SlideShare ist ein Scribd-Unternehmen logo
1 von 21
Downloaden Sie, um offline zu lesen
UNITED STATES

TAX &
ACCOUNTING
2011 JOB CANDIDATES


Insights and Analysis from Professionals,
Recruiters and Hiring Managers




Sponsored by:




Brought to you by Monster Intelligence
2




TAX & ACCOUNTING – 2011 JOB CANDIDATES

At a time of high unemployment and low hopes, jobs in the accounting
and auditing fields are expected to grow. Accountants and auditors
should enjoy much faster than average employment growth from 2008
through 2018, according to the Occupational Outlook Handbook 2010-
2011. The predicted growth of 22 percent, or 279,400 new jobs, the
handbook said, will result from “an increase in the number of
businesses, changing financial laws, and regulations, and greater
scrutiny of company finance.”

Employers will remain cautious and believe the recovery will be slow;
they are wary about plans for expansion and hiring. Still, hiring trends                    TABLE OF CONTENTS
are looking more positive and employers with strong capital will be
looking to expand in 2011.                                                                  Hiring Talent in 2011                      3
                                                                                                 Accounting Talent                     3
The best prospects await those with professional licenses, such as the                           Career Talent                         5
CPA credential, according to the U.S. Department of Labor‟s Bureau of                            Education Talent                      5
Labor Statistics, which releases the Occupational Outlook Handbook                               Experienced Talent                    5
every other year.                                                                                Job Search Conditions                 6

Monster leveraged more than 1.2 million Tax & Accounting resumes
                                                                                            Market Conditions                          7
coupled with online job postings for talent across the United States in
                                                                                               Market Overview                         7
order to gain insight into candidates and employers. Data is current
                                                                                               Online Recruitment Trends               9
through December 2010 unless otherwise noted. Additionally, Monster
                                                                                               Recruitment Activity                   10
surveyed active Tax & Accounting (referred to in this report as simply
                                                                                               Hiring Conditions                      11
Accounting) professionals, HR professionals and hiring managers to
present a snapshot of activity within the United States on Monster. The
surveys were conducted between November and December 2010.                                  Supply and Demand Analysis                12
                                                                                               Labor Performance Matrix               14
                                                                                               Career Level Requirements              16
About the Sponsor:                                                                             Education Level Requirements           16
                                                                                               Experience Requirements                16
                                                                                               Job Type Requirements                  17
                                                                                               Job Status Requirements                17
                                                                                               Qualifications and Benefits            18
Ajilon Finance - Ajilon Finance is a leader in specialized financial                           Compensation                           19
staffing and recruitment. We place premier accounting, financial and
bookkeeping professionals in temporary and direct-hire positions. In                        Conclusion                                20
addition, we also provide a wide range of finance consulting solutions
to companies on a project or interim basis, including senior-level                          Monster Intelligence                      20
financial and operations expertise. Please visit www.ajilonfinance.com
for more information.




Accounting Principals - Accounting Principals is a leader in the
recruitment and placement of accounting and finance professionals.
Accounting Principals offers a complete range of workforce solutions in
accounting, finance, mortgage and banking through our nationwide
branch network and team of experienced professionals. For more
information, please visit www.accountingprincipals.com.

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
3




HIRING TALENT IN 2011

Accounting Talent                                                               Skills
The following data analyzes the supply (resumes) of tax                         Listed in the chart below are the top skills made
and accounting professionals on Monster nationwide. It                          available by accounting candidates on their
provides a current picture of key Accounting job seeker                         Monster accounts. The list is full of technical skills,
availability in the United States.                                              including computer skills, software packages, and
                                                                                accounting-related terms. The most popular soft
Listed among the nine Accounting occupations                                    skills include Communications and Leadership,
reviewed, the top two occupations in supply across the                          mentioned in over 8 percent of accounts, as well as
nation accounted for more than one-half (59 percent) of                         Problem Solving.
the candidates.


  Financial Analysts - 31%




  Accountants and Auditors - 28%




  Bookkeeping, Accounting, and Auditing Clerks -19%




  Bill and Account Collectors - 7%




  Accounting/Tax Managers - 5%




  Loan Officers - 4%




  Cost Estimators - 3%




  Tax Examiners/Revenue Agents - 2%




  Budget Analysts - 1%



Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
4




In a recent Monster survey of more than 600 Accounting professionals and 140 employers, respondents were asked
“Which of the following "hard" skills are most in supply/demand when looking for the ideal accounting job/candidate?”
Hard skills are technical requirements of a job or activity that are teachable, often requiring on-the-job training or more
formal education such as that provided by a college or university.

Key Accounting hard skills referenced by more than 40 percent of employer respondents included Microsoft products,
GAAP, and CPA. More than 40 percent of professional respondents cited the same skills as critical to their career.




Similarily, Accounting professionals and employers were asked “Which of the following “soft” skills are most in
supply/demand when looking for the ideal accounting job/candidate?”

Accounting professionals and employers agree that Problem Solving is a key success factor (more than 50 percent of
respondents) however, employers also view Work Ethic, Dependability, Self-Confidence, Communication, Ability to
Work Under Pressure, Teamwork, and Initiative skills as critical as well, whereas employees find these skills less
imperative to the job (fewer than 50 percent of respondents).




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
5




The charts below give a detailed profile of Accounting job seekers found on Monster including career experience,
education level and work experience. Accounting candidates found on Monster are typically mid-career with at least a
bachelor‟s degree and more than five years of experience.

Career Talent
Forty-nine percent of Accounting job seekers in 2011 are mid-                                          Career Level
career. Twenty-five percent are managers or above while 26
                                                                                                  Student         Executive
percent are emerging into today‟s workforce.                                                        9%               3%
                                                                                                                                   Manager
                                                                                   Entry Level
                                                                                                                                    22%
                                                                                      17%




                                                                                                                                    Mid Career
                                                                                                                                       49%



Education Talent
Sixty-three percent of Accounting job seekers in 2011 have at                                         Education Level
least a bachelor‟s degree. Twenty-four percent have an
                                                                                                          Certification
Associate degree or some-college.
                                                                                                          -Vocational         Masters or
                                                                                        High School           4%               Above
                                                                                            9%                                  18%


                                                                               Associate/
                                                                                Some-
                                                                                College
                                                                                 24%

                                                                                                                                      Bachelors
                                                                                                                                        45%




Experienced Talent
The majority (59 percent) of Accounting job seekers have                                     Years of Work Experience
more than five years of work experience. The second largest
group has two to five years of experience (22 percent).                        More than 15 Years

                                                                                   10+ to 15 Years

                                                                                    7+ to 10 Years

                                                                                     5+ to 7 Years

                                                                                     2+ to 5 Years

                                                                                     1+ to 2 Years

                                                                                  Less than 1 Year


                                                                                                     0%      5%      10% 15% 20% 25%




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
6




Job Search Conditions
The primary reason Accounting professionals are looking for a job is due to layoffs, which shows that despite
improvements in the economy, uncertainly still exists. The second most popular response was re-entry into the
workforce. With the uncertainty of the economy many stay at home mom‟s, retired individuals, and those unemployed
for extended periods of time are seeking re-entry into the workforce.

The top four reasons Accounting professionals are searching for a job include:

    1.   Layoffs occurring/occurred (29 percent)
    2.   Re-entering the workforce (16 percent)
    3.   Salary is not as desired (15 percent)
    4.   Limited or no potential for upward mobility (12 percent)

Factors less likely to drive candidates to look for a job were „relationship with a peer/manager‟.

Accounting professionals report that they are
somewhat finding success in meeting their
expectations and requirements. Forty-one percent are
finding „Good‟ to „Excellent‟ conditions, which is
slightly encouraging news in this rebounding sector.

Those respondents that reported „Average‟ to „Poor‟
conditions were asked “What makes it challenging
looking for a job”. The two primary reasons job
seekers had a difficult time finding accounting
positions were „getting an employer or recruiter to
contact them‟, „too few jobs‟ and „finding a job that
matches what they want (e.g., salary, locations, etc.)‟.

From Monster‟s recent survey to Accounting
professionals, the majority of respondents (65
percent) are most comfortable with going to online job
boards to search for opportunities and post their
resume.




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
7




Market Conditions

After experiencing a dip the past couple of years, Accounting professions have reported encouraging signs of expansion
as well as a greater balance in its talent demand versus talent supply.

Market Overview
Following the corporate scandals in the 1990s, the Tax and Accounting profession flourished as accountants were in
demand to audit firms, uncover discrepancies, and help companies adhere to the rush of new regulations. In some
occupations, demand exceeded supply. The economic downturn over the past few years has stabilized the equation as
accounting firms were forced to cut costs and downsize.

A recent report of the top 100 Tax and Accounting firms confirms the ill effects of the weak economy. Total revenue of
the top 100 companies dropped 2.85%, the first ever decline in the 23 years that this report has been compiled. Not only
did revenues decline, but employees as well. As seen in the chart below, total employees in the top 100 fell by 2.3%,
while the smaller firms reported modest expansion. On a positive note, the number of employed partners increased
                1
4.9% to 16,945.

                                                                           2009           % of Total       % Change
                                                                        Employment                          2008-09

                      Top 6 Tax and Accounting firms                       135,777            72%             -3.0%
                      Firms over $100 million in revenue                    30,707            16%             -1.4%
                      Firms under $100 million in revenue                   22,000            12%            +0.9%
                      TOTAL Top 100 Tax and Accounting firms               188,484           100%             -2.3%



Seeing further signs of hope, a majority of smaller regional firms have expanded their accounting operations. These
firms typically focused on niches likely to do well in tough times, helped with bankruptcies, and assisted clients in
surviving the recession.

Going forward, accounting firms are gearing up for a slow recovery by creating new practice units, improving
communication and client retention, and increasing marketing and sales efforts.

The Bureau of Labor Statistics predicts the top two accounting roles, as seen on the next page, will increase by 15%
over the next decade. Both roles rank in the top twenty U.S. occupations adding the most new jobs by 2018;
Bookkeeping, Accounting and Auditing Clerks are estimated to grow by 212,400 while Accountants and Auditors are
forecasted to rise by 279,400.




