Finance Salaries Fall By Up To 20%, While Pay Rates For Interims Rise
added september 11th 2009London 11th September 2009 - Finance professionals have experienced pay cuts of up to 20% since the start of 2009, reports specialist senior financial recruiters, Reed Finance, which polled over 45,000 jobseekers and 10,000 employers following a turbulent first half of the year.
However, interim finance specialists have seen their daily pay rates maintained or, in some instances, increase over the same period. Clearly, some organisations have reduced permanent headcount but maintained business continuity by bringing in external experts on short-term contracts.
Across all industry sectors, specialist skills such as analysis, modelling and forecasting have been in greatest demand - with employers seeing the added value to be gained by identifying and predicting trends. In addition, recruiters have seen sustained demand for experts in risk, compliance and statutory accounting. Signing on ‘bonuses’ have even been in evidence within the most high-demand skill sets.
In terms of industry sectors, finance specialists within retail seem to have survived the recession well, with recruitment levels maintained. Recruitment within senior finance posts in the Public and Third Sectors also remained constant in the first half of 2009.
Across the board, requirements for qualified accountants have recently begun to increase significantly on the back of renewed confidence among both employers and jobseekers.
“It's too soon to say whether these are deep-rooted green shoots or just a temporary upturn” said Reed Finance Divisional Director Tim Vye, "but we are definitely seeing some promising signs and more sustained demand for senior and executive-level finance professionals.”
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Notes to Editors
About Reed Finance
Reed Finance specialises in the recruitment of senior and executive-level finance professionals, both permanent and interim, across all industry sectors.
Through a national network of branches, Reed Finance provides tailored recruitment solutions based upon individual client requirements.
Reed Finance attracts new senior-level jobseekers every month and has access to an unrivalled database, including over one third of all accountants within the UK.
About Reed Specialist Recruitment
Reed Specialist Recruitment is part of Reed Global, which also includes Europe's biggest jobsite - reed.co.uk; one of the world's leading Welfare To Work providers - Reed In Partnership; and the UK's learning provider of the year - Reed Learning.
Founded in 1960, Reed is a specialist provider of permanent, contract, temporary and outsourced recruitment solutions, and IT and HR consulting.
Reed operates in Europe, the Middle East and Asia Pacific and has over 3,000 permanent employees working out of 400 offices worldwide across more than 30 specialisms.
reedglobal.com enables clients to interact with our recruitment services and jobseekers to search for opportunities across multiple industry sectors around the world. reed.co.uk receives over 1.5 million job applications per month.
Reed is passionate about the environment, has an award-winning environmental programme and continues to maintain its Carbon Neutral (R) status and commitment to being Carbon Responsible.
For further press information please contact
Adrian Linden
PR Manager
Reed Press Office
P: +44 (0)845 241 9249
E: press.office@reedglobal.com
View this article online: http://www.reedpressoffice.co.uk/newsArticle/Finance+Salaries+Fall+By+Up+To+20'25'2C+While+Pay+Rates+For+Interims+Rise/