Join us at Accountex 2013 this June

 

 

This June thousands of accountants across private practice, business and the public sector will be flocking to Accountex 2013 at the ExCeL in London. Accountex 2012 received an overwhelmingly positive reaction and 2013 is expected to be even bigger. 

 

Accountex is the UK’s leading event for Accountants and Financial Directors where you will have access to over 45 leading speakers, 120 free educational seminars, and 100 exhibitors. It’s free to attend and you can also gain CPD points for attending. 

 

              

 

GAAPweb will be exhibiting on stand A305 and it would be great to see you there. For more information please visit Accountex.

 

Register here for your complimentary tickets today.

Bonuses for finance professionals - in perspective

By Dan Jones, Head of Interim Finance Management 

Dan manages the Accountancy Interim and Management Division at Alexander Lloyd and has almost a decade of experience and expertise in the accountancy recruitment industry. The division specialises in providing senior level interim solutions across a wide variety of finance positions, who provide valuable additional resource for businesses in the short and medium term.

A report released in March suggested that satisfaction with bonuses has seen a very slight increase over the past year, demonstrating that perception could be seen as better than reality. 

This report, conducted with UK based financial professionals, found that despite satisfaction increasing average bonus pay-outs were actually down by 2%, with bank employees facing 4 times the average decrease with bonus pay-outs 9% down on average. There has been much hysteria in the media regarding banker’s bonuses but this report shows the figures are not necessarily supporting the claims, though there are still big variances depending on where people work and their role.

So how important is a bonus and a good benefits package to a prospective candidate? It is often a hot topic of conversation when discussing a new role, but from our experience the most important factor is to manage expectations, as bonuses are not often guaranteed and many benefits are not available as soon as a candidate starts, therefore some packages might be perceived as better than they actually are.

Ultimately bonuses and benefits are still an important factor but with bonuses in decline across the board candidates are realistic in their expectations, but for more senior positions companies will need to be flexible for the right candidate.

 

What are your thoughts? Feel free to share your comments and questions below

To find a new accountancy role, browse the latest opportunities from Alexander Lloyd

Accountancy contract pay rises in the North

 

Contract rates for accountants working in the North of the UK are up 5.2% year-on-year, according to results from the 2013 Robert Walters Salary Survey. This compares with increases of 0.5% across the UK as a whole, 0.4% in London and 0.0% in the Midlands. 

The majority of permanent salary levels remained relatively stable, with overall accountancy salaries down 0.1% across London and the UK as a whole and flat across the rest of the country. 

However, accounting professionals are more optimistic about 2013. The Robert Walters Pay and Compensation Survey (conducted in November 2012) reveals that 62% of finance professionals expect a pay rise this year (compared to 60% overall and 54% of HR, 57% of IT and 51% of banking operations professionals). A relatively high proportion of accountants working in the pharmaceuticals (86%), FMCG (81%), banking and financial services (74%), and retail (68%) sectors are predicting a salary increase. Similarly, the Pay and Compensation Survey also reveals that 50% are expecting a bonus in 2013 (compared to 46% of HR professionals, 45% of legal specialists and 38% of IT workers).

 

Andrew Setchell, Director of Accountancy Recruitment at Robert Walters, says:

“It will come as no shock to finance professionals that market conditions are challenging across the UK at the moment and, as a result, both pay rises and bonuses for accountants are scarce. Only individuals considered by businesses as top performers – specifically those capable of either assisting in generating new revenue or cutting costs by streamlining or implementing efficiencies – are receiving these types of financial benefits from their existing employers right now. However, we also continue to see uplifts of up to ten per cent for accountants moving jobs from one company to another. So there is still some flexibility among employers looking to secure the best talent available.”

 

Daniel O’Leary, Associate Director of Contract Recruitment in the North at Robert Walters, comments:

“The increase in overall salary levels for contractors in the North is reflective of the notable demand we are seeing in this area. Many employers are relocating from more expensive locations to the region and a number are seeking professionals on a short-term basis to ensure they complete business-critical projects and cover existing workloads.”

 

Looking for a new role? Search and apply for the latest accountancy and finance opportunities from Robert Walters on GAAPweb 

About the Robert Walters Salary Survey 2013

The Robert Walters Salary Survey 2013 is a review of recruitment and pay trends across each of the 23 countries that the firm operates in globally. The figures quoted are based on the difference between the average salary figures for each of the roles we have recruited for from January 2012 to January 2013.

  

About the Robert Walters Accountancy Pay and Compensation Survey

The accountancy and finance pay survey, conducted in November 2012, is based on the responses of 691 accounting professionals working across a variety of sectors to questions about the pay and bonuses they received and their compensation expectations for the future.