1
    Accounting Today‟s “Top 100 Firms 2010”

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
8




The top two Accounting roles are listed below.

                        Occupation (Employment in thousands)                  2008      Projected       % Change
                                                                                          2018           2008-18

                        Bookkeeping, Accounting, and Auditing                2,063.8      2,276.2          +10%
                        Clerks
                        Accountants and Auditors                             1,290.6      1,570.0          +22%
                        TOTAL                                                3,354.4      3,846.2          +15%



Factors leading to the need for more bookkeepers and accountants include the continued expansion of the number of
businesses, further globalization, evolving tax standards (including the International Financial Reporting Standards), and
stricter financial laws and regulations.

In order to meet recruiters growing demand, the Accounting sector will need to continue to recruit a strong pipeline of
candidates as well as successfully develop senior accounting teachers, which has been a challenge in the past, in order
to train the rising professionals. Recovery will be slow and employers will remain cautious.

In fact, a recent survey of more than 150 Accounting recruiters and hiring managers at Monster were asked “How many
accounting positions do they intend to fill in the next six months” and “What percent of the accounting positions they
expect to fill are new openings vs. replacement positions”. A majority of those hiring in the next six months are filling a
limited numbers of roles (84 percent plan to hire less than ten positions) and very limited new roles (52 percent plan that
less than ten percent of positions will be new).




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
9




Online Recruitment Trends
The Monster Employment Index (MEI) is a leading indicator of labor market trends as it tracks online recruitment activity
by location, occupation, and industry. As seen below, each of the three indices noted here (National, Business &
Financial Operations, and Office & Administrative) have reported relatively stable trends in 2010.
     The Business & Financial Operations MEI follows job postings for occupations such as accountants, budget
         analysts, loan officers, and tax examiners. The index has gained 34 percent (+39 points) since its low point in
         July 2009.
     The Business & Financial Operations trends are more positive than the National, as the U.S. MEI fell 3 percent
         (+4) in December while Business & Financial Operations rose 3% (+5) compared to a year ago.
     The Office & Administrative MEI is another occupation metric, trending jobs for financial clerks as well as for
         non-accounting roles such as customer service representatives, desktop publishers, and file clerks. The index
         has historically trailed both the U.S. and Business & Financial Operations indices. Most recent results have
         been slightly down, the December index dropped 9 percent (-9) from November and decreased 2 percent (-2)
         year-over-year. The index also hit its low point in July 2009.




        The Monster Employment Index presents a monthly snapshot of employer online recruitment activity nationwide for 28 of the
        largest metro areas, and is generally regarded as a key indicator of demand in the labor market. The Index is based on a real -
        time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and
        job boards, including Monster. Using a baseline value of 100, the Index can be used to compare hiring trends across local
        markets and occupational groups. As such, a higher Index figure means stronger growth in online job availability.




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
10




Accounting-like occupations within both the Accounting & Tax Preparation segments across all major online job boards
                                                               2
have reported positive expansion following two difficult years. Job postings in 2008 fell 13 percent and in 2009
dropped a steep 51 percent. Postings were negative in January, February, and July of 2010, but were positive the rest
of the year resulting in a 13 percent gain for the year.




Recruitment Activity
On Monster, the vast majority (99 percent) of job postings from Accounting and Tax employers are provided by
Accounting, Auditing, and Bookkeeping firms. Tax Return Services accounted for fewer than 1 percent of all Accounting
job postings.

The types of roles Accounting companies posted over the past year include roles primarily for Business/Strategic
Management (35 percent), Accounting/Finance/Insurance (14 percent), and Medical/Health (13 percent).

Financial Services Job Postings by Category                                                                          % Total Job Postings

Business/Strategic Management                                                                                                    35%
Accounting/Finance/Insurance                                                                                                     14%
Medical/Health                                                                                                                   13%
IT/Software Development                                                                                                            7%
Human Resources                                                                                                                    6%
Engineering                                                                                                                        4%
Security/Protective Services                                                                                                       3%
Logistics/Transportation)                                                                                                          2%
Administrative/Clerical                                                                                                            2%
Sales/Retail/Business Development                                                                                                  2%
All Other                                                                                                                        11%




2
    Wanted Technologies, New Online Ads, Dec ‟08-Dec‟10

Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
11




Hiring Conditions
Monster recruiters surveyed predict filling Accounting roles will move fairly quickly. Nearly half (44 percent) of
respondents expect opportunities to take less than 30 days to fill a position and 43 percent predict each opportunity will
take an average of 31 to 60 days. 13 percent plan for more than 60 days.

 With the excess of candidates looking for work, it is no
surprise that recruiters are having a relatively easy time
finding qualified candidates. 75 percent of respondents
said their ability to find Accounting candidates was
“Good” to “Excellent”.

Those few respondents that reported „Average‟ to „Poor‟
conditions were asked “What makes it hard to find
candidates”. The primary reason recruiters and hiring
managers had a difficult time recruiting for accounting
positions was „an increased workload‟.

When looking at the challenges of the candidates
themselves, responses were few, but some hirers did
note there were „under qualified candidates‟, „not
enough candidates‟, and „overqualified candidates‟.

Recruiters noted the top five Accounting areas with planned hiring include:

    1.   Accounts Receivable/Payable (55 percent)
    2.   Reporting (44 percent)
    3.   Audit (34 percent)
    4.   Tax (33 percent)
    5.   Compliance (32 percent)

From Monster‟s recent survey to Accounting recruiters and hiring managers, most respondents (79 percent) are most
comfortable with going to online job boards to source candidates.




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
12




Supply and Demand Analysis
A comparison of Monster Job Seekers seeking employment in the Accounting and Auditing segment compared to the
volume of job postings from Accounting and Tax companies reveals higher supplies of candidates than in other U.S.
states in areas such as Montana, Idaho, and South Carolina denoted by the darker green areas in the map below.
Recruitment for candidates in lighter green areas such as Vermont, Virginia, and Connecticut may be more competitive
where the ratio of resumes per job posting is lower than in other areas nationwide.




The types of roles these candidates are seeking span a wide range of areas with the highest volume targeting
Accounting/Finance/Insurance opportunities followed closely by Administrative/Clerical.

Financial Services Job Seekers by Category                                                                           % Total Job Postings

Accounting/Finance/Insurance                                                                                                     30%
Administrative/Clerical                                                                                                          20%
Customer Support/Client Care                                                                                                       7%
Human Resources                                                                                                                    5%
Banking/Real Estate/Mortgage Professionals                                                                                         5%
Business/Strategic Management                                                                                                      4%
Sales/Retail/Business Development                                                                                                  4%
IT/Software Development                                                                                                            3%
Medical/Health                                                                                                                     2%
Project/Program Management                                                                                                         2%
All Other                                                                                                                        18%


Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
13




The remainder of this report will focus on key Accounting professions and how supply and demand measures up when
recruiting for this multifaceted talent pool.




                   1. Financial Analysts, 31%                                                  1. Accountants and Auditors, 33%




                                                                              Employers
  Job Seekers




                   2. Accountants and Auditors, 28%                                            2. Financial Analysts, 20%
                   3. Bookkeeping, Accounting, and                                             3. Bookkeeping, Accounting, and
                      Auditing Clerks, 19%                                                        Auditing Clerks, 14%
                   4. Bill and Account Collectors, 7%                                          4. Accounting/Tax Managers, 9%
                   5. Accounting/Tax Managers, 5%                                              5. Bill and Account Collectors,8%
                   6. Loan Officers, 4%                                                        6. Loan Officers, 5%
                   7. Cost Estimators, 3%                                                      7. Cost Estimators, 5%
                   8. Tax Examiners/Revenue Agents, 2%                                         8. Tax Examiners/Revenue Agents, 5%
                   9. Budget Analysts, 1%                                                      9. Budget Analysts, 1%

                                    ●    ●     ●                                                                  ●   ●    ●




The supply and demand for Financial Analysts and Accountants/Auditors lead activity for this sector with more than half
of job seeker and recruiter activity for this segment. Thirty-one percent of the talent pool and 20 percent of opportunities
are for Financial Analysts. Twenty-eight percent of the talent pool and 33 percent of opportunities are for Accountants
and Auditors. There may be a slight advantage towards hiring Financial Analysts.

Listed below are the top 20 out of over 140 Accounting job titles in which job seekers are interested. These 20 job titles
accounted for 74 percent of the Accounting talent.

     #                              Job Titles (1-10)                     #                                 Job Titles (11-20)

          1     Financial Analyst                                         11              Accounting Manager
          2     Accountant                                                12              Financial Analyst - Operations
          3     Staff Accountant                                          13              Sr. Financial Analyst
          4     Call Center Representative - Financial Services           14              Accounting Clerk III
          5     Accounting Clerk                                          15              Finance Manager
          6     Bookkeeper                                                16              Accounts Receivable Clerk
          7     Medical Billing Clerk                                     17              Investment Specialist
          8     Sr. Accountant                                            18              Budget Accounting Clerk
          9     Accounts Payable Clerk                                    19              Cost Accountant
    10          Reserves Analyst                                          20              Bill Collector



Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
14




In reviewing the top 20 (out of more than 140 titles) Accounting job titles posted on Monster.com from January 2010 to
December 2010, the first three (Senior Accountant, Financial Analyst, and Staff Accountant) each accounted for a
seven percent share of all job postings. The top 20 specific Accounting job titles are listed below and account for 65
percent of the Accounting opportunities.

  #                           Job Titles (1-10)                           #                        Job Titles (11-20)

      1   Sr. Accountant                                                  11    Medical Billing Clerk
      2   Financial Analyst                                               12    Accounts Receivable Clerk
      3   Staff Accountant                                                13    Tax Manager
      4   Accounts Payable Clerk                                          14    Auditor
      5   Accountant                                                      15    Finance Manager
      6   Sr. Financial Analyst                                           16    Assistant Controller
      7   Cost Accountant                                                 17    Sr. Tax Accountant
      8   Accounting Manager                                              18    Credit Card Collections Specialist
      9   Accounting Clerk                                                19    Investment Specialist
   10     Bookkeeper                                                      20    Bill Collector




  Labor Performance Matrix
  The Labor Performance Matrix below and on the next page compares job posting and resume performance within
  the Accounting occupation clusters.

