobs and accounting jobs—are currently growing in California by more than twice the rate of overall employment that's been tracked since the end of the recession in 2009. That means that these fields are some of the fastest growing in the entire country. There's a lot of support for further growth, as well.
"This is where we want the jobs," Christopher Thornberg, a founding partner at Beacon Economics, told the news outlet in regards to these white collar positions. "These are high-skilled, high-paid jobs."
In fact, this seems to be true across the world. A recent report from Economia noted that London employers were looking to hire 23 percent more accounting and financial professionals during the second financial quarter of 2014 than they did during the same period in 2013. This illustrates something that's true not only in London, but also across the world: the finance industry is bouncing back, and jobs are opening up regularly as a result. That, in turn, is leading to better salaries as well.
"With the supply of professionals remaining constant we are seeing signs of upward pressure on salaries, and would expect this momentum to continue towards the end of the year as salary reviews approach," Andrew Setchell, managing director of Robert Walters, explained to Economia.
It's not just California and London seeing growth in this sector
Another recent report, from Crain's Detroit Business, also suggested that the time to apply for accounting jobs is right now. It noted that some local accounting firms—such as Plante Moran—are searching so hard for professionals that they are currently offering their current staff up to $5,000 in bonuses if they're able to refer an unemployed CPA to work at the firm. The article also noted that "the best new accounting graduates and experienced professionals both may expect multiple job offers—sometimes before they officially start to look for a new job," further illustrating that it's a great time to be on the hunt for these positions.
"It's a candidate-short market," Robin Ankton, regional vice president at Robert Half International, explained to Crain's. "If you want a candidate, you have to move very quickly. [Accounting] is very, very hot … everybody wants a senior accountant. Even if you don't have an opening and you find a great senior accountant, they'll make room."
The news outlet then went on to cite data from the Manpower Group, who recently found that accounting jobs and finance jobs were among the 10 occupations currently hardest to fill in the U.S. Hiring managers are even reporting that accounting and finance professionals are currently harder to find and hire than engineers are. So if you're looking for positions in those fields, it's clearly the time to polish up your resume and send it out.
"Companies are beginning to focus more on growth, hiring and investment," Arleen R. Thomas, senior vice president of management accounting and global markets for the American Institute of Certified Public Accountants, said in a statement, according to the report.
The finance sector remains promising for young professionals
According to a recent report from BizJournals, confidence levels among finance industry workers is shaky—but demand for them is sky-high. The report quoted Randstad U.S., which recently found that "the finance and accounting sector remains one of the most promising and in-demand professions in the labor market." The report noted that more than half of all finance and accounting workers feel confident in the future of their current employer, for instance. There are plenty of jobs available in these fields—although competition for the positions is heating up.
"More and more students are opting for accounting degrees, both at traditional brick-and-mortar schools and through online degrees," Rebecca Callahan, group president of professional solutions at Randstad, recently said to the news outlet. "In fact, Forbes ranked master's degrees with the best long-term opportunities and finance came in at number six. With more accounting graduates entering the marketplace, competition for the most coveted jobs is beginning to heat up."
At the end of the day, the Randstad data reported by the news source offers the same takeaway that the aforementioned news reports did: the accounting job market is in very good health. The firm found that more than half of all accounting and finance workers are confident that they could find a new job right now if necessary. Additionally, more than 70 percent of all workers in this field currently feel very secure in their jobs.