 

About Robert Walters

Robert Walters is one of the leading international recruitment consultancies, with a network of 53 offices spanning 24 countries, including the United Kingdom, Ireland, Continental Europe, the United States, Australia, New Zealand, Asia, South Africa and South America. 

Why Personal Tax could be your next step up the accountancy ladder

Richard Jennings, recruitment consultant at Marks Sattin 

Richard Jennings specialises in recruiting tax professionals into public practice and industry in the Greater London region. After gaining recruitment experience in Australia, Richard moved to Marks Sattin’s London office in August last year. He has developed some key accounts for Marks Sattin Tax across the practice field as well as making headways into the expansive and competitive industry market.

This is an important time of year for newly qualified professionals working within the tax arena. Many have made New Year’s resolutions to make a career change for a more interesting role, a bigger company or even a change of specialism. It’s a big decision that can ultimately shape the future of a career. A common theme with newly qualified candidates is a desire to move into a corporate tax focused role and this is something that should take more consideration.

Many graduates gain exposure to a range of areas across personal and corporate tax after university, and so the question begs to be asked; why is corporate tax so appealing? It is an interesting area with many opportunities to work across a variety of sectors, but knowing the tax market as it is, it seems there is more on offer in personal tax than first meets the eye.

Many recruiters sell the corporate dream of making the first step into industry and a career will be laid out in front of you. It could be the chance to work on a huge merger, or the chance to name drop a couple of glamorous organisations on your CV, but if you look at the opportunities offered outside of corporate tax you may find that the grass isn’t always greener on the corporate side. The personal tax world is one where hard work is a given, but alongside hard work comes the advantage of working with High Net Worth Individuals (HNWI’s).

Celebrity tax avoidance has been a recurring topic as of late within the news, for example, Jimmy Carr and his personal tax advisor ‘finding ways’ of ‘saving money’. As a personal tax adviser you are trusted with a client’s finances and it must be noted that if you do a good job, you will be sure to reap the rewards.  

The importance of personal tax advisory to people in the entertainment industries sees organisations such as Saffrey Champness and Nyman Libson Paul specialising specifically in this sector. Tax advisory in the entertainment industries is not just a service; it is the opportunity to work in a much more personal environment, and ultimately something that may not be found when working with large corporate clients.

Could you imagine working with David and Victoria Beckham, or any other celebrity and their trust fund? It all sounds very intriguing.

To all of those looking toward the next step in their career; consider the options that are available to you within personal tax. In a market that is growing and developing all the time, career growth and progression is a certainty and you may even come across the odd perk or two along the way.

 

To find your next accountancy or finance opportunity, browse the latest opportunities from Marks Sattin on GAAPweb. 

Lack of time greatest barrier to CPD in accountancy and finance

Lack of time is the greatest barrier to Continuing Professional Development (CPD) amongst accounting and finance staff, according to a recent survey by AAT (Association of Accounting Technicians). 

In a survey of over 1500 members and full members of AAT, more than half of respondents identified a lack of time as the main factor hindering their professional development. 

The results also demonstrated that the majority of members take sole responsibility for planning their own learning and development (65 per cent), with 30 per cent of members planning jointly with their managers. 

Other key findings included: 

• Members prefer face to face learning, with hands on development being the most popular (63 per cent), closely followed by lectures and conferences (52 per cent) and discussions with colleagues (52 per cent). 

• A fifth of members spent nothing on their personal learning and development. However, 16 per cent spent between £100-£249 and 16 per cent spent between £250-£499. 

• In-house training organised by the employer (47 per cent) is the most popular method for training used by members in the last year, followed by AAT CPD (40 per cent). 

Benefits and Services Manager at AAT, James Price said the results are revealing: “We carried out the survey to identify the current learning activities and attitudes of our membership. By better understanding the barriers and obstacles they face, we aim to develop appropriate and relevant learning opportunities and products to suit their needs. 

“We all lead busy lives and unfortunately our professional development is often overlooked. Adopting a habit of lifelong learning is one of the best things we can do as professionals, as it allows us to update our skills and knowledge and offer a quality service to employers and clients alike.”

 

Search and apply for a new accountancy opportunity in your desired salary bracket and location on GAAPweb

Finding the right job in Accountancy and Finance

 

If you've decided it's time to move on, consider what you really want from your next role.

  

Self Evaluation

Self-evaluation is critical but often overlooked when you start thinking about finding a job. Take some time to assess what you've learnt in your last job, your strengths and weaknesses and what areas you need to develop. Think about the type of role that interests you and what type of organisation will be actively looking for your skill set. This will help you clearly articulate to recruitment consultancies and employers what you want to achieve from your next move.