  The size of the circle represents the supply, based on the ratio of resumes per job from January 2010 through
  December 2010. A large circle indicates a large pool of talent in comparison to the demand, and a smaller circle
  represents areas where the demand may outweigh the supply.


  How to Read the Matrix:
  Talent Surplus
  Not enough jobs to match supply
  Plan for increased volume of candidates
  Focus on skills migration

  Incubator Opportunities (Growth Areas)
  High growth potential

  High Performance
  High growth in jobs and talent
  Focus on keeping talent

  Talent Shortage
  Not enough talent to meet demand
  At risk for competition




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
15




Talent Surplus
Bookkeeping, Accounting, and Auditing Clerks is the only occupation in the Talent Surplus quadrant when compared to
other Accounting occupations, showing less job opportunities to meet job seeker needs. Recruiters need to plan for
additional time and resources to help screen increased volumes of candidates and could consider retraining or other
workplace development programs to ensure the surplus of candidates are put to work.

Incubator Opportunities (Growth Areas)
The growth occupations span a wide range of Accounting occupations. These areas are prime for candidate and/or job
opportunity expansion.

High Performance
There are two occupations in the high performance quadrant: Financial Analysts, and Accountants and Auditors. There
is an ample supply of both job postings and seeker resumes for these occupations.

Talent Shortage
There are no occupations in the Talent Shortage area, showing the current surplus of talent – and lack of job
opportunities - in the Accounting sector.

The matrix below summarizes occupational supply and demand from January 2010 through December 2010.




                                           Talent Surplus                      High Performance Zone
                                           Incubator Zone                           Talent Shortage




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
16




In the following analysis, we compare talent demand (job postings) with talent supply (resumes) across a range of
characteristics for key Accounting occupations. The comparisons reveal the similarities and disparities between the
available jobs and the searching seekers. This analysis provides direction for recruiters and employers in setting their
expectations and development areas.

Career Level
A steep 92 percent of job postings are for mid-career
talent compared with 49 percent of new resumes. Due to
this imbalance, recruiters may need to be flexible in their
career requirement, either finding under or over-qualified
candidates.
.




Education Level
Accounting recruiters are concentrated in searching for
candidates with at most a Bachelor‟s Degree (76 percent).
Though the talent supply pool is a fairly educated group,
as 63 percent have at least a Bachelor‟s Degree, recruiters
could be challenged to fill roles as many seekers are either
under or over-qualified.




Experience level
Similar to the other metrics, candidates are spread among
the categories while job postings are relatively
concentrated. A high 41 percent of job opportunities are
for candidates with 2 to 5 years of experience compared to
the 22 percent of available seekers. Some recruiters will
need to settle on candidates with more years of
experience than desired which may lead to higher
compensation for talent.




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
17




Job Type Requirements
While Accounting job opportunities are primarily for permanent roles (67 percent), a much larger share (80 percent) of
job seekers desire this type of work. The remaining 33 percent of job postings are for temporary/contract work; this
relatively high percentage indicates companies are hiring cautiously as the industry and economy recover. Recruiters
will most likely be encouraging candidates to settle for temporary/contract roles rather than their desired permanent role.




Job Status Requirements
Ninety-nine percent of job postings are for full-time employment and only 1 percent for part-time, while 83 percent of
candidates are open to full-time employment and 16 percent for either. Employers should have an ample pool of talent
to meet their needs within these criteria.




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
18




Qualifications and Benefits
As employers look through reams of resumes, the most important qualifications Accounting professionals place the
greatest importance on when applying for opportunities is years of work experience (77 percent) and type(s) of work
experience (70 percent) followed by soft skills/business knowledge (47 percent). Recruiters on the other hand value
education when filtering through Accounting candidates. When asked “What were the most important qualifications in
recruiting accounting talent”, hirers responded education (58 percent) and advanced degree (55 percent) followed
closely by examples of work (54 percent) and soft skills/business knowledge (45 percent).




Listed below are the most important factors Accounting professionals consider when evaluating a job opportunity. Note
that these characteristics have been influenced by the recessionary economy and corporate scandals over the past few
years, as „stability of position‟ and „company‟s reputation‟ rank in first and third, respectively.

Recruiters were also asked how they would rate the same list of factors in terms of their importance to recruiting talent.
The top three items were the same, though ordered: salary, stability of position, and company‟s reputation.




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
19




Compensation
Compensation expectations for recruiters and candidates are in fairly close alignment giving encouragement that
recruiters can easily satisfy a potential recruit‟s salary expectations. The median salary offered in 2010 was $63,000
and the median salary candidates were seeking was $50,000. (Please note these salary requirements may represent
total compensation for some job seekers and only a base salary for others.)

The majority (fifty-four percent) of Accounting job postings on Monster offer a salary ranging from $40-80,000 (twenty-
five percent, $40-60,000; twenty-nine percent, $60-80,000). On the other hand, most (sixty-six percent) job seekers
expect to earn between $20-60,000 (thirty-two percent, $20-40,000; thirty-four percent, $40-60,000).




The most significant disparity is at $60,000, where a higher percentage of employers offer greater salaries than
candidates are requiring. Sixty-eight percent of Accounting job seekers expect to earn less than $60,000 though only
fifty-three percent of employers plan to offer less than $60,000.




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
20




Diversify Your Recruitment Strategy in 2011
As the nation emerges Recruiters should keep in mind the following points when planning for the next 12-months.

Network to strengthen your brand: Networking has always been a fundamental aspect of establishing a presence
and sourcing candidates. Today's recruiters must actively network across the Internet to get a more holistic view of the
applicant. With Monster’s 20 network communities integrated into its core site, experts are better able to help individuals
access advice from industry experts and keep on top of trends. These communities also offer employers access to a
pool of targeted candidates.
Play a smart matching game. Have processes and paper work in place, be diligent about screening, and communicate
frequently with hiring managers. Many recruiters are using technology to help quickly match candidates to jobs and
eliminate unqualified applicants. Monster’s semantic 6Sense™ search technology powers our Power Resume Search
application, sorting and ranking candidates so the best are at the top. Using these types of sorting programs, recruiters
save time and money sourcing candidates that precisely match their positions.
Spend accordingly. As budget managers remain cautious, leverage as many benefits as possible that attract and
retain employees yet require minimal investment. Keep on top of what is most important to job seekers by leveraging
Monster’s free online resources at the Resource Center (http://hiring.monster.com.) The site offers actionable reports
and webinars covering the most current issues facing not only job seekers, but recruiters as well.

Monster intelligence
As the premier digital employment solution, Monster has consistently maintained a leadership position in defining and
driving innovative products and services to champion digital recruitment. We see tremendous value in providing our
clients, the online recruitment industry, and the public at large with analysis on both job seeker and employer behaviors,
as well as general employment market trends. In direct response to our customers‟ needs for strategic human capital
intelligence, Monster created an initiative, entitled Monster Intelligence, that is focused on providing business leaders
and HR Executives real-time insight into market trends that will guide them in future recruitment planning.

As a market leader, Monster is uniquely positioned to provide strategic information on employment trends to Corporate
Executives and Hiring Managers. These tools provide our customers with views into the labor market and
comprehensive information to further their employment strategy.

More details are available at the Monster Resource Center at: http://hiring.monster.com/hr/hr-best-practices.aspx. We
welcome your insight and comments on the monster intelligence reports and encourage you to let us know your
thoughts by providing feedback at Intelligence@monster.com

Monster is the primary source of information for this report; it should only be interpreted as a definitive activity report on
Monster and its subsidiaries. Monster‟s in-depth data-driven approach improves on typical survey-based methodologies
by dramatically increasing the depth and breadth of information collected as well as by capturing actual behavior rather
than intended behavior. Data is current through December, 2010 unless otherwise indicated.




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.
21




Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or
transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of
Monster, Inc.

Weitere ähnliche Inhalte

Was ist angesagt?

Jobs, Skills and Salaries: Trends across India
Jobs, Skills and Salaries: Trends across IndiaJobs, Skills and Salaries: Trends across India
Jobs, Skills and Salaries: Trends across Indiavaluvox
 
Employment Outlook - October 2014-March 2015
Employment Outlook - October 2014-March 2015Employment Outlook - October 2014-March 2015
Employment Outlook - October 2014-March 2015valuvox
 
Sei china-2013-preview
Sei china-2013-previewSei china-2013-preview
Sei china-2013-previewJennifer Yu
 
Financial Graphical Disclosures
Financial Graphical DisclosuresFinancial Graphical Disclosures
Financial Graphical DisclosuresUdit Jain
 
China IPO CFO Report - July 2015 - Final
China IPO CFO Report - July 2015 - FinalChina IPO CFO Report - July 2015 - Final
China IPO CFO Report - July 2015 - FinalRachel Ouyang
 
A REPORT ON FINANCIAL ANALYSIS OF DABUR AND BRITANNIA
A REPORT ON FINANCIAL ANALYSIS OF DABUR AND BRITANNIAA REPORT ON FINANCIAL ANALYSIS OF DABUR AND BRITANNIA
A REPORT ON FINANCIAL ANALYSIS OF DABUR AND BRITANNIAM Diable
 
2019 FinTech Staffing Trends Report
2019 FinTech Staffing Trends Report2019 FinTech Staffing Trends Report
2019 FinTech Staffing Trends ReportEvgeniGeorgiev6
 
DCR TrendLine January 2014 – Contingent Worker Forecast and Supply Report
DCR TrendLine January 2014 – Contingent Worker Forecast and Supply ReportDCR TrendLine January 2014 – Contingent Worker Forecast and Supply Report
DCR TrendLine January 2014 – Contingent Worker Forecast and Supply Reportss
 
Morgan McKinley’s 2011 Salary Guide
Morgan McKinley’s 2011 Salary GuideMorgan McKinley’s 2011 Salary Guide
Morgan McKinley’s 2011 Salary GuideMorgan McKinley
 
