HIRING AND SALARIES


Improvement in salaries on the cards Accountants in financial services


Accountants working in financial services seemdestined to go fromfamine in 2010 to feast in 2011, Andrea Clarkson,manager – financial services,MorganMcKinley Ireland, was reported as saying on eFinancialcareers.ie.


Clarkson points to growing demand for “qualified account- ants to preparemonth-end accounts and to head up new and restructured accounting functions”.


Paul O'Reilly, senior consultant – banking & insurance at RobertWalters in Ireland, believes pay rises are on the cards next year. “Candidates with hands-on financial accounting experience within banking, financial services and insurance will be able to commandmoderate salary increases of 5–10pc,” he says.


With salaries and opportunities slowly on the rise, confidence is being restored to the accountancy profession


cut in salaries in 2009, according to Brightwater Recruitment Specialists Salary Survey 2011.


L


ast year was unpredictable with regard to salaries in the general accounting area, with most indi- viduals having taken a 10–30pc


For the most part, 2010 salaries remained stable but were still significant- ly lower than 2008 figures. Many compa- nies polled in the survey expressed an intention to either restore salaries or to reintroduce bonuses to individuals who previously suffered cuts over the past two


years. According to Brightwater, large multi-


nationals, FMCG and hi-tech organisa- tions have seen the creation of new roles as the economy slowly recovers. And pref- erence is for individuals with relevant sector experience coupled with large sys- tems experience. Hiring companies are now looking for


more than just monthly management accounts. Significant concentration on a candidate’s commercial experience is becoming key, particularly on how senior candidates have steered their companies over the past two years, the survey says.


As with other sectors, confidence is


slowly creeping back in accountancy, Brightwater has observed. Some compa- nies who hired an individual on a con- tract basis last year are now offering per- manent roles. Candidates are now more open to considering harder to fill roles such as internal audit or compliance posi- tions. As predicted, junior level positions have increased in number in the last quarter of 2010, and the more senior market will follow suit over the next few months. Brightwater expects this trend to continue well into 2011.


CHARTERED ACCOUNTANTS TRAINING IN BUSINESS


THE CHARTERED ACCOUNTANTS IRELAND (CAI) PROGRAMME, GEARED TOWARDS TRAINING CHARTERED ACCOUNTANTS WITHIN BUSINESSES, FEATURES MENTORING AND FLEXIBILITY WITH STUDY LEAVE


IT’S a commonly held misconception that to qualify as a chartered accountant, stu- dents must train in a traditional public practice. Around 65pc of chartered accountants


work in business or public sector organi- sations and Chartered Accountants Ireland (CAI) is supportive of training in such environments. The CAI programme offers organisa-


tions flexible training options, along with guaranteed staff retention, according to the institute. Features include:


The training contract A unique benefit to organisations is the training contract which all trainees are bound to. In the current competitive mar- ketplace, the contract helps to retain high-calibre staff for a period of three to three and a half years.


Study leave – a flexible approach Training organisations are encouraged to adopt a study leave policy that suits their operational needs. The amount of, and timing of, study leave is a matter for indi- vidual organisations to agree with the


CAI when they register as a training organisation.


Employee status and salaries Students following this route are employ- ees of the organisation. Although they are participating in a formal training scheme with the institute, all questions relating to their employment are matters primarily between the student and the employing organisation. CAI does not have direct involvement


in the remuneration of students following this route. Issues such as salaries, bonus- es, overtime and time in lieu are all decided by the organisation and discussed with the institute at the time of register- ing as a training organisation.


Work experience and mentoring At the heart of the CAI programme is the mentoring relationship between a quali- fied chartered accountant and a trainee. The qualified chartered accountant has responsibility for overseeing the work which trainees are exposed to, and their development within the organisation. In this regard they act as a mentor who


reviews the trainees’ ‘Diary of Professional Development’. The following broad areas are seen as being central to the work of a chartered accountant:


 Financial accounting and reporting  Business finance/treasury taxation  Tax planning  Management accounting


 Auditing: internal control, corporate governance


 Information systems


Recognition of prior experience The training in business route is of par- ticular interest to individuals who have significant experience in the above areas, but do not hold a formal accounting qual- ification. CAI recognises prior experience and, where applicable, reduces the length of the training contract accordingly.


Accountancy, Spring 2011 // 3


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