Reflecting on your skill set will also help you market yourself and it's of utmost importance that you differentiate how your skills and achievements make you different from someone else with the same academic qualifications.

Research

Talk to recruitment consultancies about the current market, which sectors are recruiting and how long the recruitment process is currently taking. Ask for any market update and salary information and sign up for job alerts that match your chosen role criteria.

 

Search Job Boards

Research which online job boards cater specifically for the industry you are looking to work in. Once you have identified which job boards are appropriate use the search engines to locate roles that match your discipline, job type, salary and location. You could also create a user accounts to upload your CV (for companies to find) but this can be a risky strategy as you have no idea whose desk your CV may land on.

 

Networking

By being well-networked, you are not only enabling yourself to tap into the 'hidden' job market, but giving yourself a real advantage over other candidates. Your network should include anyone who can assist you with a job search or career move. It can include past and present co-workers, bosses, colleagues from business associations and friends. Use tools like Linked In to expand your network.

 

Read The Trade Press For Your Sector

Whatever sector you work in, it's critical to understand the issues affecting your profession or industry sector and in-depth insight will put you ahead of your fellow job seekers. You can also gain key information on who is moving roles to help you target your job search.

 

Choosing A Consultancy To Register With

Look for an established, specialist consultancy that has a good reputation in the marketplace. Although it is often worthwhile registering with more than one agency it is important not to register with more than two to three agencies to prevent your CV from being sent to the same organisation. Ask the consultancy about the benefits of registering exclusively with them - good consultancies will actively market your CV to their best clients and will also target organisations on your behalf.

Another factor to consider is whether the consultants are working on a commission basis - they may not always be objective when assisting with your job search. You should also choose a consultancy that gives every consultant in your specialism access to your CV, if not, you will only find out about the handful of roles that your consultant is dealing with.

 

Content Copyright (c) Robert Walters  

To find your next role, browse the latest opportunities from Robert Walters on GAAPweb. 

Take the next step in your career with a finance job in London

By David Archer

David is the Director of Circle Square Talent London, a specialist Finance & Accountancy Recruitment firm. He started his career as an accountant before moving in to financial recruitment, where he has established a particular expertise within Investment Banking, Corporate Finance & Private Equity.

 

Your Next Career Step - A Finance Job in London

In a difficult economic environment, it can be tempting to sit tight in your current position even if you feel as though you're going nowhere and are simply biding time. Now, however, could be the time to dust off your CV and start actively searching for the perfect next step in your career plan.

Financial Services Industry

As well as having an impact on the job market, the banking collapse did little for the reputation of the financial services industry. Aspiring to work in finance in the nation's capital did not seem a good idea for a while and was perhaps not something to openly discuss.

Whilst we still find ourselves in a harsh financial climate, however, the financial services industry is beginning to rebuild its reputation. After a period of thought, companies have sought to improve their processes and realign their business objectives. Many are now in a position where they are beginning to start investing in their future again. 

Great News for Jobseekers

This is great news for job seekers. The financial services sector offers a diverse range of role and specialities. From banking to insurance, accountancy to risk management, there are any number of professional roles that offer good career progression and remuneration prospects. 

A day in the life of a Financial Planner

 

Thinking on a career in Financial Planning?

 

We spoke to Karthica Underwood, Chartered Financial Planner at Principal Financial Planning to find out more about the job and how her career has panned out over the last 13 years. 

How did you get into Financial Planning?

I left university with my degree in Statistics and Management Studies but without a firm idea about what I wanted to do.  After a year’s stint at the Office of National Statistics I was offered a job providing administration support to a couple of advisers. That was my first exposure to financial planning and where my training began.

 

How long have you been in the industry?

About 13 years. My early years were spent supporting the advisers I worked with and that together with the exams I was doing gave me a really good grounding in financial planning. When a colleague retired 7 years ago, an opportunity to move into an advisory role arose which turned out to be my break.

I started my career with a very large firm but since then the companies I have worked for have been much smaller - on average a team of 4 or 5 people.

 

What does your job involve?

In short my key objective is to help my clients achieve financial freedom. It’s about helping them get from where they are to where they want to be…but not just in a few years’ time but throughout their lives.

At Principal Financial Planning we take a holistic approach to help our clients so we look at all areas from cash savings, protection needs to investment and pension planning. Our primary ‘product’ is our advice and planning for the client. Our secondary product is actual products such as some income protection cover or pension plans.

 

What do you enjoy most about your job?

I love getting to know people and the variety of the planning solutions available. I get this in bucket loads from my clients and other professionals that I meet.