APAC PT Salary Guide 2012
APAC PT Salary Guide 2012APAC PT Salary Guide 2012
APAC PT Salary Guide 2012Kelly Services
 
DCR Trendline December 2014 Non Employee Workforce Insight
DCR Trendline December 2014 Non Employee Workforce InsightDCR Trendline December 2014 Non Employee Workforce Insight
DCR Trendline December 2014 Non Employee Workforce Insightss
 
Malaysia salary guide 2013-2014
Malaysia salary guide  2013-2014Malaysia salary guide  2013-2014
Malaysia salary guide 2013-2014Leong Chuan
 
Salary guide 2011-2012
Salary guide 2011-2012Salary guide 2011-2012
Salary guide 2011-2012Leong Chuan
 
The TeamLease Employment Outlook Report - Oct-Mar, 2015-16
The TeamLease Employment Outlook Report - Oct-Mar, 2015-16 The TeamLease Employment Outlook Report - Oct-Mar, 2015-16
The TeamLease Employment Outlook Report - Oct-Mar, 2015-16 valuvox
 
Jobs and Salaries Primer - 2016
Jobs and Salaries Primer - 2016Jobs and Salaries Primer - 2016
Jobs and Salaries Primer - 2016valuvox
 
Comparative Analysis of Financial Statement Of IT industries
 Comparative Analysis of Financial Statement OfIT industries Comparative Analysis of Financial Statement OfIT industries
Comparative Analysis of Financial Statement Of IT industriesPranav Veerani
 
Shah's Favorite Retail Specialists_MIS347_Sec900_Final Proposal
Shah's Favorite Retail Specialists_MIS347_Sec900_Final ProposalShah's Favorite Retail Specialists_MIS347_Sec900_Final Proposal
Shah's Favorite Retail Specialists_MIS347_Sec900_Final ProposalFanghong Lu
 
payscales-2016-compensation-best-practices-report
payscales-2016-compensation-best-practices-reportpayscales-2016-compensation-best-practices-report
payscales-2016-compensation-best-practices-reportChris Bennett
 

Was ist angesagt? (20)

Recruiting
RecruitingRecruiting
Recruiting
 
Jobs, Skills and Salaries: Trends across India
Jobs, Skills and Salaries: Trends across IndiaJobs, Skills and Salaries: Trends across India
Jobs, Skills and Salaries: Trends across India
 
Employment Outlook - October 2014-March 2015
Employment Outlook - October 2014-March 2015Employment Outlook - October 2014-March 2015
Employment Outlook - October 2014-March 2015
 
Sei china-2013-preview
Sei china-2013-previewSei china-2013-preview
Sei china-2013-preview
 
Financial Graphical Disclosures
Financial Graphical DisclosuresFinancial Graphical Disclosures
Financial Graphical Disclosures
 
China IPO CFO Report - July 2015 - Final
China IPO CFO Report - July 2015 - FinalChina IPO CFO Report - July 2015 - Final
China IPO CFO Report - July 2015 - Final
 
A REPORT ON FINANCIAL ANALYSIS OF DABUR AND BRITANNIA
A REPORT ON FINANCIAL ANALYSIS OF DABUR AND BRITANNIAA REPORT ON FINANCIAL ANALYSIS OF DABUR AND BRITANNIA
A REPORT ON FINANCIAL ANALYSIS OF DABUR AND BRITANNIA
 
Salary Guide Malaysia
Salary Guide MalaysiaSalary Guide Malaysia
Salary Guide Malaysia
 
2019 FinTech Staffing Trends Report
2019 FinTech Staffing Trends Report2019 FinTech Staffing Trends Report
2019 FinTech Staffing Trends Report
 
DCR TrendLine January 2014 – Contingent Worker Forecast and Supply Report
DCR TrendLine January 2014 – Contingent Worker Forecast and Supply ReportDCR TrendLine January 2014 – Contingent Worker Forecast and Supply Report
DCR TrendLine January 2014 – Contingent Worker Forecast and Supply Report
 
Morgan McKinley’s 2011 Salary Guide
Morgan McKinley’s 2011 Salary GuideMorgan McKinley’s 2011 Salary Guide
Morgan McKinley’s 2011 Salary Guide
 
APAC PT Salary Guide 2012
APAC PT Salary Guide 2012APAC PT Salary Guide 2012
APAC PT Salary Guide 2012
 
DCR Trendline December 2014 Non Employee Workforce Insight
DCR Trendline December 2014 Non Employee Workforce InsightDCR Trendline December 2014 Non Employee Workforce Insight
DCR Trendline December 2014 Non Employee Workforce Insight
 
Malaysia salary guide 2013-2014
Malaysia salary guide  2013-2014Malaysia salary guide  2013-2014
Malaysia salary guide 2013-2014
 
Salary guide 2011-2012
Salary guide 2011-2012Salary guide 2011-2012
Salary guide 2011-2012
 
The TeamLease Employment Outlook Report - Oct-Mar, 2015-16
The TeamLease Employment Outlook Report - Oct-Mar, 2015-16 The TeamLease Employment Outlook Report - Oct-Mar, 2015-16
The TeamLease Employment Outlook Report - Oct-Mar, 2015-16
 
Jobs and Salaries Primer - 2016
Jobs and Salaries Primer - 2016Jobs and Salaries Primer - 2016
Jobs and Salaries Primer - 2016
 
Comparative Analysis of Financial Statement Of IT industries
 Comparative Analysis of Financial Statement OfIT industries Comparative Analysis of Financial Statement OfIT industries
Comparative Analysis of Financial Statement Of IT industries
 
Shah's Favorite Retail Specialists_MIS347_Sec900_Final Proposal
Shah's Favorite Retail Specialists_MIS347_Sec900_Final ProposalShah's Favorite Retail Specialists_MIS347_Sec900_Final Proposal
Shah's Favorite Retail Specialists_MIS347_Sec900_Final Proposal
 
payscales-2016-compensation-best-practices-report
payscales-2016-compensation-best-practices-reportpayscales-2016-compensation-best-practices-report
payscales-2016-compensation-best-practices-report
 

Andere mochten auch

Talent Acquisition With Online Social Networks And Communities
Talent Acquisition With Online Social Networks And CommunitiesTalent Acquisition With Online Social Networks And Communities
Talent Acquisition With Online Social Networks And CommunitiesMonster
 
Selecting Candidates for Engagement and Retention
Selecting Candidates for Engagement and RetentionSelecting Candidates for Engagement and Retention
Selecting Candidates for Engagement and RetentionMonster
 
2011 New York City Job Market Report | Monster.com
2011 New York City Job Market Report | Monster.com2011 New York City Job Market Report | Monster.com
2011 New York City Job Market Report | Monster.comMonster
 
2011 Engineering Jobs & Careers Report
2011 Engineering Jobs & Careers Report2011 Engineering Jobs & Careers Report
2011 Engineering Jobs & Careers ReportMonster
 
How To Increase Your Culture of Employee Engagement
How To Increase Your Culture of Employee EngagementHow To Increase Your Culture of Employee Engagement
How To Increase Your Culture of Employee EngagementMonster
 
Virtually Speaking: Career Fairs Go Online
Virtually Speaking: Career Fairs Go OnlineVirtually Speaking: Career Fairs Go Online
Virtually Speaking: Career Fairs Go OnlineMonster
 
10 Inspirational Veterans Quotes
10 Inspirational Veterans Quotes10 Inspirational Veterans Quotes
10 Inspirational Veterans QuotesMonster
 
Plsql coding conventions
Plsql coding conventionsPlsql coding conventions
Plsql coding conventionsFang Yu
 
10 Tips to Improve the Quality of Your Networking
10 Tips to Improve the Quality of Your Networking10 Tips to Improve the Quality of Your Networking
10 Tips to Improve the Quality of Your NetworkingMonster
 
Navigating Semantic Search
Navigating Semantic SearchNavigating Semantic Search
Navigating Semantic SearchMonster
 

Andere mochten auch (10)

Talent Acquisition With Online Social Networks And Communities
Talent Acquisition With Online Social Networks And CommunitiesTalent Acquisition With Online Social Networks And Communities
Talent Acquisition With Online Social Networks And Communities
 
Selecting Candidates for Engagement and Retention
Selecting Candidates for Engagement and RetentionSelecting Candidates for Engagement and Retention
Selecting Candidates for Engagement and Retention
 
2011 New York City Job Market Report | Monster.com
2011 New York City Job Market Report | Monster.com2011 New York City Job Market Report | Monster.com
2011 New York City Job Market Report | Monster.com
 
2011 Engineering Jobs & Careers Report
2011 Engineering Jobs & Careers Report2011 Engineering Jobs & Careers Report
2011 Engineering Jobs & Careers Report
 
How To Increase Your Culture of Employee Engagement
How To Increase Your Culture of Employee EngagementHow To Increase Your Culture of Employee Engagement
How To Increase Your Culture of Employee Engagement
 
Virtually Speaking: Career Fairs Go Online
Virtually Speaking: Career Fairs Go OnlineVirtually Speaking: Career Fairs Go Online
Virtually Speaking: Career Fairs Go Online
 
10 Inspirational Veterans Quotes
10 Inspirational Veterans Quotes10 Inspirational Veterans Quotes
10 Inspirational Veterans Quotes
 
Plsql coding conventions
Plsql coding conventionsPlsql coding conventions
Plsql coding conventions
 
10 Tips to Improve the Quality of Your Networking
10 Tips to Improve the Quality of Your Networking10 Tips to Improve the Quality of Your Networking
10 Tips to Improve the Quality of Your Networking
 
Navigating Semantic Search
Navigating Semantic SearchNavigating Semantic Search
Navigating Semantic Search
 

Ähnlich wie 2011 Tax & Accounting Job Market

2011 Washington, DC Job Conditions Report
2011 Washington, DC Job Conditions Report2011 Washington, DC Job Conditions Report
2011 Washington, DC Job Conditions ReportMonster
 
2011 Dallas Job Conditions Report
2011 Dallas Job Conditions Report2011 Dallas Job Conditions Report
2011 Dallas Job Conditions ReportMonster
 
