Key Trends In Ireland’s Accounting & Finance Sector in 2015

If you’re stuck in a career rut and want to find a new job in the buoyant accountancy and finance sector, or if you are already working in the sector but want to up-skill then read on to find out why now is the perfect time to make your move …

Over the past year, there’s been a surge in the number and variety of roles in Ireland’s accounting sector and that trend is expected to continue. Rather than opting for hiring contract workers, as was the case during the recession, employers are now looking to hire key talent on a permanent basis.

Salary Increases

An increase in the number of accounting and finance roles means it is a candidate’s market and as large FDI companies enter the Irish job market competing for top talent this will create further job movement and opportunities, and will result in rising salaries and other lucrative incentives for accounting professionals.

According to Brightwater’s 2015 salary survey, commercially-focused candidates with specific industry skills and a proven track record in adding value can expect to see:

“a 2-5% increase in their basic salary. This is particularly evident in the newly qualified market and candidates with specific industry experience in the growth markets such as hi-tech, FMCG (especially food and drink), retail, pharmaceutical, multinationals and shared service centres.”

Key Trends

Morgan McKinley Ireland recently published a Salary & Benefits guide that gives some useful insights into the key trends and most in-demand roles within Accountancy and Finance.

The key trends identified are:

• Commercially focused accountants that can provide value analysis rather than retrospective financial reporting are key hires for companies in growth mode
• Food, Energy and the ICT sectors continue to see sustained growth creating a greater demand for Financial, Business and Commercial Analysts
• An increased demand for middle market Accounting and Finance professionals with 3 years post qualified experience
• Organisations that understand the importance of a strong Employer Value Proposition (EVP) for attracting candidates ahead of their competitors

The research also found that the most in-demand positions are

1. Financial / Group Accountant (1-3 years post-qualified experience)

2. Commercial Accountant

3. Financial Analyst

There is also a strong demand for contract System Accountants, Management and Financial Accountants and Commercial Accountants.

SME Demand For Accounting & Finance Skills

As a result of the number of small and medium-sized business start-ups increasing exponentially, there has also been a rise in the demand for accounting skills and qualified accounting professionals, and although most hiring has been in medium and large organisations, there is continued growth in the SME market. According to Morgan McKinley, SMEs are:

“following the lead of established organisations and are increasing their capital investment in ERP (Enterprise Resource Planning) upgrades to streamline operations and afford more transparency to enable business critical decisions. As a result, there is an increased demand for highly experienced Project/ System Accountants.”

So how can Griffith College help you make your move?

If you’re looking to study part-time and gain an accountancy and finance degree …

Griffith College’s part-time BA (Hons) degree in Accounting and Finance is taught entirely by evening study so you are able to combine your academic studies with daytime and work commitments. The majority of our part-time students work and care for a family, so you will be learning alongside peers from a wide range of backgrounds and this creates a stimulating learning environment.

You will develop a range of transferable skills, including analytical, quantitative and management skills, and gain a clear understanding of the business, social and legal environments in which accountancy operates.

Exemptions from professional accountancy exams are a key benefit of the part-time degree. On graduation students are exempt from a number of professional accountancy exams including:

ACCA: exemptions from all fundamental Level (9 papers) and can immediately study for the five Professional level papers and it takes students roughly a year to complete these five papers

CPA: exemptions from Formation 1, Formation 2 and Professional 1 papers (subject to electives taken), and can then immediately take Professional 2 papers. Again, it is expected that this will take students around one year to complete

ACA: please email the Faculty of Business to find out more about the ACA exemptions

Please Note: Programme modules, content and exemption approvals are subject to ongoing quality assurance reviews and evolve to reflect educational developments.

Find out more about studying the Accountancy and Finance degree part-time

If you’re completely new to accountancy …

If you’re looking for an introductory qualification to accounting and finance then the 1-year ACCA Diploma in Accounting and Business or the CPA Certificate in Business and Accounting may be good options to consider. They’re ideal for school-leavers and those already working in account support roles.

Visit the College’s School of Professional Accountancy website pages to browse all professional accountancy qualifications.

Written by Lydia Casey