Posted: Thu Feb 14, 2008 11:29 am Post subject: Joslin Rowe point to the number of senior roles in accountan
Joslin Rowe point to the number of senior roles in accountancy market to show that all is not doom and gloom
Released on: February 14, 2008, 7:00 am
Press Release Author: Joslin Rowe
Industry: Human Resources
Press Release Summary: Joslin Rowe reports that despite recent market turmoil investment banks are still recruiting for senior vice president jobs in a show of long-term confidence
Press Release Body: After a bumpy six months within the investment banking world, questions have been asked about likely hiring volumes for 2008. However, the number of senior accountancy jobs would seem to suggest that investment banking recruitment should remain relatively healthy - for accountants at least.
Over the last few months several senior vice president jobs have come to the marketplace. Senior VP jobs, which are also known as director or executive director roles, depending on the investment bank, are traditionally a rarity. For every 50 vice president vacancies on the external market there is usually only 1 senior VP job.
Simeon Hall, senior consultant on the Joslin Rowe accountancy recruitment desk, pointed out: "There's no doubt that the market for accountants is still very strong. For example, I am currently recruiting for a senior vice president job within equities decision support - one step below managing director level. This role is very attractive for a couple of reasons. The first is the actual role itself which would give the successful applicant a real career move away from product control that is still relatively rare. The second is that it demonstrates market confidence. Senior roles are often the first to suffer from headcount issues in a bad market but this isn't proving to be the case in the accountancy world."
Indeed, according to the recent Joslin Rowe salary survey senior accountants working in product control jobs within investment banks have seen their salary rise by 15-20%. This is a premium on other senior finance jobs which have commanded in the region of 10%. A senior VP could typically command up to £120,000 with up to 100% of their salary again in a bonus. Much of this salary growth has been driven by candidate shortages. Currently there are just 7 applications for every 10 accountancy positions and this shows no sign of abating. Salaries are also maintaining their buoyancy and have not dipped in the wake of the sub-prime crisis.
Simeon Hall believes: "Much has been said about market conditions but in the accountancy world it would take a huge shift before we faced an employer or vacancy driven market. For the last three or four years there have been way more accountancy jobs than accountants and I can't see this changing."
Notes to Editors
About Joslin Rowe
Established in 1982, Joslin Rowe is one of the leading financial services recruitment firms in the UK and Ireland. On 7 April 2006, international staffing services company Vedior (headquartered in Amsterdam, the Netherlands) raised its stake in Joslin Rowe's parent company, The Blomfield Group, from 18% to 70%. Joslin Rowe recruits for banking HR jobs across London, Edinburgh and Glasgow including long-term contracts, temporary and permanent roles.
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