2011 Monster.com IT Job Conditions Report
2011 Monster.com IT Job Conditions Report2011 Monster.com IT Job Conditions Report
2011 Monster.com IT Job Conditions ReportMonster
 
2011 Biotech Job Conditions Report
2011 Biotech Job Conditions Report2011 Biotech Job Conditions Report
2011 Biotech Job Conditions ReportMonster
 
How to attract technology talent
How to attract technology talentHow to attract technology talent
How to attract technology talentVMR Consultants
 
The Japan Talent Acquisition Report 2020 - Makana Partners
The Japan Talent Acquisition Report 2020 - Makana PartnersThe Japan Talent Acquisition Report 2020 - Makana Partners
The Japan Talent Acquisition Report 2020 - Makana PartnersYan Sen Lu
 
Robert Half 2019 Salary Guide Singapore
Robert Half 2019 Salary Guide SingaporeRobert Half 2019 Salary Guide Singapore
Robert Half 2019 Salary Guide SingaporeGerald Teoh
 
Payroll_Sector_Industry_Briefing_teaser_24.pdf
Payroll_Sector_Industry_Briefing_teaser_24.pdfPayroll_Sector_Industry_Briefing_teaser_24.pdf
Payroll_Sector_Industry_Briefing_teaser_24.pdfCharles Bedard
 
2010 Contingent Workforce Assessment
2010 Contingent Workforce Assessment2010 Contingent Workforce Assessment
2010 Contingent Workforce AssessmentMonster
 
First Friday Jan 2014
First Friday Jan 2014First Friday Jan 2014
First Friday Jan 2014JCianciolo
 
Ictc hr guide_module_i
Ictc hr guide_module_iIctc hr guide_module_i
Ictc hr guide_module_iSujan Dey
 
Randstad canada-salary-guide-technologies.en
Randstad canada-salary-guide-technologies.enRandstad canada-salary-guide-technologies.en
Randstad canada-salary-guide-technologies.enRandstad Canada
 
26. ratio analysis-ratios-formulae
26. ratio analysis-ratios-formulae26. ratio analysis-ratios-formulae
26. ratio analysis-ratios-formulaeEduPristine
 
Randstad canada-salary-guide-2013-technologies-web.en
Randstad canada-salary-guide-2013-technologies-web.enRandstad canada-salary-guide-2013-technologies-web.en
Randstad canada-salary-guide-2013-technologies-web.enRandstad Canada
 
What Recruiters Want By Consult Shravan
What Recruiters Want By Consult ShravanWhat Recruiters Want By Consult Shravan
What Recruiters Want By Consult ShravanShravan Shetty
 
The TeamLease Industry Salary Primer - 2013
The TeamLease Industry Salary Primer - 2013The TeamLease Industry Salary Primer - 2013
The TeamLease Industry Salary Primer - 2013valuvox
 

Ähnlich wie 2011 Tax & Accounting Job Market (20)

2011 DC Job Outlook
2011 DC Job Outlook2011 DC Job Outlook
2011 DC Job Outlook
 
2011 Washington, DC Job Conditions Report
2011 Washington, DC Job Conditions Report2011 Washington, DC Job Conditions Report
2011 Washington, DC Job Conditions Report
 
2011 Dallas Job Conditions Report
2011 Dallas Job Conditions Report2011 Dallas Job Conditions Report
2011 Dallas Job Conditions Report
 
2011 Monster.com IT Job Conditions Report
2011 Monster.com IT Job Conditions Report2011 Monster.com IT Job Conditions Report
2011 Monster.com IT Job Conditions Report
 
2011 Biotech Job Conditions Report
2011 Biotech Job Conditions Report2011 Biotech Job Conditions Report
2011 Biotech Job Conditions Report
 
Recruiter Investors Presentations 2022
Recruiter Investors Presentations 2022Recruiter Investors Presentations 2022
Recruiter Investors Presentations 2022
 
How to attract technology talent
How to attract technology talentHow to attract technology talent
How to attract technology talent
 
I Risk Salary Survey V1.0
I Risk Salary Survey V1.0I Risk Salary Survey V1.0
I Risk Salary Survey V1.0
 
The Japan Talent Acquisition Report 2020 - Makana Partners
The Japan Talent Acquisition Report 2020 - Makana PartnersThe Japan Talent Acquisition Report 2020 - Makana Partners
The Japan Talent Acquisition Report 2020 - Makana Partners
 
Robert Half 2019 Salary Guide Singapore
Robert Half 2019 Salary Guide SingaporeRobert Half 2019 Salary Guide Singapore
Robert Half 2019 Salary Guide Singapore
 
Payroll_Sector_Industry_Briefing_teaser_24.pdf
Payroll_Sector_Industry_Briefing_teaser_24.pdfPayroll_Sector_Industry_Briefing_teaser_24.pdf
Payroll_Sector_Industry_Briefing_teaser_24.pdf
 
2010 Contingent Workforce Assessment
2010 Contingent Workforce Assessment2010 Contingent Workforce Assessment
2010 Contingent Workforce Assessment
 
First Friday Jan 2014
First Friday Jan 2014First Friday Jan 2014
First Friday Jan 2014
 
Ictc hr guide_module_i
Ictc hr guide_module_iIctc hr guide_module_i
Ictc hr guide_module_i
 
Randstad canada-salary-guide-technologies.en
Randstad canada-salary-guide-technologies.enRandstad canada-salary-guide-technologies.en
Randstad canada-salary-guide-technologies.en
 
26. ratio analysis-ratios-formulae
26. ratio analysis-ratios-formulae26. ratio analysis-ratios-formulae
26. ratio analysis-ratios-formulae
 
Randstad canada-salary-guide-2013-technologies-web.en
Randstad canada-salary-guide-2013-technologies-web.enRandstad canada-salary-guide-2013-technologies-web.en
Randstad canada-salary-guide-2013-technologies-web.en
 
Oja january 2013 market update (2)
Oja january 2013 market update (2)Oja january 2013 market update (2)
Oja january 2013 market update (2)
 
What Recruiters Want By Consult Shravan
What Recruiters Want By Consult ShravanWhat Recruiters Want By Consult Shravan
What Recruiters Want By Consult Shravan
 
The TeamLease Industry Salary Primer - 2013
The TeamLease Industry Salary Primer - 2013The TeamLease Industry Salary Primer - 2013
The TeamLease Industry Salary Primer - 2013
 

Mehr von Monster

Why Candidate Experience Will Make or Break More Than Just Hiring
Why Candidate Experience Will Make or Break More Than Just HiringWhy Candidate Experience Will Make or Break More Than Just Hiring
Why Candidate Experience Will Make or Break More Than Just HiringMonster
 
Navigation Employment Trends: A Monster Intelligence briefing
Navigation Employment Trends: A Monster Intelligence briefingNavigation Employment Trends: A Monster Intelligence briefing
Navigation Employment Trends: A Monster Intelligence briefingMonster
 
Social Recruiting Strategies Conference presentation — Jan. 28, 2015
Social Recruiting Strategies Conference presentation — Jan. 28, 2015Social Recruiting Strategies Conference presentation — Jan. 28, 2015
Social Recruiting Strategies Conference presentation — Jan. 28, 2015Monster
 
10 Inspirational Leadership Quotes
10 Inspirational Leadership Quotes10 Inspirational Leadership Quotes
10 Inspirational Leadership QuotesMonster
 
#MWchat Part Two: How to Achieve Work-Life Balance
#MWchat Part Two: How to Achieve Work-Life Balance#MWchat Part Two: How to Achieve Work-Life Balance
#MWchat Part Two: How to Achieve Work-Life BalanceMonster
 
#MWchat Part One: How to Achieve Work-Life Balance
#MWchat Part One: How to Achieve Work-Life Balance#MWchat Part One: How to Achieve Work-Life Balance
#MWchat Part One: How to Achieve Work-Life BalanceMonster
 
2012 Atlanta Job Market Report - Monster.com
2012 Atlanta Job Market Report - Monster.com2012 Atlanta Job Market Report - Monster.com
2012 Atlanta Job Market Report - Monster.comMonster
 
2012 Education Job Market Report - Monster.com
2012 Education Job Market Report - Monster.com2012 Education Job Market Report - Monster.com
2012 Education Job Market Report - Monster.comMonster
 
Legal Job Market Report - Monster.com
Legal Job Market Report - Monster.com Legal Job Market Report - Monster.com
Legal Job Market Report - Monster.com Monster
 
8 Requirements for Retaining Millennials
8 Requirements for Retaining Millennials8 Requirements for Retaining Millennials
8 Requirements for Retaining MillennialsMonster
 
2011 Monster Customer Service Job Market Report
2011 Monster Customer Service Job Market Report2011 Monster Customer Service Job Market Report
2011 Monster Customer Service Job Market ReportMonster
 
The Impact of Stress on Your Business Bottom Line (Part 2)
The Impact of Stress on Your Business Bottom Line (Part 2)The Impact of Stress on Your Business Bottom Line (Part 2)
The Impact of Stress on Your Business Bottom Line (Part 2)Monster
 
SeeMore from Monster
SeeMore from MonsterSeeMore from Monster
SeeMore from MonsterMonster
 
2011 Sales Job Candidate Career Outlook - Monster.com
2011 Sales Job Candidate Career Outlook - Monster.com2011 Sales Job Candidate Career Outlook - Monster.com
2011 Sales Job Candidate Career Outlook - Monster.comMonster
 
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report2011 Philadelphia Job Market Report
2011 Philadelphia Job Market ReportMonster
 
2011 Columbus, OH Job Market Report - Monster.com
2011 Columbus, OH Job Market Report - Monster.com2011 Columbus, OH Job Market Report - Monster.com
2011 Columbus, OH Job Market Report - Monster.comMonster
 
Career Sites, Recruiting Strategy & The Candidate Experience
Career Sites, Recruiting Strategy & The Candidate ExperienceCareer Sites, Recruiting Strategy & The Candidate Experience
Career Sites, Recruiting Strategy & The Candidate ExperienceMonster
 