 

Who are your clients?

They tend to be individuals, couples of families or small businesses. For individuals, the needs typically range from protecting to investing. For businesses the needs typically tend to focus around contingency planning such as key person cover or group life cover and pensions.

 

What qualifications and skills do you need to be a financial planner?

From 1 January 2013, all advisers/ planners need to have a Diploma in Financial Planning as a minimum.   You need to be personable, a good listener and have confidence in yourself and what you do.

 

What are the earnings like?

You will either be salaried, earn a % of the fees you generate or a combination of the two. Dependent on qualifications and experience, you can expect to earn a base salary of around £30-£40k plus bonuses.

 

Any advice for those wishing to join the profession?

Talk to other people in the industry and try to get some work experience with a finacial planning firm because the key to knowing if this is for you is to get exposure to the work itself. Your actual role is likely to be in one of the other areas of the firm but it will give you a good overview.  Also see if you can sit on some client meetings to get a feel of that side of things.

 

If you're looking for a new opportunity in Accountancy and Finance, search and apply here

 

Meet PQ Personality of the Year 2013, Ronnie David

 

"We believe that accountants can have personalities! Ronnie is living proof of this." 

- PQ magazine's editor Graham Hambly

 

Now in their 11th year, the PQ Magazine Awards are the UK's premier accountancy awards with a range of categories including our favourite 'PQ Personality of the Year'.

The winner was chosen by an independent panel which included Nicki Burke, Acting Had of PR at the AAT; Professor Prem Sikka, Professor of Accounting at the University of Essex and Lisa Dendle, MD of top recruitment consultancy Walker Dendle....

 

...who were on the lookout for....

 

...'An accountant with real charisma, a go-getting attitude, and the ability to make colleagues laugh. Someone with the ability to create a positive vibe in their workplace and within the profession.'

 

Graham Holt, Gareth John, Ronnie David, Shaun Robertson, Martin Rowlands and Rob Sowerby made it to the shortlist but...

 

...the WINNER was Ronnie David from UHY Hacker Young whose wit and inherently chatty nature has also won his personality unspoken accolades from colleagues who describe him as ‘a unique individual who is not afraid to talk to anyone!’. “He has a great sense of humour and always makes me and fellow associates erupt with laughter", said one of his co workers. 

He is currently employed at UHY Hacker Young, prior to which he worked at a Private limited company, the Ministry of Defence and a conglomerate of property companies. Ronnie’s accountancy experience spans both public and private sectors and in addition to winning PQ Personality of the Year 2013 he has also been selected by the ACCA to be one of its prestigious 'Leaders of Tomorrow'. 

 

Following his recent win at the PQ Magazine Awards we spoke to him about his career and achievements to date....

Accountants' Total Pay up 7% says Marks Sattin

Accountancy pay has risen by 7% over the past year according to the 2013 Market Report from specialist accountancy and finance recruiter, Marks Sattin.

Salary growth was 5%, from £60,788 in 2011/12 to £64,022 in 2012/13.

In addition to this, the average accountants’ bonus was £11,012, exceeding their own pre-bonus season expectations by £1,409. Accountants on average expected a bonus of £9,603. 

When questioned in November 2012, accountants expected 15% of salary as a bonus. However the actual average is substantially higher at 17.2% of salary. This also represents a marginal rise on the 16.9% seen the previous year. 

Satisfaction with bonus levels rose from 65% in 2011/12 to 70% in 2012/13.

Dave Way, Managing Director of Marks Sattin said,

“These figures are a huge boost for accountants and offer proof of the resilience of accountancy as a profession. In tough financial circumstances, companies have a stronger focus on their purse strings. Obviously accountants aren’t immune from the gloomy economic news, hence their understated bonus expectations, but the news is actually very good for them – these figures represent the third year in a row of solid, above inflation, pay growth.”

Total Accountants’ Remuneration (including salaries and bonuses) 2011-2013

Along with higher average bonuses (£11,012 compared with £10,400 in 2011), a higher proportion of accountants received a bonus in 2012/13 – up to 47% from 45%. This means the total accountancy bonus pot has swelled from £3.1bn in 2011/12 to £3.4bn in 2012/13.

The percentage of accountants saying they are confident about their company’s economic prospects has risen one point over the past year from 19% to 20%, while the proportion saying they are not confident has fallen from 27% to 23%, 

Dave Way continued,

“Salary growth makes for increased security and positivity while strong bonuses increase people’s confidence in their companies economic performance – a tonic the market is thirsty for currently.”

To find your next accountancy or finance opportunity, browse the latest opportunities from Marks Sattin on GAAPweb.