Increasing demand for finance professionals drives up salaries
This year, there were almost one third more finance job open compared to a year ago. This scarcity is translating into salary increases for the most sought-after finance professionals.
This is according to the new Salary Survey from global recruitment firm Robert Walters. Now that companies have finally emerged from the pause, the demand for finance professionals is skyrocketing, according to Robert Walters.
November 2021 saw an all-time high of 7,746 finance and insurance job openings, up a staggering 64 per cent on the previous year according to Jobfeed data.
"Demand for finance specialists remained steady during the pandemic," says Els Van Der Veken, Director at Robert Walters. "But now that the economic situation is evolving positively, new projects are starting up and new investments are being made. Organisations are once again attracting more finance professionals than they were a year ago. Recruiting and onboarding new remote workers is also going more smoothly.”
Salaries on the rise
The shortage of finance professionals also translates to salaries. "The most sought-after profiles are experienced specialists within accounting, controlling, reporting and consolidation. We also expect considerable movement in the labour market for management positions, which will also result in salary increases," says Els.
According to Robert Walters, in the battle for scarce talent, it is a must for companies to tightly organise their recruitment process. Many finance professionals also believe it is important to be able to grow in their new role, for example through training, but also by leading special projects or starting new initiatives.
"We therefore advise employers to develop a career plan for their employees. This can be a promotion, but also a more horizontal growth in tasks. When attracting more junior professionals, it is also advisable to outline a clear development plan and to talk about it during the job interview.”
The Salary Survey 2022 provides an overview of labour market trends and salary developments within, among others, accounting & finance, banking & financial services and interim management.
Find out more?
Compare the salaries in your field of expertise with the Robert Walters Salary Survey Are you open to a new challenge? Check out our vacancies in Accountancy & Finance.