Turning Employee Survey Data Into Action
Turning Employee Survey Data Into ActionTurning Employee Survey Data Into Action
Turning Employee Survey Data Into ActionMonster
 
Monster Employment Index - Europe (July 2011)
Monster Employment Index - Europe (July 2011)Monster Employment Index - Europe (July 2011)
Monster Employment Index - Europe (July 2011)Monster
 
Is Workforce Loyalty A Thing of The Past?
Is Workforce Loyalty A Thing of The Past?Is Workforce Loyalty A Thing of The Past?
Is Workforce Loyalty A Thing of The Past?Monster
 

Mehr von Monster (20)

Why Candidate Experience Will Make or Break More Than Just Hiring
Why Candidate Experience Will Make or Break More Than Just HiringWhy Candidate Experience Will Make or Break More Than Just Hiring
Why Candidate Experience Will Make or Break More Than Just Hiring
 
Navigation Employment Trends: A Monster Intelligence briefing
Navigation Employment Trends: A Monster Intelligence briefingNavigation Employment Trends: A Monster Intelligence briefing
Navigation Employment Trends: A Monster Intelligence briefing
 
Social Recruiting Strategies Conference presentation — Jan. 28, 2015
Social Recruiting Strategies Conference presentation — Jan. 28, 2015Social Recruiting Strategies Conference presentation — Jan. 28, 2015
Social Recruiting Strategies Conference presentation — Jan. 28, 2015
 
10 Inspirational Leadership Quotes
10 Inspirational Leadership Quotes10 Inspirational Leadership Quotes
10 Inspirational Leadership Quotes
 
#MWchat Part Two: How to Achieve Work-Life Balance
#MWchat Part Two: How to Achieve Work-Life Balance#MWchat Part Two: How to Achieve Work-Life Balance
#MWchat Part Two: How to Achieve Work-Life Balance
 
#MWchat Part One: How to Achieve Work-Life Balance
#MWchat Part One: How to Achieve Work-Life Balance#MWchat Part One: How to Achieve Work-Life Balance
#MWchat Part One: How to Achieve Work-Life Balance
 
2012 Atlanta Job Market Report - Monster.com
2012 Atlanta Job Market Report - Monster.com2012 Atlanta Job Market Report - Monster.com
2012 Atlanta Job Market Report - Monster.com
 
2012 Education Job Market Report - Monster.com
2012 Education Job Market Report - Monster.com2012 Education Job Market Report - Monster.com
2012 Education Job Market Report - Monster.com
 
Legal Job Market Report - Monster.com
Legal Job Market Report - Monster.com Legal Job Market Report - Monster.com
Legal Job Market Report - Monster.com
 
8 Requirements for Retaining Millennials
8 Requirements for Retaining Millennials8 Requirements for Retaining Millennials
8 Requirements for Retaining Millennials
 
2011 Monster Customer Service Job Market Report
2011 Monster Customer Service Job Market Report2011 Monster Customer Service Job Market Report
2011 Monster Customer Service Job Market Report
 
The Impact of Stress on Your Business Bottom Line (Part 2)
The Impact of Stress on Your Business Bottom Line (Part 2)The Impact of Stress on Your Business Bottom Line (Part 2)
The Impact of Stress on Your Business Bottom Line (Part 2)
 
SeeMore from Monster
SeeMore from MonsterSeeMore from Monster
SeeMore from Monster
 
2011 Sales Job Candidate Career Outlook - Monster.com
2011 Sales Job Candidate Career Outlook - Monster.com2011 Sales Job Candidate Career Outlook - Monster.com
2011 Sales Job Candidate Career Outlook - Monster.com
 
2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report2011 Philadelphia Job Market Report
2011 Philadelphia Job Market Report
 
2011 Columbus, OH Job Market Report - Monster.com
2011 Columbus, OH Job Market Report - Monster.com2011 Columbus, OH Job Market Report - Monster.com
2011 Columbus, OH Job Market Report - Monster.com
 
Career Sites, Recruiting Strategy & The Candidate Experience
Career Sites, Recruiting Strategy & The Candidate ExperienceCareer Sites, Recruiting Strategy & The Candidate Experience
Career Sites, Recruiting Strategy & The Candidate Experience
 
Turning Employee Survey Data Into Action
Turning Employee Survey Data Into ActionTurning Employee Survey Data Into Action
Turning Employee Survey Data Into Action
 
Monster Employment Index - Europe (July 2011)
Monster Employment Index - Europe (July 2011)Monster Employment Index - Europe (July 2011)
Monster Employment Index - Europe (July 2011)
 
Is Workforce Loyalty A Thing of The Past?
Is Workforce Loyalty A Thing of The Past?Is Workforce Loyalty A Thing of The Past?
Is Workforce Loyalty A Thing of The Past?
 

2011 Tax & Accounting Job Market

  • 1. UNITED STATES TAX & ACCOUNTING 2011 JOB CANDIDATES Insights and Analysis from Professionals, Recruiters and Hiring Managers Sponsored by: Brought to you by Monster Intelligence
  • 2. 2 TAX & ACCOUNTING – 2011 JOB CANDIDATES At a time of high unemployment and low hopes, jobs in the accounting and auditing fields are expected to grow. Accountants and auditors should enjoy much faster than average employment growth from 2008 through 2018, according to the Occupational Outlook Handbook 2010- 2011. The predicted growth of 22 percent, or 279,400 new jobs, the handbook said, will result from “an increase in the number of businesses, changing financial laws, and regulations, and greater scrutiny of company finance.” Employers will remain cautious and believe the recovery will be slow; they are wary about plans for expansion and hiring. Still, hiring trends TABLE OF CONTENTS are looking more positive and employers with strong capital will be looking to expand in 2011. Hiring Talent in 2011 3 Accounting Talent 3 The best prospects await those with professional licenses, such as the Career Talent 5 CPA credential, according to the U.S. Department of Labor‟s Bureau of Education Talent 5 Labor Statistics, which releases the Occupational Outlook Handbook Experienced Talent 5 every other year. Job Search Conditions 6 Monster leveraged more than 1.2 million Tax & Accounting resumes Market Conditions 7 coupled with online job postings for talent across the United States in Market Overview 7 order to gain insight into candidates and employers. Data is current Online Recruitment Trends 9 through December 2010 unless otherwise noted. Additionally, Monster Recruitment Activity 10 surveyed active Tax & Accounting (referred to in this report as simply Hiring Conditions 11 Accounting) professionals, HR professionals and hiring managers to present a snapshot of activity within the United States on Monster. The surveys were conducted between November and December 2010. Supply and Demand Analysis 12 Labor Performance Matrix 14 Career Level Requirements 16 About the Sponsor: Education Level Requirements 16 Experience Requirements 16 Job Type Requirements 17 Job Status Requirements 17 Qualifications and Benefits 18 Ajilon Finance - Ajilon Finance is a leader in specialized financial Compensation 19 staffing and recruitment. We place premier accounting, financial and bookkeeping professionals in temporary and direct-hire positions. In Conclusion 20 addition, we also provide a wide range of finance consulting solutions to companies on a project or interim basis, including senior-level Monster Intelligence 20 financial and operations expertise. Please visit www.ajilonfinance.com for more information. Accounting Principals - Accounting Principals is a leader in the recruitment and placement of accounting and finance professionals. Accounting Principals offers a complete range of workforce solutions in accounting, finance, mortgage and banking through our nationwide branch network and team of experienced professionals. For more information, please visit www.accountingprincipals.com. Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 3. 3 HIRING TALENT IN 2011 Accounting Talent Skills The following data analyzes the supply (resumes) of tax Listed in the chart below are the top skills made and accounting professionals on Monster nationwide. It available by accounting candidates on their provides a current picture of key Accounting job seeker Monster accounts. The list is full of technical skills, availability in the United States. including computer skills, software packages, and accounting-related terms. The most popular soft Listed among the nine Accounting occupations skills include Communications and Leadership, reviewed, the top two occupations in supply across the mentioned in over 8 percent of accounts, as well as nation accounted for more than one-half (59 percent) of Problem Solving. the candidates. Financial Analysts - 31% Accountants and Auditors - 28% Bookkeeping, Accounting, and Auditing Clerks -19% Bill and Account Collectors - 7% Accounting/Tax Managers - 5% Loan Officers - 4% Cost Estimators - 3% Tax Examiners/Revenue Agents - 2% Budget Analysts - 1% Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 4. 4 In a recent Monster survey of more than 600 Accounting professionals and 140 employers, respondents were asked “Which of the following "hard" skills are most in supply/demand when looking for the ideal accounting job/candidate?” Hard skills are technical requirements of a job or activity that are teachable, often requiring on-the-job training or more formal education such as that provided by a college or university. Key Accounting hard skills referenced by more than 40 percent of employer respondents included Microsoft products, GAAP, and CPA. More than 40 percent of professional respondents cited the same skills as critical to their career. Similarily, Accounting professionals and employers were asked “Which of the following “soft” skills are most in supply/demand when looking for the ideal accounting job/candidate?” Accounting professionals and employers agree that Problem Solving is a key success factor (more than 50 percent of respondents) however, employers also view Work Ethic, Dependability, Self-Confidence, Communication, Ability to Work Under Pressure, Teamwork, and Initiative skills as critical as well, whereas employees find these skills less imperative to the job (fewer than 50 percent of respondents). Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 5. 5 The charts below give a detailed profile of Accounting job seekers found on Monster including career experience, education level and work experience. Accounting candidates found on Monster are typically mid-career with at least a bachelor‟s degree and more than five years of experience. Career Talent Forty-nine percent of Accounting job seekers in 2011 are mid- Career Level career. Twenty-five percent are managers or above while 26 Student Executive percent are emerging into today‟s workforce. 9% 3% Manager Entry Level 22% 17% Mid Career 49% Education Talent Sixty-three percent of Accounting job seekers in 2011 have at Education Level least a bachelor‟s degree. Twenty-four percent have an Certification Associate degree or some-college. -Vocational Masters or High School 4% Above 9% 18% Associate/ Some- College 24% Bachelors 45% Experienced Talent The majority (59 percent) of Accounting job seekers have Years of Work Experience more than five years of work experience. The second largest group has two to five years of experience (22 percent). More than 15 Years 10+ to 15 Years 7+ to 10 Years 5+ to 7 Years 2+ to 5 Years 1+ to 2 Years Less than 1 Year 0% 5% 10% 15% 20% 25% Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 6. 6 Job Search Conditions The primary reason Accounting professionals are looking for a job is due to layoffs, which shows that despite improvements in the economy, uncertainly still exists. The second most popular response was re-entry into the workforce. With the uncertainty of the economy many stay at home mom‟s, retired individuals, and those unemployed for extended periods of time are seeking re-entry into the workforce. The top four reasons Accounting professionals are searching for a job include: 1. Layoffs occurring/occurred (29 percent) 2. Re-entering the workforce (16 percent) 3. Salary is not as desired (15 percent) 4. Limited or no potential for upward mobility (12 percent) Factors less likely to drive candidates to look for a job were „relationship with a peer/manager‟. Accounting professionals report that they are somewhat finding success in meeting their expectations and requirements. Forty-one percent are finding „Good‟ to „Excellent‟ conditions, which is slightly encouraging news in this rebounding sector. Those respondents that reported „Average‟ to „Poor‟ conditions were asked “What makes it challenging looking for a job”. The two primary reasons job seekers had a difficult time finding accounting positions were „getting an employer or recruiter to contact them‟, „too few jobs‟ and „finding a job that matches what they want (e.g., salary, locations, etc.)‟. From Monster‟s recent survey to Accounting professionals, the majority of respondents (65 percent) are most comfortable with going to online job boards to search for opportunities and post their resume. Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 7. 7 Market Conditions After experiencing a dip the past couple of years, Accounting professions have reported encouraging signs of expansion as well as a greater balance in its talent demand versus talent supply. Market Overview Following the corporate scandals in the 1990s, the Tax and Accounting profession flourished as accountants were in demand to audit firms, uncover discrepancies, and help companies adhere to the rush of new regulations. In some occupations, demand exceeded supply. The economic downturn over the past few years has stabilized the equation as accounting firms were forced to cut costs and downsize. A recent report of the top 100 Tax and Accounting firms confirms the ill effects of the weak economy. Total revenue of the top 100 companies dropped 2.85%, the first ever decline in the 23 years that this report has been compiled. Not only did revenues decline, but employees as well. As seen in the chart below, total employees in the top 100 fell by 2.3%, while the smaller firms reported modest expansion. On a positive note, the number of employed partners increased 1 4.9% to 16,945. 2009 % of Total % Change Employment 2008-09 Top 6 Tax and Accounting firms 135,777 72% -3.0% Firms over $100 million in revenue 30,707 16% -1.4% Firms under $100 million in revenue 22,000 12% +0.9% TOTAL Top 100 Tax and Accounting firms 188,484 100% -2.3% Seeing further signs of hope, a majority of smaller regional firms have expanded their accounting operations. These firms typically focused on niches likely to do well in tough times, helped with bankruptcies, and assisted clients in surviving the recession. Going forward, accounting firms are gearing up for a slow recovery by creating new practice units, improving communication and client retention, and increasing marketing and sales efforts. The Bureau of Labor Statistics predicts the top two accounting roles, as seen on the next page, will increase by 15% over the next decade. Both roles rank in the top twenty U.S. occupations adding the most new jobs by 2018; Bookkeeping, Accounting and Auditing Clerks are estimated to grow by 212,400 while Accountants and Auditors are forecasted to rise by 279,400. 1 Accounting Today‟s “Top 100 Firms 2010” Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 8. 8 The top two Accounting roles are listed below. Occupation (Employment in thousands) 2008 Projected % Change 2018 2008-18 Bookkeeping, Accounting, and Auditing 2,063.8 2,276.2 +10% Clerks Accountants and Auditors 1,290.6 1,570.0 +22% TOTAL 3,354.4 3,846.2 +15% Factors leading to the need for more bookkeepers and accountants include the continued expansion of the number of businesses, further globalization, evolving tax standards (including the International Financial Reporting Standards), and stricter financial laws and regulations. In order to meet recruiters growing demand, the Accounting sector will need to continue to recruit a strong pipeline of candidates as well as successfully develop senior accounting teachers, which has been a challenge in the past, in order to train the rising professionals. Recovery will be slow and employers will remain cautious. In fact, a recent survey of more than 150 Accounting recruiters and hiring managers at Monster were asked “How many accounting positions do they intend to fill in the next six months” and “What percent of the accounting positions they expect to fill are new openings vs. replacement positions”. A majority of those hiring in the next six months are filling a limited numbers of roles (84 percent plan to hire less than ten positions) and very limited new roles (52 percent plan that less than ten percent of positions will be new). Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 9. 9 Online Recruitment Trends The Monster Employment Index (MEI) is a leading indicator of labor market trends as it tracks online recruitment activity by location, occupation, and industry. As seen below, each of the three indices noted here (National, Business & Financial Operations, and Office & Administrative) have reported relatively stable trends in 2010.  The Business & Financial Operations MEI follows job postings for occupations such as accountants, budget analysts, loan officers, and tax examiners. The index has gained 34 percent (+39 points) since its low point in July 2009.  The Business & Financial Operations trends are more positive than the National, as the U.S. MEI fell 3 percent (+4) in December while Business & Financial Operations rose 3% (+5) compared to a year ago.  The Office & Administrative MEI is another occupation metric, trending jobs for financial clerks as well as for non-accounting roles such as customer service representatives, desktop publishers, and file clerks. The index has historically trailed both the U.S. and Business & Financial Operations indices. Most recent results have been slightly down, the December index dropped 9 percent (-9) from November and decreased 2 percent (-2) year-over-year. The index also hit its low point in July 2009. The Monster Employment Index presents a monthly snapshot of employer online recruitment activity nationwide for 28 of the largest metro areas, and is generally regarded as a key indicator of demand in the labor market. The Index is based on a real - time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and job boards, including Monster. Using a baseline value of 100, the Index can be used to compare hiring trends across local markets and occupational groups. As such, a higher Index figure means stronger growth in online job availability. Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 10. 10 Accounting-like occupations within both the Accounting & Tax Preparation segments across all major online job boards 2 have reported positive expansion following two difficult years. Job postings in 2008 fell 13 percent and in 2009 dropped a steep 51 percent. Postings were negative in January, February, and July of 2010, but were positive the rest of the year resulting in a 13 percent gain for the year. Recruitment Activity On Monster, the vast majority (99 percent) of job postings from Accounting and Tax employers are provided by Accounting, Auditing, and Bookkeeping firms. Tax Return Services accounted for fewer than 1 percent of all Accounting job postings. The types of roles Accounting companies posted over the past year include roles primarily for Business/Strategic Management (35 percent), Accounting/Finance/Insurance (14 percent), and Medical/Health (13 percent). Financial Services Job Postings by Category % Total Job Postings Business/Strategic Management 35% Accounting/Finance/Insurance 14% Medical/Health 13% IT/Software Development 7% Human Resources 6% Engineering 4% Security/Protective Services 3% Logistics/Transportation) 2% Administrative/Clerical 2% Sales/Retail/Business Development 2% All Other 11% 2 Wanted Technologies, New Online Ads, Dec ‟08-Dec‟10 Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 11. 11 Hiring Conditions Monster recruiters surveyed predict filling Accounting roles will move fairly quickly. Nearly half (44 percent) of respondents expect opportunities to take less than 30 days to fill a position and 43 percent predict each opportunity will take an average of 31 to 60 days. 13 percent plan for more than 60 days. With the excess of candidates looking for work, it is no surprise that recruiters are having a relatively easy time finding qualified candidates. 75 percent of respondents said their ability to find Accounting candidates was “Good” to “Excellent”. Those few respondents that reported „Average‟ to „Poor‟ conditions were asked “What makes it hard to find candidates”. The primary reason recruiters and hiring managers had a difficult time recruiting for accounting positions was „an increased workload‟. When looking at the challenges of the candidates themselves, responses were few, but some hirers did note there were „under qualified candidates‟, „not enough candidates‟, and „overqualified candidates‟. Recruiters noted the top five Accounting areas with planned hiring include: 1. Accounts Receivable/Payable (55 percent) 2. Reporting (44 percent) 3. Audit (34 percent) 4. Tax (33 percent) 5. Compliance (32 percent) From Monster‟s recent survey to Accounting recruiters and hiring managers, most respondents (79 percent) are most comfortable with going to online job boards to source candidates. Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 12. 12 Supply and Demand Analysis A comparison of Monster Job Seekers seeking employment in the Accounting and Auditing segment compared to the volume of job postings from Accounting and Tax companies reveals higher supplies of candidates than in other U.S. states in areas such as Montana, Idaho, and South Carolina denoted by the darker green areas in the map below. Recruitment for candidates in lighter green areas such as Vermont, Virginia, and Connecticut may be more competitive where the ratio of resumes per job posting is lower than in other areas nationwide. The types of roles these candidates are seeking span a wide range of areas with the highest volume targeting Accounting/Finance/Insurance opportunities followed closely by Administrative/Clerical. Financial Services Job Seekers by Category % Total Job Postings Accounting/Finance/Insurance 30% Administrative/Clerical 20% Customer Support/Client Care 7% Human Resources 5% Banking/Real Estate/Mortgage Professionals 5% Business/Strategic Management 4% Sales/Retail/Business Development 4% IT/Software Development 3% Medical/Health 2% Project/Program Management 2% All Other 18% Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 13. 13 The remainder of this report will focus on key Accounting professions and how supply and demand measures up when recruiting for this multifaceted talent pool. 1. Financial Analysts, 31% 1. Accountants and Auditors, 33% Employers Job Seekers 2. Accountants and Auditors, 28% 2. Financial Analysts, 20% 3. Bookkeeping, Accounting, and 3. Bookkeeping, Accounting, and Auditing Clerks, 19% Auditing Clerks, 14% 4. Bill and Account Collectors, 7% 4. Accounting/Tax Managers, 9% 5. Accounting/Tax Managers, 5% 5. Bill and Account Collectors,8% 6. Loan Officers, 4% 6. Loan Officers, 5% 7. Cost Estimators, 3% 7. Cost Estimators, 5% 8. Tax Examiners/Revenue Agents, 2% 8. Tax Examiners/Revenue Agents, 5% 9. Budget Analysts, 1% 9. Budget Analysts, 1% ● ● ● ● ● ● The supply and demand for Financial Analysts and Accountants/Auditors lead activity for this sector with more than half of job seeker and recruiter activity for this segment. Thirty-one percent of the talent pool and 20 percent of opportunities are for Financial Analysts. Twenty-eight percent of the talent pool and 33 percent of opportunities are for Accountants and Auditors. There may be a slight advantage towards hiring Financial Analysts. Listed below are the top 20 out of over 140 Accounting job titles in which job seekers are interested. These 20 job titles accounted for 74 percent of the Accounting talent. # Job Titles (1-10) # Job Titles (11-20) 1 Financial Analyst 11 Accounting Manager 2 Accountant 12 Financial Analyst - Operations 3 Staff Accountant 13 Sr. Financial Analyst 4 Call Center Representative - Financial Services 14 Accounting Clerk III 5 Accounting Clerk 15 Finance Manager 6 Bookkeeper 16 Accounts Receivable Clerk 7 Medical Billing Clerk 17 Investment Specialist 8 Sr. Accountant 18 Budget Accounting Clerk 9 Accounts Payable Clerk 19 Cost Accountant 10 Reserves Analyst 20 Bill Collector Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 14. 14 In reviewing the top 20 (out of more than 140 titles) Accounting job titles posted on Monster.com from January 2010 to December 2010, the first three (Senior Accountant, Financial Analyst, and Staff Accountant) each accounted for a seven percent share of all job postings. The top 20 specific Accounting job titles are listed below and account for 65 percent of the Accounting opportunities. # Job Titles (1-10) # Job Titles (11-20) 1 Sr. Accountant 11 Medical Billing Clerk 2 Financial Analyst 12 Accounts Receivable Clerk 3 Staff Accountant 13 Tax Manager 4 Accounts Payable Clerk 14 Auditor 5 Accountant 15 Finance Manager 6 Sr. Financial Analyst 16 Assistant Controller 7 Cost Accountant 17 Sr. Tax Accountant 8 Accounting Manager 18 Credit Card Collections Specialist 9 Accounting Clerk 19 Investment Specialist 10 Bookkeeper 20 Bill Collector Labor Performance Matrix The Labor Performance Matrix below and on the next page compares job posting and resume performance within the Accounting occupation clusters. The size of the circle represents the supply, based on the ratio of resumes per job from January 2010 through December 2010. A large circle indicates a large pool of talent in comparison to the demand, and a smaller circle represents areas where the demand may outweigh the supply. How to Read the Matrix: Talent Surplus Not enough jobs to match supply Plan for increased volume of candidates Focus on skills migration Incubator Opportunities (Growth Areas) High growth potential High Performance High growth in jobs and talent Focus on keeping talent Talent Shortage Not enough talent to meet demand At risk for competition Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 15. 15 Talent Surplus Bookkeeping, Accounting, and Auditing Clerks is the only occupation in the Talent Surplus quadrant when compared to other Accounting occupations, showing less job opportunities to meet job seeker needs. Recruiters need to plan for additional time and resources to help screen increased volumes of candidates and could consider retraining or other workplace development programs to ensure the surplus of candidates are put to work. Incubator Opportunities (Growth Areas) The growth occupations span a wide range of Accounting occupations. These areas are prime for candidate and/or job opportunity expansion. High Performance There are two occupations in the high performance quadrant: Financial Analysts, and Accountants and Auditors. There is an ample supply of both job postings and seeker resumes for these occupations. Talent Shortage There are no occupations in the Talent Shortage area, showing the current surplus of talent – and lack of job opportunities - in the Accounting sector. The matrix below summarizes occupational supply and demand from January 2010 through December 2010. Talent Surplus High Performance Zone Incubator Zone Talent Shortage Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 16. 16 In the following analysis, we compare talent demand (job postings) with talent supply (resumes) across a range of characteristics for key Accounting occupations. The comparisons reveal the similarities and disparities between the available jobs and the searching seekers. This analysis provides direction for recruiters and employers in setting their expectations and development areas. Career Level A steep 92 percent of job postings are for mid-career talent compared with 49 percent of new resumes. Due to this imbalance, recruiters may need to be flexible in their career requirement, either finding under or over-qualified candidates. . Education Level Accounting recruiters are concentrated in searching for candidates with at most a Bachelor‟s Degree (76 percent). Though the talent supply pool is a fairly educated group, as 63 percent have at least a Bachelor‟s Degree, recruiters could be challenged to fill roles as many seekers are either under or over-qualified. Experience level Similar to the other metrics, candidates are spread among the categories while job postings are relatively concentrated. A high 41 percent of job opportunities are for candidates with 2 to 5 years of experience compared to the 22 percent of available seekers. Some recruiters will need to settle on candidates with more years of experience than desired which may lead to higher compensation for talent. Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 17. 17 Job Type Requirements While Accounting job opportunities are primarily for permanent roles (67 percent), a much larger share (80 percent) of job seekers desire this type of work. The remaining 33 percent of job postings are for temporary/contract work; this relatively high percentage indicates companies are hiring cautiously as the industry and economy recover. Recruiters will most likely be encouraging candidates to settle for temporary/contract roles rather than their desired permanent role. Job Status Requirements Ninety-nine percent of job postings are for full-time employment and only 1 percent for part-time, while 83 percent of candidates are open to full-time employment and 16 percent for either. Employers should have an ample pool of talent to meet their needs within these criteria. Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 18. 18 Qualifications and Benefits As employers look through reams of resumes, the most important qualifications Accounting professionals place the greatest importance on when applying for opportunities is years of work experience (77 percent) and type(s) of work experience (70 percent) followed by soft skills/business knowledge (47 percent). Recruiters on the other hand value education when filtering through Accounting candidates. When asked “What were the most important qualifications in recruiting accounting talent”, hirers responded education (58 percent) and advanced degree (55 percent) followed closely by examples of work (54 percent) and soft skills/business knowledge (45 percent). Listed below are the most important factors Accounting professionals consider when evaluating a job opportunity. Note that these characteristics have been influenced by the recessionary economy and corporate scandals over the past few years, as „stability of position‟ and „company‟s reputation‟ rank in first and third, respectively. Recruiters were also asked how they would rate the same list of factors in terms of their importance to recruiting talent. The top three items were the same, though ordered: salary, stability of position, and company‟s reputation. Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 19. 19 Compensation Compensation expectations for recruiters and candidates are in fairly close alignment giving encouragement that recruiters can easily satisfy a potential recruit‟s salary expectations. The median salary offered in 2010 was $63,000 and the median salary candidates were seeking was $50,000. (Please note these salary requirements may represent total compensation for some job seekers and only a base salary for others.) The majority (fifty-four percent) of Accounting job postings on Monster offer a salary ranging from $40-80,000 (twenty- five percent, $40-60,000; twenty-nine percent, $60-80,000). On the other hand, most (sixty-six percent) job seekers expect to earn between $20-60,000 (thirty-two percent, $20-40,000; thirty-four percent, $40-60,000). The most significant disparity is at $60,000, where a higher percentage of employers offer greater salaries than candidates are requiring. Sixty-eight percent of Accounting job seekers expect to earn less than $60,000 though only fifty-three percent of employers plan to offer less than $60,000. Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 20. 20 Diversify Your Recruitment Strategy in 2011 As the nation emerges Recruiters should keep in mind the following points when planning for the next 12-months. Network to strengthen your brand: Networking has always been a fundamental aspect of establishing a presence and sourcing candidates. Today's recruiters must actively network across the Internet to get a more holistic view of the applicant. With Monster’s 20 network communities integrated into its core site, experts are better able to help individuals access advice from industry experts and keep on top of trends. These communities also offer employers access to a pool of targeted candidates. Play a smart matching game. Have processes and paper work in place, be diligent about screening, and communicate frequently with hiring managers. Many recruiters are using technology to help quickly match candidates to jobs and eliminate unqualified applicants. Monster’s semantic 6Sense™ search technology powers our Power Resume Search application, sorting and ranking candidates so the best are at the top. Using these types of sorting programs, recruiters save time and money sourcing candidates that precisely match their positions. Spend accordingly. As budget managers remain cautious, leverage as many benefits as possible that attract and retain employees yet require minimal investment. Keep on top of what is most important to job seekers by leveraging Monster’s free online resources at the Resource Center (http://hiring.monster.com.) The site offers actionable reports and webinars covering the most current issues facing not only job seekers, but recruiters as well. Monster intelligence As the premier digital employment solution, Monster has consistently maintained a leadership position in defining and driving innovative products and services to champion digital recruitment. We see tremendous value in providing our clients, the online recruitment industry, and the public at large with analysis on both job seeker and employer behaviors, as well as general employment market trends. In direct response to our customers‟ needs for strategic human capital intelligence, Monster created an initiative, entitled Monster Intelligence, that is focused on providing business leaders and HR Executives real-time insight into market trends that will guide them in future recruitment planning. As a market leader, Monster is uniquely positioned to provide strategic information on employment trends to Corporate Executives and Hiring Managers. These tools provide our customers with views into the labor market and comprehensive information to further their employment strategy. More details are available at the Monster Resource Center at: http://hiring.monster.com/hr/hr-best-practices.aspx. We welcome your insight and comments on the monster intelligence reports and encourage you to let us know your thoughts by providing feedback at Intelligence@monster.com Monster is the primary source of information for this report; it should only be interpreted as a definitive activity report on Monster and its subsidiaries. Monster‟s in-depth data-driven approach improves on typical survey-based methodologies by dramatically increasing the depth and breadth of information collected as well as by capturing actual behavior rather than intended behavior. Data is current through December, 2010 unless otherwise indicated. Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.
  • 21. 21 Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.